After receiving significant pushback from some of its most popular content producers, the live-streaming behemoth Twitch announced that it would take extra measures to clamp down on unauthorized crypto gambling material on its site. Since Twitch has decided to ban the practice, live streaming from gambling websites such as Stake.com, Rollbit, and Duelbits.com will no longer be allowed after October 18. These websites, which Amazon owns, "aren't licensed either in the United States or other countries that offer appropriate consumer protection," according to the firm. Twitch said that it has "seen certain users" potentially endanger the community by "exposing our community to possible harm."
The firm also said that it already has a policy that makes it illegal to provide links or recommendations that involve slot machines, roulette, or dice games; nonetheless, these guidelines were being broken.
Twitch has stated that it would continue to let websites that specialize in activities such as sports betting, fantasy sports, and poker.
Silker’s Testimony Brings Things To Light
This week, the issue of gambling among some of the most famous broadcasters on Twitch has gained fresh prominence. This is partly because of Sliker, a notable streamer who acknowledged a strong addiction to wagering during a stream the previous weekend based on CS: GO matches. The online broadcaster said that he had conned friends and admirers out of more than $200,000 (about Rs. 1.60 lakh) so that he could pay off his gambling bills.
In response to the controversy, several prominent broadcasters have expressed their intent to quit Twitch if the site does not prohibit or regulate gambling.
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The Role of Stake
According to a recent article by Bloomberg, the recent growth in the number of live gambling streaming on Twitch has resulted in addiction for some users and worrying levels of debt for others. Gambling companies like Stake.com, located in Curacao, pay prominent streamers and celebrities such as the rapper Drake millions of dollars each month to play on cryptocurrencies in front of their followers on the Twitch platform.
It would seem that Stake's laborious marketing plan was successful. The viewers were beginning to get captivated, and several decided to participate. On the other hand, unlike the streamers they were watching, absurd sponsorship agreements did not compensate for their losses.
According to one gambler who spoke with Bloomberg, "Once the initial exhilaration of seeing someone play with such enormous amounts had worn off, it was largely off-putting and made me nauseous watching it." In addition, it offered viewers an erroneous impression of who won and who lost.
Featured image: Twitch
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