Twitch Increasingly Becoming Hub for Crypto Gambling

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Crypto casinos, which have mushroomed in recent years, have contributed to the recent gambling surge on Twitch. Simply put, these are websites that provide players the opportunity to acquire cryptocurrencies like Bitcoin and Ethereum, which can then be used in digital versions of traditional casino table games such as blackjack, slots, and baccarat.

Streamers and industry experts report that online casinos are paying well-known players to play casino games on their channels. Payouts of up to tens of thousands of dollars an hour are not unusual.

The ‘Slots’ page, where Twitch’s gambling content sits, is one of the site’s most popular subcategories. Streaming heavyweights like Fortnite and Dota 2 aren’t even in the same league as this. A large part of this is due to Twitch’s most renowned stars signing lucrative marketing agreements with crypto gambling websites. To put it simply, the purpose here is to get the gaming products in front of millions of people.

These streamers who engage in multi-million-dollar advertising agreements to play crypto gambling games are now putting their viewers at risk of gambling-related harm. The excitement and camaraderie of the streams have enticed many to engage in wagering on their own. They have a never-ending supply of nightmare scenarios involving empty bank accounts, depleted life savings, and loans.

Is Twitch Taking Action?

This is not the first time this has happened. Early last year, Twitch introduced additional procedures to prohibit connections and referral codes to gambling sites. Restrictions were introduced in a Creator Update to avoid damage and frauds produced by suspicious gambling businesses that sponsor content on Twitch.

“We take any potential harm to our community extremely seriously.  While gambling content represents a very small fraction of the content streamed on Twitch, we monitor it closely to ensure our approach mitigates potential harm to our global community.”

Twitch’s Statement

In addition to this, the Safety Center on Twitch provides help for those who are struggling with an addiction to gambling.

It is possible that the countermeasures to combat the growing wave of crypto gambling on the site may go much farther than that. This means that there is a chance that gambling may no longer be available on Twitch in the future. According to a spokesman for Twitch, the firm is presently conducting an in-depth investigation into the gambling-related activities that take place on the platform.