Twitch, owned by Amazon Inc., has announced that it is de cryptocurrencies gambling content. This will be implemented from next month, October 18.
Live broadcasts of slots, roulette and dice games on websites such as Stake.com, Rollbit.com and Duelbits.com are not allowed.
This ban comes after the backlash from controversial crypto gambling livestreams against multi-million dollar sponsorship deals that many leading Twitch personalities have enjoyed.
These live streaming gambling sites such as Stake.com, Rollbit and Duelbits.com are not licensed in the US or other jurisdictions responsible for providing consumer protections.
Stake.com, the most popular of these sites, is licensed in Curacao.
According to the tweet, Twitch mentioned that gambling content is “a big topic of discussion” within the community and went on to add:
While we prohibit the sharing of links or referral codes to any slot, roulette, or dice sites, we’ve seen some people circumvent these rules and expose our community to potential harm.
Sites not registered in the US will be banned
It has been said that sites that are not licensed in the US or other jurisdictions that provide adequate consumer protection should be banned in the future.
Other sites will also be identified in the future. However, platforms that focus on sports betting, fantasy football and poker will not be banned.
Streamers have also stated that they obtained sponsorships of more than $1 million from sites such as Stake.com within a month.
According to data from TwitchTracker, watching streamers gambling has become extremely popular, even more popular than watching gamers playing Fortnite on Twitch.
At any given time, at least 50,000 people watch Twitch celebrities play slots, blackjack and other games of chance, along with gambling with crypto such as Bitcoin and Ethereum.
Twitch streamers and fans alike have expressed their stance against live streaming of gambling.
Concerns about increasing crypto gambling have increased
The growing prominence of crypto gambling content has raised some immediate and major concerns. It has even caused some users to lose a significant sum of money and also cause addiction.
Famous Twitch users have even threatened to boycott the site until the crypto gambling problem is resolved.
Earlier in September, a streamer admitted to duping fans and other Twitch creators for nearly $200,000 to pay for a gambling addiction on Counter Strike: Global Offensive.
While this was not crypto related, crimes related to crypto betting are also on the rise.
Not only well-known Twitch users but also regular users and fans have expressed their disapproval of these gambling live streams.
Some fans and users have also developed an addiction and are now addicted to crypto gambling after being inspired by their favorite streamers to participate in crypto gambling.