October 6, 2022

Twitch, owned by Amazon Inc., has announced that it will ban crypto gambling content. This will apply from next month, October 18.

Live streaming of slots, roulette and craps is not permitted on websites such as Stake.com, Rollbit.com and Duelbits.com.

The ban comes after backlash over controversial live crypto gambling against the multi-million dollar sponsorship deals enjoyed by many prominent Twitch personalities.

These live gambling websites such as Stake.com, Rollbit and Duelbits.com are not licensed in the US or other jurisdictions responsible for providing consumer protection.

Stake.com, which is the most popular of these sites, is licensed in Curacao.

According to the tweet, Twitch mentioned that gambling content was “a big topic of discussion” within the community and further added,

Although we prohibit the sharing of links or referral codes on any site that includes slots, roulette or craps games, we have seen some people circumvent these rules and expose our community to potential harm.

Websites not registered in the US will be banned

It was mentioned that sites not licensed in the US or other jurisdictions that provide adequate consumer protection should be banned in the future.

Other locations will be identified in the future. However, platforms focused on sports betting, fantasy football and poker will not be banned.

Streamers also reported securing more than $1 million in sponsorships within a month from sites like Stake.com.

According to TwitchTracker, watching streamers gamble has become extremely popular, even more popular than watching players play Fortnite on Twitch.

At any given time, at least 50,000 people are watching Twitch celebrities play slots, blackjack, and other games of chance, along with gambling on cryptocurrencies like Bitcoin and Ethereum.

Both Twitch streamers and fans have mentioned their stance against live gambling.

Concerns about the rise of crypto gambling have grown

The growing importance of crypto gambling content has raised some immediate and major concerns. It even caused some users to lose a considerable amount of money and also caused addiction.

Famous Twitch users have even threatened to boycott the site until the crypto gambling issue is resolved.

Earlier in September, a streamer admitted to defrauding fans and other Twitch creators of close to $200,000 to pay for a Counter Strike: Global Offensive betting addiction.

Although this was not related to crypto betting, crypto betting related crimes are also on the rise.

Not only famous Twitch users, but also regular users and fans have expressed their disapproval of these live gambling streams.

Some fans and users have also developed an addiction and are now hooked on crypto gambling after their favorite streamers inspired them to participate in crypto gambling.

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