Twitch about to ban Crypto Gamblers!

9/21/2022, 05:59 AM
Twitch about to ban Crypto Gamblers!
Twitch, the popular live streaming service owned by Amazon, has announced that it will be banning gambling livestreams after backlash from influencers and fans. The ban will apply to gambling sites that are not licensed in the US or other jurisdictions that provide sufficient consumer protection. This ban will go into effect on October 18th.

As Twitch looks to ban crypto gambling livestreams, it is important to consider the potential harm that these types of activities can pose to viewers. While some may see gambling as a harmless form of entertainment, there is a real risk that people can become addicted to gambling and end up losing a lot of money. This is especially true when people are watching their favorite streamers gamble, as they may be more likely to imitate their behavior.

While we prohibit sharing links or referral codes to all sites that include slots, roulette or dice games, we’ve seen some people circumvent those rules and expose our community to potential harm
- Twitch

While Twitch's ban on gambling livestreams is intended to protect viewers from potential harm, it is also important to consider the impact that this will have on the streamers themselves. Many of these streamers rely on gambling sponsorships for a significant portion of their income, and they may now be forced to find other ways to make money. This could have a significant impact on their livelihoods, and it is important to consider the human cost of this decision.

Ultimately, it is up to each individual to decide whether or not they want to watch gambling livestreams. However, it is important to be aware of the potential risks involved in doing so.

In recent months, Twitch has seen a boom in gambling sponsored by so-called "crypto casinos." These sites allow gamblers to use cryptocurrencies like Bitcoin and Ethereum to play digital games of chance, such as slots, blackjack, and baccarat.

Many top streamers on Twitch, including Tyler Niknam (better known as Trainwrecks to his 1.5 million followers), have been paid to play casino games on these sites. In some cases, they have been offered tens of thousands of dollars an hour.

However, there are concerns that some of these streamers may be promoting illegal gambling. This is because many of the sites sponsoring them cannot operate legally in the US. Promoting gambling sites that cannot operate in the US and making money by referring US residents to them may constitute promoting illegal gambling, legal experts have said.

In addition, some streamers may be playing with "house money" - that is, they are being given money by the casinos to gamble with. This gives the appearance of painless fun, when in reality people can lose a lot of money gambling.

Morality came into play. It did. I felt shitty doing any type of gambling sponsorship,” he later said. “And I know people are like, Mizkif, but you do sponsors all fucking day. If you download Dungeons and Dragons, what’s the worst that happens? You lose $40 and a couple of hours of your life. Gambling is different.”