Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Backlash Against Twitch: Crypto Livestream Gambling Banned

Published 09/21/2022, 04:42 AM
Updated 09/21/2022, 05:00 AM
Backlash Against Twitch: Crypto Livestream Gambling Banned

  • BitcoinAgile tweeted regarding Twitch’s ban on livestream gambling.
  • The ban was the result of a backlash against Twitch.
  • A prominent gamer was allegedly scamming their users.

The leading information platform BitcoinAgile tweeted, revealing the decision of Twitch, the interactive live stream service for gaming, sports, music, and other content, to ban controversial crypto gambling livestreams. The decision resulted from a backlash against Twitch as certain top Twitch streamers had been allegedly scamming their users.

On Tuesday, Twitch tweeted about a change in livestream gambling, stating that it would ban the streaming of gambling sites that include slots, roulette, or dice games:

Earlier, a prominent Twitch streamer Abraham Mohammed, known as Sliker admitted that he had scammed the users by allegedly raising funds for his Counter-Strike: Global Offensive gambling addiction.

In response to this revelation, some celebrated streamers like Imane “Pokimane” Anys, Matthew “Mizkif” Rinaudo, and Devin Nash coordinated a boycott of Twitch to protest the platform’s loose gambling policies, which put the company under greater pressure.

According to the new statement, Twitch would ban the livestream gambling sites including Rollbit, Satke.com, and Duelbits that “aren’t licensed either in the US or other jurisdictions that provide sufficient consumer protection.” The ban would run into action by October 18.

However, Twitch would allow sports betting, fantasy sports, and poker to continue functioning. The company added that the ban might be expanded to other sites and contents according to the status of the problem.

Nevertheless, livestream gambling’s large-scale ban could affect the prominent figures on the platform as gambling is not only entertainment but also a source of income. For instance, the gamer Tyler Faraz “Trainwreck” Niknam stated that the creators make up to a million a month from gambling companies.

When the rumors against Twitch increased, the company stated that it wasn’t devoid of any rules, but remarked: “Some people circumvent those rules and expose our community to potential harm.”

The post Backlash Against Twitch: Crypto Livestream Gambling Banned appeared first on Coin Edition.

See original on CoinEdition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.