One of the most well-known video hosting and live streaming websites available today is Twitch.
A popular platform for artists to express their ideas and opinions on subjects ranging from video games to online gambling to everyday life, what originally started as a way to “cast” games (broadcast them to an audience of people live) has now evolved.
Twitch streams have recently begun emphasizing gambling more and more, particularly on online casinos and cryptocurrency casinos.
Due to this rise in popularity, many players who may not have otherwise visited crypto casinos have been persuaded to give games like poker, roulette, blackjack, and more a try in exchange for bitcoin.
What is cryptocurrency betting?
We must first define cryptocurrency gaming for individuals who might not be familiar with it. Really, the name says it all. Crypto gambling is simply gaming in which you play with cryptocurrencies.
There has been somewhat of a gambling rebirth in recent years. Online gambling companies have made sure that the public is exposed to an increasing number of people.
Playing all of your favorite games on a website is what online gambling entails, as you might expect.
Crypto casinos developed as a result of internet gaming. There are a few differences between crypto casinos and internet casinos. In reality, the only significant distinction is that participants in crypto casinos place bets using digital currencies.
Due in large part to the online promotion by a large number of Twitch streams, these casinos have recently experienced tremendous growth in popularity.
Casinos using cryptocurrency have existed since the 2010s and with the popularity of CSGO gambling. Online gambling in general was not nearly as common back then as it is now.
However, during the last five years or so, cryptocurrency casinos and gaming websites have seen a sharp increase in popularity. They are now considered safer to use, are much more controlled, and much more individuals are exposed to them.
Despite these website updates, some individuals are still having issues with the rise of Twitch live streams for crypto casinos. Given that Twitch is contemplating outlawing all live streams of cryptocurrency gambling, the opinions of these folks could have some weight.
Ban on Crypto Gambling Livestreams by Twitch
Rumors have surfaced that Twitch may be bringing down the ban hammer in reaction to the spike in popularity of crypto gambling livestreams. To put it another way, the firm is considering outright banning any gambling livestreams, especially those that feature bitcoin gaming.
So, what exactly led Twitch to prohibit these streams?
Quite a few Twitch broadcasters, some of whom are quite well-known, have attacked the website in the last few weeks for allowing these livestreams to go unchecked. The Platform was considering ending these kinds of livestreams exactly because of these objections.
According to the theory, more and more individuals are becoming “hooked” on crypto casinos and gambling in general as a result of the popularity of these broadcasts. Many of the more well-known influencers have argued that Twitch users are often too young to be utilizing crypto casinos and that they are not safe.
There are a few issues with this reasoning, though. For starters, crypto casinos must go through the same licensing and registration procedures as any other online casino.
A casino may only receive a license after meeting strict requirements for fairness, security, and safety. In other words, as long as a crypto casino is licensed, it is just as safe as any other online or even physical casino.
There shouldn’t be an issue if these Twitch streamers are providing content from crypto casinos that have the necessary licenses.
Regarding spectator age limitations, the majority of online crypto casinos have them (again, just like any other casino). These limitations specify that you must be a specific age to participate (usually 18, though it has been known to be higher sometimes).
And the majority of websites with a license will need concrete verification of your age. So if anybody is “lured” to the cryptocurrency casinos by these Twitch streams, it is adults.
Though many people are still outraged, Twitch’s gambling practices are undoubtedly shifting.
Twitch Reassesses Its Position on Gambling
Gambling live streams have been taking place on Twitch for the previous few years, unregulated. The corporation is only now vigorously combating these crypto gaming streams as a result of a community backlash.
According to a statement from Twitch, the company will be reevaluating its position on gambling in the future. This might result in a total ban on gambling for Twitch shows.
While many feel that the new policy is a bit too little, too late, others are not happy with it.
Quite a number are arguing that Twitch ought to prohibit these feeds. Naturally, the business must stop any information that promotes illegal gambling, and this obligation has been established and is being upheld by the company’s policies.
It is worthwhile to have a discussion about whether the business should outright forbid gambling.x
As we previously said, all legally operating gambling companies will need users to provide actual evidence of their age. This indicates that the target audience for these games is only adults.
Thus, the question arises: Should we regulate the interests of adults who wish to engage in gambling? Although we are unable to provide a conclusive response, it is undoubtedly a topic worth discussing.