A number of Twitch fans have recently come out to confess how Twitch streamers influenced them to dive head-first into online crypto gambling. These audience-turned-gamblers are now on a gambling spiral that some result in bankruptcies. This thread of bankruptcy can be traced to Twitch streamers partnering up with crypto casinos.
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Many would expect Twitch to be more on games with exciting gameplays like adventure games, sandbox games, and even first-person shooter games. Surprisingly, casino 'slots' games have been in a surge of viewers greater than those of Dota2 and Fortnite.
Twitch 'Slots' Gains More Viewers Than Fortnite & Dota 2
According to a report from PC Gamer, Twitch's 'Slots' category, where its gambling material is housed, is the seventh most popular one. This is likely related to the absurdly affluent marketing agreements that some of Twitch's most well-known stars, such as xQc, Trainwreckstv, and others, negotiate with crypto gambling sites to promote their services to audiences that number in the millions.
It is extremely difficult to pinpoint who is to blame for this gambling phenomenon. It could be the gambling companies that pour millions of dollars into advertising and sponsorship deals. Some may blame the streamers who persuaded their fanbase to participate in the gambling craze. It is also not possible that it is the fault of the impressionable Twitch fan who unknowingly falls into a bottomless pit of gambling and bankruptcy.
Some fans tell otherwise. This boom of Twitch gambling streams should be a matter subjected to Twitch's responsibility. Some users believe that the streaming platform should set initiatives to regulate the operations of crypto gambling sites.
Twitch Gambling Streamers Lure Fans to Dive Into Crypto Casinos
A news commentary from Bloomberg highlights that many streamers in the form of gamers and celebrities embark on Twitch to gamble for hours on end in front of hundreds of fans watching live. According to the report, these gambling streamers receive millions of dollars in advertising deals from offshore crypto casinos, leaving these online celebrities to gamble with millions of dollars in brand deals.
Also mentioned in the report, Twitch may discontinue offering gambling at some point. The company has since decided not to allow sharing links or referral codes for gambling companies, which the streaming platform says was done "to address scams and other harms associated with questionable gaming sites." A Twitch spokesperson claims the company is "currently in the midst of a deep-dive look into gambling behavior on Twitch."
To put it in simpler language, gambling companies pay Twitch stars to advertise their gambling business through streaming their crypto casinos. Aside from these, these Twitch streamers can also share custom codes with their audiences, where they can also earn plenty. Impressionable viewers then go on to dive into these sketchy online casinos to try their luck in raking in millions like what their favorite streamers did.
Having numerous of its users fall into the crypto-casino trap is a bleak reality for Twitch. The streaming giant should be doing something now to address this concern.
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