The Boost in Crypto Gambling on Twitch
In May 2022, Canadian rapper Drake signed a deal with Stake.com and streamed its gambling session with a $9 million balance live on Twitch. Coincidence? No, but a really savvy marketing plan that is proving to be rather successful, and very engaging. Even though fiat casino sites, such as Rainbow Spins Casino, still hold force in the mainstream gambling industry, Twitch is the place where younger generations grow fond of crypto gambling.
And it is not only pop stars that sign partnerships for crypto gaming. The truth is, such deals more often involve streamers and e-sports athletes, with massive fanbases on Twitch. After seeing their heroes taking a shot at crypto gambling, it is easy to understand why they decide to follow in their footsteps. However, more often than not, potential crypto gamers are not aware of the risks involved in crypto gaming.
The Dangers of Gambling on Twitch
Gambling is nothing new to the world of Twitch. After all, in September 2022, the Slots category was more popular than Minecraft, and almost three times as popular as World of Tanks. Numbers don’t lie, but that doesn’t mean crypto gaming on Twitch can’t be deceiving.
One of Drake’s fellow Canadians, who decided to try gaming after watching sessions and sessions on Twitch, admitted it was all because they wanted to feel like part of the community. Furthermore, it took them quite a few losses to realize that celebrities such as Drake and famous Twitchers are compensated for any of the losses, as they don’t play with their own money, and sign lucrative partnerships with crypto operators.
And where is Twitch standing in this entire story? The platform first banned all referral links to casino sites, hoping to prevent any scams, and harms associated with irresponsible gambling. However, it did not remove any gambling categories, and they are still pretty much available to anyone. There isn’t even a signup requirement, and as long as teens click the right buttons, they can watch casino games without any restrictions. Social responsibility is running low at Twitch, or at least, so it seems.
Classic Gaming vs. Crypto Gaming
Cryptocurrencies are here to stay, and it was only a matter of time before they will start spreading across different platforms and services. And while one can argue that gambling is harmful no matter in what shape it comes from, it can’t be denied that certain crypto casino platforms don’t even adhere to the bare minimum of standards.