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Beware of the wolf in Twitch attire

There is nothing wrong with finding new and creative ways to attract customers to a company. Going where consumers are to maximize exposure is always important. However, it’s also important to follow the rules, especially when reputation decides who will and who will not succeed. Some iGaming operators seem ambivalent about the need to comply, which is why they are likely not an ideal choice for gamers. If they don’t bother to play by the rules, there is no reason to believe that they can bother to properly conduct their activities, including making withdrawals.

iGaming operators play games

An exposé from Wired Magazine highlights one of the potential problems the iGaming industry is facing. It cites the case of a popular Twitch streamer, Tyler “Trainwrecks” Niknam, who was tapped to promote Stake.com to its 1.5 million followers. Trainwrecks reportedly spent hours streaming their time on the site’s virtual slots, sometimes making “up to $ 400,000 in crypto in one fell swoop.” Anyone who has spent even 30 minutes on a slot machine knows that it is virtually impossible to do so.

Practically impossible, but not entirely impossible. Add to this, however, the fact that Trainwrecks, who may have made “tens of thousands of dollars an hour,” is from Texas, a state that adamantly insists that casinos and sports betting are never allowed. Not even a mega-million campaign from Las Vegas Sands was enough to make lawmakers rethink. Instead of using a streamer in a jurisdiction where their platform is legal, Stake.com reached out to someone in an illegal state – from a gambling perspective – to promote their website. This, according to some legal experts, is the same as promoting illegal gambling. That would mean, if the experts are right, that both Stake and Trainwrecks are involved in conducting illegal activities. Wired tried to get feedback from Stake and Trainwrecks, but none responded before the story was published.

The Twitch, Crypto and iGaming triangles

Twitch is arguably the most popular streaming platform, iGaming is arguably the most accessible form of gambling around the world, and cryptocurrency makes it easy for gamers to play. There’s an intrinsic connection between the three, and Wired points out that “64 of the 1,000 most traded Twitch streamers” are sponsored by crypto iGaming sites or have streamed crypto slots. It’s big business, with a website, Duelbits, reportedly ready to pay Adin Ross, a popular gambling streamer, up to $ 1.6 million each month to stream the operator’s slots. As with Stake and Trainwrecks, neither Ross nor Duelbits responded to a request for input from Wired.

Stake and Duelbits do not operate any illegal gambling sites – they are fully licensed by Curacao. However, they are not licensed for US customers. However, their promotional tricks are somewhat questionable and, according to Keith Whyte, come with great risks. The Executive Director of the National Council on Problem Gambling said, “Much of the gambling advertised on Twitch is illegal or unregulated and poses clear risks for consumers, vulnerable adults and adolescents or minors. It’s a fairly common tactic in the unregulated gambling industry to increase win rates. ”It can be said that increasing win rates is at least one example of questionable ethos. This can be a problem for gamers, but it can also be a problem for the websites. If you ever want to get into the legal US market, you will learn that getting a license is not that easy.

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