The live streaming platform owned by Amazon.com Inc (NASDAQ: AMZN) was receiving pushback from some of its most influential users due to the company’s inactivity on a developing problem.
The cryptocurrency sector has had a rough go over the past few months.
The young industry is facing a growing number of challenges, including falling prices, the proliferation of scams, bankruptcy filings by prominent lenders and platforms, ominous comments from regulators suggesting stricter rules, caution from institutional investors, and the departure of millions of small investors who have lost both their funds and their faith in the industry.
Add to this already extensive list the significant defeat suffered by a rapidly expanding sector of the cryptocurrency sphere: gaming. Amazon.com Inc’s (AMZN) live-streaming network, Twitch, has just decided to exclude many of the most well-known live-streaming gambling websites from its service.
Twitch will no longer permit websites like Stake.com, Rollbit.com, Duelbits.com, and Roobet.com, all of which market themselves as virtual casinos and locations where users may gamble using cryptocurrencies and non-fungible tokens.
Amazon.Com Inc’s Twitch On The Possibility Of Banning Other Players
Twitch said that this ban would go into effect on October 18 in a statement on Twitter on September 20.
“Although we do not permit sharing links or referral codes to any website with slots, roulette, or dice games, we have seen some users get around those regulations, which exposes our community to the possibility of damage,” the platform warned.
Amazon.com Inc said, “Therefore, on October 18, we will be releasing a policy update to restrict streaming of gambling sites that involve slots, roulette, or dice games that aren’t regulated.”
It included: “Stake.com, Rollbar.com, Duelbits.com, and Roobet.com are going to be some of the websites that make up this group. However, if we continue, we could discover further possibilities.”
The news comes after several days of mobilization on the part of users, especially celebrity streamers, who have generally condemned the authorization of gambling on the network.
On the other hand, the new complaints have been spurred by the revelation that one of the streamers appears to have defrauded others out of significant sums of money to feed his addiction to gambling.
It all began with a stream uploaded by ItsSliker, a streamer based in the United Kingdom and has more than 430,000 subscribers. The streamer known as ItsSliker, who rose to prominence in 2019, is most frequently seen participating in gambling games such as Valorant and Counter-Strike: Global Offensive.
It is alleged that he deceived fans of his Twitch channel and other influential people into giving him enormous quantities of money as loans.
ItsSliker said that his bank account had been blocked and that he needed assistance while the account was in this state.
The Increase of Cryptocurrency-Based Gambling
Recently, he admitted in a video that he had a gambling addiction and borrowed hundreds of thousands of dollars from other producers to support his gambling on sports. He added that he did this to feed his habit.
Recently, the hashtag #TwitchStopGambling has been making its way across various social media platforms.
As news of the incident spread, prominent members of the Twitch community, such as Pokimane, Devin Nash, Mizkif, Ludwig, and Hasan Piker, called on the corporation to prohibit gambling on the site, and some of them threatened to go on a boycott for a week as a form of protest.
Bets in cryptocurrencies are being placed on slots, blackjack, and other games of chance that are being streamed live on Twitch, and thousands of viewers are tuning in to witness the action. Bloomberg reports that Stake.com pays top influencers a monthly salary of one million dollars to promote them.
On Twitch, gambling with cryptocurrencies such as bitcoin, ether, and other currencies is becoming increasingly popular and now ranks among the platform’s most popular categories.
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