Twitch will ban crypto gambling live streams after recent multi-million dollar sponsorship deals by Twitch stars drew criticism.
Twitch is an internet platform where users can broadcast videos live and interact with viewers. It is owned by Amazon. Going forward, the company will ban live streaming from gambling sites like Stake.com, Rollbit, and Duelbits.com, which "are not licensed in the United States or other countries that provide adequate consumer protections," Twitch said in a statement posted on Twitter. Stake.com, the most popular of these sites, is licensed in Curacao. The ban comes into effect on October 18.
"While we prohibit the sharing of links or referral codes to any site containing slots, roulette or craps, we have seen some people circumvent these rules and expose our community to potential harm," the statement said.
According to TwitchTracker data, it's almost as popular at gambling watching like video games. At any given time, over 50,000 people are watching popular Twitch streamers play slots, blackjack and other gambling games, mostly played with cryptocurrencies like ether and bitcoin. Sites like Stake.com sponsor the biggest influencers with more than a million dollars a month, according to a well-known streamer.
Both Twitch streamers and fans have spoken out against gambling live streams. This week, several Twitch stars collectively threatened to stop live streaming on the site unless Twitch cracked down on gambling. According to Bloomberg news agency, some fans have become addicted to crypto gambling after watching their favorite streamers.