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    Twitch gamblers: Are big wins at crypto casinos fake?

    news thumbnail image

    The strange world of crypto casino live streams on Twitch are causing red flags to go up for those in the industry.

    The world of online gambling seems to be changing daily. Where one fire is put out and regulations are put in place, another issue seems to spring up just as quickly.

    One of the most recent trends to take the industry by storm is the use of cryptocurrencies and the rise of crypto and Bitcoin casinos. With this, live streaming through Twitch while playing at these crypto casinos is also on the rise. But there's something unsettling about these so-called big winners.

    Big wins or big fakes?

    Recently, a number of Twitch streamers with large audiences are spending hours (up to 12 hours a day) playing casino games at crypto casinos. These streamers blow through funds at an alarming rate with very little thought behind the massive bets they place.

    Streamers such as Richard “FaZe Banks” Bengston are known for placing bets worth thousands of dollars and immediately losing the funds. Or they win sums worth hundreds of thousands of dollars - all in the name of driving viewers to these casinos.

    There are a number of disturbing issues about these streams. Here at CasinoWow, we'll take a closer look at why these streamers are problematic.

    1. The casinos are illegal

    Regulations and laws surrounding online gambling are strict, especially within the US. However, these streamers are accessing the sites using a VPN as they are not legal within US borders.

    By playing these games online and encouraging their viewers to do the same for a big bonus or sign-up rewards, they are essentially advertising illegal gambling - and getting paid mind-blowing sums of cash for doing so.

    One gambling streamer by the name of Adin Ross was offered between $1.4 million and $1.6 million a month to stream online slots on Duelbits. With money like that on the line, streamers are willing to break the law to keep the cash rolling in.

    2. It all appears to be fake

    The large bets, the massive losses and wins, and the bankrolls filled with cash all appear to be fake. It's been revealed that many of these streamers are being paid massive amounts of money by the casinos to play games live on stream and they do so with cryptocurrency provided directly from the casino.

    3. The viewers are underage

    The community on Twitch is made up of viewers that range between 13 and 17 years old. Twitch has a "slots" category where these streams can be found but there's no age restriction. This means that there's a very good chance that at least a fifth of the more than 1.5 million followers streamer Tyler Niknam has on Twitch are underage.

    4. Twitch allows these streams to continue

    Promoting gambling at illegal casinos to viewers that are nowhere near being of legal age should all be a massive problem. And yet, Twitch allows the streams to continue. According to Twitch, they don't condone illegal content.

    "We strictly prohibit illegal content and activity on the service and take action in all verified incidents of illegal gambling that are reported to us. Our Community Guidelines make clear that '[Streamers] must respect all applicable local, national, and international laws while using our services. Any content or activity featuring, encouraging, offering, or soliciting illegal activity is prohibited.'"

    While not all streamers can be painted with the same brush, as there are those who genuinely live stream games of chances at legal online casinos with their own money - the same can not be said for many of these high-profile players.

    False funds and shady casinos are all being used to lure in new players who could be at risk of developing problem gambling. While the rise of the crypto market is exciting, harmful practices such as these could be the reason it's shut down before it even has a chance to really begin.

    Published: August 9, 2021

    Anything incorrect or missing?

    Let us know

    Article by Stelly

    CasinoWow Contributor

    Hey there! I am Stelly, and happily, I'm part of CasinoWow's content team. It excites me to be able to write and share with all gambling enthusiasts unbiased reviews and news that contribute to the gambling community and industry. Thankfully, I also have the chance to help you make an informed choice for casino brands and games, as well as provide interesting guides and news.

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