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Twitch streamers make millions off Crypto gambling boom


Isaac
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https://esports-news.co.uk/2021/07/02/save-the-kids-cryptocurrency-scandal-faze-influencers-opinion/

 

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In a nutshell, a cryptocurrency token called ‘Save the Kids’ ($KIDS) was peddled by huge influencers. Those accused include Brits FaZe Jarvis (who was banned from Fortnite in 2019 for using an aimbot), FaZe Kay and Joel Morris of UK-based YouTube academy Xcademy, as well as others: FaZe Nikan, FaZe Teeqo (who was later found innocent), Ricegum and Sommer Ray.

 

Joel Morris has since stepped down from his role at Xcad Network, while FaZe Kay urged his fans ‘not to believe what you’re hearing online’ and that a ‘dishonest person abused his trust’ with Kay to ‘scam everybody and make six-figure profits’. Kay added in this video that lawyers are involved and working with authorities and that he is conducting an investigation to find out exactly what happened.

Save the Kids was billed as a Bep-20 token ‘redistributing wealth’ to both hodlers and charities via the Binance Charity Wallet (‘hodlers’ is a term with an intended typo used to describe those that hold on to a particular token rather than sell it).

 

Once the influencers had promoted this to their millions of followers, who began buying in, several of them then ‘pumped and dumped’, i.e. sold large amounts of the token in order to make money from it. This crashed the value of the $KIDS token from $0.0029 to $0.0012 in about a week, leaving many who bought in with a worthless crypto.

 

Pretend to do something for a childrens charity and then make millions of it, and get to keep all of it, because crypto is an unregulated shitshow.

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18 hours ago, Isaac said:

https://www.wired.com/story/twitch-streamers-crypto-gambling-boom/

 

 

TL:DR - Twitch Partners (streamers with thousands of subscribers and viewers) are spending more and more time livestreaming crypto gambling on the site, for huge backhanders from said gambling companies.

 

They are often gambling with house money, rather than their own.

 

In addition, there are rumours that the games are rigged to have bigger/more regular pay outs.

 

I don't even know where to start with how grim and illegal this shit is.

 

Maybe this belongs more in Off Topic, wasn't sure.

I've been watching this guy and his mate Roshtein for a while now. I enjoy watching the slots and it's stopped me playing them myself.

However, it is so rigged its unreal. Rosh wins a million euros for a 400 euro spin and then comes back for another 12 hours the next day. Nearly all of them are sponsored by Stake these days.

Guys turning over literally millions and wearing nearly the same clothes very day. And they all live in Canada or Malta. Where the online casinos are based. Not fishy at all. 

 

This has been happening for years, but it was sort of believable when it was 5 and 10 euro bets. now they are spinning 500's like its no thing, its getting silly. 

 

The funny thing is the kafabe, its exactly like wrestling. Anyone in chat suggests it's not real is instabanned.  And now they are crypto based, it's easy to be playing with "real" money. I get a wallet, drop a load of money in it, give it to you, You deposit back into my casino, and the circle continues.

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I can't really see Twitch doing much about this. They've always had a gambling/casino section on their site and there's little incentive to nuke these crypto streams when they are getting so many viewers out of it. I think only if there's a big backlash on this they'd do anything about it, and even then I don't know if it breaks their terms of service. So I guess the only thing folks who are against this can do is to apply pressure to both Twitch and the streamers to knock it off. 

 

As for legal matters, are Twitch actually breaking any laws here? Even if they were, what's to stop them just cutting off feeds for certain countries and keeping them for countries with laxer laws?

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20 minutes ago, Alan Stock said:

I can't really see Twitch doing much about this. They've always had a gambling/casino section on their site and there's little incentive to nuke these crypto streams when they are getting so many viewers out of it. I think only if there's a big backlash on this they'd do anything about it, and even then I don't know if it breaks their terms of service. So I guess the only thing folks who are against this can do is to apply pressure to both Twitch and the streamers to knock it off. 

 

As for legal matters, are Twitch actually breaking any laws here? Even if they were, what's to stop them just cutting off feeds for certain countries and keeping them for countries with laxer laws?

 

Do they track the ages of people registered to the site?

 

If so, do they hide all gambling content from anyone under the age of 18?

 

If not they are breaking a few laws here at least.

 

If the people playing the games are doing so with dodgy odds to present them as winning more often than actual players they are breaking some serious US laws and pretty sure some serious ones over here too, even if they are just a content provider.

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45 minutes ago, ThePixelbarks said:

Ah mate, that's such a terrible fucking take. 

This crypto scam isn't something that Twitch need to look into, this is a job for the law.

Agreed , maybe i didn't explain myself very well. The question was should Twitch look into it and my point is that the hot tub thing should really be a over 18 area. 

As for the gamblers, the crypto thing is one area, the other is the fact that all these bods cannot be losing / winning on their own coin, despite saying they are. This in itself is encouraging to others, as has been said elsewhere.

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This all sounds like the digital equivalent of the stooge who conveniently wins a few turns on the shell game to encourage actual punters to try their luck.

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10 minutes ago, JohnC said:

What’s this hot tub thing?

 

e-Girls were using Twitch's audience of horny pubescent teens to push their onlyfans by streaming themself in a hot tub and jiggling about.

 

One went from nowhere to 13 million subs, becoming the most-watched female streamer worldwide doing it, before Twitch quarantined it out into it's own category that couldn't get on the front page.

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9 hours ago, Isaac said:

 

Do they track the ages of people registered to the site?

 

If so, do they hide all gambling content from anyone under the age of 18?

 

If not they are breaking a few laws here at least.

 

If the people playing the games are doing so with dodgy odds to present them as winning more often than actual players they are breaking some serious US laws and pretty sure some serious ones over here too, even if they are just a content provider.

 

No proof of dodgy odds, but it's fairly well known that a lot of the streamers are pretending to be using their own money. The gambling sites load their accounts with 'cash' to make the streams more dramatic and thus give their advertising a larger audience with a higher conversion chance. They've been doing it for years and Twitch don't give a fuck.

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17 hours ago, carlospie said:

I'm convinced the FIFA streamers get free money and loaded packs too

I thought that was pretty much a given, like any game with a significant pay to win element? Once you get a certain size audience companies through this stuff at you so you can keep promoting it. 

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22 minutes ago, Gabe said:

I thought that was pretty much a given, like any game with a significant pay to win element? Once you get a certain size audience companies through this stuff at you so you can keep promoting it. 

Yeh but it's never officially started anywhere. At the start of FIFA all the big streamers claim they bought all their points. Iv seen Castro get sent various cards by ea though so they can definitely manipulate packs.

 

Kinda like all the fake natty bodybuilders on YouTube I guess.

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