The rise of online gambling isn’t anything new. India has experienced it too. For the past decade or so, the Indian youth has been bombarded by online casinos with promises of life-changing riches. While that’s not particularly true, casinos do offer a virtual escape for players looking to score the next big win. Some are successful, others less so, but the fact remains that the gambling industry has fully shifted its focus online and evolved.
The law can do nothing about it. India’s outdated legislation simply doesn’t include online gambling, and it’ll be a while before the government does anything about it. That has opened the door to many new ways of gambling, including the use of cryptocurrencies. Crypto casinos are the new black. If you read a Bitcoin casino review, you’ll see special terms thrown around such as Provably Fair gaming players believe in. And the truth is that they are great, pushing the online gaming landscape to new heights.
And they’re not just popular on the web. Crypto gambling’s influence is reaching new heights, including being the media darling of streaming channels such as Twitch.
How Did it Begin?
The rise of crypto gambling on Twitch streams is well documented. It began a few years ago when some streamers were approached by gambling companies looking to boost their revenue source by tapping into a new customer stream. For those unaware, Twitch is a streaming platform where millions of users stream videos of their live gameplay of popular games. Now, while slots are not video games, they do fall into the entertainment category. Since casinos like to be advertised as entertaining, it was a match made in heaven.
Twitch users make money by getting their videos seen. This means that they do their utmost to be original and fun so others can subscribe to the channels. Demographics show that younger viewers are attracted to the platform, watching streams of hit games such as Grand Theft Auto or Overwatch. This is the same generation that would be very interested in fun slots, and that’s what the online gambling industry was aiming for. We can safely say it hit its intended target.
For example, you might see the controversial Roshtein playing slots and winning big, which is the perfect example of how crypto gambling works on Twitch. It’s just like streaming a video game, except you’re watching a stream of slot, poker, blackjack, or whatever the streamer agrees to.
In only a couple of years, gambling on Twitch rose to the seventh-most popular category. And it’s not just gambling in general, but crypto gambling more specifically. Cryptocurrencies are the next big thing in online gambling, and online casinos have found the perfect scene to promote their use.
Fully Digital Game of Chance
Twitch is going through a renaissance because of crypto gambling right now. There have never been more streamers paid to promote crypto casinos, although it has sparked a debate about the morality of it. It has certainly raised the eyebrows of the authorities, but they seem powerless to prevent it from happening.
The main concern is that the young generation has unlimited access to crypto gambling streams, which promotes the use of cryptocurrencies in casinos. Many are concerned about the effect it might have on the younger population, considering the obvious dangers of gambling addiction. While some streamers are against it, others, like Roshtein, accept the opportunities with open arms. They are selling their brand for a lot of money. By a lot, we mean millions, although there’s no word on how large these deals are. But, many streamers have confirmed they are getting a lot of money, and considering their spending on the channels, they surely got paid.
Twitch’s terms of service prohibit any illegal activity, but crypto gambling streams are not banned. Crypto gambling is allowed on Twitch, and to be honest, it might be too late to stop it. Casinos are always looking for innovation, and they’ve finally found a new stream of revenue. Sure, it costs companies a lot, but they have the money to burn and the streamers to talk to. As we said, it’s a match made in heaven, no matter what we or you think about it. And it’s going to get a lot bigger.