Counter-Strike Skins Drive Twitch Streaming Gambling

Counter-Strike Skins Drive Twitch Streaming Gambling

  • Twitch, the popular streaming site where millions of users spend hours every day watching live feeds of their favorite gamers or even completing math problems in real time, has recently witnessed the rise of cryptocurrency gaming, including bitcoin casinos and sports betting.
  • It can be traced back to websites that offer Counter-Strike Skin gambling.
  • Sponsorships on Stake.com are profitable, yet all of its streamers have relocated to Canada.

 

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Tracing Origins to Counter-Strike

Bloomberg video game reporter D’Anstasio stated in a podcast for Bloomberg Crypto that crypto gambling did not originate from crypto but rather from Counter Strike Skins, the wildly popular first-person shooter game in which players love to “dress up their guns with so-called skins and the lucrative marketplace where they can sell and buy these skins.

She continued by citing websites she discovered several years ago that offered the chance to “earn” skins by playing roulette. These websites were lucrative and operated by large corporations, but the most important aspect was that people under the age of 18 also participated, which is alleged “a problem by legal standards” that resulted in numerous lawsuits. D’Anstasio responded to the subject of when exactly Twitch crypto gambling became popular by stating that some of the skin gambling sites had switched to crypto gambling websites.

“Crypto gaming is an intriguing phenomenon,” she added, explaining that it is not legal anywhere in the United States because it is regulated on a state-by-state basis and “no state has yet considered it legal.” 

She then shifted her attention to offshore companies, singling out Stake.com, which is incorporated in Curacao and offers roulette, slots, and blackjack, but players wager with cryptocurrency instead of real money; this appears to be a continuation of Counter-Strike Skin gambling because it is not real money. She further claimed that because crypto gambling is a gray area, it permits gamblers under the age of 18 to participate.

She did not pass up the opportunity to criticize Drake and his association with Stake.com, pointing out that his initial gaming amount some months ago was $9 million and that his roulette bets ranged from $300,000 to $1 million.

Under the Radar of the Regulatory System

D’Anstasio explained that Congress and the American Gaming Association (AGA) are focusing on illicit sports betting rather than crypto gambling. The host then inquired about the mechanisms that enable crypto gambling companies to verify whether a player is playing from a legal state or not.

When asked about the international legality of crypto gambling, she emphasized that all players who stream gambling material on Twitch and are sponsored by Stake.com have relocated from the United States to Canada.

 D’Anstasio stated, in response to a question about the economics of Stake.com sponsorships, that she knows a streamer who has been paid $90 million to stream crypto gambling content, and that’s not even the largest offer; others are making several million dollars each month.

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About Lou De Aguila

Lou Aguila is a contributor to Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.