The Rise of Unethical Crypto Gambling Sites
The emergence of cryptocurrencies as a medium of exchange has led to the growth of the gambling industry, with several crypto gambling sites entering the market. However, the legitimacy of these sites is overshadowed by their unethical actions, as revealed by digital investigations journalist Sanya Burgess.
Genesis of Burgess’ Investigation
Burgess’s investigative piece published by Sky News delves into the unethical practices of online crypto casinos that exploit compulsive gamblers. It all started when Burgess saw a video of music artist Drake promoting Stake.com, a leading crypto casino platform. This sparked her curiosity and prompted her to investigate further into the controversial world of crypto casinos.
Insights into the Crypto Gambling Industry
Crypto casinos are illegal in the UK, yet some online casinos break British gambling laws to gain a share of the British gambling market. These casinos sponsor influencers to live stream themselves gambling with “fake” money, often without disclosing this detail. Viewers who are unaware of this may place bets in hopes of winning money, falling into the addictive business model of these casinos.
Burgess highlights an addict who relapsed after watching videos of these live streams, unaware that some bets were made with fake money. She also opened accounts on four sites, three of which did not require an address or accept her UK address. Richard Williams, a gambling lawyer, warns that operators and streamers involved in these practices could face criminal sanctions.
The Government’s Response
The UK Gambling Commission has been made aware of Burgess’s findings and is investigating them. The government has praised the investigation, with Health Secretary Steve Barclay stating that his colleagues would be reviewing the findings.
Hot Take: Addressing Unethical Practices in Crypto Gambling
The rise of unethical crypto gambling sites raises concerns about the exploitation of compulsive gamblers and the violation of gambling laws. It is crucial for regulatory bodies to take action against these sites and hold them accountable for their actions. Additionally, influencers who promote these sites without disclosing important details should be held responsible.
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