Gamblers Buying Crypto Casino Accounts on Social Media

A new phenomenon

UK gamblers are reportedly buying access to illegal cryptocurrency casinos through social media platforms. Sky News revealed that people can purchase accounts for as little as $10.

These gambling platforms use cryptocurrencies; they are neither regulated nor legal in the UK. Many prominent influencers promote the sites, including livestreamers like xQc and Trainwreck, as well as superstar rapper Drake.

without going through a signup process or providing any personal information

When someone illegally purchases access to an account for a crypto casino, they can begin gambling without going through a signup process or providing any personal information.

Anti-gambling advocates claim that crypto casinos can be a lot more dangerous than regulated platforms as they are often more easily accessible to children and gambling addicts. Responsible gambling tools like bet limits or session time limits are not typically options and addicts who are self-excluded from all UK-licensed gambling sites through GAMSTOP can get around this block by using offshore sites.

Looking into the trend

Sky News carried out its own research into the matter over three months, including analyzing hundreds of social media ads and speaking with both sellers and buyers of the accounts. While the majority of the ads were on Discord and Facebook, they were also found on TikTok, X, Reddit, and Telegram.

did not discover any evidence that the crypto casinos were aware of the ads

The most popular crypto casino advertised was Stake, which has partnerships with many notable streamers, sports teams, and celebrities. Sky News did not discover any evidence that the crypto casinos were aware of the ads or endorsed them.

The news outlet contacted Stake about the issue; the operator said that it is aware of fraudulent attempts to access its online platform and that it’s constantly looking at ways to prevent this from happening.

A dangerous precedent

When someone in the UK tries to access a crypto casino they will often get an error message saying that the platform is not available in the region. Many online casinos also require users to provide a photo ID when creating an account to prove they are who they claim to be.

The illegal accounts that can be bought for as little as $10 already come with this photo verification step completed. Some premier accounts are available to purchase for thousands of dollars, providing addition benefits like cash back.

MP Carolyn Harris, who leads a gambling-related harm parliamentary group, believes that crypto casinos and social media platforms need to share the blame. Sky News reported the ads to social media companies, leading to their removal from TikTok, Reddit, Discord, and Facebook. X and Telegram did not reply to these requests.

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• Source: https://www.vegasslotsonline.com/news/2024/02/01/uk-gamblers-are-buying-access-to-illegal-crypto-casinos-on-social-media-for-just-10/