BUSINESS
How a Crypto Casino is Cashing In on Your Memes
CuraçaoThu Nov 14 2024
Ever notice how some memes on X seem to have a crypto casino logo stuck on them? Meet Stake, a casino worth over $2. 6 billion, founded by Australian entrepreneurs. They've been using memes to advertise, even though it's legally and morally questionable. Kids looking at memes are now seeing ads for gambling. Stake has a history of weird marketing tricks, like paying Twitch streamers to gamble on live streams. When Twitch banned them, they started their own platform, Kick. Now, they're paying X users to put their logo on memes. This has raised concerns about targeting minors and breaking advertising rules. Even though some users have stopped, the practice continues. The government might step in, but it's complicated by Stake's illegal status in America. Memes are powerful, and using them to advertise gambling can be seen as wrong.
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questions
Is Stake working with tech platforms to secretly evade gambling regulations?
Should there be stricter regulations for crypto casinos targeting younger demographics?
What impact does Stake's controversial marketing strategies have on public perception of the crypto casino industry as a whole?
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