Investigation: Illegal Streams funded by crypto and gambling sites
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22 May 2024 •
Reading time: 2 minutes Oleksandr Usyk and Tyson Fury faced off last weekend in a fight for the undisputed heavyweight championship. An estimated 20 million people watched the match illegally via livestreams, costing rights holders a staggering €105 million. And it was largely funded by gambling companies and crypto brokers.
Gambling and Crypto Companies are everywhere
A striking aspect of the illegal streams is the funding. Many of the streams were sponsored by ads from gambling companies and crypto brokers. These companies capitalize on the huge interest in the fight to promote their products and services to a wide audience and hoped to attract new customers.
Yield Sec conducted research on behalf of The Daily Mail Online. The online content security company analyzed that 45 percent of illegal streams took place in Europe, 25 percent in North America, and 16 percent in Asia.
Gambling and Crypto Companies benefit most
The involvement of gambling and crypto companies in illegal streams is problematic. These companies often operate in a gray area and profit from illegal activities. This can lead to addiction problems and financial harm for consumers.
Boxing World Loses Millions in revenue
The illegal streams are a huge blow to the boxing world. Rights holders are losing millions of euros in revenue as a result, which could lead to less investment in the sport and lower payouts for boxers.
Call for explanation from Gambling and Crypto Companies
Boxing match organizers and streaming services that hold the rights are urging fans to stream the matches legally. This is the best way to support the sport and ensure that boxers and others involved in the sport get a fair reward.