Home » Google to Start Blocking Cryptocurrency Ads
Google to Start Blocking Cryptocurrency Ads
Recently updated on March 15th, 2018
The most widely used search engine in the world, Google, has announced a big change for advertisers through a blog post. Starting in June, the Internet giant will begin blocking ads from ‘unregulated or speculative financial products.’ This change means that ads for services like cryptocurrency exchanges, the currencies themselves and initial coin offerings will be blocked.
What’s more, trading advice ads and those from spread betting sites will also be affected. Also on the list are foreign binary options, exchange markets, spread betting, and contracts. Google’s crackdown is apparently due to a growing number of online scams from these ads. They also have proof of these instances spanning years, according to reports.
Cryptocurrency Services Unregulated
Despite the promising start to 2018 for Bitcoin, hundreds of similar cryptocurrency options have tanked the market. Part of the problem is that the market is unregulated, and that means that many ‘fake’ currencies are being offered. Additionally, the presence of ‘spread betting’ has affected the value of many cryptocurrencies.
Spread betting is when punters place bets on the movement of assets. Combined with ‘contracts for difference,’ these bets can make or break an industry. A familiar example of this would be skin betting, which is now considered a form of gambling. This was after the Isle of Man issued the first-ever license for the practice. Skin betting is when players gamble on rare items from online video games through third-party sites. The practice has caused a lot of controversy, but is slowly becoming regulated.
Other ads removed by Google
This will not be the first time that Google has removed controversial ads from their search engine. In 2017, the company moved to block more than three billion ads from its network. This amounts to almost 100 ‘bad ads’ per second. These ‘bad’ adverts were violating Google’s advertising policies. What’s more, they removed 17 million ads in 2016 that promoted gambling services. So, the move is not unusual for the tech company.
While they will be removing cryptocurrency ads and other ‘scam’ ads, Google has also decided to allow certain forms of regulated gambling ads. Unlike spread betting, skin gambling has a ‘real world value,’ allowing it to be advertised on Google. Other additions to their policies are allowing rehabilitation services to advertise to gamblers who might have an addiction. This might allow problem gamblers to be reached by these services. Keep visiting New Zealand Casinos for updates on this story.
Taralynn Engels is a seasoned casino news writer with a passion for keeping her readers up-to-date with the latest happenings in the gambling industry. With over five years of professional writing experience, Taralynn has developed a deep understanding of the casino industry and a knack for delivering engaging and informative content. Aside from her in-depth knowledge of the casino industry, Taralynn possesses excellent writing skills that allow her to craft captivating narratives that keep readers hooked until the last word. Her ability to simplify complex concepts and present them in an accessible manner guarantees that her articles are enjoyed by both seasoned casino enthusiasts and newcomers alike.
Recently updated on August 10th, 2019A glitch in Grand Theft Auto (GTA) Online’s Diamond Casino has made players who gamble on horse races richer. It was discovered that players who have been betting low on horse races were winning the maximum payout. The bug was only detected on the PC version of the game. If […]
Recently updated on March 28th, 2018In the aftermath of the mass shooting in Las Vegas last year, many have questioned the security measures of the Mandalay Bay hotel. On October 1st, Stephen Paddock opened fire on a country music festival from his hotel room. Paddock killed 58 people before turning his gun on himself. A […]
Recently updated on March 25th, 2019If you are one of New Zealand’s top sports betting fans, then you are at the right destination as we have something to share which might excite you. One of the top online casino software providers, Microgaming, has launched a new sports-betting themed online pokie called Bookie of Odds. The […]
Recently updated on February 1st, 2018It’s been a quiet start to 2018 for Australian gaming firm Crown Resorts Limited. The casino operator was in the headlines for most of 2016 and 2017 following the Macau arrests of 18 employees. Since then, they’ve run into trouble with Australian authorities and investors. In the case of the […]
Recently updated on July 4th, 2019The owner of the Paddy Power brand, Flutter Entertainment stated that he didn’t understand the reason for the increased shares. On the other hand, there have been rumors that another business could have an interest in the Irish gambling company. The large outflow in the share price of the behemoth, […]