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{{Short description|Cryptocurrency-based online casino and sports betting platform}}
= Stake.com =


'''Stake.com''' is a cryptocurrency-based online casino and sports betting platform launched in 2017. It operates primarily with digital currencies for deposits, wagers, and withdrawals, positioning itself at the forefront of the crypto gambling industry. Although barred from major markets such as the United States, United Kingdom, and much of Europe (until obtaining some local licenses), it has grown into one of the world’s largest offshore crypto casinos.<ref name="ForbesCryptoBillionaire1">{{cite web |url=https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=US%242 |title=How Stake made Australia's Ed Craven a crypto billionaire |website=Forbes Australia |access-date=14 February 2025}}</ref><ref name="ForbesCryptoBillionaire2">{{cite web |url=https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Just%20over%20a%20decade%20later%2C,3%20billion%20each |title=How Stake made Australia's Ed Craven a crypto billionaire (continued) |website=Forbes Australia |access-date=14 February 2025}}</ref> In 2022, the platform generated approximately US$2.6&nbsp;billion in gross gaming revenue, reportedly ranking seventh among gambling companies worldwide by revenue.<ref name="Blockworks2.6B">{{cite web |url=https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=entrepreneurs%20made%20the%20most%20of,crypto%20casino%20Stake%20in%202017 |title=Crypto Casino Stake Made $2.6B in Gaming Revenue Last Year |publisher=Blockworks |date=30 January 2023 |access-date=14 February 2025}}</ref> It has become widely recognized through aggressive marketing, high-profile sponsorships, and celebrity gamblers, standing out for merging two controversial domains—online gambling and cryptocurrencies—into a single influential enterprise.
'''Stake.com''' is a cryptocurrency-based online casino and sports betting platform founded in 2017. It operates primarily with digital currencies for deposits, wagers, and withdrawals, positioning itself at the forefront of the crypto gambling industry.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=US%242,3</ref><ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Just%20over%20a%20decade%20later%2C,3%20billion%20each</ref> Its global site is geo-blocked in many major markets due to regulatory restrictions, including the United States, United Kingdom (prior to a separate licensed site launch), and much of Europe. Despite these limitations, Stake.com has grown into one of the world’s largest offshore crypto casinos, reporting approximately US$2.6 billion in gross gaming revenue in 2022—placing it among the top global gambling companies by revenue.<ref>https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=entrepreneurs%20made%20the%20most%20of,crypto%20casino%20Stake%20in%202017</ref> The platform’s success has been fueled by aggressive marketing, high-profile sponsorships, and the rise of celebrity gamblers and streamers. Stake.com combines online gambling with cryptocurrency, making it a pivotal and often controversial player in the sector.


== History and Background ==
__TOC__
 
== Overview ==
Stake.com launched in 2017 and rapidly attracted a crypto-savvy user base by offering “provably fair” in-house games alongside a broader suite of casino offerings and a sportsbook. It remains privately held by its co-founders, Edward “Ed” Craven (Australian) and Bijan Tehrani (American), who have each become billionaires through the company’s meteoric rise.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Between%202020%20and%202022%2C%20Stake%E2%80%99s,for%20a%20combined%20%2476%20million</ref> The core platform is licensed in Curaçao but, in pursuit of regulated market expansion, Stake has obtained or sought local licenses in jurisdictions such as the United Kingdom, Italy, Portugal, and Ontario (Canada).<ref>https://sbcnews.co.uk/sportsbook/2021/12/17/stake-com-commences-uk-sports-betting-and-casino-operations/#:~:text=Stake,UKGC%29%20licence</ref> The company is best known for its sponsorship deals with high-profile athletes, Premier League football clubs, Formula One teams, UFC fighters, and celebrities—including a multimillion-dollar partnership with the musician Drake.
 
== History & Background ==
=== Founding ===
=== Founding ===
Stake.com was founded by Edward “Ed” Craven (an Australian) and Bijan Tehrani (U.S.-born) in 2017.<ref name="DLNewsLawsuit">{{cite web |url=https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Primedice%2C%E2%80%9D%20he%20rejected%20the%20notion,had%20any%20involvement%20in%20Stake |title=Stake.com deadline nears: Billionaire founder sued by ex partner over marketing of world’s biggest crypto casino |publisher=DL News |date=20 July 2023 |access-date=14 February 2025}}</ref> The roots of the platform trace back to the duo’s earlier ventures. As teenagers, Craven and Tehrani met through the online game ''RuneScape'', where they organized an in-game betting ring until the developers banned such activity in 2011.<ref name="DLNewsRuneScape">{{cite web |url=https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=RuneScape%20is%20often%20credited%20as,casino%20within%20the%20game%E2%80%99s%20world |title=From RuneScape to High Stakes: The biggest crypto casino Stake.com sued (RuneScape origins) |publisher=DL News |date=20 July 2023 |access-date=14 February 2025}}</ref><ref name="DLNewsBan2011">{{cite web |url=https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=In%202011%2C%20the%20game%E2%80%99s%20developers,2013%2C%20according%20to%20the%20article |title=From RuneScape to High Stakes: The biggest crypto casino Stake.com sued (Ban in 2011) |publisher=DL News |access-date=14 February 2025}}</ref> In 2013, they co-created Primedice, a Bitcoin-based dice gambling website that gained early traction in the “provably fair” crypto gaming scene.<ref name="ForbesCryptoBillionaire3">{{cite web |url=https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=The%20duo%20began%20dabbling%20with,with%20all%20wagers%20in%20cryptocurrency |title=How Stake made Australia's Ed Craven a crypto billionaire (Primedice origins) |website=Forbes Australia |access-date=14 February 2025}}</ref> Profits from Primedice gave them the capital and experience to expand. By 2016, they established a development studio called Easygo in Melbourne and assembled a team to build a more ambitious crypto gaming platform, culminating in Stake.com’s launch in 2017.<ref name="ForbesCryptoBillionaire4">{{cite web |url=https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=which%20lets%20users%20bet%20Bitcoin,with%20all%20wagers%20in%20cryptocurrency |title=How Stake made Australia's Ed Craven a crypto billionaire (development of Easygo) |website=Forbes Australia |access-date=14 February 2025}}</ref>
Stake.com was founded in 2017 by Ed Craven and Bijan Tehrani, who had previously co-created the Bitcoin dice site Primedice in 2013.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=The%20duo%20began%20dabbling%20with,with%20all%20wagers%20in%20cryptocurrency</ref><ref>https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Primedice%2C%E2%80%9D%20he%20rejected%20the%20notion,had%20any%20involvement%20in%20Stake</ref> Craven and Tehrani had met as teenagers through the online game RuneScape, where they ran a virtual gambling ring until their in-game wagering was banned by the game’s developers.<ref>https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=RuneScape%20is%20often%20credited%20as,casino%20within%20the%20game%E2%80%99s%20world</ref> Profits from Primedice enabled them to form an Australian development company (Easygo) to build a more ambitious crypto-focused gambling platform, culminating in the launch of Stake.com.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=ambitions%20grew%20in%20the%20spring,with%20all%20wagers%20in%20cryptocurrency</ref>


=== Growth Milestones ===
=== Growth Milestones ===
Shortly after launch, Stake.com expanded from a handful of in-house dice games to a wide catalog of online casino games (slots, roulette, blackjack), all using cryptocurrency betting. In 2019, the platform introduced a sportsbook, allowing crypto wagers on major sports and esports events.<ref name="Blockworks2.6B" /> Its user base grew strongly in regions like Latin America, Canada, Southeast Asia, Japan, and Eastern Europe, where online gambling laws were more lenient or operated in a gray area.<ref name="BlockworksLatinAmerica">{{cite web |url=https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=Other%20major%20online%20gambling%20sites,Asian%20countries%2C%20Japan%20and%20Brazil |title=Crypto Casino Stake: Latin America Focus |publisher=Blockworks |access-date=14 February 2025}}</ref>
Soon after launch, Stake.com expanded from in-house dice and “crash” games to hundreds of third-party slot and table games. In 2019, it introduced a full sportsbook supporting crypto wagering on major sports and esports events.<ref>https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=Primedice%20ultimately%20became%20the%20foundation,and%20bitcoin%20cash%2C%20among%20others</ref> During the COVID-19 pandemic (2020), Stake began sponsoring Twitch streamers to showcase its offerings, leading to a dramatic jump in user growth.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Between%202020%20and%202022%2C%20Stake%E2%80%99s,for%20a%20combined%20%2476%20million</ref> By 2022, Stake had reported over US$2.6 billion in gross gaming revenue, making it one of the largest global iGaming operators.<ref>https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=DraftKings%2C%20one%20of%20the%20most,alone%2C%20the%20Financial%20Times%20reported</ref>


=== Timeline of Notable Events ===
=== Timeline of Notable Events ===
* '''2017 – Stake.com goes live''': Co-founded by Craven and Tehrani, drawing on lessons from Primedice.<ref name="DLNewsLawsuit" />
* '''2017''': Stake.com goes live under a Curaçao eGaming license.<ref>https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Primedice%2C%E2%80%9D%20he%20rejected%20the%20notion,had%20any%20involvement%20in%20Stake</ref>
* '''2019 – Expansion of games''': Stake adds thousands of slot and table games plus a sportsbook feature.<ref name="Blockworks2.6B" />
* '''2019''': Introduction of thousands of slot and table games plus a sportsbook section.<ref>https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=Primedice%20ultimately%20became%20the%20foundation,and%20bitcoin%20cash%2C%20among%20others</ref>
* '''2020 – Rapid growth via streaming''': Sponsorship of online gambling streamers on platforms like Twitch drives significant new user acquisition; reported GGR around US$100 million.<ref name="ForbesCryptoBillionaire1" />
* '''2020''': Rapid expansion via online gambling streamers (Twitch), reaching ~US$100 million in annual revenue, with large growth ahead.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Between%202020%20and%202022%2C%20Stake%E2%80%99s,for%20a%20combined%20%2476%20million</ref>
* '''2021 – UK license''': Stake obtains a UK Gambling Commission license, launching Stake.uk.com (fiat-only). Becomes principal jersey sponsor of Watford F.C. in the English Premier League.<ref name="SBCStakeUK">{{cite web |url=https://sbcnews.co.uk/sportsbook/2021/12/17/stake-com-commences-uk-sports-betting-and-casino-operations/#:~:text=Stake%2C%20the%20leading%20crypto%20casino,UKGC%29%20licence |title=Stake.com commences UK sports betting and casino operations |publisher=SBC News |date=17 December 2021 |access-date=14 February 2025}}</ref>
* '''2021''': Stake obtains a UK Gambling Commission license and launches its fiat-based UK site (stake.uk.com); signs sponsorship with Watford F.C.<ref>https://sbcnews.co.uk/sportsbook/2021/12/17/stake-com-commences-uk-sports-betting-and-casino-operations/#:~:text=Stake,UKGC%29%20licence</ref>
* '''2022 – Celebrity & mainstream deals''': Gross revenue surpasses US$2&nbsp;billion.<ref name="ForbesCryptoBillionaire1" /> Signs brand ambassador Sergio Agüero, partnerships with UFC champions, and a US$100&nbsp;million/year deal with rapper Drake.<ref name="IceAguero">{{cite web |url=https://www.ice365.com/en/articles/70923/stake-com-signs-football-icon-aguero-as-brand-ambassador/#:~:text=Cryptocurrency%20betting%20and%20gaming%20operator,global%20representative%20for%20the%20company |title=Stake.com signs football icon Agüero as brand ambassador |publisher=ICE365 |date=22 February 2022 |access-date=14 February 2025}}</ref> Later that year, Twitch bans Stake from streaming, prompting Stake’s founders to help launch Kick.com.<ref name="BusinessInsiderTwitchBan">{{cite web |url=https://www.businessinsider.com/twitch-gambling-ban-how-platform-enforce-new-rules-streams-2022-10#:~:text=Starting%20October%2018%2C%20Twitch%20is,its%20ban%20on%20gambling%20content |title=How Twitch Is Enforcing Its New Gambling Ban With Latest Policy Update |publisher=Business Insider |date=18 October 2022 |access-date=14 February 2025}}</ref>
* '''2022''': Stakes’ revenue surpasses US$2 billion; high-profile deals with Drake, Sergio Agüero, UFC fighters Israel Adesanya and Francis Ngannou; Twitch bans crypto slots streams (citing Stake among them), prompting founders to co-launch Kick.com as an alternative streaming platform.<ref>https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=some%20areas%20of%20the%20crypto,market%20at%20the%20time</ref><ref>https://www.businessinsider.com/twitch-gambling-ban-how-platform-enforce-new-rules-streams-2022-10#:~:text=nearly%2022%2C000%20viewers</ref>
* '''2023 – Major sponsorships & security breach''': Stake sponsors Alfa Romeo’s Formula One team (renamed “Alfa Romeo F1 Team Stake”) and seals a record shirt deal with Everton F.C. in the Premier League. In September 2023, a hack attributed to North Korea’s Lazarus Group compromises US$41&nbsp;million of Stake’s hot-wallet crypto, which the company covers from its reserves.<ref name="BlockworksHack">{{cite web |url=https://blockworks.co/news/stake-hack-lazarus-group-north-korea-fbi#:~:text=The%20Federal%20Bureau%20of%20Investigation,the%20FBI%20made%20this%20determination |title=FBI blames North Korea's Lazarus Group for $40M Stake hack |publisher=Blockworks |date=8 September 2023 |access-date=14 February 2025}}</ref>
* '''2023''': Stake becomes title sponsor of the Alfa Romeo Formula One team; a major hack results in ~US$41 million stolen by the Lazarus Group, though Stake covers user funds with its reserves.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=The%20two%20have%20also%20been,%E2%80%9D</ref><ref>https://blockworks.co/news/stake-hack-lazarus-group-north-korea-fbi#:~:text=The%20Federal%20Bureau%20of%20Investigation,the%20FBI%20made%20this%20determination</ref> 
* '''2024 onward – Regulatory pivot''': With Curaçao overhauling eGaming rules and many countries tightening licensing, Stake increases compliance, KYC, and pursues more regulated local sites.<ref name="ForbesCryptoBillionaireCompliance">{{cite web |url=https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Lately%2C%20their%20focus%20has%20shifted,as%20many%20countries%20as%20possible |title=How Stake made Australia's Ed Craven a crypto billionaire (Regulatory pivot) |website=Forbes Australia |access-date=14 February 2025}}</ref> Alfa Romeo departs F1 at season’s end, leaving “Stake F1 Team” as the nominal name before transitioning to Audi.<ref name="F1Rebranding">{{cite web |url=https://www.formula1.com/en/latest/article/sauber-new-team-name-stake-f1-team-kick-alfa-romeo.3ExVqWTCT8pd7MEd71V5DK.html |title=Sauber rebranded as Stake F1 Team Kick Sauber after departure of Alfa Romeo as title sponsor |website=Formula1.com |date=8 October 2023 |access-date=14 February 2025}}</ref>
* '''2024''': Expanded regulatory push (e.g., Curaçao licensing reform), rollout of more local fiat-based sites, and rebranding of the F1 team to “Stake F1 Team.”<ref>https://www.formula1.com/en/latest/article/sauber-new-team-name-stake-f1-team-kick-alfa-romeo.3ExVqWTCT8pd7MEd71V5DK#:~:text=Sauber%20will%20be%20rebranded%20as,the%20German%20manufacturer's%20works%20squad.</ref>


== Ownership and Key People ==
== Ownership & Key People ==
Stake.com remains privately held, owned primarily by co-founders Edward “Ed” Craven and Bijan Tehrani, who split the business 50/50.<ref name="ForbesCryptoBillionaire1" /> Both are listed among the youngest self-made billionaires globally, each with an estimated net worth exceeding US$1.3&nbsp;billion by 2023.<ref name="ForbesCryptoBillionaire2" /> Craven (Australian, born c.1995) oversees operations from Melbourne, while Tehrani (U.S.-born, c.1993) is based abroad. Their earlier collaboration on Primedice laid the groundwork for Stake’s rapid growth.<ref name="Blockworks2.6B" />
Stake.com’s co-founders and principal owners are Edward “Ed” Craven (b. ~1995, Australian) and Bijan Tehrani (b. ~1993, American).<ref>https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=Stake%E2%80%99s%20founders%2C%2027,now%20considered%20Australia%E2%80%99s%20youngest%20billionaire</ref> They each hold a 50% stake in the private company and have reinvested profits to fund rapid global expansion. Both are now among the youngest self-made billionaires, with estimated net worths exceeding US$1.3 billion each by 2023.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Just%20over%20a%20decade%20later%2C,3%20billion%20each</ref>  


The company’s CEO is Mladen Vuckovic, who manages day-to-day operations and international expansion.<ref name="DLNewsLawsuit" /> Stake’s corporate structure relies on various international entities—for instance, an N.V. company licensed in Curaçao, as well as offices in Australia (Easygo), Serbia, Cyprus, and elsewhere—to comply with different regulatory requirements.<ref name="DLNewsCorporate">{{cite web |url=https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=according%20to%20the%20complaint |title=From RuneScape to High Stakes: Corporate structure details |publisher=DL News |access-date=14 February 2025}}</ref>
Mladen Vuckovic serves as CEO.<ref>https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Edward%20Craven%20and%20Bijan%20Tehrani,to%20the%20allegations%20runs%20out</ref> The overall corporate structure includes a Curaçao entity operating the main site, as well as other companies in Australia (Easygo for software development), Cyprus, and elsewhere.<ref>https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=according%20to%20the%20complaint</ref> Stake has not taken outside investment or venture capital, relying instead on in-house capital for growth and marketing.


== Business Model and Operations ==
== Business Model & Operations ==
Stake.com’s revenue stems from the house edge on casino games and sportsbook margins, all denominated in cryptocurrency on its main global site. In 2022, it reportedly generated around US$2.6&nbsp;billion in gross gaming revenue, surpassing major traditional betting companies.<ref name="Blockworks2.6B" />
Stake.com operates much like a traditional online casino and sportsbook, but uses cryptocurrency for deposits, wagers, and withdrawals on its main global site.<ref>https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=DraftKings%2C%20one%20of%20the%20most,alone%2C%20the%20Financial%20Times%20reported</ref>


=== Cryptocurrency-Only Main Platform ===
* '''Cryptocurrency-Only Platform (Global)''': Supports Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash, XRP, and others. Deposits and withdrawals are near-instant, appealing to gamblers who prefer speed and relative anonymity.<ref>https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=Primedice%20ultimately%20became%20the%20foundation,and%20bitcoin%20cash%2C%20among%20others</ref>
The global version of Stake.com exclusively accepts cryptocurrencies (e.g., Bitcoin, Ethereum, Litecoin, Dogecoin, Ripple, etc.), enabling near-instant deposits/withdrawals and attracting users drawn to pseudonymity and fewer traditional banking constraints.<ref name="Blockworks2.6B" /><ref name="DLNewsLawsuit" /> In regulated offshoot sites (e.g., Stake UK), fiat is mandated by local law, so crypto is disallowed there.<ref name="DLNewsLawsuit" /><ref name="SBCStakeUK" />
* '''Gaming Offerings''': Thousands of slot machines, table games (blackjack, roulette, baccarat), live-dealer games, poker, and a sportsbook covering sports and esports.<ref>https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=%E2%80%9CStake%20was%20founded%20by%20myself,possible%20online%20experience%2C%E2%80%9D%20Craven%20continued</ref> Also features “Stake Originals” with open-source “provably fair” algorithms.
* '''House Edge / Payouts''': Like other casinos, Stake earns the house edge from games and margins on sports bets.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Between%202020%20and%202022%2C%20Stake%E2%80%99s,for%20a%20combined%20%2476%20million</ref>
* '''Affiliate Program''': Generous revenue-share commissions for user referrals; affiliates earn a percentage of referred players’ losses.<ref>https://help.stake.com/en/articles/4793485-what-is-the-stake-affiliate-program#:~:text=When%20you%E2%80%99re%20a%20part%20of,they%20deposit%20and%20place%20bets</ref>
* '''VIP Loyalty Program''': Tiered system offering rakeback, bonuses, and dedicated support to high-volume players.<ref>https://help.stake.com/en/articles/4821738-what-is-rakeback#:~:text=Once%20you%27ve%20wagered%20a%20total,receive%20rakeback%20on%20every%20wager</ref>
* '''Streaming Partnerships''': Stake became notable for sponsoring Twitch and Kick.com streamers, who gamble live with large balances, providing significant exposure to new audiences.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=pitchmen%3A%20content%20creators,2022%2C%20giving%20Stake%20mainstream%20visibility</ref>


=== Games and Sportsbook ===
Stake’s main user bases include Latin America, Canada (outside Ontario), parts of Asia, Japan, Eastern Europe, and other markets with either permissive or less-enforced gambling regulations.<ref>https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=Other%20major%20online%20gambling%20sites,Asian%20countries%2C%20Japan%20and%20Brazil</ref> In regulated jurisdictions like the UK, Stake operates separate sites that may use fiat currency, comply with KYC, and follow local responsible gaming requirements.<ref>https://sbcnews.co.uk/sportsbook/2021/12/17/stake-com-commences-uk-sports-betting-and-casino-operations/#:~:text=Furthermore%2C%20the%20operator%20has%20detailed,esports%2C%20entertainment%20and%20political%20events</ref>
Stake launched with a few “provably fair” house games (e.g., dice) and expanded to include thousands of slot titles, table games, live-dealer offerings, poker, and a robust sportsbook covering major sports and esports.<ref name="DLNewsLawsuit" /> “Stake Originals” remain popular among crypto-enthusiasts for their transparent algorithms. The sportsbook offers pre-match and in-play bets on global competitions and other novelty markets.<ref name="SBCStakeUK" />


=== VIP Loyalty and Affiliate Programs ===
== Regulatory & Legal Landscape ==
Stake’s tiered VIP program grants cashback (rakeback), bonuses, and VIP hosts to high-volume bettors.<ref>{{cite web |url=https://help.stake.com/en/articles/4821738-what-is-rakeback#:~:text=Once%20you%27ve%20wagered%20a%20total,receive%20rakeback%20on%20every%20wager |title=What is Rakeback? |website=Stake.com Help Center |access-date=14 February 2025}}</ref> The affiliate system awards standard commissions of ~10% of the house edge from referred players, fueling aggressive user acquisition via content creators, review sites, and social media.<ref>{{cite web |url=https://help.stake.com/en/articles/4793485-what-is-the-stake-affiliate-program#:~:text=The%20standard%20commission%20you%20can,commission%20tab%20on%20your%20account |title=What is the Stake Affiliate Program? |website=Stake.com Help Center |access-date=14 February 2025}}</ref>
Stake.com primarily holds a Curaçao eGaming license, which provides global reach but is not recognized by stricter regulatory regimes in North America or Europe.<ref>https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=according%20to%20the%20complaint</ref>


=== Marketing and Streaming Partnerships ===
* '''Licensing''': Curaçao licensed since 2017. In late 2021, Stake launched stake.uk.com under a UK Gambling Commission license, but the UK site only accepts fiat currency (GBP), reflecting UK regulations.<ref>https://sbcnews.co.uk/sportsbook/2021/12/17/stake-com-commences-uk-sports-betting-and-casino-operations/#:~:text=Stake,UKGC%29%20licence</ref>
A defining factor in Stake’s growth has been its partnerships with streamers on Twitch (before the 2022 ban) and subsequently on Kick.com, a Stake-backed streaming platform launched to allow casino streams.<ref name="ForbesCryptoBillionaire1" /><ref name="BusinessInsiderTwitchBan" /> Stake has sponsored multiple high-profile gambling streamers—some receiving reported seven- to nine-figure contracts—to broadcast slot play and refer new gamblers. This approach contributed significantly to Stake’s user surge but ignited controversy over consumer protection and promotional ethics.<ref name="BusinessInsiderTwitchBan" />
* '''Jurisdictional Restrictions''': The main Stake.com site blocks the US, Australia, and many European jurisdictions where online casino gambling is banned or heavily restricted.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=US%242,3</ref> However, critics allege players sometimes circumvent restrictions via VPN.<ref>https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Freeman%20alleged%20that%20gamblers%20in,have%20actively%20encouraged%20the%20practice</ref>
* '''Regulated Market Entrants''': After its UK rollout, Stake plans additional local sites in Italy, Portugal, and Ontario (Canada).<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=regulations%20in%20as%20many%20countries,as%20possible</ref> In the US, Stake.us operates as a “social casino” using sweepstakes tokens to remain legal.<ref>https://www.snbet.ca/stake-canada-review#:~:text=Stake.com%20Canada%20Review%202025%20,go%20live%2C%20with%20a%20license</ref>
* '''Compliance''': Initially liberal (pseudo-anonymity, crypto-based), Stake now enforces stricter KYC, especially in regulated markets, offering self-exclusion, deposit limits, and responsible gambling resources.<ref>https://sbcnews.co.uk/sportsbook/2021/12/17/stake-com-commences-uk-sports-betting-and-casino-operations/#:~:text=%E2%80%9CCustomers%20will%20have%20access%20to,%E2%80%9D</ref>
* '''Legal Challenges''': Stake faces a major lawsuit in New York filed by Christopher Freeman, a former associate, alleging unauthorized US-facing gambling, partner exclusion, and corporate misconduct.<ref>https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Freeman%20alleged%20that%20gamblers%20in,have%20actively%20encouraged%20the%20practice</ref> The case remains ongoing.


=== Geographic Reach ===
== Sponsorships & Partnerships ==
Stake.com primarily operates in markets with permissive or ambiguous online gambling laws, especially parts of Latin America, Canada (outside Ontario), Southeast Asia, Russia, and Japan.<ref name="BlockworksLatinAmerica" /> It geo-blocks countries with stricter laws (e.g., United States, Australia, much of Europe) although allegations persist that some users bypass these bans via VPN.<ref name="DLNewsLawsuit" />
=== Sports Team Sponsorships ===
* '''Football (Soccer)''': Stake was the main shirt sponsor of Watford F.C. in the 2021–22 Premier League season,<ref>https://sbcnews.co.uk/social-responsibility/2021/11/30/stake-com-leverages-watford-partnership-for-csr-initiative/#:~:text=Stake,Asia%20%E2%80%93%20and%20fighter%C2%A0Israel%20Adesanya</ref> featuring a Dogecoin logo on sleeves. In 2022, the company signed a club-record partnership with Everton F.C., placing the Stake logo on Everton’s kit for multiple seasons.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=The%20two%20have%20also%20been,%E2%80%9D</ref>
* '''UFC''': Stake is an official betting partner of the UFC in select regions, sponsoring UFC fighters such as Israel Adesanya and Francis Ngannou as brand ambassadors.<ref>https://www.ice365.com/en/articles/70923/stake-com-signs-football-icon-aguero-as-brand-ambassador/#:~:text=Cryptocurrency%20betting%20and%20gaming%20operator,global%20representative%20for%20the%20company</ref>
* '''Formula One''': In 2023, Stake became the title sponsor of the Alfa Romeo F1 Team (Sauber). From 2024 onward, the team name changes to “Stake F1 Team,” with the sponsorship reportedly worth US$100 million over three years.<ref>https://www.formula1.com/en/latest/article/sauber-new-team-name-stake-f1-team-kick-alfa-romeo.3ExVqWTCT8pd7MEd71V5DK#:~:text=Sauber%20will%20be%20rebranded%20as,the%20German%20manufacturer's%20works%20squad.</ref>


== Regulatory and Legal Landscape ==
=== Celebrity & Entertainment Partnerships ===
Online gambling regulations vary widely by country, shaping Stake’s strategy of using a Curaçao eGaming license for the main site while seeking local licenses (UK, Italy, and potentially others) for regulated markets.<ref name="SBCStakeUK" /><ref name="ForbesCryptoBillionaireCompliance" />
* '''Drake''': Stake’s highest-profile deal is with the Canadian musician Drake, reportedly valued at ~US$100 million per year. Drake livestreams his gambling sessions on Stake and frequently gives away crypto to viewers.<ref>https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=some%20areas%20of%20the%20crypto,market%20at%20the%20time</ref>
* '''Sergio Agüero''': The former Manchester City striker joined Stake as a global ambassador in February 2022.<ref>https://www.ice365.com/en/articles/70923/stake-com-signs-football-icon-aguero-as-brand-ambassador/#:~:text=Cryptocurrency%20betting%20and%20gaming%20operator,global%20representative%20for%20the%20company</ref>
* '''Kick.com''': After Twitch banned certain crypto casino streams in 2022, Stake co-founded the streaming platform Kick.com, signing exclusive deals with prominent streamers such as xQc, Trainwreckstv, and Adin Ross.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=The%20duo%20are%20also%20diversifying,Kick%20has%20succeeded%20in</ref>


=== Licensing and Jurisdictional Restrictions ===
== Competitive Positioning ==
Stake.com operates under a Curaçao license, commonly regarded as more lenient than many Western jurisdictions.<ref name="DLNewsCorporate" /> Over time, Stake has introduced region-specific versions of its site—e.g., Stake.uk.com with a UK Gambling Commission license (fiat-only).<ref name="SBCStakeUK" /> Other expansions include obtaining approval in Ontario, Canada, and exploring entry into further regulated markets in Europe and Latin America.<ref name="ForbesCryptoBillionaireCompliance" />
Stake.com is widely recognized as a market leader among crypto-only casinos, outpacing rivals like Roobet and BC.Game in both user base and revenue.<ref>https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=entrepreneurs%20made%20the%20most%20of,crypto%20casino%20Stake%20in%202017</ref> Its aggressive marketing, significant sponsorship budgets, and focus on community (including live chat, user forums, and high-profile streaming partnerships) differentiate it from many competitors. Traditional gambling operators have begun exploring crypto features, but Stake’s early-mover advantage and brand visibility have secured it a dominant share of the crypto gambling market.
 
=== Compliance and KYC ===
Initially known for relatively anonymous play, Stake has ramped up KYC requirements and responsible gambling measures, especially in its regulated offerings. In the UK, for instance, full identity verification and deposit limits are enforced.<ref name="SBCStakeUK" /> The company has joined the Crypto Gambling Foundation, pledging transparency and fairness.<ref name="SBCStakeUK" />
 
=== Lawsuits and Disputes ===
Stake.com’s largest legal challenge stems from a $400&nbsp;million lawsuit filed by Christopher Freeman, a former associate claiming he was cut out of the business. The suit also alleges that Stake knowingly facilitated illegal U.S. betting via VPNs.<ref name="DLNewsLawsuit" /> Stake’s founders call these allegations baseless, but the case is ongoing.


== Sponsorships and Partnerships ==
== Notable Users & High-Stakes Gambling ==
Stake is noted for high-profile sponsorships in sports and entertainment, aimed at brand-building rather than direct ROI.<ref name="ForbesCryptoBillionaire1" />
=== Drake ===
Rapper Drake has streamed high-stakes casino sessions on Stake, reportedly wagering over US$1 billion in total bets within months.<ref>https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Aubrey%20Drake%20Graham%2C%20better%20known,as%20Drake</ref> He has experienced both massive wins (tens of millions of dollars) and equally large losses, drawing thousands of live viewers.


=== Sports Team Sponsorships ===
=== Trainwreckstv (Tyler Niknam) ===
* '''Football (Soccer)''': Principal shirt sponsor of [[Watford F.C.]] (2021–22) and Everton F.C. (2022–). The Everton deal is a record sponsorship for the club, reportedly around US$12&nbsp;million per year.<ref name="ForbesCryptoBillionaire2" /><ref name="StakeEverton">{{cite web |url=https://sbcnews.co.uk/social-responsibility/2021/11/30/stake-com-leverages-watford-partnership-for-csr-initiative/#:~:text=Stake,Asia%20%E2%80%93%20and%20fighter%C2%A0Israel%20Adesanya |title=Stake.com leverages Watford partnership for CSR initiative |publisher=SBC News |date=30 November 2021 |access-date=14 February 2025}}</ref>
A top Twitch streamer, Trainwreckstv became notorious for his high-stakes slots play under a Stake sponsorship deal he claimed earned him ~US$360 million over 16 months.<ref>https://www.sportskeeda.com/esports/news-trainwreck-claims-made-360-million-promoting-gambling#:~:text=Twitch%20star%20Tyler%20,promoting%20gambling%20on%20his%20streams</ref> After Twitch restricted crypto gambling streams, he migrated to Kick.com, continuing to promote Stake to a large audience.
* '''Formula One''': Title sponsor of the Alfa Romeo F1 team for 2023. The team is rebranded “Alfa Romeo F1 Team Stake,” transitioning to “Stake F1 Team” in 2024 after Alfa Romeo’s departure.<ref name="F1Rebranding" />
* '''UFC''': Official betting partner in select regions; brand ambassadors include champions Israel Adesanya and Francis Ngannou.<ref name="IceAguero" />
 
=== Celebrity and Entertainment Partnerships ===
* '''Drake''': A reported US$100&nbsp;million/year endorsement sees the rapper livestream his high-stakes roulette sessions on Stake, attracting tens of thousands of viewers.<ref name="Blockworks2.6B" /><ref name="ForbesCryptoBillionaire1" />
* '''Sergio “Kun” Agüero''': The Argentine football icon joined as a Stake global ambassador in 2022, engaging fans via promotional events and social media.<ref name="IceAguero" />
* '''Kick.com''': Stake’s founders launched this Twitch alternative in late 2022, signing top streamers like Trainwreckstv, xQc, and Adin Ross to exclusive deals. Kick allows crypto-gambling streams that Twitch banned.<ref name="BusinessInsiderTwitchBan" /><ref name="ForbesCryptoBillionaire1" />
 
== Competitive Positioning ==
Stake.com is widely regarded as the market leader in crypto-exclusive gambling, reportedly the 7th largest global gambling operator by revenue.<ref name="Blockworks2.6B" /> Competitors such as Roobet, BC.Game, and others also operate under Curaçao licenses, but few match Stake’s scale or marketing spend. Traditional betting brands may eventually adopt crypto, creating additional competition in regulated markets.


== Notable Users and High-Stakes Gambling ==
=== Other Streamers and Whales ===
Celebrity gamblers have heightened Stake’s profile.
Influencers including xQc (Felix Lengyel) and Adin Ross have occasionally gambled with or been sponsored by Stake, featuring six-figure slot bets on live streams.<ref>https://www.businessinsider.com/twitch-gambling-ban-how-platform-enforce-new-rules-streams-2022-10#:~:text=Starting%20October%2018%2C%20Twitch%20is,its%20ban%20on%20gambling%20content</ref> Anonymous “whale” bettors have also wagered large sums, with some forum reports of million-dollar spins and one user allegedly hitting an eight-figure slot jackpot.
* '''Drake''' regularly bets hundreds of thousands to millions of dollars per spin on Stake’s roulette and blackjack.<ref name="DLNewsLawsuit" /><ref name="Blockworks2.6B" />
* '''Trainwreckstv''' (Tyler Niknam) claimed to have a lucrative sponsorship, allegedly receiving up to US$360&nbsp;million total from Stake over 16 months, sparking debate about transparency and responsible gambling.<ref>{{cite web |url=https://www.sportskeeda.com/esports/news-trainwreck-claims-made-360-million-promoting-gambling |title=Trainwreck claims he's made $360 million in 16 months by promoting gambling on Twitch |publisher=Sportskeeda |date=2022 |access-date=14 February 2025}}</ref>


Regular reports of seven-figure wins and losses, fueled by crypto “whales,” contribute to Stake’s reputation for extremely high-stakes betting.
== Controversies & Challenges ==
* '''Founder Lawsuit''': Christopher Freeman, a former Primedice partner, filed suit in the US alleging he was cut out of Stake’s founding and that Stake illegally served US gamblers via VPN.<ref>https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Freeman%20initially%20sued%20the%20three,his%20work%20helped%20build%20them</ref> Stake’s founders deny his claims.
* '''Twitch Gambling Ban''': In late 2022, Twitch banned streams of unregulated crypto casinos, specifically citing Stake.com among others. This move followed public outcry over high-stakes gambling content being promoted to young audiences.<ref>https://www.businessinsider.com/twitch-gambling-ban-how-platform-enforce-new-rules-streams-2022-10#:~:text=nearly%2022%2C000%20viewers</ref>
* '''2023 Hack''': Stake’s hot wallets were hacked for ~US$41 million in crypto, attributed by the FBI to North Korea’s Lazarus Group. Stake covered the losses and resumed operations quickly.<ref>https://blockworks.co/news/stake-hack-lazarus-group-north-korea-fbi#:~:text=The%20Federal%20Bureau%20of%20Investigation,the%20FBI%20made%20this%20determination</ref>


== Controversies and Challenges ==
Critics also raise concerns over problem gambling, alleged underage access (via VPN), and potential money laundering. Stake’s management has responded by increasing KYC checks and adopting responsible gambling tools, but skepticism remains among regulators and consumer protection advocates.<ref>https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Stake%20is%20a%20domain%20through,gambling%E2%80%9D%2C%20according%20to%20the%20complaint</ref>
* '''Founder Lawsuit''': Christopher Freeman’s lawsuit alleging he was wrongfully excluded and that Stake breaches U.S. gambling laws remains ongoing.<ref name="DLNewsLawsuit" />
* '''Twitch Gambling Ban''': In late 2022, Twitch banned Stake.com and several other offshore crypto casinos due to consumer protection concerns. Stake then pivoted to supporting the Kick.com streaming platform.<ref name="BusinessInsiderTwitchBan" />
* '''Security Breach (2023)''': Stake lost ~US$41&nbsp;million to hackers linked to North Korea’s Lazarus Group. The company covered user funds from reserves but faced reputational damage.<ref name="BlockworksHack" />
* '''Regulatory Scrutiny''': Authorities in Australia, the U.S., and elsewhere have tightened measures against offshore gambling. Stake blocks many restricted jurisdictions but critics assert it tacitly allows VPN usage.<ref name="DLNewsLawsuit" />


== Future Outlook ==
== Future Outlook ==
Facing stricter licensing and legal frameworks globally, Stake.com aims to comply with new regulations, pivoting from a largely unregulated crypto casino model to a mixture of licensed local sites (often fiat-only) and crypto offerings elsewhere.<ref name="ForbesCryptoBillionaireCompliance" /> The company continues investing in sports sponsorships (e.g., Formula One) and developing Kick.com as a marketing channel, illustrating its ambition to remain a major force in online gambling. Whether it can reconcile its crypto origins with evolving regulatory demands remains a central challenge.
With global regulators tightening oversight of crypto gambling, Stake.com has indicated a pivot toward licensing and compliance to ensure longevity. It has expanded KYC, gained UK and other licenses, and begun launching fiat-based sites in key markets. The company’s sponsorship deals—especially in Premier League football, UFC, and Formula One—will likely continue, promoting the brand and mainstreaming crypto gambling. However, costs for licenses, taxes, and compliance measures may curb short-term profitability.<ref>https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Stake%20has%20chosen%20the%20path,corporation%E2%80%9D%20that%20could%20last%20decades</ref> Stake’s partnership with the Kick.com streaming platform could further entrench it as a major player in online gambling content, even as broader regulatory scrutiny intensifies.


== References ==
== References ==
<references/>
<references />

Latest revision as of 07:08, 14 February 2025

Stake.com

Stake.com is a cryptocurrency-based online casino and sports betting platform founded in 2017. It operates primarily with digital currencies for deposits, wagers, and withdrawals, positioning itself at the forefront of the crypto gambling industry.[1][2] Its global site is geo-blocked in many major markets due to regulatory restrictions, including the United States, United Kingdom (prior to a separate licensed site launch), and much of Europe. Despite these limitations, Stake.com has grown into one of the world’s largest offshore crypto casinos, reporting approximately US$2.6 billion in gross gaming revenue in 2022—placing it among the top global gambling companies by revenue.[3] The platform’s success has been fueled by aggressive marketing, high-profile sponsorships, and the rise of celebrity gamblers and streamers. Stake.com combines online gambling with cryptocurrency, making it a pivotal and often controversial player in the sector.

Overview

Stake.com launched in 2017 and rapidly attracted a crypto-savvy user base by offering “provably fair” in-house games alongside a broader suite of casino offerings and a sportsbook. It remains privately held by its co-founders, Edward “Ed” Craven (Australian) and Bijan Tehrani (American), who have each become billionaires through the company’s meteoric rise.[4] The core platform is licensed in Curaçao but, in pursuit of regulated market expansion, Stake has obtained or sought local licenses in jurisdictions such as the United Kingdom, Italy, Portugal, and Ontario (Canada).[5] The company is best known for its sponsorship deals with high-profile athletes, Premier League football clubs, Formula One teams, UFC fighters, and celebrities—including a multimillion-dollar partnership with the musician Drake.

History & Background

Founding

Stake.com was founded in 2017 by Ed Craven and Bijan Tehrani, who had previously co-created the Bitcoin dice site Primedice in 2013.[6][7] Craven and Tehrani had met as teenagers through the online game RuneScape, where they ran a virtual gambling ring until their in-game wagering was banned by the game’s developers.[8] Profits from Primedice enabled them to form an Australian development company (Easygo) to build a more ambitious crypto-focused gambling platform, culminating in the launch of Stake.com.[9]

Growth Milestones

Soon after launch, Stake.com expanded from in-house dice and “crash” games to hundreds of third-party slot and table games. In 2019, it introduced a full sportsbook supporting crypto wagering on major sports and esports events.[10] During the COVID-19 pandemic (2020), Stake began sponsoring Twitch streamers to showcase its offerings, leading to a dramatic jump in user growth.[11] By 2022, Stake had reported over US$2.6 billion in gross gaming revenue, making it one of the largest global iGaming operators.[12]

Timeline of Notable Events

  • 2017: Stake.com goes live under a Curaçao eGaming license.[13]
  • 2019: Introduction of thousands of slot and table games plus a sportsbook section.[14]
  • 2020: Rapid expansion via online gambling streamers (Twitch), reaching ~US$100 million in annual revenue, with large growth ahead.[15]
  • 2021: Stake obtains a UK Gambling Commission license and launches its fiat-based UK site (stake.uk.com); signs sponsorship with Watford F.C.[16]
  • 2022: Stakes’ revenue surpasses US$2 billion; high-profile deals with Drake, Sergio Agüero, UFC fighters Israel Adesanya and Francis Ngannou; Twitch bans crypto slots streams (citing Stake among them), prompting founders to co-launch Kick.com as an alternative streaming platform.[17][18]
  • 2023: Stake becomes title sponsor of the Alfa Romeo Formula One team; a major hack results in ~US$41 million stolen by the Lazarus Group, though Stake covers user funds with its reserves.[19][20]
  • 2024: Expanded regulatory push (e.g., Curaçao licensing reform), rollout of more local fiat-based sites, and rebranding of the F1 team to “Stake F1 Team.”[21]

Ownership & Key People

Stake.com’s co-founders and principal owners are Edward “Ed” Craven (b. ~1995, Australian) and Bijan Tehrani (b. ~1993, American).[22] They each hold a 50% stake in the private company and have reinvested profits to fund rapid global expansion. Both are now among the youngest self-made billionaires, with estimated net worths exceeding US$1.3 billion each by 2023.[23]

Mladen Vuckovic serves as CEO.[24] The overall corporate structure includes a Curaçao entity operating the main site, as well as other companies in Australia (Easygo for software development), Cyprus, and elsewhere.[25] Stake has not taken outside investment or venture capital, relying instead on in-house capital for growth and marketing.

Business Model & Operations

Stake.com operates much like a traditional online casino and sportsbook, but uses cryptocurrency for deposits, wagers, and withdrawals on its main global site.[26]

  • Cryptocurrency-Only Platform (Global): Supports Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash, XRP, and others. Deposits and withdrawals are near-instant, appealing to gamblers who prefer speed and relative anonymity.[27]
  • Gaming Offerings: Thousands of slot machines, table games (blackjack, roulette, baccarat), live-dealer games, poker, and a sportsbook covering sports and esports.[28] Also features “Stake Originals” with open-source “provably fair” algorithms.
  • House Edge / Payouts: Like other casinos, Stake earns the house edge from games and margins on sports bets.[29]
  • Affiliate Program: Generous revenue-share commissions for user referrals; affiliates earn a percentage of referred players’ losses.[30]
  • VIP Loyalty Program: Tiered system offering rakeback, bonuses, and dedicated support to high-volume players.[31]
  • Streaming Partnerships: Stake became notable for sponsoring Twitch and Kick.com streamers, who gamble live with large balances, providing significant exposure to new audiences.[32]

Stake’s main user bases include Latin America, Canada (outside Ontario), parts of Asia, Japan, Eastern Europe, and other markets with either permissive or less-enforced gambling regulations.[33] In regulated jurisdictions like the UK, Stake operates separate sites that may use fiat currency, comply with KYC, and follow local responsible gaming requirements.[34]

Regulatory & Legal Landscape

Stake.com primarily holds a Curaçao eGaming license, which provides global reach but is not recognized by stricter regulatory regimes in North America or Europe.[35]

  • Licensing: Curaçao licensed since 2017. In late 2021, Stake launched stake.uk.com under a UK Gambling Commission license, but the UK site only accepts fiat currency (GBP), reflecting UK regulations.[36]
  • Jurisdictional Restrictions: The main Stake.com site blocks the US, Australia, and many European jurisdictions where online casino gambling is banned or heavily restricted.[37] However, critics allege players sometimes circumvent restrictions via VPN.[38]
  • Regulated Market Entrants: After its UK rollout, Stake plans additional local sites in Italy, Portugal, and Ontario (Canada).[39] In the US, Stake.us operates as a “social casino” using sweepstakes tokens to remain legal.[40]
  • Compliance: Initially liberal (pseudo-anonymity, crypto-based), Stake now enforces stricter KYC, especially in regulated markets, offering self-exclusion, deposit limits, and responsible gambling resources.[41]
  • Legal Challenges: Stake faces a major lawsuit in New York filed by Christopher Freeman, a former associate, alleging unauthorized US-facing gambling, partner exclusion, and corporate misconduct.[42] The case remains ongoing.

Sponsorships & Partnerships

Sports Team Sponsorships

  • Football (Soccer): Stake was the main shirt sponsor of Watford F.C. in the 2021–22 Premier League season,[43] featuring a Dogecoin logo on sleeves. In 2022, the company signed a club-record partnership with Everton F.C., placing the Stake logo on Everton’s kit for multiple seasons.[44]
  • UFC: Stake is an official betting partner of the UFC in select regions, sponsoring UFC fighters such as Israel Adesanya and Francis Ngannou as brand ambassadors.[45]
  • Formula One: In 2023, Stake became the title sponsor of the Alfa Romeo F1 Team (Sauber). From 2024 onward, the team name changes to “Stake F1 Team,” with the sponsorship reportedly worth US$100 million over three years.[46]

Celebrity & Entertainment Partnerships

  • Drake: Stake’s highest-profile deal is with the Canadian musician Drake, reportedly valued at ~US$100 million per year. Drake livestreams his gambling sessions on Stake and frequently gives away crypto to viewers.[47]
  • Sergio Agüero: The former Manchester City striker joined Stake as a global ambassador in February 2022.[48]
  • Kick.com: After Twitch banned certain crypto casino streams in 2022, Stake co-founded the streaming platform Kick.com, signing exclusive deals with prominent streamers such as xQc, Trainwreckstv, and Adin Ross.[49]

Competitive Positioning

Stake.com is widely recognized as a market leader among crypto-only casinos, outpacing rivals like Roobet and BC.Game in both user base and revenue.[50] Its aggressive marketing, significant sponsorship budgets, and focus on community (including live chat, user forums, and high-profile streaming partnerships) differentiate it from many competitors. Traditional gambling operators have begun exploring crypto features, but Stake’s early-mover advantage and brand visibility have secured it a dominant share of the crypto gambling market.

Notable Users & High-Stakes Gambling

Drake

Rapper Drake has streamed high-stakes casino sessions on Stake, reportedly wagering over US$1 billion in total bets within months.[51] He has experienced both massive wins (tens of millions of dollars) and equally large losses, drawing thousands of live viewers.

Trainwreckstv (Tyler Niknam)

A top Twitch streamer, Trainwreckstv became notorious for his high-stakes slots play under a Stake sponsorship deal he claimed earned him ~US$360 million over 16 months.[52] After Twitch restricted crypto gambling streams, he migrated to Kick.com, continuing to promote Stake to a large audience.

Other Streamers and Whales

Influencers including xQc (Felix Lengyel) and Adin Ross have occasionally gambled with or been sponsored by Stake, featuring six-figure slot bets on live streams.[53] Anonymous “whale” bettors have also wagered large sums, with some forum reports of million-dollar spins and one user allegedly hitting an eight-figure slot jackpot.

Controversies & Challenges

  • Founder Lawsuit: Christopher Freeman, a former Primedice partner, filed suit in the US alleging he was cut out of Stake’s founding and that Stake illegally served US gamblers via VPN.[54] Stake’s founders deny his claims.
  • Twitch Gambling Ban: In late 2022, Twitch banned streams of unregulated crypto casinos, specifically citing Stake.com among others. This move followed public outcry over high-stakes gambling content being promoted to young audiences.[55]
  • 2023 Hack: Stake’s hot wallets were hacked for ~US$41 million in crypto, attributed by the FBI to North Korea’s Lazarus Group. Stake covered the losses and resumed operations quickly.[56]

Critics also raise concerns over problem gambling, alleged underage access (via VPN), and potential money laundering. Stake’s management has responded by increasing KYC checks and adopting responsible gambling tools, but skepticism remains among regulators and consumer protection advocates.[57]

Future Outlook

With global regulators tightening oversight of crypto gambling, Stake.com has indicated a pivot toward licensing and compliance to ensure longevity. It has expanded KYC, gained UK and other licenses, and begun launching fiat-based sites in key markets. The company’s sponsorship deals—especially in Premier League football, UFC, and Formula One—will likely continue, promoting the brand and mainstreaming crypto gambling. However, costs for licenses, taxes, and compliance measures may curb short-term profitability.[58] Stake’s partnership with the Kick.com streaming platform could further entrench it as a major player in online gambling content, even as broader regulatory scrutiny intensifies.

References

  1. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=US%242,3
  2. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Just%20over%20a%20decade%20later%2C,3%20billion%20each
  3. ↑ https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=entrepreneurs%20made%20the%20most%20of,crypto%20casino%20Stake%20in%202017
  4. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Between%202020%20and%202022%2C%20Stake%E2%80%99s,for%20a%20combined%20%2476%20million
  5. ↑ https://sbcnews.co.uk/sportsbook/2021/12/17/stake-com-commences-uk-sports-betting-and-casino-operations/#:~:text=Stake,UKGC%29%20licence
  6. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=The%20duo%20began%20dabbling%20with,with%20all%20wagers%20in%20cryptocurrency
  7. ↑ https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Primedice%2C%E2%80%9D%20he%20rejected%20the%20notion,had%20any%20involvement%20in%20Stake
  8. ↑ https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=RuneScape%20is%20often%20credited%20as,casino%20within%20the%20game%E2%80%99s%20world
  9. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=ambitions%20grew%20in%20the%20spring,with%20all%20wagers%20in%20cryptocurrency
  10. ↑ https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=Primedice%20ultimately%20became%20the%20foundation,and%20bitcoin%20cash%2C%20among%20others
  11. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Between%202020%20and%202022%2C%20Stake%E2%80%99s,for%20a%20combined%20%2476%20million
  12. ↑ https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=DraftKings%2C%20one%20of%20the%20most,alone%2C%20the%20Financial%20Times%20reported
  13. ↑ https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Primedice%2C%E2%80%9D%20he%20rejected%20the%20notion,had%20any%20involvement%20in%20Stake
  14. ↑ https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=Primedice%20ultimately%20became%20the%20foundation,and%20bitcoin%20cash%2C%20among%20others
  15. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Between%202020%20and%202022%2C%20Stake%E2%80%99s,for%20a%20combined%20%2476%20million
  16. ↑ https://sbcnews.co.uk/sportsbook/2021/12/17/stake-com-commences-uk-sports-betting-and-casino-operations/#:~:text=Stake,UKGC%29%20licence
  17. ↑ https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=some%20areas%20of%20the%20crypto,market%20at%20the%20time
  18. ↑ https://www.businessinsider.com/twitch-gambling-ban-how-platform-enforce-new-rules-streams-2022-10#:~:text=nearly%2022%2C000%20viewers
  19. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=The%20two%20have%20also%20been,%E2%80%9D
  20. ↑ https://blockworks.co/news/stake-hack-lazarus-group-north-korea-fbi#:~:text=The%20Federal%20Bureau%20of%20Investigation,the%20FBI%20made%20this%20determination
  21. ↑ https://www.formula1.com/en/latest/article/sauber-new-team-name-stake-f1-team-kick-alfa-romeo.3ExVqWTCT8pd7MEd71V5DK#:~:text=Sauber%20will%20be%20rebranded%20as,the%20German%20manufacturer's%20works%20squad.
  22. ↑ https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=Stake%E2%80%99s%20founders%2C%2027,now%20considered%20Australia%E2%80%99s%20youngest%20billionaire
  23. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Just%20over%20a%20decade%20later%2C,3%20billion%20each
  24. ↑ https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Edward%20Craven%20and%20Bijan%20Tehrani,to%20the%20allegations%20runs%20out
  25. ↑ https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=according%20to%20the%20complaint
  26. ↑ https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=DraftKings%2C%20one%20of%20the%20most,alone%2C%20the%20Financial%20Times%20reported
  27. ↑ https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=Primedice%20ultimately%20became%20the%20foundation,and%20bitcoin%20cash%2C%20among%20others
  28. ↑ https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=%E2%80%9CStake%20was%20founded%20by%20myself,possible%20online%20experience%2C%E2%80%9D%20Craven%20continued
  29. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Between%202020%20and%202022%2C%20Stake%E2%80%99s,for%20a%20combined%20%2476%20million
  30. ↑ https://help.stake.com/en/articles/4793485-what-is-the-stake-affiliate-program#:~:text=When%20you%E2%80%99re%20a%20part%20of,they%20deposit%20and%20place%20bets
  31. ↑ https://help.stake.com/en/articles/4821738-what-is-rakeback#:~:text=Once%20you%27ve%20wagered%20a%20total,receive%20rakeback%20on%20every%20wager
  32. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=pitchmen%3A%20content%20creators,2022%2C%20giving%20Stake%20mainstream%20visibility
  33. ↑ https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=Other%20major%20online%20gambling%20sites,Asian%20countries%2C%20Japan%20and%20Brazil
  34. ↑ https://sbcnews.co.uk/sportsbook/2021/12/17/stake-com-commences-uk-sports-betting-and-casino-operations/#:~:text=Furthermore%2C%20the%20operator%20has%20detailed,esports%2C%20entertainment%20and%20political%20events
  35. ↑ https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=according%20to%20the%20complaint
  36. ↑ https://sbcnews.co.uk/sportsbook/2021/12/17/stake-com-commences-uk-sports-betting-and-casino-operations/#:~:text=Stake,UKGC%29%20licence
  37. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=US%242,3
  38. ↑ https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Freeman%20alleged%20that%20gamblers%20in,have%20actively%20encouraged%20the%20practice
  39. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=regulations%20in%20as%20many%20countries,as%20possible
  40. ↑ https://www.snbet.ca/stake-canada-review#:~:text=Stake.com%20Canada%20Review%202025%20,go%20live%2C%20with%20a%20license
  41. ↑ https://sbcnews.co.uk/sportsbook/2021/12/17/stake-com-commences-uk-sports-betting-and-casino-operations/#:~:text=%E2%80%9CCustomers%20will%20have%20access%20to,%E2%80%9D
  42. ↑ https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Freeman%20alleged%20that%20gamblers%20in,have%20actively%20encouraged%20the%20practice
  43. ↑ https://sbcnews.co.uk/social-responsibility/2021/11/30/stake-com-leverages-watford-partnership-for-csr-initiative/#:~:text=Stake,Asia%20%E2%80%93%20and%20fighter%C2%A0Israel%20Adesanya
  44. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=The%20two%20have%20also%20been,%E2%80%9D
  45. ↑ https://www.ice365.com/en/articles/70923/stake-com-signs-football-icon-aguero-as-brand-ambassador/#:~:text=Cryptocurrency%20betting%20and%20gaming%20operator,global%20representative%20for%20the%20company
  46. ↑ https://www.formula1.com/en/latest/article/sauber-new-team-name-stake-f1-team-kick-alfa-romeo.3ExVqWTCT8pd7MEd71V5DK#:~:text=Sauber%20will%20be%20rebranded%20as,the%20German%20manufacturer's%20works%20squad.
  47. ↑ https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=some%20areas%20of%20the%20crypto,market%20at%20the%20time
  48. ↑ https://www.ice365.com/en/articles/70923/stake-com-signs-football-icon-aguero-as-brand-ambassador/#:~:text=Cryptocurrency%20betting%20and%20gaming%20operator,global%20representative%20for%20the%20company
  49. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=The%20duo%20are%20also%20diversifying,Kick%20has%20succeeded%20in
  50. ↑ https://blockworks.co/news/crypto-casino-stake-revenue#:~:text=entrepreneurs%20made%20the%20most%20of,crypto%20casino%20Stake%20in%202017
  51. ↑ https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Aubrey%20Drake%20Graham%2C%20better%20known,as%20Drake
  52. ↑ https://www.sportskeeda.com/esports/news-trainwreck-claims-made-360-million-promoting-gambling#:~:text=Twitch%20star%20Tyler%20,promoting%20gambling%20on%20his%20streams
  53. ↑ https://www.businessinsider.com/twitch-gambling-ban-how-platform-enforce-new-rules-streams-2022-10#:~:text=Starting%20October%2018%2C%20Twitch%20is,its%20ban%20on%20gambling%20content
  54. ↑ https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Freeman%20initially%20sued%20the%20three,his%20work%20helped%20build%20them
  55. ↑ https://www.businessinsider.com/twitch-gambling-ban-how-platform-enforce-new-rules-streams-2022-10#:~:text=nearly%2022%2C000%20viewers
  56. ↑ https://blockworks.co/news/stake-hack-lazarus-group-north-korea-fbi#:~:text=The%20Federal%20Bureau%20of%20Investigation,the%20FBI%20made%20this%20determination
  57. ↑ https://www.dlnews.com/articles/defi/from-runescape-to-high-stakes-the-biggest-crypto-casino-stakecom-sued/#:~:text=Stake%20is%20a%20domain%20through,gambling%E2%80%9D%2C%20according%20to%20the%20complaint
  58. ↑ https://www.forbes.com.au/news/billionaires/how-stake-made-australias-ed-craven-a-crypto-billionaire/#:~:text=Stake%20has%20chosen%20the%20path,corporation%E2%80%9D%20that%20could%20last%20decades
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