Who Owns Stake Casino? The Founders Behind the Crypto Casino

The Company Behind Stake Casino

A Melbourne-based start-up, Easygo Gaming, seems like a normal video game company – however, behind this façade lies a secret. The founders of Easygo are the masterminds behind Stake.com, believed to be the world’s largest online cryptocurrency casino. 

Established in 2017 by Edward ‘Ed’ Craven and Bijan Tehrani, Stake.com has rapidly become a powerhouse in online gaming. Its operations have processed substantial bets across sports, slots, and casino table games, with an estimated value exceeding $1 billion.

Where is Stake.com Located?

Despite being based out of Curacao, Stake.com has strong Australian ties. Not only was it founded in Melbourne, but senior staff from Stake.com also worked from Easygo’s offices.

The collaboration between the two entities is evident. The games developed by Easygo cater specifically to Stake’s casino offerings.

Stake.com uses a unique legal loophole to operate from Australia while avoiding its strict gambling laws. They do this while not serving Australian customers or advertising within the country.

This strategy has attracted attention from anti-gambling advocates and experts in anti-money laundering.  They find the situation concerning. Stake’s structure places it beyond the reach of Australia’s money-laundering laws.

Stake.com’s use of loopholes has enabled it to thrive within the regulatory framework. The platform, unlike traditional casinos, exclusively deals in cryptocurrencies.  While Stake.com uses cryptocurrencies for deposits and withdrawals, it operates in US dollars on the site itself. This allows it to circumvent strict banking regulations.

Can Stake Casino be regulated?

The success propelled online casinos into the spotlight – raising questions about the potential risks they pose. Experts, industry participants, and anti-gambling advocates are all raising concerns.

They’re all worried about the same thing: the effectiveness of the current regulatory environment. The question remains – do they have the ability to address the evolving challenges posed by online casinos and digital currencies?

Exploring Stake’s Evolution

The story of Stake.com unfolds in 2016 when Ed Craven and Bijan Tehrani embarked on a journey that would reshape the online gambling scene.

The convergence of their paths led to the birth of Stake, a platform that would later become a behemoth in the online gaming industry. In 2017, Stake.com officially emerged, ushering in a new era of digital entertainment.

Moving ahead to December 2021, Stake.com expanded its horizons across borders. Through a strategic partnership with TGP Europe, Stake.com made its debut in the vibrant landscape of the United Kingdom. This stride marked a significant chapter in Stake.com’s journey, offering UK gamers a taste of its offerings.

Since its start, the platform has seen impressive growth, attracting a user base of millions of players. The platform’s prominence shines through its prestigious collaborations. In 2023, the two founders launched the streaming site Kick as a Twitch competitor. Just as Stake.com, Kick is owned by Easygo Entertainment.

Stake’s Star-Studded Collaborations

Stake.com recently struck sponsorship deals with UFC and Watford FC in the English Premier League. This, along with becoming the official co-title sponsor of the Alfa Romeo F1 team underscores Stake’s dedication to competitive sports.

Adding a touch of star power, even multi-platinum hip-hop sensation Drake joined as a brand ambassador for Stake.com.

This high-profile association reflects Stake.com’s influence and recognition beyond the gaming sphere. By establishing credibility through these sponsorships Stake, has surpassed over $2.8 billion in gross revenue.

Dispute Among Stake Founders

A legal battle is unfolding in the cryptocurrency gambling sector: The creators of Stake.com, a prominent cryptocurrency casino, face a $580 million lawsuit from a former associate. Christopher Freeman alleges that he was unfairly excluded from the lucrative business.

Stake.com’s founders, Ed Craven and Bijan Tehrani, have strongly denied the allegations. They’ve labeled them as “completely baseless” and “demonstrably untrue.“

The lawsuit centers on a substantial $400 million in punitive damages. The compensation is related to Freeman’s initial investment in a precursor firm connected to Stake.com. Despite their rebuttals, the lawsuit exposes a complex story of collaborations and disagreements. 

And Stake.com has gained a lot of success and recognition recently. They’re the lead jersey sponsor for Everton in the English Premier League and have Drake as its primary brand ambassador.

Freeman’s legal action contends that he was deceived by his former partners. That he was prevented from participating in Stake.com’s formation.

These claims shed light on the platform’s journey and critical events that have led to Freeman’s pursuit of justice. As the case unfolds in the Southern District of New York, Stake.com finds itself named as a defendant, alongside Craven and Tehrani.

Legal representatives for Stake.com have swiftly dismissed the claims. They describe them as “baseless” and express their readiness to defend the platform’s position.

The case’s outcome will shape the future image surrounding Stake.com and its founders as well as the colorful past that led to its place in the cryptocurrency gambling sector.

Riley Fox Editor

Riley is a freelance writer here at Clever Casino. He reports on the latest news, and trends from the online casino industry.