In a world fascinated by digital currencies and online spectacles, a pair of Australian entrepreneurs in their 20s tapped into the zeitgeist in a way no one had thought of before. This is the story of Stake.com, a crypto-based gamble that paid off in billions.

💡 Here are the most common questions we get about Stake.com you must read before signing up.

The Genesis

The duo started off under the seemingly innocuous name of “Easy Go Gaming.” Discreet and unassuming, they set up shop in Australia. But their ambitions were anything but modest. They weren’t just looking to create a run-of-the-mill online casino. No, they were eyeing the creation of the world’s largest crypto-casino, a behemoth platform where blockchain met blackjack, and Ethereum met roulette.

The Gamble

From the beginning, the founders were interested in the mechanics, not just the glitz and glamour of the casino world. They understood that the real power lay in the transaction, the small fees that could accumulate into a treasure trove. And so, they designed Stake.com’s business model to take a minuscule cut from each bet, just as crypto exchanges skim off each trade.

The Pivot to Stardom

But how to get people to the platform? How to make them want to part with their Dogecoin, Bitcoin, or whatever the crypto flavor of the day was? This is where they made their second gamble, a bet so audacious it could have toppled the whole endeavor. They decided to pay celebrities millions just to use their platform.

Imagine Drake, sitting in his luxurious home, livestreaming a game of online poker on Stake.com. The allure was magnetic. This wasn’t just marketing; this was a spectacle, a show of wealth, risk, and, most importantly, immense fun. And it wasn’t just Drake. Soon, popular streamers like Trainwrecks were raking in contracts worth up to $100 million, all for doing what they loved—gaming, but now on Stake.com.

The $580 Million Hurdle: Lawsuits and Legal Triumphs

Just when it seemed like the path to billions was paved with gold, a legal snag emerged. Ed Craven and Bijan Tehrani, the enigmatic founders of Stake.com, found themselves at the center of a $580 million lawsuit. Christopher Freeman, a former associate, claimed he had been unfairly excluded from the burgeoning empire, which he estimated was worth up to $1 billion.

The lawsuit was not just a financial threat; it risked exposing the carefully concealed origins of the company. What was assumed to be an offshore enterprise turned out to be founded in Melbourne in 2017.

But as quickly as the storm had gathered, it dissipated. The U.S. court dismissed the case, citing a lack of jurisdiction. Freeman had launched the action in the Southern District of New York, but the founders successfully argued that the case should be thrown out. Stake.com, after all, was not operated out of the U.S.

In dismissing the lawsuit as “utterly frivolous” and “provably false,” Craven and Tehrani managed to escape what could have been a damaging blow, fortifying the empire they had built and adding yet another chapter to their already legendary tale.

Breaking Borders and Records

Basing their operations in Curacao, a hub that offers online gambling licenses, the founders dodged the regulatory snags that could have ensnared them in many countries. Not only did this strategic move allow them to operate freely, but it also paved the way for them to expand their empire.

Billionaire Status

All of this didn’t just make them rich; it made them obscenely rich. Ed Craven bought a $38 million mansion in Melbourne’s ritziest suburb, Toorak. He didn’t stop there, he also snapped up the second most expensive property in Australia, known as the Ghost Mansion. These weren’t just houses; they were monuments to their success, tangible proof of the virtual empire they’d built.

More Than Just a Casino

But they’re not stopping at crypto-casinos. Their eyes are set on becoming a $50 billion mainstream gaming company, a metamorphosis from a crypto gamble to an entertainment juggernaut.

The Underbelly of Success

And yet, for all their flamboyance and wealth, they remain an enigma. Even as one of them flaunted his newly acquired mansion, the two largely remain behind the curtain, their faces hidden but their impact unmistakable.

In the end, Stake.com is a testament to the audacity of hope and ambition. It shows what can happen when two young minds decide to roll the dice on an untapped market, leveraging the public’s twin fascinations with cryptocurrencies and celebrity culture. It’s a story of risk, reward, and the indomitable spirit of entrepreneurship, a tale that captures the essence of our crypto-obsessed age.

And so, as people around the world place their bets on Stake.com, the house always wins. But in this case, the “house” isn’t just a casino. It’s an empire, an institution, and, above all, a mind-boggling success story that shows when it comes to taking risks, sometimes the biggest gamble is not taking one at all.