Who owns Stake and how it became a global sensation

Nearly a decade ago, a couple of entrepreneurs and visionaries, who identified the potential of online gambling and cryptocurrency, founded the globally recognizable online casino, Stake.com, also popular as Stake. The expansion of the crypto-backed online casino over the years has been evident and by now it caters to millions of registered customers, processing billions in transactions in fiat and cryptocurrency.

Despite its popularity, many are curious about who owns Stake, the innovative online casino that revolutionized the iGaming sector by incorporating transparent, safe and secure crypto transactions.

The 2017-founded crypto casino is popular across the globe

It was back in 2017 when the Australian entrepreneurs Ed Craven and Bijan Tehrani founded Stake.com. Currently, the premier crypto-based casino is operated by a company incorporated in Curacao called Medium Rare NV.

Holding an online license in Curacao, the company can offer its services to a number of jurisdictions across the globe. This isn't surprising considering that many online casinos turn to Curacao or Malta for a gaming license, which enables them to deliver their services to millions of customers across the globe.

Besides Curacao, Stake has licenses in several other markets, operating through subsidiaries and related companies. Notably, the crypto-backed online casino platform holds a license in Peru, Mexico, as well as Colombia. While Stake is also licensed in the United Kingdom under TGP Europe Ltd, the company recently confirmed its intention to withdraw from the market as a part of a strategic decision.

Ed Craven and Bijan Tehrani are the visionaries behind Stake

Currently, Stake offers a range of gambling options, from engaging casino games such as roulette, blackjack and slots, to a variety of sports betting options. In addition, the premier crypto-based casino that stands out with fairness, innovation and transparency, offers video streams with live dealers, providing engaging and memorable experiences.

While the success of Stake is unquestionable, many wonder who the owners behind the innovative crypto gambling platform are, namely, Ed Craven and Bijan Tehrani. It was several years before they founded Stake when the duo first entered the gambling vertical.

Back in 2013, Craven and Tehrani helped develop an online dice game that enabled consumers to gamble with cryptocurrency called Primedice. Then, several years later, in 2016, they established Easygo, an online casino games developer. Shortly after, seeking to revolutionize the gambling industry, Craven and Tehrani co-founded Stake in 2017.

After it was founded, the crypto online casino expanded its offering with the addition of sports betting options in 2019. From then on, Stake focused on expanding its global footprint, leveraging a range of strategies that helped it grow in the gambling industry.

Stake.com supports a range of cryptocurrencies.

Image credit: Pixabay.com

Stake continues to grow year after year

While many gambling enthusiasts know who owns Stake, few are aware that Stake is a privately held company. This means that the crypto-backed online casino company isn't publicly trading its shares.

Still, this doesn't stop Stake from constantly growing its customer base and market share, going from strength to strength year after year. This is reaffirmed by the platform's increasing revenue, which according to Forbes Australia report hit $2.6bn in 2023.

More recently, a separate Forbes report estimated Ed Craven's real-time net worth at $2.8bn. At the same time, the report pointed to the revenue Stake.com recorded in 2024, which hit the mind-blowing sum of $4.7bn.

It's worth noting that the solid result reported by the online crypto casino comes at a time when its services are unavailable in the United States. At the same time, as noted, Stake confirmed its intention to soon withdraw from a major European market, the one in the UK.

Confirming the upcoming UK withdrawal, Stake explained it "has made a strategic decision in mutual agreement with TGP Europe to exit white-label agreements and focus on securing local licenses through our in-house platform and operations, building upon our growth in key regulated markets such as our recent expansions into Italy and Brazil."

Other uncertainties such as restrictions related to cryptocurrency betting and gambling on the Old Continent likely have also somewhat impacted Stake but not to any extent that may cause concerns for the platform.

The crypto casino expanded significantly in a couple of years

Stake's major expansion and rise in popularity came with the help of streamers on Twitch shortly after the pandemic. In 2022, the crypto casino platform joined forces with a range of recognizable personalities, including famous streamers xQc, Trainwreckstv and even the globally recognizable rapper and music icon, Drake. Teaming up with Drake, Stake vowed to "bring an entirely new gaming experience to users."

The growth of the premier crypto-based casino resulted in the implementation of restrictions by Twitch. In September 2022, the popular platform changed its policies, effectively banning the streaming of gambling such as slots and other casino games by operators that do not hold a license or operate in the United States.

The restrictions, focusing on consumer protection, encompassed other jurisdictions too. The Twitch ban on Stake advertising resulted in the creation of a new streaming platform called Kick, backed by Ed Craven, Bijan Tehrani and Trainwreckstv, the famous streamer and social media personality. Kick was founded and launched late in 2022, as a competitor of the live stream service Twitch.

Aggressive marketing and high-profile sponsorships fuel Stake's growth

Besides supporting a range of fiat currencies, as well as crypto, Stake's success comes as the result of aggressive marketing and advertising. Ever since it started gaining popularity in 2022, the online crypto casino and betting platform inked a series of landmark sponsorships.

Notably, Stake.com announced a major sponsorship agreement by teaming up with Israel Adesanya, the former UFC Middleweight Champion and MMA legend. The deal which dates back to 2021 saw the famous fighter become a Brand Ambassador for the popular crypto casino and betting platform. Shortly after, during the same year, Stake clinched a partnership with UFC for the Asia and Latin American regions.

In 2022, Stake was designated an official betting partner of UFC in Asia and Latin America.

Image credit: Stake.com

After that, Stake joined forces with Sergio Aguero, the former Argentine football striker and legendary player who retired from football in 2021. The multi-year deal was announced by the company in 2022, designating the famous footballer as a Global Brand Ambassador.

Other notable partnerships announced by Stake include its first agreement with a football team. In 2021, the popular crypto casino platform joined forces with the English Premier League's Watford Football Club, becoming its main partner.

The aforementioned sponsorships by no means do not exhaust the long list of agreements announced by Stake. The innovative platform remains focused on expanding in markets across the globe which is why it often announces new deals and exciting activations.

Stake.com offers exceptional experiences

The debate over who owns Stake gambling underlines the importance of its founders in shaping the future of cryptocurrency-based wagering.

Ed Craven and Bijan Tehrani's revolutionary product undoubtedly stands out from the competition by combining the convenience, transparency and security of crypto with online gambling. Ultimately, powered by innovation, Stake provides reliable and memorable experiences for its growing customer base across the globe.

Image credit: Pixabay.com