Stake is an online casino platform that specializes in cryptocurrency transactions, offering traditional casino games such as slots, blackjack, and roulette, as well as sports betting. Despite dealing primarily with cryptocurrencies, users of Stake.com’s UK site deal only in fiat currency. The platform launched in 2017 and was co-created by Ed Craven and Bijan Tehrani, who also established Easygo, a company that developed games for online casinos.
Ed Craven, an Australian, is the visible face of Stake.com, often interacting with players on chat forums and social media under the pseudonym Edd Miroslav. He has a considerable online profile and is the sole shareholder of Easygo. Craven was raised near Coffs Harbour, Australia, and currently resides in a $15 million penthouse apartment in Melbourne’s Southbank. His father, Jamie Craven, is listed as the director of Easygo, despite a history of legal troubles in the financial services sector.
Bijan Tehrani, on the other hand, is more of an enigma. He is believed to spend much of his time in the United States but has spent significant time in Australia in the past. He has businesses in Australia and has listed a penthouse in the Eureka tower overlooking Crown casino as his home address on company records. Tehrani does not appear on any official records for Stake.com or Easygo, but he does appear in social media posts for Easygo and has a working email at the company. Some sources suggest that Tehrani is the internet forum poster “Stunna”, a claimed founder of Stake.com and Primedice. This has been confirmed by several former staff members.
Stake.com is operated by Medium Rare NV, a company incorporated in Curaçao, where it holds an online casino license. However, despite appearing to be an overseas operation, the company has significant Australian connections. The platform was launched in Melbourne, and some of its senior staff work out of Easygo’s offices in the same city. The games developed by Easygo are used on the Stake.com platform. Stake.com operates legally due to a loophole in Australian law which permits the operation of an online casino from the country, as long as it doesn’t serve people in Australia or advertise there. The company’s structure, being officially registered and licensed in Curacao, also means it sits outside Australia’s money-laundering laws.
Despite exploiting legal loopholes, the platform has been successful, having taken $US12 million in bets on the outcome of the last US election alone. It also has multiple high-profile sponsorship deals across several sports, including with UFC fighter Israel Adesanya, English football teams Gillingham, Watford, Everton, Argentine footballer Sergio Agüero, Formula One reserve driver Pietro Fittipaldi and his brother, Formula 2 driver Enzo Fittipaldi, Canadian musician Drake, and the Gennady Golovkin vs. Ryōta Murata boxing match. In January 2023, Stake also became the title sponsor for the Alfa Romeo F1 team for the 2023 F1 season.