We created this review to share some insights about the owners of a successful crypto-based bookmaker, Stake.com.
About the Platform
Stake is an online casino based in Curaсao and Australia. It is run by Medium Rare NV, a Curaсao-incorporated business licensed to operate online casinos. The company operates worldwide, with Stake headquarters in Australia, Cyprus, and Serbia. Stake is a relatively new player on the market, but it is catching up quickly with other players in the gambling niche.
Here is the story. In 2017, Edward Craven and Bijan Tehrani founded Stake.com, a website that operates in a transparent and fair manner using Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies. Because of the innovative software, the platform has grown into a very vibrant and quickly growing cryptocurrency gaming company. You can find more about the Stake betting platform in our detailed review of the bookie.
Rules of Popularity
So, why is Stake a big-league bookie?
Online bettors quickly fell in love with the platform because of its focus on cryptocurrency betting. Given the growing number of cryptocurrency enthusiasts, this approach was put into place at the perfect time. Although it accepts some alternative payment methods, the company is primarily crypto-based. While players can use a wide range of cryptocurrencies when wagering, Bitcoin remains the platform’s most popular cryptocurrency.
Making the most of celebrity endorsements was one of the key strategic choices of Stake management. They have consequently assembled an amazing squad of celebrities connected to the platform. They invited stars like Brett Lee and Kelly Slater, who, in turn, brought their own fan crowds.
The equally impressive strategic decision was to embrace Drake, the well-known music icon. This collaboration was an immediate success, reaching Drake’s massive global fan base and elevating the platform’s popularity to unprecedented levels.
Two visionaries, Ed Craven and Bijan Tehrani, started Stake in 2017 as a result of their combined insight into the unexplored potential of cryptocurrency gambling. As an industry standard, this platform is more than just an online casino. A platform like Stake requires a robust and competent person to manage its complex operations. As CEO, Mladen Vuckovic delivers just that. Vuckovic plays a key role in realizing operational goals set by the owners of Stake. He makes sure the platform adapts to shifting consumer preferences and industry trends.
- Edward Craven is an Australian billionaire. Due to the income received from Stake, Ed became one of the youngest billionaires in the country at the age of 27.
- There is not much information about Bijan Tehrani except that he is a U.S. citizen and Craven’s business partner.
- Mladen Vuckovic, a bachelor in IT, has been part of the Stake team since its launch in 2017. He has been the driving force for the brand’s success over the years due to his creative leadership. Additionally, the CEO has formed strategic alliances with other industry participants to deepen advantages over the brand’s competitors.
So, who owns Stake at the end of the day? Does Drake own Stake? Of course, he doesn’t; he is an ambassador of the brand. A platform that could change the game was envisioned by two innovators, Ed Craven and Bijan Tehrani. And they’ve built a potent team in the cryptocurrency gambling industry with CEO Mladen Vuckovic in charge of operations.
The company is associated with some controversial issues that cast a shadow on its reputation. Edward Craven and Bijan Tehrani were sued for USD 400 million by their ex-partner, Christopher Freeman.
In 2013, the three of them started the cryptocurrency dice gambling website Primedice. Later, Tehrani and Craven broke away from Mr. Freeman and started the online casino Stake.com.
Mr. Freeman insists that Tehrani and Craven transformed Primedice into Stake in 2016 by taking advantage of the business opportunities that emerged from the Primedice concept. He filed a civil lawsuit in August 2022 in New York, claiming he was wrongfully excluded from Stake and asking for USD 400 million in damages.
First, Freeman only accused his ex-partners of allegedly cutting him out of profits from Stake and Primedice. In January 2023, Freeman escalated his allegations, claiming that Stake uses malicious marketing methods by targeting customers in locations where gambling is illegal. Freeman claimed that gamblers in countries where it is unlawful to do so use virtual private networks to get access to geo-blocked content. He said that Stake management knew this, and Craven and Tehrani have actively supported the actions.
The defendants claimed that all the allegations were false and that the case would not move any further in the absence of evidence.
In June 2023, the case was dismissed for jurisdictional reasons.
Stake began its ascent just six years ago and has since grown to be a major player in the gaming industry. The choice to accept cryptocurrencies as a form of payment is primarily responsible for the booming success of the bookmaker. The platform offers a wide selection of games, great bonuses and deals, and an easy-to-use platform with the goal of making it as simple as possible for players to enjoy an entertaining and captivating gaming experience. The brand was involved in litigation, which negatively affected its reputation; however, the case was dismissed.
In this read, we shared some insights about the platform owners and their role in the rise of Stake as a successful crypto-based bookmaker.