The crypto casino also has the support of some big names, including sponsorship deals with Premier League club Everton and Alfa Romeo’s F1 team. Drake has reportedly won $38 million by gambling bitcoin on the platform. A goal was to reassure customers that the founders wouldn’t run off with their money, a somewhat common occurrence in some areas of the crypto market at the time.Ĭanadian rapper Drake signed a $100 million-per-year endorsement deal with in 2022, the FT said, citing two people familiar with the matter. The site attracted several “high-rollers” - people willing to spend on gambling lavishly - due to big-budget marketing meant to tame the stigma tied to both crypto and gambling, according to Craven.

It accepts both fiat and cryptocurrencies, including bitcoin, ether, dogecoin and bitcoin cash, among others. Primedice ultimately became the foundation of Stake’s beginnings, with the new venture offering video poker, casino games and sports betting. Craven is now considered Australia’s youngest billionaire. Stake’s founders, 27-year-old Ed Craven and 28-year-old Bijan Tehrani, were childhood friends who met on online roleplaying game RuneScape, per the FT. They teamed up to create a crypto dice gambling platform Primedice when they were around 20. That’s up from 1.8 billion Australian dollars ($1.2 billion) in 2021 and a big jump from just $105 million in the year prior. Stake generated nearly $2.6 billion in gross gaming revenue last year alone, the Financial Times reported. Stake has since sprung up to become the seventh-largest gambling group in the world by revenue, per the Financial Times, which cited data from strategic advisory firm Regulus Partners.ĭraftKings, one of the most prominent sports betting firms, lags behind. Two ambitious entrepreneurs made the most of it by starting crypto casino Stake in 2017.

Some folk view crypto trading as gambling more than investing.

Stake gaming casino