Stake.IT

History and Founding

Stake.com was founded in 2017 in Curaçao by Ed Craven and Bijan Tehrani, both Australian entrepreneurs with backgrounds in online gaming. The platform launched under a Curaçao gaming license and quickly grew into the largest crypto-focused iGaming site by leveraging early adoption of Bitcoin and Ethereum for wagering. The company is operated by Medium Rare N.V., a holding company based in Curaçao.

Business Model

Stake's revenue comes from the house edge on casino games and sports betting margins, supplemented by VIP rakeback and affiliate commissions. The platform is entirely crypto-native, meaning all deposits, bets, and withdrawals are processed in digital currencies, eliminating bank fees and enabling instant transactions. Stake operates on a high-volume, low-margin strategy, processing over 100 billion bets annually. The company also derives significant revenue from its proprietary game studio, Easygo, which creates exclusive titles like Crash, Dice, and Limbo that are only available on Stake.com.

Products and Platforms

Stake.com is the core casino and sportsbook, offering thousands of slots from third-party providers such as Pragmatic Play and Evolution Gaming, alongside in-house games. Stake.us is a social casino for US players operating on a sweepstakes model, allowing free-to-play access with virtual currencies and prize redemption. Kick.com is a live-streaming platform closely tied to Stake, used for broadcasting casino gameplay and sports events, acting as a marketing funnel. Easygo is the game development studio that produces proprietary titles exclusively for Stake. Through acquisitions, Stake also operates local brands: Betfair Colombia (Colombia), Idealbet (Italy), and Mocinoplay (Denmark), each tailored to regulated markets.

Market Position and Competitors

Stake is the undisputed leader in crypto iGaming, with the highest traffic and volume among crypto casinos globally. Its main competitors include Bitcasino.io, Cloudbet, and FortuneJack, though none match Stake's scale or brand recognition. Stake's aggressive sponsorship strategy in sports (F1, UFC, X Games) and streaming partnerships (particularly through Kick.com) gives it a strong competitive moat. However, the company faces regulatory challenges as it is not licensed in major markets like the US, UK, or Australia, and has been subject to lawsuits in New York and Florida. Its recent acquisitions in regulated European and Latin American markets signal a strategic shift toward compliance.

Licensing and Regulatory Footprint

Stake holds a Curaçao gaming license (8048/JAZ2016-065) as its primary authorization. It has also secured licenses in Peru, Brazil, and Denmark through its local subsidiaries. The company does not operate in jurisdictions where unlicensed gambling is prohibited, though its social casino Stake.us is structured to comply with US sweepstakes laws. Regulatory risk remains a key concern, as several governments have cracked down on unlicensed crypto casinos.

Leadership

Mladen Vučković serves as CEO, appointed in early 2022. Co-founders Ed Craven and Bijan Tehrani are not involved in day-to-day operations at Stake.com, instead focusing on Easygo and Kick.com. Akhil Sarin is Chief Marketing Officer, confirmed via the X Games partnership announcement in January 2026. Other C-suite roles such as CTO, COO, CFO, and CCO are not publicly identified.

Financials and Recent News

Stake's financials are not publicly audited, but estimated gross gaming revenue exceeded $4 billion in 2025. The company raised a $90 million Series A round in 2021, but this was for a separate investment platform called Stake (Australia), not the casino. Recent news includes the acquisition of Mocinoplay in Denmark (2025) and the X Games sponsorship (2026), alongside ongoing litigation in the US over advertising practices. The company remains privately held by the founders and early investors.