Quick Answer
Stake Online Casino is owned by Easy Global Services B.V., a company incorporated in Curaçao, a jurisdiction within the Kingdom of the Netherlands. The platform operates under a Curaçao eGaming license (License No. 8048/JAZ2016-066). While the brand is widely associated with its co-founders, including Australian entrepreneur Ed Craven and his business partner Bijan Tehrani, the legal ownership structure is held through this Curaçao entity. It is critical for Australian players to understand that Stake is not regulated by any Australian authority and does not comply with the Interactive Gambling Act 1997 (IGA 1997), making its use for real-money wagering illegal under Australian federal law.
Detailed Ownership and Corporate Structure
1. Legal Entity and Registration
The official owner of Stake.com is Easy Global Services B.V., registered at Kaya W.F.G. Mensing 54, Curaçao. This entity holds the gambling license issued by the Government of Curaçao. The platform is also operated by Medium Rare N.V., another Curaçao-based company that manages day-to-day operations. These corporate structures are common in the online gambling industry to minimize tax liabilities and avoid stricter regulatory frameworks in countries like Australia, the United Kingdom, or the United States.
2. Key Individuals Behind Stake
While the legal owner is a corporate entity, the public faces and co-founders are:
- Ed Craven – An Australian entrepreneur from Melbourne, Victoria. Craven is the most visible figure, often credited with pioneering Stake’s cryptocurrency-first model and its aggressive marketing through sports sponsorships (e.g., Everton F.C., UFC, and the Stake F1 Team).
- Bijan Tehrani – A Canadian-Iranian businessman who co-founded the platform with Craven. Tehrani oversees technical and operational aspects.
Both individuals are not listed as direct owners of the Curaçao entity but are beneficiaries through holding companies and trusts. The exact ownership percentages are not publicly disclosed due to Curaçao’s privacy laws.
3. No Australian Regulatory Oversight
Stake does not hold an Australian gambling license. The Interactive Gambling Act 1997 (IGA 1997) explicitly prohibits the provision of “real-money” online casino services (such as slots, table games, and poker) to Australian residents by operators not licensed in Australia. While Stake accepts Australian users, it does so by relying on its Curaçao license, which is not recognized under Australian law. This means:
- Stake is operating in a legal gray zone for Australian players. The IGA 1997 targets the provider, not the player, but the Australian Communications and Media Authority (ACMA) can block unlicensed gambling websites and pursue civil penalties against operators.
- Australian players using Stake face risks such as lack of consumer protections, no dispute resolution through Australian courts, and potential difficulty recovering funds if the platform collapses.
How Stake Avoids Australian Jurisdiction
1. Offshore Licensing
Stake’s Curaçao license allows it to claim it is “not targeting” Australia, despite accepting Australian players. The IGA 1997 prohibits “prohibited interactive gambling services” that are provided to Australian customers. However, enforcement is challenging because the operator is outside Australian jurisdiction. The ACMA can only block websites via ISP-level restrictions, but VPNs and cryptocurrency transactions make detection difficult.
2. Use of Cryptocurrency
Stake exclusively uses cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.) for deposits and withdrawals. This avoids traditional banking channels that are subject to Australian financial regulations, such as the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. While the Australian Transaction Reports and Analysis Centre (AUSTRAC) monitors crypto exchanges, individual peer-to-peer transactions to Stake are harder to trace.
Implications of Ownership for Australian Players
1. Legal Risks
Under the IGA 1997, it is illegal for Stake to offer its services to Australian residents. While no Australian player has been prosecuted for using an offshore casino, the legal risk is not zero. The IGA 1997 does not criminalize the player, but related state laws (e.g., in New South Wales and Victoria) could theoretically apply if a player is deemed to be “aiding and abetting” an unlicensed operator. In practice, enforcement is rare.
2. Financial and Consumer Protection Risks
Since Stake is not subject to Australian financial ombudsman services (e.g., AFCA), players have no recourse if:
- Withdrawals are delayed or denied.
- Account is closed without reason.
- Disputes arise over game fairness (Stake uses provably fair technology, but this is self-regulated).
3. Tax Obligations
Australian players who win on Stake are still required to declare gambling income to the Australian Taxation Office (ATO). Gambling winnings are generally not taxable in Australia for casual players, but professional gamblers or those using cryptocurrency may face capital gains tax (CGT) on crypto-to-fiat conversions. The ATO has increased scrutiny on crypto gambling platforms, and players should maintain records of all transactions.
Key Takeaways for Australian Players
- Ownership is offshore: Stake is owned by Easy Global Services B.V. in Curaçao, not by any Australian entity. The co-founders Ed Craven and Bijan Tehrani are not legally liable under Australian law.
- Illegal under Australian law: Stake’s real-money casino services violate the IGA 1997. While players are not typically prosecuted, the platform itself is prohibited from operating in Australia.
- No regulatory safety net: Unlike licensed Australian online casinos (e.g., those regulated by the Northern Territory Racing Commission), Stake offers no Australian-based dispute resolution or deposit guarantees.
- Cryptocurrency adds complexity: Using Stake involves crypto volatility, potential CGT liabilities, and no chargeback rights (common with credit cards).
- Sponsorships do not imply legality: Stake’s high-profile sponsorships (e.g., Stake F1 Team, UFC) are marketing strategies and do not change its legal status in Australia. The ACMA has previously warned that such sponsorships do not legitimize the platform.
In summary, while Stake’s ownership is transparent in terms of corporate registration, its legal standing for Australian players is precarious. Any Australian considering using Stake should be fully aware of the legal risks, lack of consumer protections, and potential tax implications under Australian law.