Could Stake.com become the newest member of the Australian betting scene?

Stake.com has emerged as one of the freshest faces on the iGaming scene, taking the world by storm. Could they be ready to make a move into a market much closer to home?

Rumours are swirling that Edward Craven, one of the co-founders of the Stake brand and Australia’s youngest billionaire as a result, and his business partner Bijan Tehrani are targeting launching the brand Down Under.

According to Whichcasino.com, the pair are considering entering the far more trickier world of the Australian wagering space by launching a legal gambling operator that will compete with the likes of Tabcorp and Sportsbet.

Stake is currently not permitted to accept Australian punters with the company holding no licence. However, according to the reports Craven and Tehrani have registered the first Aussie companies and trademarks for their global gambling brand.

Stake.com is estimated to generate around $585 million through its online casino and international sports betting business on a daily basis.

Despite crypto gambling through online casinos not permitted in Australia, Craven and Tehrani have been able to register Stake Gaming Pty Ltd with the Australian Securities and Investment Commission (ASIC).

This is the first instance of the pair looking to utilise their well-known brand in Australia, while they have also applied with IP Australia to trademark the Stake Gaming brand too as they look to join the list of new betting sites in Australia.

All of the rumours surrounding this move have been intensified by Tehrani hinting that he and his business partner intend to enter the legal gambling market in Australia. Their plan is reportedly to bring a regulated online corporate bookmaker to rival the biggest companies currently present in the country.

Stake.com has seen a huge increase in popularity since 2017, with the crypto casino and sports betting gambling site going from strength to strength. The site reportedly accounts for around 7% of the total Bitcoin transactions globally each day.

When live-streaming service Twitch suspended live gambling streams in late-2022, the business seemed to have suffered a real blow. However, the duo moved quickly and are a part of new global streaming service Kick.

The streaming site may not yet be on the same level of popularity as Twitch, but it is quickly picking up big-name streamers and viewers.

The site has become popular as they currently offer a 95/5% revenue split to creators, with established competitor Twitch questioned by some for their switch in revenue split.

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