The amount of Australians that had gambled in the past six months rose from 7% in 2018 to 11% in 2021, representing 2.8 million people. For, the growing Australian market is attractive. With higher transparency, faster transactions, and fewer regulations, crypto gambling has become a convenient option. Online casinos have expanded as higher mobile phone use and 5G tech have increased customer size in recent years - but blockchain has also played a significant role in the industry’s growth. It’s projected to grow at a compound annual growth rate (CAGR) of almost 12% from 2023 to 2030, according to Grand View Research. The global online wagering industry’s market size was valued at nearly $64 billion in 2022. Stake can profit from Australia’s growing appetite for gambling The US case was dismissed due to lack of jurisdiction, but Freeman may find better luck suing the pair in Australia. In June, the duo narrowly dodged a $400 million lawsuit by their former partner Christopher Freeman, who claimed he had been misled and ousted from the firm. In 2021, the Sydney Morning Herald discovered was founded by Melbourne-based billionaire Ed Craven and American business partner Bijan Tehrani. The crypto casino has found widespread success in part through securing partnerships with big names like Canadian singer Drake and infamous crypto shill Ben Armstrong, known as BitBoy. is based in Curaçao but operated from Australia. Read more: BitBoy and another less famous Ben are giving crypto a bad name claims that has misled customers to believe the brands are related.

Features of Stake’s crypto casino, including its e-shop, are already available to locals as it attempts to secure a casino license. It made the case that the crypto casino broke the law by using its name and making false and misleading statements on its website, which confused Australia-based customers into thinking the companies were related.

allows locals to “seamlessly invest” in US stocks. Court documents seen by the Australian Associated Press argue that it had already established a strong brand and reputation in Australia and therefore the crypto casino shouldn’t be allowed to operate in the country under the Stake name.

Major crypto gambling site Stake has been sued by a Sydney-based share trading platform using the same name, as it attempts to enter Australia’s gambling market.Ī federal court lawsuit was filed by the trading site,, last week.

Stake casino down