Crypto Casino Stake.com sued for $400 million

[DoublerHunter]

snip

Seeing that legal battle what Stake currently facing on will make people doubt about their current condition since imagine if they lose to that case there's huge amount will be taken on their stash. And its valid concern for people since maybe this could be the reason on why stake will fall.

But let see how the case proceed and for sure many of curious people want to know the further developments happening to this.

400m is indeed a big amount but considering on how long and how profitable stake is in crypto space then i do believe that it wont be a reason for it to be closing down.
Yes,it might result on a big hit but wont be enough on wiping its existence on the market or would be closing down.They might affect big on their overall revenue but
if things comes back to normal then it would really be just easy as pie on recovering  those losses that they do have if ever Freeman would really win up
this case and getting that 400m.

^ It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

[1715304610]

1715304610

[darkangel11]

^ It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue.

Sure, they can have a million saved up, probably much more than that, but it's 400 million. If they settle for half of that it's still going to hurt. I don't know how much they have but even rich businesses don't have 400m to spend it's all tied up into expenses, loans, stuff like that. They could get that money but it would mean closing down.
On the other hand it makes you think how much Stake is making in revenue. He had to know if he asked for 400m. If the business was making 10m a year he wouldn't be asking for 400 that's just my thought. They must be able to pay that much if he's asking for it.

[Japinat]

^ It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue.

Sure, they can have a million saved up, probably much more than that, but it's 400 million. If they settle for half of that it's still going to hurt. I don't know how much they have but even rich businesses don't have 400m to spend it's all tied up into expenses, loans, stuff like that. They could get that money but it would mean closing down.
On the other hand it makes you think how much Stake is making in revenue. He had to know if he asked for 400m. If the business was making 10m a year he wouldn't be asking for 400 that's just my thought. They must be able to pay that much if he's asking for it.

The plaintiff of course knew how much does the Stake earns annually because he is a former partner of the Stake, he wouldn't be asking for that kind of humungous amount if the Stake is earning much lower annually. Maybe that $400 Million is not a big amount for the said company but I don't think that they will be willing to give that amount and based on case filed, the Stake might win the case soon.

Anyway, I've looked and search the Stake.com, it says here that the company has an estimated value amounting to $1 Billion.

[molsewid]

Sure, they can have a million saved up, probably much more than that, but it's 400 million. If they settle for half of that it's still going to hurt. I don't know how much they have but even rich businesses don't have 400m to spend it's all tied up into expenses, loans, stuff like that. They could get that money but it would mean closing down.
On the other hand it makes you think how much Stake is making in revenue. He had to know if he asked for 400m. If the business was making 10m a year he wouldn't be asking for 400 that's just my thought. They must be able to pay that much if he's asking for it.

Yes I think it is kinda now for now to receive a news like that, different sue online that makes us think that a certain casino company  will start to collapse but then we will see that it will not happen. But maybe keep your funds, avoid saving too much in Stake and try to move it to other Wallets for now. So we can be sure and our money is at the right place.

[dothebeats]

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

[serjent05]

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

If there is no other evidence presented to the court and just this baseless claim, there it is logical to think that this case will not propagate and the court will give stake.com a favorable decision.  I also don't think that the statement of the complainant is credible, if the person is indeed what he stated in relation to  stake.com then he could have filed the complaint during the early years of stake.com when it is not yet earning huge.  It is obvious that greed drives the intention of the complainant since he is after the money that is actually not his.

[freedomgo]

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

There's no way that the court will even think of granting that kind of amount, $400 Million for a settlement? That's absurd! I cannot even imagine that the plaintiff who is a former partner of Stake seriously thinks that the company will just give what he wants. But even before they get to that point, the court will likely dismiss the case because the plaintiff didn't provide serious and solid evidence.

[Mahanton]

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

There's no way that the court will even think of granting that kind of amount, $400 Million for a settlement? That's absurd! I cannot even imagine that the plaintiff who is a former partner of Stake seriously thinks that the company will just give what he wants. But even before they get to that point, the court will likely dismiss the case because the plaintiff didn't provide serious and solid evidence.

The case is still in progress and we dont know on what are the evidences that Freeman might show off which might result into the success of asking such huge amount.He had just asked out
on what share he should have.We dont know on what are the real numbers in terms of revenues been made but he wont really be making out those huge chunks
if he do sees that the company isnt really making that big revenue.Dismissing directly? I dont think so.

[Taskford]

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

There's no way that the court will even think of granting that kind of amount, $400 Million for a settlement? That's absurd! I cannot even imagine that the plaintiff who is a former partner of Stake seriously thinks that the company will just give what he wants. But even before they get to that point, the court will likely dismiss the case because the plaintiff didn't provide serious and solid evidence.

If no solid evidence has been provided then most provably that they dismiss the case but for demanding that huge amount of money from stake maybe freeman have legal basis on his action he do since no crazy people will just declare that crazy amount without holding anything. But let see if freeman tells truth because its up to the court to decide if his claims will be granted or not.

[X-ray]

^ It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue.

Sure, they can have a million saved up, probably much more than that, but it's 400 million. If they settle for half of that it's still going to hurt. I don't know how much they have but even rich businesses don't have 400m to spend it's all tied up into expenses, loans, stuff like that. They could get that money but it would mean closing down.
On the other hand it makes you think how much Stake is making in revenue. He had to know if he asked for 400m. If the business was making 10m a year he wouldn't be asking for 400 that's just my thought. They must be able to pay that much if he's asking for it.

I think that you guys are thinking too far about that. Everything is fine right now. 400 millions was only amount that sued by another party who are still in conflict but it doesn't mean stake must have paid that such amount. In my opinion if you must see the case.
In this case it's only the news. The reality will be different. It's total amounts sued by others but that's only nominal.

[_act_]

^ It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue.

Sure, they can have a million saved up, probably much more than that, but it's 400 million. If they settle for half of that it's still going to hurt. I don't know how much they have but even rich businesses don't have 400m to spend it's all tied up into expenses, loans, stuff like that. They could get that money but it would mean closing down.
On the other hand it makes you think how much Stake is making in revenue. He had to know if he asked for 400m. If the business was making 10m a year he wouldn't be asking for 400 that's just my thought. They must be able to pay that much if he's asking for it.

I think that you guys are thinking too far about that. Everything is fine right now. 400 millions was only amount that sued by another party who are still in conflict but it doesn't mean stake must have paid that such amount. In my opinion if you must see the case.
In this case it's only the news. The reality will be different. It's total amounts sued by others but that's only nominal.

You are not wrong, a lot of things would be considered before anything would be done. $400 million is demanded for, but not that it was ordered by a judge that such amount or higher should be paid by Stake. That is what we should most consider. I get the point that people are saying that such might not have been demanded if Stake can not pay it, I think it is true too. Also I thought the case has been dismissed, or am I getting it wrong?

[ChiNgadOr]

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

There's no way that the court will even think of granting that kind of amount, $400 Million for a settlement? That's absurd! I cannot even imagine that the plaintiff who is a former partner of Stake seriously thinks that the company will just give what he wants. But even before they get to that point, the court will likely dismiss the case because the plaintiff didn't provide serious and solid evidence.

If no solid evidence has been provided then most provably that they dismiss the case but for demanding that huge amount of money from stake maybe freeman have legal basis on his action he do since no crazy people will just declare that crazy amount without holding anything. But let see if freeman tells truth because its up to the court to decide if his claims will be granted or not.

It all depend on how strong the case can be and if no solid evidence then the case will be abolished so gamblers would not have to be bothered about the court case. Due to this case, many gamblers that have no strong knowledge about the whole thing had started withdrawing their funds from the casinos to avoid loses of their money if Incase the court ask Stake to compensate the other partner. This is not a serious case that we need to bother ourselves about and soon we shall here the final result from the court.

[Peanutswar]

If this becomes crucialright now it is good to make a withdrawal with your funds because there's a chance that they might lock their platform for the meantime because of this and to make sure it is good to take it now but if you are not in the KYC and for sure if that is a large amount you want to withdraw there's a chance they might request you a KYC so you can withdraw a portion of your funds, I don't know yet if the stake has a limit for the withdrawal per day.

[stadus]

If this becomes crucialright now it is good to make a withdrawal with your funds because there's a chance that they might lock their platform for the meantime because of this and to make sure it is good to take it now but if you are not in the KYC and for sure if that is a large amount you want to withdraw there's a chance they might request you a KYC so you can withdraw a portion of your funds, I don't know yet if the stake has a limit for the withdrawal per day.

You're right about that, even if the case is not directly connected to the platform and its clients, we should be clever enough to act earlier because we don't know what would happen if the case goes worse as it's really bad for the company's image to face this kind of lawsuit especially if the conflict is in the inside as the plaintiff is also their former partner. Best thing to do for now is withdraw the funds if you cannot afford to lose it, just leave some spare funds for you to enjoy the platform.

[seoincorporation]

If this becomes crucialright now it is good to make a withdrawal with your funds because there's a chance that they might lock their platform for the meantime because of this and to make sure it is good to take it now but if you are not in the KYC and for sure if that is a large amount you want to withdraw there's a chance they might request you a KYC so you can withdraw a portion of your funds, I don't know yet if the stake has a limit for the withdrawal per day.

And this is not the worst scenario... they could decide to close the site and declare bankruptcy. Personally i haven't seen this in the past, and when a casino decide to close they give some time to their customers for them to withdraw their money.

This is just the lawsuit, and stake can win against the guy, so, let's keep an eye open and follow the news to see where this go.

[Sithara007]

Stake is currently the largest bitcoin casino in the world and the creators (Ed Craven and Bijan Tehrani) have already made it clear that the lawsuit is false as well as frivolous. The market value of the company is estimated at at least $1 billion, and they have been in operation since 2017. And the lawsuit by Christopher Freeman is laughable at the best. He claims that he was "misled into not taking part in the creation of Stake.com". I don't think that there is even a minute chance of Freeman winning this lawsuit with such wild claims.

[freedomgo]

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

There's no way that the court will even think of granting that kind of amount, $400 Million for a settlement? That's absurd! I cannot even imagine that the plaintiff who is a former partner of Stake seriously thinks that the company will just give what he wants. But even before they get to that point, the court will likely dismiss the case because the plaintiff didn't provide serious and solid evidence.

The case is still in progress and we dont know on what are the evidences that Freeman might show off which might result into the success of asking such huge amount.He had just asked out
on what share he should have.We dont know on what are the real numbers in terms of revenues been made but he wont really be making out those huge chunks
if he do sees that the company isnt really making that big revenue.Dismissing directly? I dont think so.

Directly? No, that won't happen because there's nothing like that in the real world but eventually I think it will be dismissed. Also, you got some point that Christopher Freeman may have some trump card in his sleeve that will likely make the case move to the opposite direction but as of this point, I think he doesn't have any of that. He should throw some proof first because that amount he's trying to ask is not a simple amount and it really looks like it was all allegations because he failed to provide some substantial evidence.

[Fortify]

As a long time Stake user this makes me feel concerned, I'll be withdrawing all of my funds and going elsewhere!

Interesting to see that Twitch are going to be actively banning mention of these crypto casinos in future, so it looks like streaming services are starting to see danger in associating or allow advertisement of these highly risky gambling sites. It's actually surprising that there has not been more aggressive prosecution of them advertising on sites that are heavily visited by younger children. As always, it seems like the regulators are quite far behind in dealing with the problem effectively but this does not bode well for a positive outcome for Stake.com. It is shocking to see such a high number thrown around but they could probably pay for it with a long term profit share instead of having to sell up, we see the massive amounts they can spare on advertising already.

[Mahanton]

As a long time Stake user this makes me feel concerned, I'll be withdrawing all of my funds and going elsewhere!

Interesting to see that Twitch are going to be actively banning mention of these crypto casinos in future, so it looks like streaming services are starting to see danger in associating or allow advertisement of these highly risky gambling sites. It's actually surprising that there has not been more aggressive prosecution of them advertising on sites that are heavily visited by younger children. As always, it seems like the regulators are quite far behind in dealing with the problem effectively but this does not bode well for a positive outcome for Stake.com. It is shocking to see such a high number thrown around but they could probably pay for it with a long term profit share instead of having to sell up, we see the massive amounts they can spare on advertising already.

Come to think that Twitch isnt only the platform on which these companies would able to make advertisements which it would really be that normal that if they are prohibited or been banned or removed then they would really be allocating some budget for marketing in other platforms which they could really make still that exposure and appearance in overall market.Being banned or prohibited doesnt mean that it would be over for the business or would really make a huge toll for their revenue to be affected.This doesnt only talk about Stake but also other known sites as well on this market including in my signature.

[wxa7115]

As a long time Stake user this makes me feel concerned, I'll be withdrawing all of my funds and going elsewhere!

Interesting to see that Twitch are going to be actively banning mention of these crypto casinos in future, so it looks like streaming services are starting to see danger in associating or allow advertisement of these highly risky gambling sites. It's actually surprising that there has not been more aggressive prosecution of them advertising on sites that are heavily visited by younger children. As always, it seems like the regulators are quite far behind in dealing with the problem effectively but this does not bode well for a positive outcome for Stake.com. It is shocking to see such a high number thrown around but they could probably pay for it with a long term profit share instead of having to sell up, we see the massive amounts they can spare on advertising already.

Some people are surprised about what's happening with Twitch but I do not think it is surprising at all, streamers that were promoting casinos were getting incredibly popular to the point they were attracting more views than most video games, and since a lot of people that watch those streamers are underage then it is natural that something had to be done about it.

Now the interesting part is that they decided to go for a ban instead of a system that allowed those streamers to keep promoting that kind of content, so I wonder if Twitch was somehow forced to adopt that policy.