Crypto Casino Stake.com sued for $400 million

[cryptomaniac_xxx]

https://watcher.guru/news/bitcoin-casino-founders-slapped-with-a-400m-lawsuit?c=566

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

I think litigation between ex partners are fairly normal in most of the cases.I would advise you to not do so because that is a ridiculous amount to Stake,they,Stake offered like 900m as a bonus last December only during the festive holidays of end of year and Christmas.

Beside that I am sure they will settle the matter just fine between the two parties,in the end nothing to worry here.I am keeping my funds and keep playing there because there is no reason to move elsewhere.

Yes, we've seen this before, partnership turns sour and then decided to sue one another. In the beginning if might not look good, but as time goes by, both online gambling platform has established themselves already, prime dice and stake then I wouldn't worry to much of it.

Of course, if the OP is that paranoid, then he can shop for other reputable casinos and make himself comfortable. I think this might be settled out of court for all we know.

[Wexnident]

Looks like a really bad issue but I don't think the stake would drop down because of it, settlements would probably be made and that would be it. I guess it wouldn't be bad to stay away from stake temporarily but I don't think it's going to go that bad imo, the $400m amount also seems like it was just dropped so that it can be blown up and the person suing could have more power or something imo. Just give it a few months, or weeks if it was fast and I don't think the issue would still be up, unless the person suing well totally pushes for the issue to be blown out of proportion.

[Zlantann]

We all can learn from here everything should have a contract even if you are dealing with your best friend, do not rely on a verbal contract, everything should be on paper and transparent, and it should be notarized because something like this could arise, Stake is considered one of the top three casinos in the industry and players will have a doubt and might transfer to other exchange, this is very interesting and we'll wait for more updates because this involves a very huge amount.

These claims are mere accusations that need to be proven beyond a reasonable doubt. Christopher Freeman is claiming that he conceived the idea of establishing a crypto casino which Ed Craven and Bijan Tehrani secretly stole and established Stake.com. But he was never part of the company and he should be able to prove that it was his idea with legal documents. But I think Stake.com is a legal entity, hence the personal matter between these three friends should be settled. Ed Craven and Bijan Tehrani should at least give their friend some millions, instead of wasting the money on extravagant and luxurious expenses.

[acroman08]

I'd love to hear more of this, I hope there would be an update soon with the case.

it's kind of weird that Chris Freeman's stake in the casino was reduced from 20% to 14% while Ed Craven and Bijan Tehrani stake in the casino did not(I assumed it wasn't reduced because it was never mentioned in the article that their stake was affected)? I wish they'd give more information since I think this one is still lacking.

[Eternad]

I'd love to hear more of this, I hope there would be an update soon with the case.

it's kind of weird that Chris Freeman's stake in the casino was reduced from 20% to 14% while Ed Craven and Bijan Tehrani stake in the casino did not(I assumed it wasn't reduced because it was never mentioned in the article that their stake was affected)? I wish they'd give more information since I think this one is still lacking.

I doubt that more info will be available in the public since the company reputation is at stake on this lawsuit. Releasing public information might just worsen the situation since they are operating a services while the issue is internal conflict. This need to be settled and let freeman speak to clarify what’s going when the smoke is already clear. Freeman has no role on Stake company and the reason for this issue. Ed and Bij cut him off and now he wants to paid.

[Bttzed03]

~ This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane.

From what I know, it's not guaranteed that he'll be granted that amount if he wins the case. It's still the court who will decide the just compensation.

~ This is like an internal issue and the management has handled it.

If I understood the article correctly, it doesn't look like an internal issue because Freeman wasn't an official part of Stake.

Just be careful using 'handled' when it comes to pending cases because that usually connotes solved/settled. The court is yet to decide if there is a probable cause and proceed to a trial or just dismiss it if none.

[aioc]

~ This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane.

From what I know, it's not guaranteed that he'll be granted that amount if he wins the case. It's still the court who will decide the just compensation.

~ This is like an internal issue and the management has handled it.

If I understood the article correctly, it doesn't look like an internal issue because Freeman wasn't an official part of Stake.

Just be careful using 'handled' when it comes to pending cases because that usually connotes solved/settled. The court is yet to decide if there is a probable cause and proceed to a trial or just dismiss it if none.

This could go become a long process because both have money especially Stake who needs to win this case in their favor as they have a business to protect, Freeman could opt for out court settlement if he has a good case this case will followed by the whole industry as its can involved a major shakeup in the standing, Stake can opt for out of court settlement it's better this way to end this so players will not doubt on the status of Stake.com.

[Yamifoud]

I will be worried if I'm gambling a lot of money in stake.com, thing is, I only gamble a penny, so whatever happens, I'm okay with losing the money. Stake has a good reputation, they are a big gambling site, so I don't think they will just easily give this fight up, they are only sued, no court decision yet, so nothing to worry.

[virasisog]

~ This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane.

From what I know, it's not guaranteed that he'll be granted that amount if he wins the case. It's still the court who will decide the just compensation.

~ This is like an internal issue and the management has handled it.

If I understood the article correctly, it doesn't look like an internal issue because Freeman wasn't an official part of Stake.

Just be careful using 'handled' when it comes to pending cases because that usually connotes solved/settled. The court is yet to decide if there is a probable cause and proceed to a trial or just dismiss it if none.

This could go become a long process because both have money especially Stake who needs to win this case in their favor as they have a business to protect, Freeman could opt for out court settlement if he has a good case this case will followed by the whole industry as its can involved a major shakeup in the standing, Stake can opt for out of court settlement it's better this way to end this so players will not doubt on the status of Stake.com.

I don't think Stake would let their users to doubt the site and panic because of this issue. This usually happens if there had been a problem with the partnership but I firmly believe that Stake would fix this as soon as they can ans they wouldn't let their reputation to be ruined. The stake has been providing a good service for years and I don't think this issue would be enough to stumble them.

[dothebeats]

That's a huge demand for punitive damage, and I doubt that Stake.com will agree to pay this settlement at all. The case isn't even finalized, and it's still up to the courts whether they'd proceed with this or not. What they did with Freeman is awful, but I guess the amount is still outrageous to say the least. Hopefully this gets settled in a way where both parties are happy with the outcome albeit a relationship that is already tarnished.

This could go become a long process because both have money especially Stake who needs to win this case in their favor as they have a business to protect, Freeman could opt for out court settlement if he has a good case this case will followed by the whole industry as its can involved a major shakeup in the standing, Stake can opt for out of court settlement it's better this way to end this so players will not doubt on the status of Stake.com.

If Stake.com managed to get the settlement done and all parties are happy with the outcome, this might even become a boost for Stake.com since they managed to solve the situation at hand and not evade it at all.

[Rruchi man]

I'll be withdrawing all of my funds and going elsewhere!

Certainly, there will be many other users like you on their platform that will find this new development very disturbing and may want to pull back from their services as a result of this. I read the whole story and all I can see is that it is a case of someone seeking settlement. The current management of Stake should not just shove this off as if it is not quickly settled, the individual seeking settlement will go to almost any length including man to man discussions, to try to ruin the casino's image.  While having this case settled, they should also seek to ensure that they do not have further future cases of people suing them for similar issues, because people can be funny at times and notice that since they settled this individual quickly, may want to take advantage and try their own luck.

[Gozie51]

I understand that Stake might be a high risk as this moment but the money he is asking is too good to be true. I think a settlement for a lower amount is appropriate on this kind of lawsuit that clearly just want to share a piece of cake on Stake success.

Quite huge but that is the measurement of damage seeking for based on the plaintiff , the court will eventually know what is appropriate to do. This will cause panic within the stake community except the company has to deactivate the withdrawal for now until the lawsuit is resolved.

However Christopher Freeman has a case to proof about how his "former" colleagues made him stray away from the business because seeing them live a lavish lifestyle and buying of expensive cars are not enough for him to get the relief he is seeking for.

[Fredomago]

https://watcher.guru/news/bitcoin-casino-founders-slapped-with-a-400m-lawsuit?c=566

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

I think litigation between ex partners are fairly normal in most of the cases.I would advise you to not do so because that is a ridiculous amount to Stake,they,Stake offered like 900m as a bonus last December only during the festive holidays of end of year and Christmas.

Beside that I am sure they will settle the matter just fine between the two parties,in the end nothing to worry here.I am keeping my funds and keep playing there because there is no reason to move elsewhere.

Good point Stake owners will settle this on the court and there's no need to create panic as the business was already established, if they can provide a huge amount on advertising and sponsorships what more they can take if things will affect their business, beside it's not been decided yet, there are two sides of the stories and both parties needs to prove their versions.

A counter or a settlement will be discussed and a big business like stake will choose the best way for their business.

If the court asks them to pay, then so be it. Business will continue and it will be taken as losses, a part of a business that they will consider
if things will turn against them.

[AmoreJaz]

https://watcher.guru/news/bitcoin-casino-founders-slapped-with-a-400m-lawsuit?c=566

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

I think litigation between ex partners are fairly normal in most of the cases.I would advise you to not do so because that is a ridiculous amount to Stake,they,Stake offered like 900m as a bonus last December only during the festive holidays of end of year and Christmas.

Beside that I am sure they will settle the matter just fine between the two parties,in the end nothing to worry here.I am keeping my funds and keep playing there because there is no reason to move elsewhere.

Good point Stake owners will settle this on the court and there's no need to create panic as the business was already established, if they can provide a huge amount on advertising and sponsorships what more they can take if things will affect their business, beside it's not been decided yet, there are two sides of the stories and both parties needs to prove their versions.

A counter or a settlement will be discussed and a big business like stake will choose the best way for their business.

If the court asks them to pay, then so be it. Business will continue and it will be taken as losses, a part of a business that they will consider
if things will turn against them.

though the amount involve is huge for many, but in my opinion, if this case will push thru and stake needs to pay, i believe it won't be difficult to settle this  amount as we have seen how much money they are giving just for holiday bonuses. some may panic but that's just a normal reaction. i am not bias on looking at this scenario, but with the business they have today, i don't think they will just let this ruin what they established. so let's see where this goes...as you said, they may just treat such amount as losses. and then, business as usual.

[qwertyup23]

$400 million in punitive damage? That's insane! I believe it's a good time to withdraw your funds from Stake asap because you never know the outcome of the lawsuit. This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane. So just to make your funds safe, move to a different casino for the time being.

This kind of issue is what makes or breaks a respectable gambling website. Like what I previously mentioned, owning a gambling casino revolves around building a brand and a collective ecosystem where people would want to continue gambling in to your website. Anything that includes lawsuits, conflicts, or even customer service feedback can heavily impact the popularity of a gambling website.

Since a lawsuit has been filed in Stake, expect that there would be people withdrawing their funds in order to protect and secure their money. Even if the lawsuit fails, this still creates some sort of damage on Stake's popularity and image as a whole.

[abel1337]

$400 million in punitive damages will completely destroy Stake if they lose and in the meantime, many users will leave the casino fearing the outcome of this lawsuit. I guess the founders should resolve this issue out of court otherwise this lawsuit will also dent Stake's reputation. This lawsuit looks similar to the Zukerberg and Winklevoss issue wherein the latter one $65 million in the settlement.

I don't think stake will suffer so much damage that their customers will leave with fear because of this lawsuit. Stake seems pretty confident about their case and according to their statement, They are predicting that the case will be dismissed by the court. I agree that it looks pretty similar, actually it's the first thing came into my mind after reading the article. It's just sad that the old partners where now in a disarray. The memories and hardships they all did is now just hate between three old batchmates.

[Fortify]

https://watcher.guru/news/bitcoin-casino-founders-slapped-with-a-400m-lawsuit?c=566

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

That's definitely an interesting development and does not necessarily bode well for people who have funds in Stake like you say. Theoretically Stake should keep customer funds separate and safe from any sort of court action like this. I suspect the person taking the court action would be more interested in Stake keeping it's strong position in the market and they would receive consistent payouts from the profits that it is generating, either that or receiving back an appropriately sized share of the company based on the outcome of the settlement. These situations are often either messy or super simple to settle, if it's messy then who knows what the end result will be but customer funds should always be protected.

[dothebeats]

$400 million in punitive damage? That's insane! I believe it's a good time to withdraw your funds from Stake asap because you never know the outcome of the lawsuit. This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane. So just to make your funds safe, move to a different casino for the time being.

This kind of issue is what makes or breaks a respectable gambling website. Like what I previously mentioned, owning a gambling casino revolves around building a brand and a collective ecosystem where people would want to continue gambling in to your website. Anything that includes lawsuits, conflicts, or even customer service feedback can heavily impact the popularity of a gambling website.

Since a lawsuit has been filed in Stake, expect that there would be people withdrawing their funds in order to protect and secure their money. Even if the lawsuit fails, this still creates some sort of damage on Stake's popularity and image as a whole.

IMO the damage is only done if Stake tried to game the system and avoid litigation as much as possible. Also, this hasn't gone to the courts yet, only filed by the other party seeking just compensation for what Stake's owners and founders did. Stake will do just fine if they just went with the flow and pay the money awarded by the courts should they favor the other party. They can do that easily, as Stake can pay the likes of Drake and still give out tons of generous bonuses to their users.

[Finestream]

$400 million in punitive damage? That's insane! I believe it's a good time to withdraw your funds from Stake asap because you never know the outcome of the lawsuit. This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane. So just to make your funds safe, move to a different casino for the time being.

This one is terrible. Whatever the result is, I guess this will definitely create fears on all gamblers to find some safe means to gamble wherein their money is safe and secured. For now, yes it’s better to avoid Stake and withdraw your funds for the good sake. Otherwise, your money will be lost quickly without you knowing.

[ralle14]

Even if the lawsuit fails, this still creates some sort of damage on Stake's popularity and image as a whole.

That is true but I wouldn't worry about their reputation that much since it only takes time for them to rebuild it as we've seen other casinos been through bad cases before and still recover their reputation.

I'm also in the same boat as acroman and want to hear more from the side of Stake since it's unclear as to why it got to that point out of nowhere and it'd be interesting to hear their response if someone decides to bring this up during Eddie's stream tomorrow.