Crypto Casino Stake.com sued for $400 million

[passwordnow]

this is alarming for stake players like us , though i am not holding big amount in Stake site yet this is something that we must put a main concern.

Not that alarming. You can read the article and see what it is all about. If you're a regular customer, there's no need for you to be worried about it. Whether you have a big or small amount on your bankroll, that won't be touched by this problem that has been brought.

the lawsuit damage claim is really high that will surely affect the operation of this old and biggest site.

Hoping that they will get into settlement agreement that both will benefits .

If they're not even bothered by it, there's no way that the customers should be bothered by it.

[fortunecrypto]

If they're not even bothered by it, there's no way that the customers should be bothered by it.

It's not that Freeman can get the win right away there will be a lot of presentations on the case, between the two Stake.com has the money they can hire or they already have the best lawyers to fight this case, they can go on a short route by settlement, I don't think this is something that will cause alarm, Facebook has similar issues in the past, and many corporate have faced similar issues, Stake.com knows what to do and they will continue to be the top casino in the industry.

[livingfree]

I don't understand why livingfree is trying to reassure people while he is not even a member of their campaign. If people lose their funds I guess he will reimburse them. Right livingfree? LOL

I'm not reassuring people, I'm just giving my opinion based on what I've read on that article. That's the only source where I've based from what I've read. Whether I'm not a member of their campaign, I've just read the information that's in the article.

And if people lose their funds, why I will reimburse them if I've just given my opinion about what has been shared on this board?

There have been cases brought by newbies about their funds about this casino and there are several factors that have been given for those reasons, either they cheated, there's an abused and others.

Although I understand it about the thoughts of being worried still, we all have a say and way of taking care of our funds and handling issues that could affect our trust and funds. If you trust them, it's up to you and keep it there but if this worries you, withdraw your funds.

[Fredomago]

right, when the authorities intervene in this case, it is not impossible that stake operations will be temporarily suspended until the court's decision is completed, Transferring funds temporarily to other gambling sites is a wise thing. money is always the problem with a company founded with friends or colleagues.

Suspending stake operation for this case is most likely not going to happen for now. This is an internal management issue involving partners on what way they have been treated and allegation of sharing or getting benefit but not financial embezzlement. So I think it will be in the jurisdiction of the court to determine against evidence presented or maybe out of court using ADR (Alternative Dispute Resolution) on a round table with some wine and bottles of beer.

More on the money side and I'm sure Stake have that enough funds to settle this if in case they'll going to lose with this case, but operation wise they won't allow any interventions as the main point here is for them to settle the claim and there' nothing to be confiscated as like you mentioned there's no financial issue or whatsoever.

Same with my first sentiment, if stake can throw huge amount of money for promotions, advertising and partnerships what more in this case, they can pay this for the operation to continue and not to allow their clients to fear out.

[mv1986]

$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 could be creating a panic. It is just a lawsuit that has not been decided. It is between partners, friends or Co founders. I would have supported the idea of moving your funds if the suit was against government. Stake has released a statement and with the statement we don't need to panic. Even if $400m suit is made, it doesn't mean stake will pay $400 is too high. It's likely they will resolve the issue out of court.

But you raised a good point here: even if the guy doesn't expect to receive the $400 million, creating a panic could be one major goal of that lawsuit and I think that people will indeed withdraw funds. Now maybe not to an extent that they run into an existential liquidity crisis, but you can't ever know. If everyone wanted their money all at once, that could put the casino under pressure as the question also is when people who left temporarily start playing again. So either way such a message causes probably financial damage in some shape or form.

[molsewid]

$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.

I agree with you, that's a huge amount and enough number to make a certain company to collapse and have a huge debt as well. We all know stake. com maybe they have plenty of money to be used in order to this issue but then investors will have a doubt on them since they already lose money we as people will always think that if one case arises more will come up soon and do they still have some money when that time comes? so I think better to move out the money and come back after they will clear their name publicly and with a clarifications.

[Lanatsa]

$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.

I agree with you, that's a huge amount and enough number to make a certain company to collapse and have a huge debt as well. We all know stake. com maybe they have plenty of money to be used in order to this issue but then investors will have a doubt on them since they already lose money we as people will always think that if one case arises more will come up soon and do they still have some money when that time comes? so I think better to move out the money and come back after they will clear their name publicly and with a clarifications.

If you do really tend to read up the link then it do states on how much this firm been earning
"He noted that the firm had processed about $100 billion in bets."

If you do just make out some percentage reduction or revenue out of those bets then that 400m amount wont totally close up this company but it cant
really be denied that this amount is indeed huge or would give big impact.

[Baofeng]

right, when the authorities intervene in this case, it is not impossible that stake operations will be temporarily suspended until the court's decision is completed, Transferring funds temporarily to other gambling sites is a wise thing. money is always the problem with a company founded with friends or colleagues.

Suspending stake operation for this case is most likely not going to happen for now. This is an internal management issue involving partners on what way they have been treated and allegation of sharing or getting benefit but not financial embezzlement. So I think it will be in the jurisdiction of the court to determine against evidence presented or maybe out of court using ADR (Alternative Dispute Resolution) on a round table with some wine and bottles of beer.

More on the money side and I'm sure Stake have that enough funds to settle this if in case they'll going to lose with this case, but operation wise they won't allow any interventions as the main point here is for them to settle the claim and there' nothing to be confiscated as like you mentioned there's no financial issue or whatsoever.

Same with my first sentiment, if stake can throw huge amount of money for promotions, advertising and partnerships what more in this case, they can pay this for the operation to continue and not to allow their clients to fear out.

Definitely, it boils down to money, to the ex-partner that's why he sued the current owner of Stake. Even in other industries, this happen specially if the company become so famous and started to rake money, billions and billions like in this example.

But hopefully, they could settle their difference and move on. I'm not saying that Stake can't afford to pay $400 million, but for sure them and the lawyers will have to put up a fight and or at least lower what was initially ask by the complainant.

[crzy]

Definitely, it boils down to money, to the ex-partner that's why he sued the current owner of Stake. Even in other industries, this happen specially if the company become so famous and started to rake money, billions and billions like in this example.

But hopefully, they could settle their difference and move on. I'm not saying that Stake can't afford to pay $400 million, but for sure them and the lawyers will have to put up a fight and or at least lower what was initially ask by the complainant.

There’s no doubt that STAKE can totally settle that $400million but the issue here is not about the money, this is already in the court and that could be more alarming since it can happen again once a gamblers find a reason to sue the site. If this will push through, we can expect for a temporary suspension of the site and that could affect many gamblers. This is too bad especially if the old partner knows your bad side, let’s see how they can handle this issue.

[Johnyz]

There’s no doubt that STAKE can totally settle that $400million but the issue here is not about the money, this is already in the court and that could be more alarming since it can happen again once a gamblers find a reason to sue the site. If this will push through, we can expect for a temporary suspension of the site and that could affect many gamblers. This is too bad especially if the old partner knows your bad side, let’s see how they can handle this issue.

This is where money can take you, they are co-partners before but due to some reason they part ways and this is the result of that. I know Stake can settle this issue but most probably, Freeman wont come into that agreement and continue to pursue this case. Well, this is their personal problem and not related to Stake gambling itself, we can still have an assurance that the site will stay intact. With regards to the suspension of the operation, I don’t think it can happen, because the case is not about the site itself, the case is about their agreements. 

[Wakate]

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!

So many news I have been seeing in the net recently and I wouldn't be surprised because this is the same way Facebook was sued too and Mark Zuckerberg had to compensate his colleague that both joined to create Facebook.
This kind of news is normal in this era that we are and we shouldn't be worried about it because the end would still be compensation which would not be as much money that is requested. Nothing to be worried about because it looks like he wanted compensation from the casinos which is quite obvious.

[goaldigger]

$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.

Regardless of the issue, we should start withdrawing some funds for now because it can really affect the site itself and maybe the court will order that while the case is on-going. This is a battle of rich people, they all have the money to pursue this case and with that issue, I hope Stake can afford this one and win the case though they can still settle this, and might be the best way to protect the interest of their players.

[samcrypto]

$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.

Regardless of the issue, we should start withdrawing some funds for now because it can really affect the site itself and maybe the court will order that while the case is on-going. This is a battle of rich people, they all have the money to pursue this case and with that issue, I hope Stake can afford this one and win the case though they can still settle this, and might be the best way to protect the interest of their players.

Not to create panic, but it’s really advisable for now while the case is still on-going. I don’t know if this can totally affect the site itself but with that kind of issues, I think some gamblers will started to pull out. Well, this happened already with many site before but the good thing is, their platform is still running while the case is on-going so we might not see any suspension here which is good if you are planning to pull out later on. 

[STT]

Bit of a troll isnt it, how is this relevant to whether you play there or not.    The true details and nature of the legal case is not something likely to be known perfectly by players and users of the site, I dont see it affects me in my choice to play or not.   Discussions over equity in a business by partners or former partners is not that uncommon, Facebook famously faced this and to this day has some unusual share class distribution to its stock listing.   Really more of a business discussion then a player thing imo.

[mindrust]

Even if he don’t win the lawsuit these news will be devastating for the casino’s public image. Now lots if people will panic and withdraw funds because of that. It may even send the casino to bankruptcy. Stake/Primedice is (or was) one of the biggest casinos in this space and not many people had any serious problems with them. They (probably) still have a good reputation but these news might change everything.

[Cling18]

Even if he don’t win the lawsuit these news will be devastating for the casino’s public image. Now lots if people will panic and withdraw funds because of that. It may even send the casino to bankruptcy. Stake/Primedice is (or was) one of the biggest casinos in this space and not many people had any serious problems with them. They (probably) still have a good reputation but these news might change everything.

It isn't a reason enough for people to feel devastated or fearful about this case because we all know that Stake is a reputable site and they will never let this issue pass without solving it. If it isn't affecting the gameplay, for now, I guess we shouldn't feel too bothered about what is happening because it will still take a legit process. It might affect the image of Stake but I don't think it will affect the good service that they could provide.

[Viscore]

Upon reading, if you're a long time user of them, there's no need for you to worry. This is like an internal issue and the management has handled it.

The answer is there and stake has already given their answer for this sue that has been filed for them. So, as it says, there's the quote in the article that says:

Crypto casino Stake.com labels Freeman’s claims “inconsistent” and “misleading”

The founders of Stake.com were adamant about how Freeman’s claims were false. The firm even suggested that the lawsuit was desperate to spread incorrect information. The statement further read,

“The complaint filed by Chris Freeman contains allegations that are internally inconsistent, intentionally misleading, and provably false.”

The firm affirmed that it would stand its ground and not give in to Freeman’s demands. The founders of the Bitcoin casino were quite confident about the court dismissing Freeman’s claims shortly.

I believe long time users of Stake.com can also attest that this accusation is a lie, and that Freeman’s demands are clearly for own intentional desires. However, this may somehow affect the reputation of Stake.com as some gamblers will start to develop fear on the said casino. But for those who have built their trust on Stake.com, this kind of news won’t never create a big deal and won’t stop them from playing in Stake.com.

[tygeade]

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

I am not sure if withdrawing would be needed, but it certainly wouldn't hurt neither, that is the key point. Will something happen and would your funds be hurt if this goes to trial? I do not think so, I think all the funds are safe and nothing will happen, but can I guarantee it? Of course not, which means that even if you may not have any problems with your funds being in stake, you certainly wouldn't have it on Binance or like a ledger wallet neither, that is a 100% guaranteed option at least unless you are hacked or whatever which is personal stuff not general.

Trusting a place doesn't mean other options aren't as safe as staying put, withdrawing is AT LEAST as safe, if not more, as keeping it on stake.

[cryptomaniac_xxx]

Even if he don’t win the lawsuit these news will be devastating for the casino’s public image. Now lots if people will panic and withdraw funds because of that. It may even send the casino to bankruptcy. Stake/Primedice is (or was) one of the biggest casinos in this space and not many people had any serious problems with them. They (probably) still have a good reputation but these news might change everything.

I don't think that this could be a significant news for Primedice/Stake, they are the prime movers of crypto casinos and with that it's hard to see them losing that position because they are fighting against one another in the court. For sure there will be competitions already that will try to take a piece of the pie, but it will not be easy as this 2 are still on the top of this very niche. Unless there have been issues like not paying their whales, but in this case? as othes mentioned it's just about the money and not their reputation is on the line.

[acroman08]

You can read more about Stake.com here: http://sportstatist.com/stake-review/

what's the point of posting this here? what does reading your review of stake.com has to do with the topic? at this point, you are just ad-spamming your website in this thread. perhaps next time read what the topic is about and learn to know when and where is the right time to advertise your website.