Crypto Casino Stake.com sued for $400 million

[fullhdpixel]

$400 million is big even for Stake.com, dude. If you want something to scale, look at bitcointalk Stake.com signature campaign. They pay at least a few thousand dollars per week for the participants. If they got like 10% of that $400 million, they would take over all other signature campaigns in bitcointalk, at the Gambling section.
Think about 10,000 participants with each getting paid around $50. 1,000 x $50 x 48 weeks per year = $2.4 million dollars. Just 10% of that $400 million is enough for them to run that kind of signature campaign for years. Advertise took a lot of money and $400 million isn't a small number, you see?

I think he was right. The said amount is not big enough for a giant casino like stake. Maybe you are not really familiar of this casino, that is why you can't agree with him. Other than their regular races and sponsorship to famous personalities and streamers, they are also giving a bonus which amounts are close to 10m every single week. Much more their monthly? Their budget on signature campaigns can be small, maybe because they don't really prioritize this forum.

@Kakmakr I don't think they will approach their ex partner and offer him money because the issue had already came out but they can do this if their ex partner secretly warn them first about this.

[gunhell16]

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 that Mr. Freeman raised a large sum of money that he felt was defrauded by his former partner. But from what I see, it's not, it's like I see envy of Mr. Freeman.

As far as I know, the court dismissed Mr. Freeman claimed, Besides that, I don't see STAKES being affected by those allegation.

Why did I say? because if the stakescom is affected by Mr. Freeman, I hope the participants are also affected by the stakes here in the signature campaign that they pay a large budget, to be honest.

Then it's your choice dude if you want to spend your money on stakes. Because I see that many gamblers continue to play on stakes.com.

[Hypnosis00]

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 that Mr. Freeman raised a large sum of money that he felt was defrauded by his former partner. But from what I see, it's not, it's like I see envy of Mr. Freeman.

As far as I know, the court dismissed Mr. Freeman claimed, Besides that, I don't see STAKES being affected by those allegation.

Why did I say? because if the stakescom is affected by Mr. Freeman, I hope the participants are also affected by the stakes here in the signature campaign that they pay a large budget, to be honest.

Then it's your choice dude if you want to spend your money on stakes. Because I see that many gamblers continue to play on stakes.com.

It's still definitely in the process, stake was only accused but not proven they committed the crime, so the business will continue and their reputation is intact. I think it does not affect them at all as until now, we see how popular they are and how they continue their aggressive marketing.

[wxa7115]

But again, I think this will end up in a friendly negotiation. Freeman might not get his $400m demand but at least he will still receive a good amount rather than nothing at all.

If he is wise (I'm assuming he is), he will have to settle it with his ex-friends and live with it. There is no way that the court will give him to his demand. So it's going to be bitter sweet divorce for them and they can go and continue their war outside with their competition in crypto platform.

It will all depend on what they would present to the court and whether they are enough to convince the court's judge of their claims. Both parties are apparently saying two different things. So it will all boil down to hard evidences that would hold water after strict scrutiny by the opposing lawyers as well as by the judge.

To my mind, this $400m is already ballooned. It is probably a bloated amount, the maximum, so that in case of a negotiation or in case it would be lowered down, it would still be a significant amount.

Such a high number will probably never be reached, this is basically one of the oldest tactics in the book, if you are selling something you ask for way more than what you are willing to accept in order to give yourself some room for negotiation.

So it is likely that if both parties were willing to come to an agreement the amount given to Freeman is going to be many times smaller than what he's asking, and that is supposing there is room for negotiation, something that is going to be very unlikely if the owners of stake really believe they are on the right.

[noorman0]

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

During this time customers didn't really understand whether $400k was enough to bankrupt Stake or just a small number of annual earnings. Even if $400k were to be drained, it would only involve Tehrani and Craven's private pockets if the Freeman name had not been implicated since Stake was founded. This only involves their previous company.

After all, it's your business entirely with your own money. This is not strictly an internal case of disrupting the casino's customer service mechanism, you will still be able to bet and withdraw as usual.

[South Park]

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

During this time customers didn't really understand whether $400k was enough to bankrupt Stake or just a small number of annual earnings. Even if $400k were to be drained, it would only involve Tehrani and Craven's private pockets if the Freeman name had not been implicated since Stake was founded. This only involves their previous company.

After all, it's your business entirely with your own money. This is not strictly an internal case of disrupting the casino's customer service mechanism, you will still be able to bet and withdraw as usual.

The demand is not about 400k dollars but about 400 million dollars, that is what is making people nervous about what it may happen to stake, if the amount that was in the demand was as high as the number that you are giving then I'm sure that many people will probably not care, but when the amount is so high this is making people nervous, because even if stake is probably one of the richest cryptocurrency casino that we have around I doubt they can afford to pay such high amount if they lose.

[Mahanton]

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

During this time customers didn't really understand whether $400k was enough to bankrupt Stake or just a small number of annual earnings. Even if $400k were to be drained, it would only involve Tehrani and Craven's private pockets if the Freeman name had not been implicated since Stake was founded. This only involves their previous company.

After all, it's your business entirely with your own money. This is not strictly an internal case of disrupting the casino's customer service mechanism, you will still be able to bet and withdraw as usual.

The demand is not about 400k dollars but about 400 million dollars, that is what is making people nervous about what it may happen to stake, if the amount that was in the demand was as high as the number that you are giving then I'm sure that many people will probably not care, but when the amount is so high this is making people nervous, because even if stake is probably one of the richest cryptocurrency casino that we have around I doubt they can afford to pay such high amount if they lose.

Considering on how many years Stake had been operating plus the numbers of players or overall wagered and its revenue then you could really say that it wouldnt really be that much of a problem.
Yes, its a big amount but they could really able to pay that and cant be denied that it would really give out huge damage but they would really able to patch it up if they do still able to retain or maintain
up their reputation and able to generate big income on day to day basis.Freeman would really be considering on having those demands if we do tend to look up on the whole story
then you could really say that he has the rights on having the fair share.

[serjent05]

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 that Mr. Freeman raised a large sum of money that he felt was defrauded by his former partner. But from what I see, it's not, it's like I see envy of Mr. Freeman.

As far as I know, the court dismissed Mr. Freeman claimed, Besides that, I don't see STAKES being affected by those allegation.

Why did I say? because if the stakescom is affected by Mr. Freeman, I hope the participants are also affected by the stakes here in the signature campaign that they pay a large budget, to be honest.

Then it's your choice dude if you want to spend your money on stakes. Because I see that many gamblers continue to play on stakes.com.

That was just a false charge.  It is clear that stake.com is clean.  Mr, Freeman is invited to join but due to the requirement, he declined it.  Now that the Stake.com is doing well, he tries his luck by twisting stories and claiming that he was "discouraged" (intentionally giving a situation that is not favorable to him) in joining stake.com.  I think it isn't envy but greed that motivates him to do this kind of action.  But well sorry for Mr. Freeman because he does not have enough evidence to back up his claim.

[mirakal]

$400 million is big even for Stake.com, dude. If you want something to scale, look at bitcointalk Stake.com signature campaign. They pay at least a few thousand dollars per week for the participants. If they got like 10% of that $400 million, they would take over all other signature campaigns in bitcointalk, at the Gambling section.
Think about 10,000 participants with each getting paid around $50. 1,000 x $50 x 48 weeks per year = $2.4 million dollars. Just 10% of that $400 million is enough for them to run that kind of signature campaign for years. Advertise took a lot of money and $400 million isn't a small number, you see?

I think he was right. The said amount is not big enough for a giant casino like stake. Maybe you are not really familiar of this casino, that is why you can't agree with him. Other than their regular races and sponsorship to famous personalities and streamers, they are also giving a bonus which amounts are close to 10m every single week. Much more their monthly? Their budget on signature campaigns can be small, maybe because they don't really prioritize this forum.

Both of you are right, $400 Million can be a small amount to Stake.com and that same amount can also be seen as a big amount but that depends on which angle you are trying to see, and currently Stake.com has a net worth of more or less $1 Billion dollar. So, we can somehow say that in any case, Stake.com won't pay that ridiculous amount as a settlement for the said lawsuit and it is already expected that they will try to make that settlement go to a much lower amount where it can be described as a reasonable amount for the both sides.

[_act_]

The demand is not about 400k dollars but about 400 million dollars, that is what is making people nervous about what it may happen to stake, if the amount that was in the demand was as high as the number that you are giving then I'm sure that many people will probably not care, but when the amount is so high this is making people nervous, because even if stake is probably one of the richest cryptocurrency casino that we have around I doubt they can afford to pay such high amount if they lose.

Stake customers should not be nervous, even if the case become very serious, customer's money is protected. They are not dealing with scammers, but with a legal battle in the court. It is a court case, people do not have to be worried. Be it anyway it ends, Stake customers are still going to increase as the gambling site progresses.

Both of you are right, $400 Million can be a small amount to Stake.com and that same amount can also be seen as a big amount but that depends on which angle you are trying to see, and currently Stake.com has a net worth of more or less $1 Billion dollar. So, we can somehow say that in any case, Stake.com won't pay that ridiculous amount as a settlement for the said lawsuit and it is already expected that they will try to make that settlement go to a much lower amount where it can be described as a reasonable amount for the both sides.

400 million dollars is not a small amount of money, not at all. But has there been anything like the court saying that Stake should pay the amount? No. I am not expecting that as well. Even if Stake is truly at fault, the court can not make it oay such huge amount unless certain things are considered first.

[Saisher]

The demand is not about 400k dollars but about 400 million dollars, that is what is making people nervous about what it may happen to stake, if the amount that was in the demand was as high as the number that you are giving then I'm sure that many people will probably not care, but when the amount is so high this is making people nervous, because even if stake is probably one of the richest cryptocurrency casino that we have around I doubt they can afford to pay such high amount if they lose.

Stake customers should not be nervous, even if the case become very serious, customer's money is protected. They are not dealing with scammers, but with a legal battle in the court. It is a court case, people do not have to be worried. Be it anyway it ends, Stake customers are still going to increase as the gambling site progresses.

Both of you are right, $400 Million can be a small amount to Stake.com and that same amount can also be seen as a big amount but that depends on which angle you are trying to see, and currently Stake.com has a net worth of more or less $1 Billion dollar. So, we can somehow say that in any case, Stake.com won't pay that ridiculous amount as a settlement for the said lawsuit and it is already expected that they will try to make that settlement go to a much lower amount where it can be described as a reasonable amount for the both sides.

400 million dollars is not a small amount of money, not at all. But has there been anything like the court saying that Stake should pay the amount? No. I am not expecting that as well. Even if Stake is truly at fault, the court can not make it oay such huge amount unless certain things are considered first.

Of course, Mr. freeman must prove in court that Stake.com owe him this amount of money and Stake.com will refute that claim, its pieces of evidence against pieces of evidence and both parties will try an out-of-court settlement, it depends on who has the advantages in the presentation of the pieces of evidence, it's better for both parties to have an out of court settlement because its costly for both parties, and to protect the reputation of Stake as well

[Jemzx00]

Both of you are right, $400 Million can be a small amount to Stake.com and that same amount can also be seen as a big amount but that depends on which angle you are trying to see, and currently Stake.com has a net worth of more or less $1 Billion dollar. So, we can somehow say that in any case, Stake.com won't pay that ridiculous amount as a settlement for the said lawsuit and it is already expected that they will try to make that settlement go to a much lower amount where it can be described as a reasonable amount for the both sides.

400 million dollars is not a small amount of money, not at all. But has there been anything like the court saying that Stake should pay the amount? No. I am not expecting that as well. Even if Stake is truly at fault, the court can not make it oay such huge amount unless certain things are considered first.

400 million dollars is never a small amount even with a billion dollar company such as Stake. However, the number of 400 million dollars is what the plaintiff or the former partner of stake demanded and it will never the final amount whether he won his case on the court. A lot of things are needed to be considered during trial for a fair amount to be decided.

Anyways, I don't think the former partner has a high chance on winning his case but still wanted to proceed with it to gain money against Stake.

[doomloop]

400 million dollars is never a small amount even with a billion dollar company such as Stake. However, the number of 400 million dollars is what the plaintiff or the former partner of stake demanded and it will never the final amount whether he won his case on the court. A lot of things are needed to be considered during trial for a fair amount to be decided.

Anyways, I don't think the former partner has a high chance on winning his case but still wanted to proceed with it to gain money against Stake.

If the company's worth is only a billion then yes 400 million can be considered to be large because that amount is almost 1/2 of their entire wealth but if we are talking about hundred billion dollars like close to becoming a trillionaire then 400 million can still be paid without worrying a lot. So, 400 million dollars is only just a minimum amount but the amount can still grow? Dang but what if the guy is defeated by the opposing party?

I think stake wouldn't paid him anything but stake will only pay the lawyers and other people that helped them sort this issue. They can save a lot of money because I think the overall cost will not reach 400 million dollars.

[serjent05]

Anyways, I don't think the former partner has a high chance on winning his case but still wanted to proceed with it to gain money against Stake.

Same here.  Other than the claim of the complainant, there is no written document that will prove that what the complainant saying is true.  Aside from that, it is all like his words against the stake owner's word.  And if the complainant claim that he is the one who set up the strategy and system of stake, he should have proof, like a patented document on any strategy or technology the stake is using but I believe the complainant doesn't have any document like that.

[blue_hurricanger]

Both of you are right, $400 Million can be a small amount to Stake.com and that same amount can also be seen as a big amount but that depends on which angle you are trying to see, and currently Stake.com has a net worth of more or less $1 Billion dollar. So, we can somehow say that in any case, Stake.com won't pay that ridiculous amount as a settlement for the said lawsuit and it is already expected that they will try to make that settlement go to a much lower amount where it can be described as a reasonable amount for the both sides.

400 million dollars is not a small amount of money, not at all. But has there been anything like the court saying that Stake should pay the amount? No. I am not expecting that as well. Even if Stake is truly at fault, the court can not make it oay such huge amount unless certain things are considered first.

400 million dollars is never a small amount even with a billion dollar company such as Stake. However, the number of 400 million dollars is what the plaintiff or the former partner of stake demanded and it will never the final amount whether he won his case on the court. A lot of things are needed to be considered during trial for a fair amount to be decided.

The best example of this is the Johnny Depp lawsuit case with Amber Heard. Depp sued for $50 million in damages and Heard countersued back for $100 million. Eventually, the jury awarded Depp $10 million in compensatory damages and $5 million in punitive damages while Heard got awarded $2 million in compensatory damages, but $0 in punitive damages. Expect the same in this case, Stake.com might even counter back if that claim is unsustained, causing damage to the Stake.com branding,... A typical lawsuit will go back and fore till both sides realize they have to settle down.

Anyways, I don't think the former partner has a high chance on winning his case but still wanted to proceed with it to gain money against Stake.

Same, although the ex-partner doesn't have a high chance of winning, Stake.com might try to settle with the ex-partner by % of that $400 million and an agreement to move on.

[madnessteat]

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

During this time customers didn't really understand whether $400k was enough to bankrupt Stake or just a small number of annual earnings. Even if $400k were to be drained, it would only involve Tehrani and Craven's private pockets if the Freeman name had not been implicated since Stake was founded. This only involves their previous company.

After all, it's your business entirely with your own money. This is not strictly an internal case of disrupting the casino's customer service mechanism, you will still be able to bet and withdraw as usual.

I don't think that if the court were to side with Freeman, that money would be taken out of the casino because that would completely deprive Craven and Tehrani of their camping trip. I think it makes a lot more sense to take that money on credit because Craven and Tehrani own real estate that can be used as collateral. The loan can be paid from the casino's income. But honestly, it seems to me that the court won't grant Freeman's claim, and even if it does, it will significantly reduce the amount of money he is entitled to.

[minime0105]

Its weird to see a former partner, co founder of primedice sue Stake. I think its lack of contract. Yet it feels bad to watch his friends move ahead with a project he designed without proper settlement or information.

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.

Sometimes what causes all these, it's a trust that you have on a friend that will give you full hope not to betrayed you. But one thing we supposed to know is that who ever that is having business with you either it's your brother make sure that you whatever into documents agreement before the business can be executed, because if the business fails to in place of documents you will regret of it when it starts to prosper, so documentation is the key hold as evidence before and after a business

[Jemzx00]

Anyways, I don't think the former partner has a high chance on winning his case but still wanted to proceed with it to gain money against Stake.

Same here.  Other than the claim of the complainant, there is no written document that will prove that what the complainant saying is true.  Aside from that, it is all like his words against the stake owner's word.  And if the complainant claim that he is the one who set up the strategy and system of stake, he should have proof, like a patented document on any strategy or technology the stake is using but I believe the complainant doesn't have any document like that.

To be perfectly fair against the former partner, the court will still be able to hear out his story even without any supporting documents especially since the previous relationship he had with the owners is very close to each other and even being a part of Primedice which is the first gambling website they've started.

But still, the fact remains the same, he has no evidence to support his claims and it looks like it all started when his share from Primedice has been lowered which is logical to support the team and developers of Primedice. If worst comes to worst, I don't think that Stake may be affected rather Primedice as he is not a part of Stake to begin with.

[mirakal]

Both of you are right, $400 Million can be a small amount to Stake.com and that same amount can also be seen as a big amount but that depends on which angle you are trying to see, and currently Stake.com has a net worth of more or less $1 Billion dollar. So, we can somehow say that in any case, Stake.com won't pay that ridiculous amount as a settlement for the said lawsuit and it is already expected that they will try to make that settlement go to a much lower amount where it can be described as a reasonable amount for the both sides.

400 million dollars is not a small amount of money, not at all. But has there been anything like the court saying that Stake should pay the amount? No. I am not expecting that as well. Even if Stake is truly at fault, the court can not make it oay such huge amount unless certain things are considered first.

400 million dollars is never a small amount even with a billion dollar company such as Stake. However, the number of 400 million dollars is what the plaintiff or the former partner of stake demanded and it will never the final amount whether he won his case on the court. A lot of things are needed to be considered during trial for a fair amount to be decided.

Anyways, I don't think the former partner has a high chance on winning his case but still wanted to proceed with it to gain money against Stake.

As said above, $400 Million dollars can be viewed as small and big because that depends on the angle which you are trying to see but I agree with you, $400 Million is indeed a huge amount and that demanded amount by the plaintiff is seriously exaggerated but I understand why he raise and amount that high because he knows that Stake would try to settle an lower amount if the case goes south.

We can't really know for sure because as you guys said, there's a lot of things that is needed to consider and the outcome will be decided by the ruler soon.

[Hispo]

Anyways, I don't think the former partner has a high chance on winning his case but still wanted to proceed with it to gain money against Stake.

Same here.  Other than the claim of the complainant, there is no written document that will prove that what the complainant saying is true.  Aside from that, it is all like his words against the stake owner's word. 

There is still a change the jury or the judge gets convinced a monetary compensation does have place within the lawsuit, 400 million is completely out of proportion in my opinion, if the former partner ends up winning this lawsuit the final amount would end up being smaller.

I dont see major reasons to panic over this lawsuit, Stake likely have very good lawyers and enough money to pay and solve this all mess without going out of business.

If anyone feels uncomfortable with all this, simply keep enough funds on stake to gamble and move the rest of it to your wallet.