Stake.com: Important Update: Regulatory Action in India & ISP Ban

[kingbj21]

Fellow BitcoinTalk Members,

I am posting this as a warning to Indian users regarding the fraudulent practices of Stake.com and its affiliates. Recently, it has come to light that Stake, along with certain affiliates like Krishmasri Srikanth (affiliate username: bleed blue), have been misleading Indian users into making UPI deposits, which is illegal in India for online gambling transactions.

Key Points to Be Aware Of:
Illegal UPI Deposits: Stake.com, despite knowing the legal restrictions on online gambling in India, continues to guide users into depositing funds through UPI. This practice violates Indian financial regulations, putting users at risk of legal trouble and potential ISP bans.

Affiliate Rake-In: Affiliate marketers like Krishmasri Srikanth (bleed blue) are raking in millions by encouraging Indian users to use UPI for deposits, knowingly putting them in jeopardy. These affiliates mislead users with false assurances of security and legality while exploiting a loophole for personal gain.

Censorship on Stake Forum: I attempted to expose this on the Stake.com forums, but my post was deleted without explanation. It seems Stake is actively suppressing any attempt to bring these unethical and illegal practices to light.

Consequences for Users: Indian users who follow these illegal deposit instructions risk legal repercussions, such as frozen bank accounts, blacklisting by banks, and severe penalties for using unauthorized payment channels. This is not just about losing deposits; it's about facing long-term consequences.

My Experience:
After following the UPI deposit method, my bank account was frozen due to the illegal nature of the transactions. I am now facing financial hardships because of the irresponsible practices of Stake.com and its affiliates.

If you are an Indian user, I strongly advise you to avoid using UPI or any other similar deposit methods on Stake. The potential legal trouble is not worth the risk.

Final Thoughts:
Stake.com and its affiliates are exploiting Indian users with illegal practices that can lead to serious consequences. Be cautious, and do not fall for the tactics used by individuals like bleed blue to lure you into depositing funds through prohibited methods.

I hope this post reaches the right audience, and that Indian users take action before facing the repercussions I am currently dealing with.

Stay informed and be cautious.

https://talkimg.com/images/2024/10/10/ixRWT.png
https://talkimg.com/images/2024/10/10/ixtCl.png
https://talkimg.com/images/2024/10/10/ixF8m.png
https://talkimg.com/images/2024/10/10/ixzY1.png
https://talkimg.com/images/2024/10/10/ixEwW.jpeg

[Maslate]

So here are the list of countries that are restricted in playing with stake.com

https://stake.com/policies/terms

JURISDICTIONS

14.3 Persons located in or reside in Afghanistan, Austria, Australia, Belarus, Belgium, Colombia, Côte d'Ivoire, Cuba, Curaçao, Czech Republic, Democratic Republic of the Congo, Denmark, France, Germany, Greece, Iran, Iraq, Israel, Italy, Liberia, Libya, Lithuania, Malta, Netherlands, North Korea, Ontario, Portugal, Serbia, Slovakia, South Sudan, Spain, Sudan, Syria, Sweden, Switzerland, United Kingdom, United States, Zimbabwe (the "Prohibited Jurisdictions") are not permitted make use of the Service. For the avoidance of doubt, the foregoing restrictions on engaging in real-money play from Prohibited Jurisdictions applies equally to residents and citizens of other nations while located in a Prohibited Jurisdiction. Any attempt to circumvent the restrictions on play by any persons located in a Prohibited Jurisdiction or Restricted Jurisdiction, is a breach of this Agreement. An attempt at circumvention includes, but is not limited to, manipulating the information used by Stake to identify your location and providing Stake with false or misleading information regarding your location or place of residence.

India isn't on the list of countries restricted from accessing Stake.com, so anyone from India can deposit money and gamble on the platform. Now, calling Stake and its affiliates a scam seems baseless because your country's (India) laws only apply to operations within its borders.

In this case, Stake isn’t liable to your state, but your citizens might be, as they are aware online gambling is illegal yet still choose to access Stake. Instead of blaming a casino, people should take responsibility for understanding the laws in their own country.

I am posting this as a warning to Indian users regarding the fraudulent practices of Stake.com and its affiliates

Make that as a warning not to be ignorant of the law instead.

[Charles-Tim]

India isn't on the list of countries restricted from accessing Stake.com

He is not referring to IP address ban or Stake restricting Indian users to access their site. He is referring to the use of UPI Deposits. But what I am curious about is that Stake only is having crypto for deposit and withdrawal but the coins can be estimated in fiat but no deposit in fiat.

[kingbj21]

So here are the list of countries that are restricted in playing with stake.com

https://stake.com/policies/terms

JURISDICTIONS

14.3 Persons located in or reside in Afghanistan, Austria, Australia, Belarus, Belgium, Colombia, Côte d'Ivoire, Cuba, Curaçao, Czech Republic, Democratic Republic of the Congo, Denmark, France, Germany, Greece, Iran, Iraq, Israel, Italy, Liberia, Libya, Lithuania, Malta, Netherlands, North Korea, Ontario, Portugal, Serbia, Slovakia, South Sudan, Spain, Sudan, Syria, Sweden, Switzerland, United Kingdom, United States, Zimbabwe (the "Prohibited Jurisdictions") are not permitted make use of the Service. For the avoidance of doubt, the foregoing restrictions on engaging in real-money play from Prohibited Jurisdictions applies equally to residents and citizens of other nations while located in a Prohibited Jurisdiction. Any attempt to circumvent the restrictions on play by any persons located in a Prohibited Jurisdiction or Restricted Jurisdiction, is a breach of this Agreement. An attempt at circumvention includes, but is not limited to, manipulating the information used by Stake to identify your location and providing Stake with false or misleading information regarding your location or place of residence.

India isn't on the list of countries restricted from accessing Stake.com, so anyone from India can deposit money and gamble on the platform. Now, calling Stake and its affiliates a scam seems baseless because your country's (India) laws only apply to operations within its borders.

In this case, Stake isn’t liable to your state, but your citizens might be, as they are aware online gambling is illegal yet still choose to access Stake. Instead of blaming a casino, people should take responsibility for understanding the laws in their own country.

I am posting this as a warning to Indian users regarding the fraudulent practices of Stake.com and its affiliates

Make that as a warning not to be ignorant of the law instead.

While India may not be explicitly listed in Stake.com's restricted jurisdictions, it does not exempt Stake from adhering to Indian laws. The Indian government is actively working with ISPs to ban Stake.com due to its involvement with illicit third-party vendors. These vendors accept UPI payments on behalf of Stake and funnel the funds through international channels to Australia through Gibraltar, where Eddie resides. This practice violates Indian financial regulations.

Moreover, Eddie already has an arrest warrant in India for his role in violating these norms. The use of UPI for gambling purposes in India is illegal, and Stake's circumvention of local laws makes it a serious issue. It's not just about the users; Stake is using illegal methods to enable deposits in regions where their operations should not be permitted.

The problem here is not ignorance of the law but the fact that Stake and its affiliates are knowingly guiding Indian users into illegal transactions to bypass local regulations, which ultimately puts the users at risk of legal trouble.

Let this be a warning to Indian users to stay away from Stake.com and its affiliates, as the consequences go beyond just financial losses. You could face legal repercussions for participating in these illegal activities.

[Maslate]

India isn't on the list of countries restricted from accessing Stake.com

He is not referring to IP address ban or Stake restricting Indian users to access their site. He is referring to the use of UPI Deposits. But what I am curious about is that Stake only is having crypto for deposit and withdrawal but the coins can be estimated in fiat but no deposit in fiat.

Yes, I get his point, but shouldn't we be aware that if gambling is illegal in our country and we still choose to gamble, we have to be ready to face the consequences?

As for UPI deposits, as far as I know, Stake only accepts crypto, but there are YouTube tutorials showing how to deposit via UPI.

Still, you can’t hold Stake accountable for this since they’re not bound by Indian law.

Let me share a similar personal experience, but with an exchange. Binance has been declared illegal and banned in our country, but many of us still access it because we can trade with good volumes. We’re fully aware of the risks, knowing our government could hold us accountable. However, making Binance accountable to our government is a completely different issue.

[kingbj21]

India isn't on the list of countries restricted from accessing Stake.com

He is not referring to IP address ban or Stake restricting Indian users to access their site. He is referring to the use of UPI Deposits. But what I am curious about is that Stake only is having crypto for deposit and withdrawal but the coins can be estimated in fiat but no deposit in fiat.

Stake does have UPI deposits for INDIAN users.

https://stake.com/blog/how-to-deposit-indian-rupees-inr

https://www.youtube.com/watch?v=5C2TWP2KbU0

Check this video, its unlisted, stake knowingly is commiting a crime with the help of the affiliates.

India isn't on the list of countries restricted from accessing Stake.com

He is not referring to IP address ban or Stake restricting Indian users to access their site. He is referring to the use of UPI Deposits. But what I am curious about is that Stake only is having crypto for deposit and withdrawal but the coins can be estimated in fiat but no deposit in fiat.

Yes, I get his point, but shouldn't we be aware that if gambling is illegal in our country and we still choose to gamble, we have to be ready to face the consequences?

As for UPI deposits, as far as I know, Stake only accepts crypto, but there are YouTube tutorials showing how to deposit via UPI.

Still, you can’t hold Stake accountable for this since they’re not bound by Indian law.

Let me share a similar personal experience, but with an exchange. Binance has been declared illegal and banned in our country, but many of us still access it because we can trade with good volumes. We’re fully aware of the risks, knowing our government could hold us accountable. However, making Binance accountable to our government is a completely different issue.

I completely understand your point about personal responsibility—if gambling is illegal in your country, it's crucial to be aware of the risks. However, the issue with Stake goes deeper than just individuals choosing to gamble.

Stake and its affiliates are not passive players here. They are actively guiding Indian users into illegal deposits through UPI by using third-party vendors. While Stake may officially claim to accept only cryptocurrency, their network of affiliates is creating backdoor channels—like using UPI via these third-party vendors to process deposits illegally. There are numerous YouTube tutorials and promotional campaigns specifically targeted at Indian users, showing them how to bypass legal restrictions.

So yes, users should be cautious and understand the risks, but Stake is far from innocent in this. They are knowingly facilitating these transactions through illicit means. This isn't a case of users finding workarounds on their own—Stake’s affiliates are pushing these illegal methods, which makes Stake accountable.

Your comparison with Binance is interesting, but in this case, it's not just about users knowingly accessing a platform. Stake is deliberately pulling the strings, creating illegal payment channels and taking advantage of users in regions where gambling is prohibited. They’re making millions off these activities while exposing users to potential legal risks.

So, while I agree that individuals should be aware of the consequences, Stake can't be absolved of accountability. They are encouraging and enabling this behavior through underhanded methods.

https://talkimg.com/images/2024/10/10/ixEwW.jpeg

Check their statement, they won't claim any responsibility.

[Maslate]

While India may not be explicitly listed in Stake.com's restricted jurisdictions, it does not exempt Stake from adhering to Indian laws.

So, let’s say for the sake of discussion, Stake is held accountable by your government. But in the first place, shouldn’t you be the one aware that what you’re doing is illegal? By law in your country, online gambling is illegal, whether it’s in fiat or crypto, yet you still chose to gamble. That means you knowingly broke the law, and now your bank freezes your account because of the violation. Are you really going to blame Stake or the affiliate that convinced you to gamble? What are you, minor?

[Charles-Tim]

As for UPI deposits, as far as I know, Stake only accepts crypto, but there are YouTube tutorials showing how to deposit via UPI.

I saw none. Maybe I did not see any YouTube video related to it due to my IP. I also search online and I saw nothing. I also search for how to deposit fiat on Stakes but all I was seeing are how to deposit crypto. Can you post one or two videos that shows how to make such deposit on Stakes.

The reason I asked is to know if it is third party and not directly. Like buying crypto with fiat on an exchange and deposit it on Stakes. The exchange is the third party in this scenario.

[kingbj21]

While India may not be explicitly listed in Stake.com's restricted jurisdictions, it does not exempt Stake from adhering to Indian laws.

So, let’s say for the sake of discussion, Stake is held accountable by your government. But in the first place, shouldn’t you be the one aware that what you’re doing is illegal? By law in your country, online gambling is illegal, whether it’s in fiat or crypto, yet you still chose to gamble. That means you knowingly broke the law, and now your bank freezes your account because of the violation. Are you really going to blame Stake or the affiliate that convinced you to gamble? What are you, minor?

First, let's get the facts straight: online gambling in India is not outright illegal on a national level. The legal framework around online gambling is complex and varies from state to state. Some states have explicitly banned it, while others allow it with little to no regulation. What is illegal, however, is using certain payment methods like UPI for gambling transactions, as well as platforms like Stake operating without proper authorization in India. This is where Stake's actions cross the line.

Now, to your point—yes, individuals should be aware of their actions, and I don’t deny that. However, the core issue here is that Stake and its affiliates are deliberately misleading Indian users, guiding them to make illegal UPI deposits through third-party vendors, all while pretending everything is above board. They're taking advantage of the lack of awareness to funnel millions from Indian users. This isn’t a case of people knowingly breaking the law on their own; it’s Stake and their affiliates manipulating the situation for profit.

And no, I'm not a minor, but your attempt to dismiss my concerns and shift the blame is telling. Your comments seem to reflect more of an agenda to protect Stake than to discuss the real issue here. It’s clear that Stake’s puppets—whether paid affiliates or promoters—are out in full force, trying to deflect responsibility from the platform’s unethical practices.

The bottom line is that Stake is breaking Indian laws by facilitating these transactions, and it’s not just the users who should be held accountable—the platform and its affiliates must be, too.

I’m not here to shift personal responsibility, but to expose Stake’s deliberate actions that are causing real harm to users by pushing illegal transactions through the UPI system, all while they rake in millions.

[Maslate]

As for UPI deposits, as far as I know, Stake only accepts crypto, but there are YouTube tutorials showing how to deposit via UPI.

I saw none. Maybe I did not see any YouTube video related to it due to my IP. I also search online and I saw nothing. I also search for how to deposit fiat on Stakes but all I was seeing are how to deposit crypto. Can you post one or two videos that shows how to make such deposit on Stakes.

HOW TO DEPOSIT IN INR STAKES?

The reason I asked is to know if it is third party and not directly. Like buying crypto with fiat on an exchange and deposit it on Stakes. The exchange is the third party in this scenario.

In the video, it clearly showed INR as an option for Stake, but when I checked my account, I couldn’t find that currency or any fiat option. So, it’s likely that what you see depends on the IP address being used to access the casino.

[kingbj21]

As for UPI deposits, as far as I know, Stake only accepts crypto, but there are YouTube tutorials showing how to deposit via UPI.

I saw none. Maybe I did not see any YouTube video related to it due to my IP. I also search online and I saw nothing. I also search for how to deposit fiat on Stakes but all I was seeing are how to deposit crypto. Can you post one or two videos that shows how to make such deposit on Stakes.

The reason I asked is to know if it is third party and not directly. Like buying crypto with fiat on an exchange and deposit it on Stakes. The exchange is the third party in this scenario.

https://stake.com/blog/how-to-deposit-indian-rupees-inr

https://www.youtube.com/watch?v=5C2TWP2KbU0

[Charles-Tim]

In the video, it clearly showed INR as an option for Stake, but when I checked my account, I couldn’t find that currency or any fiat option. So, it’s likely that what you see depends on the IP address being used to access the casino.

It is also not on my Stake account. No fiat option among. All are cryptocurrencies.

@kingbj21, if you think Stake is doing anything wrong, it is better you contact their customer care instead of bringing this to this forum. If you are not satisfied with their reply, then you can go with a legal suit against them. But I do not think Stake will just do something wrong against Indian regulations.

[kingbj21]

In the video, it clearly showed INR as an option for Stake, but when I checked my account, I couldn’t find that currency or any fiat option. So, it’s likely that what you see depends on the IP address being used to access the casino.

It is also not on my Stake account. No fiat option among. All are cryptocurrencies.

@kingbj21, if you think Stake is doing anything wrong, it is better you contact their customer care instead of bringing this to this forum. If you are not satisfied with their reply, then you can go with a legal suit against them. But I do not think Stake will just do something wrong against Indian regulations.

I have contacted Stake’s support numerous times without any meaningful response, and they have even censored my posts. I’m raising this issue here to warn others about these illegal practices because Stake isn’t operating above board when it comes to Indian regulations.

And yes, legal action is something I’m seriously considering, but the more people are aware of this issue, the better. Just because something isn’t immediately visible on the platform doesn’t mean it’s not happening. The illegal UPI deposits facilitated by affiliates are real, and people need to be aware of the risks they’re taking by using these methods.

[kingbj21]

https://stakecommunity.com/topic/108925-warning-to-indian-users-upi-deposits-%E2%80%93-legal-trouble-isp-ban/?do=findComment&comment=2270729

[holydarkness]

The OP has a long standing bad blood with Stake. He previously raised this complaint and "awareness" of deposit issue on his other thread, but it didn't work on his favor as people questions his decision to use fiat instead of crypto [for a crypto-casino], and pointed out that the issue should be with the bank and/or the payment processor, not stake, as the one being investigated [IIRC, from previous thread] was the payment processor.

[kingbj21]

The OP has a long standing bad blood with Stake. He previously raised this complaint and "awareness" of deposit issue on his other thread, but it didn't work on his favor as people questions his decision to use fiat instead of crypto [for a crypto-casino], and pointed out that the issue should be with the bank and/or the payment processor, not stake, as the one being investigated [IIRC, from previous thread] was the payment processor.

It’s funny how you’re quick to defend Stake while ignoring the real issues at play. My "bad blood" with Stake stems from their unethical practices and failure to take responsibility, not from any personal grudge. The issue I raised about UPI deposits is valid, and while people tried to deflect the blame to banks and payment processors, the truth is that Stake continues to promote illegal deposit methods without informing users of the risks. The payment processors involved have already been investigated, but Stake is still evading any real accountability.

And let’s be clear—I’m not here to "raise awareness" for some hidden agenda. I’m here to expose what’s really going on, and it’s becoming obvious that you, along with a few others, are being compensated by Stake to defend them on forums. It’s a classic tactic to deflect and discredit those who speak out, but it won’t work here.

Stake needs to stop hiding behind their influencers and defenders and actually address the serious issues being raised.

[holydarkness]

The OP has a long standing bad blood with Stake. He previously raised this complaint and "awareness" of deposit issue on his other thread, but it didn't work on his favor as people questions his decision to use fiat instead of crypto [for a crypto-casino], and pointed out that the issue should be with the bank and/or the payment processor, not stake, as the one being investigated [IIRC, from previous thread] was the payment processor.

It’s funny how you’re quick to defend Stake while ignoring the real issues at play. My "bad blood" with Stake stems from their unethical practices and failure to take responsibility, not from any personal grudge. The issue I raised about UPI deposits is valid, and while people tried to deflect the blame to banks and payment processors, the truth is that Stake continues to promote illegal deposit methods without informing users of the risks. The payment processors involved have already been investigated, but Stake is still evading any real accountability.

And let’s be clear—I’m not here to "raise awareness" for some hidden agenda. I’m here to expose what’s really going on, and it’s becoming obvious that you, along with a few others, are being compensated by Stake to defend them on forums. It’s a classic tactic to deflect and discredit those who speak out, but it won’t work here.

Stake needs to stop hiding behind their influencers and defenders and actually address the serious issues being raised.

The bad blood between you and stake [and perhaps even other casinos] is a thing that came to a lot of other overseers' awareness. But oh, thank you for making me re-read that whole thread. I vaguely remember that I said I am removing myself from one member's case, but with the numbers of cases I handled, it's very easy to get mixed up and forgot who deserves better attention and who better left alone.

Pardon me for "backing out" from my own words, and allow me to ensure it will not be repeated in the future by putting you on ignore.

As for your accusation that I receive compensation from stake to defend them, I highly welcome you to prove it. Even... encourage you. Lest people take that bold statement you made as a reflection of the nature of your credibility, that every sentence coming from your mouth should be taken with grains of salt.

Compile hard evidences that I receive anything at all from Stake to defend them, present them on reputation board. I scanned through that board quite often. So, though I put you on ignore, the second I saw a thread is made by you on that thread, I'll come visit.

Deal?

[kingbj21]

The bad blood between you and stake [and perhaps even other casinos] is a thing that came to a lot of other overseers' awareness. But oh, thank you for making me re-read that whole thread. I vaguely remember that I said I am removing myself from one member's case, but with the numbers of cases I handled, it's very easy to get mixed up and forgot who deserves better attention and who better left alone.

Pardon me for "backing out" from my own words, and allow me to ensure it will not be repeated in the future by putting you on ignore.

As for your accusation that I receive compensation from stake to defend them, I highly welcome you to prove it. Even... encourage you. Lest people take that bold statement you made as a reflection of the nature of your credibility, that every sentence coming from your mouth should be taken with grains of salt.

Compile hard evidences that I receive anything at all from Stake to defend them, present them on reputation board. I scanned through that board quite often. So, though I put you on ignore, the second I saw a thread is made by you on that thread, I'll come visit.

Deal?

Thank you for re-engaging with this thread. It seems that we’ve reached a point where this discussion is no longer about my "bad blood" with Stake or other casinos, but rather about whether or not you and others want to address the real problems at hand.

1. Defending Stake and Duelbits: While it’s easy to frame this as just a personal grudge I have with Stake, that’s far from the truth. I’m equally vocal about other platforms like Duelbits and Kick. The core issue here is the unethical promotion of gambling practices to users who may not fully understand the risks, including the illegal deposit methods being encouraged. These platforms are making substantial profits at the expense of vulnerable users, including children, which is something I can't just stay quiet about.

2. Children Are at Risk: I’m not just concerned about adult users but also about children who are being indirectly targeted through loud, flashy promotions on platforms like Twitch and Kick. The glorification of gambling by influencers, who are often compensated by these casinos, has a direct impact on younger audiences. These influencers, knowingly or unknowingly, promote behavior that can lead minors down a dangerous path. My goal is to bring awareness to this and ultimately push for better standards of responsibility from platforms like Stake, Duelbits, and others.

3. Your Position: As for your defense of Stake, I understand that you may have a different perspective. However, it’s hard to ignore the repeated deflection from the core issues – promoting illegal deposit methods, failing to protect users, and avoiding accountability. Whether you are compensated by Stake directly, by third-party providers, or not at all is not the crux of my concern. The point is, defending these practices without addressing their very real consequences is irresponsible, especially when these consequences affect users' lives so profoundly.

4. Standing Up for Accountability: I will continue to compile and present evidence where possible. My aim is simple: to expose unethical practices, demand accountability, and ultimately make these platforms safer. I fully agree with the views expressed on Stakeexposed.com and want to clarify that I do not own any part of that website. Ignoring these problems or dismissing them as personal grudges does nothing to solve the harm being done, particularly to children and other vulnerable individuals.

Let’s focus on what really matters here: protecting people from harm, not covering up for the interests of casinos and their affiliates. If you’re genuinely interested in safeguarding the community, I encourage you to look beyond personal biases and join me in holding these entities accountable.

[AHOYBRAUSE]

Stake continues to operate in a gray area in India by allowing INR deposits, which poses significant legal risks for users. Recent reports suggest that two Indian players were arrested for depositing large sums of money on Stake.com, raising serious concerns under anti-money laundering regulations.

Funds are allegedly being transferred to Australia without paying GST, directly linked to operations that involve Eddie and his associates through Gibraltar. This not only jeopardizes the financial safety of users but also puts them at risk of severe legal consequences.

I urge Stake to reassess its practices immediately. Allowing such operations to continue not only tarnishes the company's reputation but also exposes your users to potential arrests and legal repercussions. If these issues are not addressed promptly, I will have no choice but to escalate this matter to the appropriate authorities.

Take this warning seriously and act responsibly before it’s too late.

I want to chime in on that. You say it's a grey area but online betting is legal in India according to google. Stake is mainly a crypto gambling site but of course also offers INR deposits. I don't understand why Indian players are not just gambling in crypto when there might be an issue with the use of fiat, it makes no sense. It might be harder to buy crypto in India since it's also somehow a grey area but it's still a better option than fiat.
Players are depositing on their own risk knowing there might be an issue ( when there are so many reports about it), you can't blame stake for that. They obviously checked all the legal stuff before offering these options, otherwise they wouldn't do it.

I seriously don't understand what you want to achieve with words like: "I will have no choice but to escalate this matter to the appropriate authorities." Is it blackmail? Or you have a different agenda? If you want to do it then just do it because nothing will come from it anyway.

[kingbj21]

Stake continues to operate in a gray area in India by allowing INR deposits, which poses significant legal risks for users. Recent reports suggest that two Indian players were arrested for depositing large sums of money on Stake.com, raising serious concerns under anti-money laundering regulations.

Funds are allegedly being transferred to Australia without paying GST, directly linked to operations that involve Eddie and his associates through Gibraltar. This not only jeopardizes the financial safety of users but also puts them at risk of severe legal consequences.

I urge Stake to reassess its practices immediately. Allowing such operations to continue not only tarnishes the company's reputation but also exposes your users to potential arrests and legal repercussions. If these issues are not addressed promptly, I will have no choice but to escalate this matter to the appropriate authorities.

Take this warning seriously and act responsibly before it’s too late.

I want to chime in on that. You say it's a grey area but online betting is legal in India according to google. Stake is mainly a crypto gambling site but of course also offers INR deposits. I don't understand why Indian players are not just gambling in crypto when there might be an issue with the use of fiat, it makes no sense. It might be harder to buy crypto in India since it's also somehow a grey area but it's still a better option than fiat.
Players are depositing on their own risk knowing there might be an issue ( when there are so many reports about it), you can't blame stake for that. They obviously checked all the legal stuff before offering these options, otherwise they wouldn't do it.

I seriously don't understand what you want to achieve with words like: "I will have no choice but to escalate this matter to the appropriate authorities." Is it blackmail? Or you have a different agenda? If you want to do it then just do it because nothing will come from it anyway.

https://i.postimg.cc/SJPTvjtR/Screenshot-2024-11-05-065822.png

https://i.postimg.cc/Z0KwY6G0/Screenshot-2024-08-25-224400.png

https://i.postimg.cc/kD1f2BCs/Screenshot-2024-08-31-212724.png


It seems you may not fully understand the gravity of the situation, so let me clarify.

Yes, online betting may be considered a "grey area" in India, but what Stake is doing goes beyond simple legal ambiguity. Stake offers INR deposits, but they do so through unauthorized third-party vendors who are not registered for GST and do not comply with income tax laws. This isn’t just about individual players "taking a risk"—it’s about Stake systematically evading Indian tax laws and laundering money to Australia via Gibraltar, a known offshore jurisdiction for such operations.

One of their third-party vendors, Priyank Enterprises, was arrested for illegal financial activities involving huge amounts of money. Eddie himself has an FIR lodged against him in India. If their operations were truly above board, why the use of shady intermediaries and mirror sites? Why did they face an ISP ban in India?

Regarding your point about cryptocurrency: while Stake offers crypto deposits, it’s not as simple for many users in India. Crypto transactions are strictly scrutinized in India, and many players are unfamiliar or uncomfortable navigating crypto regulations, which Stake takes advantage of by encouraging easy fiat deposits, even if those deposits are illegal.

To be absolutely clear: this is not about blackmail—it's about accountability. I have already reported Stake's operations to the Cyber Crime division in India and the FBI in the US, because of their money laundering practices and tax evasion activities. If they think they can operate without consequences, they are mistaken.

I also want to highlight the unethical role of Indian cricket icon Krishnamachari Srikkanth. Under his affiliate ID "https://stake.com/?c=bleedblue" & "https://stake.com/?c=Cheeka" he has promoted IPL betting with Stake, raking in millions while promoting illegal gambling activities to Indian users. This behavior makes him a poor role model for the sport and the country. He should be held accountable for encouraging players to deposit via illegal methods and for profiting off the vulnerabilities of his fans.

Stake’s actions put Indian players at risk of serious legal trouble while benefiting from these illegal practices. My intention is simple: bring attention to Stake’s unethical activities, ensure affected players get justice, and expose anyone complicit in promoting illegal and harmful practices—including celebrities who should know better.