So I discovered something very disturbing about the crypto betting world that I need to share. Have you heard of Stake? It’s like the biggest cryptocurrency casino on the planet, and what’s happening there is simply insane.

It all started when I began watching some live streams of famous streamers on Kick. Drake — yes, the rapper — was there losing and winning absurd amounts in Bitcoin while tens of thousands watched. But something didn’t add up. In a few hours, this guy turned $420,000 back into $2.2 million. And it wasn’t just luck. A deep analysis of 500 hours of streams showed that his big prize rate was literally four times above average.

The guy behind all this is Ed Craven, founder of Stake and Kick. While Drake was spinning the wheels, Craven appeared in the chat practically running the show, suggesting games, topping up wallets, celebrating wins. Adin Ross, another huge streamer, had a similar experience during a three-day marathon. He won over $50,000 in a single round — something that statistically would happen once in every 170,000 times. Craven was there in the chat the whole time, practically orchestrating the business.

Now, it’s important to understand: Stake isn’t just crypto. It offers slots, roulette, live dealer poker, sports betting. But the model is 100% based on cryptocurrencies. It’s virtually unregulated anywhere — registered in Curaçao, blocked in the US, UK, France. Still, it processes about $10 billion in bets per month. It’s practically 4% of all Bitcoin transaction volume. Insane.

But here’s where it gets really dark: I heard stories of victims. Chris, a Swedish teenager, created a Stake account at 15 without any identity verification. None. At 17, during the pandemic, he was betting $10,000 to $40,000 in Bitcoin per week on digital slots. Craven became his personal VIP manager, chatting with him on Telegram almost every day. When Chris tried to self-exclude, Craven offered more rewards, increased betting limits. Over seven years, Chris lost about $1.5 million.

And Chris isn’t an isolated case. The company literally hired thousands of editors to spread videos of influencers celebrating astronomical wins. They get paid $500 to $800 per million views. Streamers post registration links and promo codes, rarely revealing they’re being paid to promote. Some earn millions per month in cryptocurrencies.

What shocked me most was discovering that some streamers were using platform funds to bet, not real money. It’s basically motivational propaganda in disguise. Trainwreckstv publicly admitted this, saying he uses the deposit protocol where Stake provides the balance. Even if he wins, he can’t withdraw everything.

And Craven continues living in a $56 million mansion in Melbourne with a collection of Land Rovers. Stake reported revenue of $47 billion in 2024. Fines? In 2025, Curaçao fined 12 operators, including Stake, $12,500 each. That’s less than two minutes of betting revenue.

There are lawsuits in several US states now, accusing Stake, Drake, and Ross of operating an illegal casino and deceiving players with manipulated odds. But meanwhile, new streamers keep signing contracts worth millions, new teenagers keep creating accounts, and the carousel keeps spinning.

What bothers me most is that no one really knows what’s happening behind the scenes. Stake denies any manipulation, but the data speaks louder. And meanwhile, people are losing fortunes, minors are getting addicted, suicides are being mentioned in social media inboxes of the company. All while the founder poses in luxury photos.

It’s one of the biggest gambling schemes I’ve ever seen in the crypto space. And most people have no idea what’s really going on.