Ed Craven Expands Stake and Kick Amid Challenges

Ed Craven is moving his gambling empire into new territory. While Stake.com was once a cryptocurrency-only betting platform, the company now processes 70% of transactions in traditional currency. At the same time, Craven’s live-streaming service, Kick, is positioning itself as a direct competitor to industry giants like Twitch and YouTube.

Stake, headquartered in Curaçao, is transitioning from an unregulated model to acquiring official gambling licences worldwide. The company is looking at expanding into Australia, with paperwork for a bookmaker licence potentially being lodged this year. Meanwhile, Easygo, the Australian arm behind Stake, continues to grow its influence in gaming development.

Kick, which launched in 2022, currently holds about 14% of the livestreaming market, compared to Twitch’s dominant 86%. While still not profitable, the platform attracts 500,000 to 700,000 daily viewers and has built a strong presence in Spanish- and Arabic-speaking markets. Craven believes Kick can eventually surpass Twitch, leveraging a more creator-friendly revenue model.

Stake’s global expansion is helping it maintain its momentum. The company now holds licences in Brazil, Italy, Peru and Colombia, with pending approvals in Denmark and Canada. Additionally, Easygo’s financial success is substantial, with projected 2024 revenue exceeding $500 million and net profit around $260 million.

Despite controversy surrounding Stake’s origins and its association with cryptocurrency gambling, the company is adapting to new regulatory landscapes. Craven believes that entering traditional markets will sustain growth while maintaining Stake's strong position in crypto gaming.

Source: The Australian, CasinoGuru, FinCrimeCentral