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Founded in 2017, Stake is one of the largest crypto gambling platforms – there have been a total of 135 billion total bets made since inception, 65 billion within the last 12 months
In terms of funding, Stake team shared that the company did not receive any funding or debt from external investors – the company has been profitable, growing significantly YoY every year since its inception
Stake also has country-specific websites run by its partners in the UK (fiat-only) and the U.S. (sweepstake model); the UK website seems to be struggling to grow its web traffic, but the U.S. website has been gaining steady traction in the past 6 months
Stake’s growth strategy includes (1) lowering its margin to offer higher RTP (return to player) than its competitors, (2) granting top tier rewards, (3) sports sponsorships and (4) direct audience engagement via live streaming
In December 2022, Stake was responsible for over 5% of global Bitcoin transactions, over 12% of all Dogecoin transactions and over 15% of all Litecoin transactions – Stake was also responsible for ~5 million BTC transactions in 2022
Footnotes
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