Illinoise Resident Accuses Stake.US of Unlawful Gambling, Seeking Compensation for Purported Losses
Rewritten Article:
A fresh lawsuit lodged in Illinois aims to recover losses associated with activity on the social casino platform Stake.com. The case, fronted by Brayden Urdan, receives backing from the legal team that bagged a whopping $25 million in a recent case against High 5 Games.
The lawsuit accuses Stake of operating as a clandestine online gambling platform, despite branding itself as a social casino. It opens with the assertion, "Stake.com is one of the most popular and profit-generating casinos globally," before highlighting that "despite its international dominance, Stake.com was barred from entering the U.S. market where online gambling is stringently regulated and outlawed in numerous states, including Illinois."
Stake's Controversial Business Strategy
Stake lets users play games using tokens like Gold Coins and Stake Cash. These digital monies can be bought with assorted payment methods, including cryptocurrencies. Stake argues that, since users don't gamble with actual money, it doesn't fall under the same licensing obligations as conventional online casinos.
Yet, adversaries and legal foes argue that this model circumvents state laws and poses risks for players. Stake's size and popularity have drawn increased scrutiny. According to co-founder Ed Craven, "Stake has reached a juncture now where I'm confident our betting volume is the highest in the world across any casino, land-based or online."
Stake boasts being the "World's Largest Online Casino and Sportsbook," and in February, the site recorded over 23 million visits. The platform, launched in 2017, has become a significant player in the crypto gambling scene.
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Mounting Legal Pressure Across the U.S.
Illinois isn't the only state taking a stand against social casinos. Another lawsuit was filed in California last week by a user seeking compensation for Stake losses. Meanwhile, legislators in various states are reviewing or proposing bills to restrict or ban these platforms.
A bill targeting social casinos is gaining traction in the Illinois Senate. Meanwhile, other states like Idaho, Michigan, and Washington have already enacted laws against these services. Washington's rules led to the first major legal decision against a social casino last year when High 5 Games was held accountable.
On Tuesday, Delaware's Gaming Enforcement Division ordered Australia-based VGW Luckyland to halt operations after discovering it ran illegal online gaming disguised as sweepstakes.
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- Despite branding itself as a social casino, Stake.com's controversial business strategy, which allows users to play games with digital currencies, has led to accusations of operating an unlicensed online gambling platform, potentially bypassing state laws and posing risks for players.
- The popularity of Stake.com, one of the most profitable casinos globally, has made it a target for legal action, with a recent lawsuit in Illinois and another in California seeking compensation for losses sustained on the platform.
- Given the mounting legal pressure against social casinos like Stake, there's an increasing push for states to enact or revise laws to restrict or ban these platforms, with Washington leading the way last year in holding High 5 Games accountable for operating an illegal social casino.
