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 <p class="is-style-lead">Stake’s expansion plans are marred by a <a rel="noopener noreferrer nofollow" title="legal" href="https://thebittimes.com/tag/legal.html">legal</a> showdown. </p> 
 <p class="is-style-default">An Australian share trading platform of the same name is threatening to take the <a rel="noopener noreferrer nofollow" title="startup" href="https://thebittimes.com/tag/startup.html">startup</a>, founded by billionaire Ed Craven and <a rel="noopener noreferrer nofollow" title="backed" href="https://thebittimes.com/tag/backed.html">backed</a> by hip-hop star Drake, to court.</p> 
 <h2 class="wp-block-heading" id="sydney-s-stake-vs-drake-s-stake">Sydney’s Stake vs. Drake’s Stake</h2> 
 <p>Stake, the online casino, was originally prohibited from offering its gaming services in Australia unless it obtained a casino license. Once the company pursued a license and registered a number of trademarks, it drew scrutiny from a Sydney-based share trading platform of the same name. </p> 
 <p>The trading platform is now suing the <a rel="noopener noreferrer nofollow" title="gambling" href="https://thebittimes.com/tag/gambling.html">gambling</a> <a rel="noopener noreferrer nofollow" title="startup" href="https://thebittimes.com/tag/startup.html">startup</a> to prevent it from using the brand name.</p> 
 <p>According to the Australian Associated Press, the Stake trading platform filed court documents explaining that it had already established goodwill through the usage of the name across Australia.</p> 
 <p>Stake, the one founded by Craven and his American business partner Bijan Tehrani in 2017, is based in Curacao, a country in the Caribbean. It describes itself as a “leading online crypto casino” where users can wager on sporting events and play online games like slots, blackjack, and roulette using Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies.</p> 
 <p>Craven is reportedly based in Melbourne.</p> 
 <div class="cn-block-related-link"> 
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Drake x Stake: Rapper Promises Live Giveaway to Celebrate Partnership With Crypto Gaming Operator 
 </div> 
 <h2 class="wp-block-heading" id="stake-s-formula-one-sponsorship-and-drake-partnership">Stake’s Formula One sponsorship and Drake partnership</h2> 
 <p>A sponsorship agreement between Stake, the crypto betting firm, and the Alfa Romeo Formula One team was announced earlier this year. As a result, the Melbourne Grand Prix included the company’s emblem on its cars.</p> 
 <p>Last year, Canadian rapper Drake — whose real name is Aubrey “Drake” Graham — joined Craven’s Stake. He uses the Stake website to live-stream with gamers and posts Instagram stories while playing on the platform.</p> 
 <p>Roughly 840 million casino bets were placed on its website in June.</p> 
 <div class="cn-block-related-link"> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Drake loses another $40k worth of BTC on betting 
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Drake-backed gambling startup Stake faces legal hurdles in Australia

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TheBitTimes

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