Cryptocurrency sports betting site Stake.com has been singled out as the only “modern disruptor” to have surpassed $1bn in revenue in 2022, according to estimated figures from gambling consultancy Regular Partners.
Stake features ahead of DraftKings, 888, Super Group, Kindred, Tipico and Bally.
But it was behind gambling giants such Flutter, Entain and BetMGM, 1xBet, the Japanese Racing Association, Bet365 and the Hong Kong Jockey Club.
Regulus highlighted several Stake.com’s strengths, including its smart use of esports and marketing that targets video gaming, as well a strong integration of crypto payment methods and leadership in the sector.
Regulus said Stake.com has advantages across several criteria that set it apart from the competition. In fact, Stake.com is said to be performing well against some of its better-established competitors on the Billion Dollar Club list.
However, the analysis cautioned that Stake.com is taking a fairly aggressive approach to its operations globally and may be more willing to push the boundaries of what are considered “dark grey markets” and what good know-your-customer and anti-money laundering practices look like.
Stake.com operates in “grey markets” such as Canada, which is presently the company’s biggest, but it’s actively engaged in ensuring that it enters the country through the front door as well. Presently, Stake.com is hoping to secure a license in Ontario.
However, the website’s ambition to enter some of the biggest regulated markets could put difficult choices ahead of the company, the report cautioned. As its success in those markets will also elevate its regulatory profile and what is expected from the company as a licensed entity.
Looking for your next crypto casino? Check out: Bitcasino, Gamb.co or FortuneJack.