Crypto Casino Stake.com sued for $400 million - page 2.

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Quote from: Peanutswar on September 21, 2022, 05:16:27 AM

If this becomes crucialright now it is good to make a withdrawal with your funds because there's a chance that they might lock their platform for the meantime because of this and to make sure it is good to take it now but if you are not in the KYC and for sure if that is a large amount you want to withdraw there's a chance they might request you a KYC so you can withdraw a portion of your funds, I don't know yet if the stake has a limit for the withdrawal per day.

You're right about that, even if the case is not directly connected to the platform and its clients, we should be clever enough to act earlier because we don't know what would happen if the case goes worse as it's really bad for the company's image to face this kind of lawsuit especially if the conflict is in the inside as the plaintiff is also their former partner. Best thing to do for now is withdraw the funds if you cannot afford to lose it, just leave some spare funds for you to enjoy the platform.

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If this becomes crucialright now it is good to make a withdrawal with your funds because there's a chance that they might lock their platform for the meantime because of this and to make sure it is good to take it now but if you are not in the KYC and for sure if that is a large amount you want to withdraw there's a chance they might request you a KYC so you can withdraw a portion of your funds, I don't know yet if the stake has a limit for the withdrawal per day.

ChiNgadOr

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Quote from: Taskford on September 20, 2022, 05:28:20 PM

Quote from: freedomgo on September 20, 2022, 04:17:30 PM

Quote from: dothebeats on September 19, 2022, 04:23:13 PM

Quote from: DoublerHunter on September 17, 2022, 04:23:34 PM

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

There's no way that the court will even think of granting that kind of amount, $400 Million for a settlement? That's absurd! I cannot even imagine that the plaintiff who is a former partner of Stake seriously thinks that the company will just give what he wants. But even before they get to that point, the court will likely dismiss the case because the plaintiff didn't provide serious and solid evidence.

If no solid evidence has been provided then most provably that they dismiss the case but for demanding that huge amount of money from stake maybe freeman have legal basis on his action he do since no crazy people will just declare that crazy amount without holding anything. But let see if freeman tells truth because its up to the court to decide if his claims will be granted or not.

It all depend on how strong the case can be and if no solid evidence then the case will be abolished so gamblers would not have to be bothered about the court case. Due to this case, many gamblers that have no strong knowledge about the whole thing had started withdrawing their funds from the casinos to avoid loses of their money if Incase the court ask Stake to compensate the other partner. This is not a serious case that we need to bother ourselves about and soon we shall here the final result from the court.

_act_

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Quote from: X-ray on September 20, 2022, 08:28:53 PM

Quote from: darkangel11 on September 17, 2022, 04:37:37 PM

Quote from: DoublerHunter on September 17, 2022, 04:23:34 PM

^ It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue.

Sure, they can have a million saved up, probably much more than that, but it's 400 million. If they settle for half of that it's still going to hurt. I don't know how much they have but even rich businesses don't have 400m to spend it's all tied up into expenses, loans, stuff like that. They could get that money but it would mean closing down.
On the other hand it makes you think how much Stake is making in revenue. He had to know if he asked for 400m. If the business was making 10m a year he wouldn't be asking for 400 that's just my thought. They must be able to pay that much if he's asking for it.

I think that you guys are thinking too far about that. Everything is fine right now. 400 millions was only amount that sued by another party who are still in conflict but it doesn't mean stake must have paid that such amount. In my opinion if you must see the case.
In this case it's only the news. The reality will be different. It's total amounts sued by others but that's only nominal.

You are not wrong, a lot of things would be considered before anything would be done. $400 million is demanded for, but not that it was ordered by a judge that such amount or higher should be paid by Stake. That is what we should most consider. I get the point that people are saying that such might not have been demanded if Stake can not pay it, I think it is true too. Also I thought the case has been dismissed, or am I getting it wrong?

X-ray

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Quote from: darkangel11 on September 17, 2022, 04:37:37 PM

Quote from: DoublerHunter on September 17, 2022, 04:23:34 PM

^ It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue.

Sure, they can have a million saved up, probably much more than that, but it's 400 million. If they settle for half of that it's still going to hurt. I don't know how much they have but even rich businesses don't have 400m to spend it's all tied up into expenses, loans, stuff like that. They could get that money but it would mean closing down.
On the other hand it makes you think how much Stake is making in revenue. He had to know if he asked for 400m. If the business was making 10m a year he wouldn't be asking for 400 that's just my thought. They must be able to pay that much if he's asking for it.

I think that you guys are thinking too far about that. Everything is fine right now. 400 millions was only amount that sued by another party who are still in conflict but it doesn't mean stake must have paid that such amount. In my opinion if you must see the case.
In this case it's only the news. The reality will be different. It's total amounts sued by others but that's only nominal.

Taskford

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Quote from: freedomgo on September 20, 2022, 04:17:30 PM

Quote from: dothebeats on September 19, 2022, 04:23:13 PM

Quote from: DoublerHunter on September 17, 2022, 04:23:34 PM

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

There's no way that the court will even think of granting that kind of amount, $400 Million for a settlement? That's absurd! I cannot even imagine that the plaintiff who is a former partner of Stake seriously thinks that the company will just give what he wants. But even before they get to that point, the court will likely dismiss the case because the plaintiff didn't provide serious and solid evidence.

If no solid evidence has been provided then most provably that they dismiss the case but for demanding that huge amount of money from stake maybe freeman have legal basis on his action he do since no crazy people will just declare that crazy amount without holding anything. But let see if freeman tells truth because its up to the court to decide if his claims will be granted or not.

Mahanton

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Quote from: freedomgo on September 20, 2022, 04:17:30 PM

Quote from: dothebeats on September 19, 2022, 04:23:13 PM

Quote from: DoublerHunter on September 17, 2022, 04:23:34 PM

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

There's no way that the court will even think of granting that kind of amount, $400 Million for a settlement? That's absurd! I cannot even imagine that the plaintiff who is a former partner of Stake seriously thinks that the company will just give what he wants. But even before they get to that point, the court will likely dismiss the case because the plaintiff didn't provide serious and solid evidence.

The case is still in progress and we dont know on what are the evidences that Freeman might show off which might result into the success of asking such huge amount.He had just asked out
on what share he should have.We dont know on what are the real numbers in terms of revenues been made but he wont really be making out those huge chunks
if he do sees that the company isnt really making that big revenue.Dismissing directly? I dont think so.

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Quote from: dothebeats on September 19, 2022, 04:23:13 PM

Quote from: DoublerHunter on September 17, 2022, 04:23:34 PM

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

There's no way that the court will even think of granting that kind of amount, $400 Million for a settlement? That's absurd! I cannot even imagine that the plaintiff who is a former partner of Stake seriously thinks that the company will just give what he wants. But even before they get to that point, the court will likely dismiss the case because the plaintiff didn't provide serious and solid evidence.

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Quote from: dothebeats on September 19, 2022, 04:23:13 PM

Quote from: DoublerHunter on September 17, 2022, 04:23:34 PM

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

If there is no other evidence presented to the court and just this baseless claim, there it is logical to think that this case will not propagate and the court will give stake.com a favorable decision. I also don't think that the statement of the complainant is credible, if the person is indeed what he stated in relation to stake.com then he could have filed the complaint during the early years of stake.com when it is not yet earning huge. It is obvious that greed drives the intention of the complainant since he is after the money that is actually not his.

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Quote from: DoublerHunter on September 17, 2022, 04:23:34 PM

It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

The question is, would the jury agree that $400 million is a just settlement for the demands of the plaintiff? Before the money is awarded, of course there'd be a trial, and the court will review all the details and see whether or not the complaint can push through or they will drop it. From the looks of things, Stake has the upper hand on this legal battle however that is not up to me or the articles online to decide. Pretty sure Stake would not back down from this as their statement sounds somewhat confident that they have this case on their hands.

molsewid

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Quote from: darkangel11 on September 17, 2022, 04:37:37 PM

Sure, they can have a million saved up, probably much more than that, but it's 400 million. If they settle for half of that it's still going to hurt. I don't know how much they have but even rich businesses don't have 400m to spend it's all tied up into expenses, loans, stuff like that. They could get that money but it would mean closing down.
On the other hand it makes you think how much Stake is making in revenue. He had to know if he asked for 400m. If the business was making 10m a year he wouldn't be asking for 400 that's just my thought. They must be able to pay that much if he's asking for it.

Yes I think it is kinda now for now to receive a news like that, different sue online that makes us think that a certain casino company will start to collapse but then we will see that it will not happen. But maybe keep your funds, avoid saving too much in Stake and try to move it to other Wallets for now. So we can be sure and our money is at the right place.

Japinat

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Quote from: darkangel11 on September 17, 2022, 04:37:37 PM

Quote from: DoublerHunter on September 17, 2022, 04:23:34 PM

^ It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue.

Sure, they can have a million saved up, probably much more than that, but it's 400 million. If they settle for half of that it's still going to hurt. I don't know how much they have but even rich businesses don't have 400m to spend it's all tied up into expenses, loans, stuff like that. They could get that money but it would mean closing down.
On the other hand it makes you think how much Stake is making in revenue. He had to know if he asked for 400m. If the business was making 10m a year he wouldn't be asking for 400 that's just my thought. They must be able to pay that much if he's asking for it.

The plaintiff of course knew how much does the Stake earns annually because he is a former partner of the Stake, he wouldn't be asking for that kind of humungous amount if the Stake is earning much lower annually. Maybe that $400 Million is not a big amount for the said company but I don't think that they will be willing to give that amount and based on case filed, the Stake might win the case soon.

Anyway, I've looked and search the Stake.com, it says here that the company has an estimated value amounting to $1 Billion.

darkangel11

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Quote from: DoublerHunter on September 17, 2022, 04:23:34 PM

^ It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue.

Sure, they can have a million saved up, probably much more than that, but it's 400 million. If they settle for half of that it's still going to hurt. I don't know how much they have but even rich businesses don't have 400m to spend it's all tied up into expenses, loans, stuff like that. They could get that money but it would mean closing down.
On the other hand it makes you think how much Stake is making in revenue. He had to know if he asked for 400m. If the business was making 10m a year he wouldn't be asking for 400 that's just my thought. They must be able to pay that much if he's asking for it.

DoublerHunter

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Quote from: Lanatsa on September 17, 2022, 02:50:20 PM

Quote from: Taskford on September 16, 2022, 06:03:57 PM

Quote from: Lanatsa on September 16, 2022, 05:40:48 PM

snip

Seeing that legal battle what Stake currently facing on will make people doubt about their current condition since imagine if they lose to that case there's huge amount will be taken on their stash. And its valid concern for people since maybe this could be the reason on why stake will fall.

But let see how the case proceed and for sure many of curious people want to know the further developments happening to this.

400m is indeed a big amount but considering on how long and how profitable stake is in crypto space then i do believe that it wont be a reason for it to be closing down.
Yes,it might result on a big hit but wont be enough on wiping its existence on the market or would be closing down.They might affect big on their overall revenue but
if things comes back to normal then it would really be just easy as pie on recovering those losses that they do have if ever Freeman would really win up
this case and getting that 400m.

^ It could be a big amount but I don't think it will affect the entire operation, Stake has been here for how many years and I think that is long enough for them to save a million dollars for their revenue. If there is no other way to settle the case I think to continue their business they need to pay that amount. However, I did not see any sign that because this Stake will fall, that is still a very small amount for them, they are a big company right and that has a very popular name kin the online gambling industry and I think they need to come up with this problem.

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Quote from: BITCOIN4X on September 12, 2022, 03:26:14 PM

Quote from: Hispo on September 12, 2022, 03:13:32 PM

-snip-

If people are concerned about risk, then they can always move their funds to a secure wallet rather than on a gambling platform. I think it is never safe to have very large funds on any gambling site, it is very risky. But have sufficient funds for your gambling needs and make a deposit when needed again.

$400M is such a huge amount, it will surely cause a lot of panic among stake customers.

I agree, keeping funds out Stake while this settles is the easiest options, for most of the people who have a moderate gambling volume, at least, those with a big gambling volume may need to pay important amounts in fees. Probably they may not care to pay some extra money to move their Bitcoins in and out Stake anyways if they really want to continue gambling there instead moving to others casinos.

And as I said, 400 million is way too much as economical settlement to this person. I expect Stake to convince the Judge to dismiss the case or reduce the settlement amount to a way lower quantity which would not represent a blow to Stake's wallet.

Lanatsa

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Quote from: Taskford on September 16, 2022, 06:03:57 PM

Quote from: Lanatsa on September 16, 2022, 05:40:48 PM

snip

Seeing that legal battle what Stake currently facing on will make people doubt about their current condition since imagine if they lose to that case there's huge amount will be taken on their stash. And its valid concern for people since maybe this could be the reason on why stake will fall.

But let see how the case proceed and for sure many of curious people want to know the further developments happening to this.

400m is indeed a big amount but considering on how long and how profitable stake is in crypto space then i do believe that it wont be a reason for it to be closing down.
Yes,it might result on a big hit but wont be enough on wiping its existence on the market or would be closing down.They might affect big on their overall revenue but
if things comes back to normal then it would really be just easy as pie on recovering those losses that they do have if ever Freeman would really win up
this case and getting that 400m.

Wakate

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Quote from: freedomgo on September 16, 2022, 01:29:50 PM

Quote from: wxa7115 on September 15, 2022, 09:17:10 PM

Quote from: goldkingcoiner on September 15, 2022, 01:25:10 PM

I do hope that after the lawsuit has been thrown out of the window (as it should be), the so-called partner who brought the whole thing into being gets counter sued for defamation. Because this definitely will have a bad effect on Stake.com and they definitely will lose a considerable amount of users. Especially because, as already mentioned by you, the plaintiff is a former partner and by making such claims, he is, from my non-lawyer perspective, very probably engaging in libel/slander.

And honestly, I do not think I would let that go, if it were my company.

I really think that this is inevitable, if this was something that they spoke about in private or just among their lawyers then I do not think there will be too much of a case to sue him for those accusations.

But since he went public and he made a lot of noise about it probably knowing that his accusations were not true then I think there is enough for stake to go against him, maybe the lawsuit could be dropped as well but I think it is on their best interest that they take a strong stance against things like this so this doesn't happen again.

The plaintiff already made a big mistake ever since he made a lawsuit against the Stake.com, he didn't think well about what would happen to him because there is no solid evidence in his accusations against the said company. As you said, he could've talked the owners privately in front of their own respective lawyers to settle the issue. But no, if directly made a lawsuit that will just gonna be dropped anytime soon because the claims aren't enough plus that amount stated was a bit over exaggerated.

I think talking to the owner privately will not yield a good fund for him since the co-owner might not decide to end the deal well according to what he want. Suing a casino can really affect the rate of gamblers betting of the casino because many gamblers that do not have solid knowledge on what is happening cam mistakenly take things negatively and decide not to use the casino again or for the main time because of the fear of the casino crashing or ending up paying a huge sum of money which can affect the bankroll leading to bankruptcy. Let's see how the court judging will go.

Taskford

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Quote from: Lanatsa on September 16, 2022, 05:40:48 PM

Quote from: ChiNgadOr on September 16, 2022, 04:28:04 PM

Quote from: BITCOIN4X on September 12, 2022, 03:26:14 PM

Quote from: Hispo on September 12, 2022, 03:13:32 PM

There is still a change the jury or the judge gets convinced a monetary compensation does have place within the lawsuit, 400 million is completely out of proportion in my opinion, if the former partner ends up winning this lawsuit the final amount would end up being smaller.

I dont see major reasons to panic over this lawsuit, Stake likely have very good lawyers and enough money to pay and solve this all mess without going out of business.

If anyone feels uncomfortable with all this, simply keep enough funds on stake to gamble and move the rest of it to your wallet.

If people are concerned about risk, then they can always move their funds to a secure wallet rather than on a gambling platform. I think it is never safe to have very large funds on any gambling site, it is very risky. But have sufficient funds for your gambling needs and make a deposit when needed again.

$400M is such a huge amount, it will surely cause a lot of panic among stake customers.

I see no risk here because this cam not in any way make the entire company to fold up since they they have huge backup and funds. This is just a mere a legal battle between the founders of stake and this does not in any way affect the gamblers that are playing bets of the site on a daily basis.
Some gamblers might think of their safety here because they don't really know what the outcome of this legal battle going to be like but if we look at it from other angle, this is a normal thing that do happens within companies when there is some problems between the founders.

You cant really blame out people on not to have that kind of doubt that this platform might be experiencing whether a temporary or permanent operation of Stake which it is unlikely to happen but we dont know

considering that it do involves already a case where something it could possibly be ending up on that kind of scenario and thats why i cant blame out other people on having this kind of impression and doubts.

Hope that this one would really be settled out but if Freeman would fight for that $400m then this is something not a small amount to deal with via other co-founders.

Seeing that legal battle what Stake currently facing on will make people doubt about their current condition since imagine if they lose to that case there's huge amount will be taken on their stash. And its valid concern for people since maybe this could be the reason on why stake will fall.

But let see how the case proceed and for sure many of curious people want to know the further developments happening to this.

Lanatsa

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Quote from: ChiNgadOr on September 16, 2022, 04:28:04 PM

Quote from: BITCOIN4X on September 12, 2022, 03:26:14 PM

Quote from: Hispo on September 12, 2022, 03:13:32 PM

There is still a change the jury or the judge gets convinced a monetary compensation does have place within the lawsuit, 400 million is completely out of proportion in my opinion, if the former partner ends up winning this lawsuit the final amount would end up being smaller.

I dont see major reasons to panic over this lawsuit, Stake likely have very good lawyers and enough money to pay and solve this all mess without going out of business.

If anyone feels uncomfortable with all this, simply keep enough funds on stake to gamble and move the rest of it to your wallet.

If people are concerned about risk, then they can always move their funds to a secure wallet rather than on a gambling platform. I think it is never safe to have very large funds on any gambling site, it is very risky. But have sufficient funds for your gambling needs and make a deposit when needed again.

$400M is such a huge amount, it will surely cause a lot of panic among stake customers.

I see no risk here because this cam not in any way make the entire company to fold up since they they have huge backup and funds. This is just a mere a legal battle between the founders of stake and this does not in any way affect the gamblers that are playing bets of the site on a daily basis.
Some gamblers might think of their safety here because they don't really know what the outcome of this legal battle going to be like but if we look at it from other angle, this is a normal thing that do happens within companies when there is some problems between the founders.

You cant really blame out people on not to have that kind of doubt that this platform might be experiencing whether a temporary or permanent operation of Stake which it is unlikely to happen but we dont know

considering that it do involves already a case where something it could possibly be ending up on that kind of scenario and thats why i cant blame out other people on having this kind of impression and doubts.

Hope that this one would really be settled out but if Freeman would fight for that $400m then this is something not a small amount to deal with via other co-founders.

ChiNgadOr

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Quote from: BITCOIN4X on September 12, 2022, 03:26:14 PM

Quote from: Hispo on September 12, 2022, 03:13:32 PM

There is still a change the jury or the judge gets convinced a monetary compensation does have place within the lawsuit, 400 million is completely out of proportion in my opinion, if the former partner ends up winning this lawsuit the final amount would end up being smaller.

I dont see major reasons to panic over this lawsuit, Stake likely have very good lawyers and enough money to pay and solve this all mess without going out of business.

If anyone feels uncomfortable with all this, simply keep enough funds on stake to gamble and move the rest of it to your wallet.

If people are concerned about risk, then they can always move their funds to a secure wallet rather than on a gambling platform. I think it is never safe to have very large funds on any gambling site, it is very risky. But have sufficient funds for your gambling needs and make a deposit when needed again.

$400M is such a huge amount, it will surely cause a lot of panic among stake customers.

I see no risk here because this cam not in any way make the entire company to fold up since they they have huge backup and funds. This is just a mere a legal battle between the founders of stake and this does not in any way affect the gamblers that are playing bets of the site on a daily basis.
Some gamblers might think of their safety here because they don't really know what the outcome of this legal battle going to be like but if we look at it from other angle, this is a normal thing that do happens within companies when there is some problems between the founders.

Topic: Crypto Casino Stake.com sued for $400 million - page 2. (Read 4171 times)