Crypto Casino Stake.com sued for $400 million - page 6.

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This is madness! An established company may have a lot of money but going around to sue a company that in some ways give you some inconvenience fortune is nonsense. The same amount of $400m crypto.com spent on a 5-year partnership deal with UEFA Champions League, the lawyer needs to be spread some pepper spray in the eye regardless of what transpires between them.

Quote from: uneng on September 04, 2022, 05:00:14 PM

Every businesses are subject to lawsuits. That is a common issue many companies and businesses face daily, what doesn't mean the casino is going to crash and go bankrupt for this reason despite the case's outcomes.

Not when the lawsuits can break them, even if they are guilty, the jury wouldn't be in favour for them to pay out the $400m, the company will likely die sooner than expected.

Quote

I don't know how much Stake is currently dealing with in a daily basis, but for being the biggest crypto casino among all, I guess a hypothetical 400,000,000$ loss won't hurt them at all. Remember a sole gambler wagered more than 1$ billion dollars on the platform already. For the house it's much more profitable to keep operating, even if they have to pay an indemnity, than closing the doors and losing its income that will inevitably cover the prejudice after a while.

Op is an example that many players will stop playing in that casino, now that the company has been sued, their revenues will reduce because they wouldn't experience traffic as they used to and paying off will be difficult.

iv4n

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Quote from: bittraffic on September 05, 2022, 03:55:32 AM

Quote from: _act_ on September 05, 2022, 03:43:26 AM

Quote from: avikz on September 02, 2022, 02:00:08 AM

$400 million in punitive damage? That's insane! I believe it's a good time to withdraw your funds from Stake asap because you never know the outcome of the lawsuit. This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane. So just to make your funds safe, move to a different casino for the time being.

If everyone move their funds from Stake, Stake would collapse, but not everyone would do that. Court cases are solved case by case, court would also look for what would protect Stake customers funds. As I see this, there is nothing to worry about as long as nothing like Stake crypto account was hacked.

$400 million is a small amount than what they will have in the future. If you just peak which casino is on top of the rank in crypto, Stake s above all. But I'm sure they can figure out how to untangle with a negotiation. This is a simple misunderstanding and the other party could just settle for less if this is not tangled politically along with regulators in crypto. If this involves politics like regulators, therefore it's a problem for all crypto casino.

I agree with Bittraffic here, Stake makes money, and $400 million is probably nothing compared with the money they are earning and will earn in the future! I also believe they will make some settlement here, in the beginning, the numbers are always blown, to scare others, but as time goes that will be a lot lower I am sure. It's a big question how strong the case Christopher Freeman has here, I guess something we have to wait and see.

I doubt that many people will move the funds, after all, it's a gambling site, and most people gamble with money they can afford to lose! And even more, I doubt that Stake will take money from players, that would be their end, there are other ways for them to pay it and business to continue to bring profits!

bittraffic

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Quote from: _act_ on September 05, 2022, 03:43:26 AM

Quote from: avikz on September 02, 2022, 02:00:08 AM

$400 million in punitive damage? That's insane! I believe it's a good time to withdraw your funds from Stake asap because you never know the outcome of the lawsuit. This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane. So just to make your funds safe, move to a different casino for the time being.

If everyone move their funds from Stake, Stake would collapse, but not everyone would do that. Court cases are solved case by case, court would also look for what would protect Stake customers funds. As I see this, there is nothing to worry about as long as nothing like Stake crypto account was hacked.

$400 million is a small amount than what they will have in the future. If you just peak which casino is on top of the rank in crypto, Stake s above all. But I'm sure they can figure out how to untangle with a negotiation. This is a simple misunderstanding and the other party could just settle for less if this is not tangled politically along with regulators in crypto. If this involves politics like regulators, therefore it's a problem for all crypto casino.

_act_

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Quote from: avikz on September 02, 2022, 02:00:08 AM

$400 million in punitive damage? That's insane! I believe it's a good time to withdraw your funds from Stake asap because you never know the outcome of the lawsuit. This is not the first time we have seen such ownership dispute in crypto world but the amount this time is insane. So just to make your funds safe, move to a different casino for the time being.

If everyone move their funds from Stake, Stake would collapse, but not everyone would do that. Court cases are solved case by case, court would also look for what would protect Stake customers funds. As I see this, there is nothing to worry about as long as nothing like Stake crypto account was hacked.

Fundamentals Of

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Quote from: uneng on September 04, 2022, 05:00:14 PM

Every businesses are subject to lawsuits. That is a common issue many companies and businesses face daily, what doesn't mean the casino is going to crash and go bankrupt for this reason despite the case's outcomes. I don't know how much Stake is currently dealing with in a daily basis, but for being the biggest crypto casino among all, I guess a hypothetical 400,000,000$ loss won't hurt them at all. Remember a sole gambler wagered more than 1$ billion dollars on the platform already. For the house it's much more profitable to keep operating, even if they have to pay an indemnity, than closing the doors and losing its income that will inevitably cover the prejudice after a while.

Even if Stake is earning big, it doesn't mean that $400 million is nothing to them. It must still be a very big amount that will definitely be heavy on the owners' shoulders. Something might be sacrificed for that. It could be about a sponsorship or marketing plan. But until now, the case is yet to be finally decided by the courts. It could favor any of the parties involved. But whatever initial decision to be released could still be appealed so it may still take some time.

n0ne

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Quote from: livingfree on September 04, 2022, 04:41:19 PM

Quote from: Viscore on September 04, 2022, 03:07:27 AM

Quote from: livingfree on September 02, 2022, 04:26:18 AM

~snip~

I believe long time users of Stake.com can also attest that this accusation is a lie, and that Freeman’s demands are clearly for own intentional desires. However, this may somehow affect the reputation of Stake.com as some gamblers will start to develop fear on the said casino. But for those who have built their trust on Stake.com, this kind of news won’t never create a big deal and won’t stop them from playing in Stake.com.

It's on the users now.

If this isn't a big thing for them, they will just continue. But if this worries them, they can make their own research and ask them directly. It's easy to ask this, they have an active thread, and they have the support and email.

They are there to contact freely if something is bothering a user from this issue that he has seen. And it's on the user if the answer is satisfying, justifiable or not.

Agreed, and already Stake have informed that it is completely a false report being spread by Freeman to destroy the growth of Stake. Freeman who have partnered them in previous business weren't involved with Stake. Now looking upon the growth it have achieved in the short time period he have went for a lawsuit. Stake will soon conclude this problem.

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Quote from: uneng on September 04, 2022, 05:00:14 PM

Every businesses are subject to lawsuits. That is a common issue many companies and businesses face daily, what doesn't mean the casino is going to crash and go bankrupt for this reason despite the case's outcomes. I don't know how much Stake is currently dealing with in a daily basis, but for being the biggest crypto casino among all, I guess a hypothetical 400,000,000$ loss won't hurt them at all. Remember a sole gambler wagered more than 1$ billion dollars on the platform already. For the house it's much more profitable to keep operating, even if they have to pay an indemnity, than closing the doors and losing its income that will inevitably cover the prejudice after a while.

stake is one of the gambling sites that is already very large, so they will not close the service just because of a claim of that value, besides that the legal decision has not come down so it can't be confirmed whether the stake will lose and have to pay that amount of compensation. I support stake, because I like how they maintain their reputation and keep their service well. the chance of stake to win is still big, they must be able to continue to appeal even though the judge's decision has been down.

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Quote from: passwordnow on September 04, 2022, 06:48:32 PM

Quote from: fortunecrypto on September 03, 2022, 08:49:11 AM

Quote from: passwordnow on September 03, 2022, 08:37:38 AM

If they're not even bothered by it, there's no way that the customers should be bothered by it.

It's not that Freeman can get the win right away there will be a lot of presentations on the case, between the two Stake.com has the money they can hire or they already have the best lawyers to fight this case, they can go on a short route by settlement, I don't think this is something that will cause alarm, Facebook has similar issues in the past, and many corporate have faced similar issues, Stake.com knows what to do and they will continue to be the top casino in the industry.

They can just win the case and pay lesser to their attorney and get away with what Freeman is asking so they save more money and get through it legally. That's why they seem to be not bothered by it.
There were many issues and legal battles from corporations that have become popular and profitable when one individual or founding member of it a long time ago was ejected and wanted to get in when it's already beneficial.

I support that if Freeman cannot show up documents and witnesses to back up his charges and claims, Stake should battle it out in court to clear their name and protect their reputation, its better to win the battle in courts if you think the other party is accusing you falsely if they win the battle all misinterpretation will vanish but if they give in to Freeman's demand people will look the other way, so they have done the right things refuting Freeman's claims, I just hope as one of Stake.com supporters that these things will not drag on for a long period of time.

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Quote from: fortunecrypto on September 03, 2022, 08:49:11 AM

Quote from: passwordnow on September 03, 2022, 08:37:38 AM

If they're not even bothered by it, there's no way that the customers should be bothered by it.

It's not that Freeman can get the win right away there will be a lot of presentations on the case, between the two Stake.com has the money they can hire or they already have the best lawyers to fight this case, they can go on a short route by settlement, I don't think this is something that will cause alarm, Facebook has similar issues in the past, and many corporate have faced similar issues, Stake.com knows what to do and they will continue to be the top casino in the industry.

They can just win the case and pay lesser to their attorney and get away with what Freeman is asking so they save more money and get through it legally. That's why they seem to be not bothered by it.
There were many issues and legal battles from corporations that have become popular and profitable when one individual or founding member of it a long time ago was ejected and wanted to get in when it's already beneficial.

uneng

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Every businesses are subject to lawsuits. That is a common issue many companies and businesses face daily, what doesn't mean the casino is going to crash and go bankrupt for this reason despite the case's outcomes. I don't know how much Stake is currently dealing with in a daily basis, but for being the biggest crypto casino among all, I guess a hypothetical 400,000,000$ loss won't hurt them at all. Remember a sole gambler wagered more than 1$ billion dollars on the platform already. For the house it's much more profitable to keep operating, even if they have to pay an indemnity, than closing the doors and losing its income that will inevitably cover the prejudice after a while.

Lanatsa

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Quote from: Wapfika on September 04, 2022, 07:06:24 AM

Quote from: cryptomaniac_xxx on September 04, 2022, 05:30:54 AM

Quote from: mindrust on September 04, 2022, 01:08:44 AM

Even if he don’t win the lawsuit these news will be devastating for the casino’s public image. Now lots if people will panic and withdraw funds because of that. It may even send the casino to bankruptcy. Stake/Primedice is (or was) one of the biggest casinos in this space and not many people had any serious problems with them. They (probably) still have a good reputation but these news might change everything.

I don't think that this could be a significant news for Primedice/Stake, they are the prime movers of crypto casinos and with that it's hard to see them losing that position because they are fighting against one another in the court. For sure there will be competitions already that will try to take a piece of the pie, but it will not be easy as this 2 are still on the top of this very niche. Unless there have been issues like not paying their whales, but in this case? as othes mentioned it's just about the money and not their reputation is on the line.

Primedice is not a top casino since it focus only on dice game while Stake get all the spotlight. This is the reason why the complainant wants to sue them for leaving him behind on Stake investment while they are together on Primedice which now has a low volume compared to Stake. Sportsbet.io and it’s sister company are on top contender on Stake spot. These casinos is one of the biggest casino in crypto and probably almost same profit revenue to Stake since its marketing and sponsor is almost at the same level of Stake.

If you do go back into those early years where Dice sites are the most popular sites then you do know that Primedice is one of the best of that time which i dont have any doubts that they've earned
tons into those times.If percentage shares had been decreased or changed up into Primedice time with Freeman but didnt make out some complaints and when the time comes that Stake
did really fly out with colors but didnt really get the enough shares as contracted or agreed upon then it would really be just normal that he would really be getting the amount
that he should have earned or shares that he had.

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Quote from: Viscore on September 04, 2022, 03:07:27 AM

Quote from: livingfree on September 02, 2022, 04:26:18 AM

~snip~

I believe long time users of Stake.com can also attest that this accusation is a lie, and that Freeman’s demands are clearly for own intentional desires. However, this may somehow affect the reputation of Stake.com as some gamblers will start to develop fear on the said casino. But for those who have built their trust on Stake.com, this kind of news won’t never create a big deal and won’t stop them from playing in Stake.com.

It's on the users now.

If this isn't a big thing for them, they will just continue. But if this worries them, they can make their own research and ask them directly. It's easy to ask this, they have an active thread, and they have the support and email.

They are there to contact freely if something is bothering a user from this issue that he has seen. And it's on the user if the answer is satisfying, justifiable or not.

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Quote from: cryptomaniac_xxx on September 04, 2022, 05:30:54 AM

Quote from: mindrust on September 04, 2022, 01:08:44 AM

Even if he don’t win the lawsuit these news will be devastating for the casino’s public image. Now lots if people will panic and withdraw funds because of that. It may even send the casino to bankruptcy. Stake/Primedice is (or was) one of the biggest casinos in this space and not many people had any serious problems with them. They (probably) still have a good reputation but these news might change everything.

I don't think that this could be a significant news for Primedice/Stake, they are the prime movers of crypto casinos and with that it's hard to see them losing that position because they are fighting against one another in the court. For sure there will be competitions already that will try to take a piece of the pie, but it will not be easy as this 2 are still on the top of this very niche. Unless there have been issues like not paying their whales, but in this case? as othes mentioned it's just about the money and not their reputation is on the line.

Primedice is not a top casino since it focus only on dice game while Stake get all the spotlight. This is the reason why the complainant wants to sue them for leaving him behind on Stake investment while they are together on Primedice which now has a low volume compared to Stake. Sportsbet.io and it’s sister company are on top contender on Stake spot. These casinos is one of the biggest casino in crypto and probably almost same profit revenue to Stake since its marketing and sponsor is almost at the same level of Stake.

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Quote from: ?? on ??

You can read more about Stake.com here: http://sportstatist.com/stake-review/

After two years are you still at it, you've been given a neutral tag for this now you're posting again on something that is out of topic and with no relevance to what is being discussed here

Quote

Only here to spam his affiliate links. Don't click on them.

Going back to the topic Stake is very firm that they will not give in to Freeman's demand, Freeman must have documents to back up his claims if he doesn't have clear documentation on what transpired and anything to back up his claim Stake.com will not do an out of court settlement on Freeman's term.

Quote

It added the founders of the company do not intend to cave to Freeman’s demands “and are confident that these utterly frivolous allegations will be dismissed by the court in due course.”

acroman08

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Quote from: ?? on ??

You can read more about Stake.com here: http://sportstatist.com/stake-review/

what's the point of posting this here? what does reading your review of stake.com has to do with the topic? at this point, you are just ad-spamming your website in this thread. perhaps next time read what the topic is about and learn to know when and where is the right time to advertise your website.

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Quote from: mindrust on September 04, 2022, 01:08:44 AM

Even if he don’t win the lawsuit these news will be devastating for the casino’s public image. Now lots if people will panic and withdraw funds because of that. It may even send the casino to bankruptcy. Stake/Primedice is (or was) one of the biggest casinos in this space and not many people had any serious problems with them. They (probably) still have a good reputation but these news might change everything.

I don't think that this could be a significant news for Primedice/Stake, they are the prime movers of crypto casinos and with that it's hard to see them losing that position because they are fighting against one another in the court. For sure there will be competitions already that will try to take a piece of the pie, but it will not be easy as this 2 are still on the top of this very niche. Unless there have been issues like not paying their whales, but in this case? as othes mentioned it's just about the money and not their reputation is on the line.

tygeade

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Quote from: NAPK1NS_RA3 on September 02, 2022, 01:17:22 AM

As a long time Stake user this makes me feel concerned, I'll be withdrawing all of my funds and going elsewhere!

I am not sure if withdrawing would be needed, but it certainly wouldn't hurt neither, that is the key point. Will something happen and would your funds be hurt if this goes to trial? I do not think so, I think all the funds are safe and nothing will happen, but can I guarantee it? Of course not, which means that even if you may not have any problems with your funds being in stake, you certainly wouldn't have it on Binance or like a ledger wallet neither, that is a 100% guaranteed option at least unless you are hacked or whatever which is personal stuff not general.

Trusting a place doesn't mean other options aren't as safe as staying put, withdrawing is AT LEAST as safe, if not more, as keeping it on stake.

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Quote from: livingfree on September 02, 2022, 04:26:18 AM

Upon reading, if you're a long time user of them, there's no need for you to worry. This is like an internal issue and the management has handled it.

The answer is there and stake has already given their answer for this sue that has been filed for them. So, as it says, there's the quote in the article that says:

Quote from: https://watcher.guru/news/bitcoin-casino-founders-slapped-with-a-400m-lawsuit?c=566

Crypto casino Stake.com labels Freeman’s claims “inconsistent” and “misleading”

The founders of Stake.com were adamant about how Freeman’s claims were false. The firm even suggested that the lawsuit was desperate to spread incorrect information. The statement further read,

“The complaint filed by Chris Freeman contains allegations that are internally inconsistent, intentionally misleading, and provably false.”

The firm affirmed that it would stand its ground and not give in to Freeman’s demands. The founders of the Bitcoin casino were quite confident about the court dismissing Freeman’s claims shortly.

I believe long time users of Stake.com can also attest that this accusation is a lie, and that Freeman’s demands are clearly for own intentional desires. However, this may somehow affect the reputation of Stake.com as some gamblers will start to develop fear on the said casino. But for those who have built their trust on Stake.com, this kind of news won’t never create a big deal and won’t stop them from playing in Stake.com.

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Quote from: mindrust on September 04, 2022, 01:08:44 AM

Even if he don’t win the lawsuit these news will be devastating for the casino’s public image. Now lots if people will panic and withdraw funds because of that. It may even send the casino to bankruptcy. Stake/Primedice is (or was) one of the biggest casinos in this space and not many people had any serious problems with them. They (probably) still have a good reputation but these news might change everything.

It isn't a reason enough for people to feel devastated or fearful about this case because we all know that Stake is a reputable site and they will never let this issue pass without solving it. If it isn't affecting the gameplay, for now, I guess we shouldn't feel too bothered about what is happening because it will still take a legit process. It might affect the image of Stake but I don't think it will affect the good service that they could provide.

mindrust

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Even if he don’t win the lawsuit these news will be devastating for the casino’s public image. Now lots if people will panic and withdraw funds because of that. It may even send the casino to bankruptcy. Stake/Primedice is (or was) one of the biggest casinos in this space and not many people had any serious problems with them. They (probably) still have a good reputation but these news might change everything.

Topic: Crypto Casino Stake.com sued for $400 million - page 6. (Read 4152 times)