Stake increases popularity and registers BRL 13 billion in revenue in 2022
Stake increases popularity and registers BRL 13 billion in revenue in 2022

Stake reached a global gross revenue of US$ 2.6 billion (about R$ 13 billion) in 2022 – a sample of how online games have gained space in recent years. The operator launched in 2017 is in several Asian and South American countries, such as Brazil and Mexico.

This growth is strongly related to Canadian rapper Drake, who has a US$ 100 million advertising contract with the company, according to a report by the British newspaper Financial Times (FT). The site declared that has become the seventh largest gaming group on the planet.

“I am incredibly proud of everyone’s efforts at the Stake. Our growth has been astronomical since inception in 2017, growing from a handful of customers to the company we are today,” company co-founder Ed Craven wrote in an article on Medium.

The FT pointed out that, in 2020, the Stake had gross revenues of US$105 million.

Stake shares with Drake

The big star of the bookmaker is the Canadian singer, who has become a frequent bettor in the most varied sports. In simultaneous actions, Drake exposes his bets on his Instagram profile – with 134 million followers – while on the Stake platform he shows his bets and reactions live.

Who manages everything are the company’s 370 employees trained to serve VIP and “super” VIP players, says the FT. In addition to Drake, the group also supports numerous YouTube channels, including Brazilian ones that produce content about MMA, such as Diretasso, Super Lutas and Sixth Round – to serve players, the platform also accepts deposits via PIX.

The company has approximately 6 million registered accounts, but the number of regular users, that is, those who play always or occasionally, is 600 thousand. A good part of this number is from Asian countries and Brazil.

Ingo Fiedler, co-founder of the Blockchain Research Lab, admitted that part of the Stake‘s backlash may be down to the fact that cryptocurrency and gambling are natural companions, both attracting risk-taking customers.