The founder of the world’s largest cypro betting site just bought a $28 million mansion

Posted: March 11, 2022, 6:11 a.m.

Last update: March 12, 2022, 2:42 a.m.

The mystery buyer of a 38.5 million Australian dollar ($28 million) mansion in Melbourne has been identified by Australian media as the 26-year-old co-founder of one of the largest crypto betting operations in the world. world.

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The mansion, in Toorak, Melbourne, is one of Australia’s most expensive properties. Its new owner, Ed Craven, top right, is just 26 years old. (Image: Sharyn Cairns/Conrad Architects)

Ed Craven created community betting platform Stake.com in 2017. Today it has over 500,000 registered users and top-tier sponsorship deals with the UFC and Watford FC in the English Premier League. It also counts multi-platinum hip-hop star Drake as a brand ambassador.

The value of the company is estimated at more than a billion dollars, according to The Sydney Morning Herald (SMH).

Craven also owns Easygo, an Isle of Man-based B2B crypto gaming software provider.

The lives of the rich and famous

His new pad is one of the most expensive houses in Australia. The luxury mansion in Melbourne’s affluent Toorak suburb spans 6,500 square feet and has a three-car garage, four bedrooms (only four?) and as many bathrooms.

The interior is fashioned in an art deco style that includes a curved staircase and modernist carvings. “An in-ground pool adds to the resort-style backyard with a landscaped garden and outdoor entertaining space,” reads the realtor.

The previous owner was Will Deague, CEO of property developer Deague Group, which bought the property in 2018 for $12.2 million. Deague had the house demolished and started over, rebuilding the mansion from the ground up and achieving a 200% return on investment.

Craven is upgrading a 15 million Australian dollar (US$10 million) penthouse apartment in Melbourne’s Southbank area, which is also home to Crown Casino Melbourne.

No Aussie Bets

Stake.com was recently the subject of a SMH “exposed” who questioned why a crypto-online casino based its headquarters in Melbourne, when online casino gambling is illegal in Australia.

SMH was perhaps disappointed to learn that Stake.com does not take any bets from Australia and therefore does not break any laws, which led to a rather toothless expose.

However, SMH raised the legitimate point that the company’s license in Curacao means that it escapes the stringent anti-money laundering controls it would be subject to elsewhere.

Stake.com is not licensed in the United States and does not accept US customers. But it made its licensed UK debut in December. UK customers can only bet using fiat currency, as the country does not allow crypto betting.

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