Who owns Stake in US?

When it comes to online gaming in the United States, few platforms have made as significant an impact as Stake.us. But who exactly owns this popular sweepstakes casino that has captured the attention of millions of American players? The answer lies with two Australian entrepreneurs whose journey from teenage gamers to billionaires is nothing short of extraordinary.

Meet the Owners: Ed Craven and Bijan Tehrani

Stake.us is owned by Ed Craven and Bijan Tehrani, two Australian entrepreneurs who co-founded the platform through their company Sweepsteaks Limited, which is incorporated in Cyprus. These aren’t just any ordinary business partners – they’re among the world’s youngest self-made billionaires, with their combined wealth built primarily through their gaming empire.

Edward Craven, born in 1995, is an Australian billionaire entrepreneur known as the co-founder of the online casino Stake and the live-streaming platform Kick. Bijan Tehrani, also a billionaire entrepreneur, was born in the United States to Iranian parents and later moved to Australia, where he currently resides in Melbourne.

From RuneScape to Global Empire

The story of Stake’s ownership begins in an unexpected place: the virtual world of RuneScape. In 2010, when Craven was 15 and Tehrani 17, the two first connected through RuneScape, a fantasy role-playing game. They became regular chat buddies and together created a casino within the game. This early venture, though it led to them being kicked off the platform, planted the seeds for what would become a multi-billion-dollar empire.

Their entrepreneurial journey continued with the launch of Primedice in 2013, one of the first Bitcoin gambling sites. In 2016, Ed Craven and Bijan Tehrani established Easygo, a company that developed games for online casinos. This became the foundation for their ultimate success.

The Birth of Stake.us

Stake was launched in 2017, and on August 1, 2022, Stake.us was launched as a separate site for U.S. residents. Unlike the international Stake.com, which operates as a cryptocurrency-based casino, Stake.us functions as a sweepstakes casino, making it legal in most U.S. states.

Stake.us operates under the brand name of Sweepsteaks Limited, with the company’s primary office situated in Nicosia, Cyprus. However, the ultimate ownership traces back to Easygo, the parent company established by Craven and Tehrani.

Impressive Financial Success

The financial success of the Stake empire is staggering. Despite facing restrictions in the United States, United Kingdom, and much of Europe, Stake.com generated $4.7 billion in revenue in 2024. This success has translated into enormous personal wealth for the founders.

In October 2024, Craven debuted on the Financial Review’s Young Rich List, ranking 68th with a net worth of A$2.01 billion. At the same time, Forbes Australia highlighted Craven and Tehrani’s US$5.6 billion fortune, built through Stake and Kick. According to Financial Review Rich List, Ed Craven’s net worth is estimated to be about 3.15 billion dollars in 2025, while Bijan Tehrani’s current net worth is estimated to be $2.8 billion.

Beyond Gambling: The Kick Platform

The duo’s ambitions extend beyond gambling. Kick was launched in 2022 by Craven and his business partner, Tehrani, with the intention of competing with Amazon’s Twitch as an online live-streaming platform. Unlike Twitch, it provides a 95-5% split of revenues to content creators.

Setting the Record Straight: Drake’s Role

While many people believe that rapper Drake owns a stake in the company due to his high-profile association with the brand, there has been no official statement or evidence to suggest Drake is a part-owner of the Stake empire. However, he is one of the leading brand ambassadors with an estimated $100 million per year sponsorship deal.

Conclusion

Stake.us represents the culmination of two decades of innovation and entrepreneurship by Ed Craven and Bijan Tehrani. From their humble beginnings as teenage gamers to their current status as billionaire business moguls, their ownership of Stake in the US reflects a remarkable journey of vision, risk-taking, and strategic execution. As the sweepstakes casino continues to grow in popularity across America, these Australian entrepreneurs remain firmly at the helm of one of the industry’s most successful platforms.