Stake is a well-known online sportsbook and casino operator with years of experience in providing fair play options to its customers across various jurisdictions, including Australia. The brand’s expansion into the Australian market has raised questions among punters about what makes Stake different from other operators.
Overview
The company behind Stake was founded StakeBro by Ed Craven in 2019 with an aim to revolutionize online gaming through innovative betting features and a user-friendly interface. Initially targeting European markets, Stake soon expanded its reach to Australia due to the country’s relaxed regulations regarding iGaming.
With no local office in Australia, the operation is outsourced from Malta, which implies that all transactions are handled by offshore companies with questionable credibility. It also means customers do not have an opportunity to report any grievances or concerns at a dedicated office based on Australian soil.
Registration Process
Signing up for Stake’s online casino and sportsbook takes merely minutes due to its streamlined registration process. The operator offers two separate options: an account specifically tailored towards betting on sports, which automatically creates a balance called ‘Stake’. Alternatively, customers can opt-in for the Stake Casino option, creating another wallet solely dedicated for gaming.
Upon selection of either choice, punters must enter their personal details such as full name, email address and phone number. For users registering from Australia, identification information is mandatory at account setup stage due to Australian anti-money laundering regulations.
Account Features
Once users have set up an account, they gain access to Stake’s various features such as a dedicated wallet for betting on sports or casino games with their respective funds segregated by law.
The Stake website does not offer any ‘Cash Out’ option like many other online sportsbooks; hence the risk involved is higher because there’s no provision made available that allows users to withdraw the profits earned until they decide so themselves. Similarly, customers are provided no facility of using credit cards to deposit/withdraw funds in their accounts.
Bonuses
The operator has introduced several promotional packages as incentives to lure potential players into opening an account with its services including:
- Stake offers a Welcome Offer to users registering from Australia for both casino and betting sections.
- Referral scheme: StakeBro allows registered customers to refer friends or family who will receive the offer automatically after receiving their referral link.
However, there is limited information available concerning Stake’s loyalty program. While it might be part of stakebro.com service offerings, we’ve been unable to verify its current standing since launch date.
Payment Options and Withdrawal
Stake accepts several payment methods including Bank transfer (in Australian dollars), PayPal, Neteller or Skrill e-wallets but is reportedly closed off for deposits & withdrawals by Mastercard and Visa. Stake’s banking page claims that a minimum payout of AU$10 per transaction; however it has been reported by some users that certain transactions result in loss despite using these same terms.
A major aspect not mentioned within user testimonials, the potential processing periods or any extra charges on both receiving side could have further impacted this perceived overall value as part of betting and deposit experience.