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LONDON – Gambling is illegal in Britain, but Melbourne-based digital casino giant Stake.com is urging Britons to do so through campaigns with fines.
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Techniques range from classic schemes like sponsoring Premier League teams and using celebrity endorsements to using sophisticated marketing tactics to persuade users to break the rules.
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In at least one case, this aggressive use of the loophole seriously affected the lives of the gambler and his employer, resulting in bankruptcy, career destruction, and mental health damage, as detailed below.
The reason for the British ban is simple: according to the anti-money laundering rules governing gambling transactions, the source of funds stored in cryptocurrency cannot be proven, as it is easy to make anonymous transactions or use false identities for products such as bitcoin, Ethereum. . and the like.
In practice, UK regulations against the use of crypto-assets for gambling are unaffected by the widespread use of software called Virtual Private Networks (VPNs), which route users to countries with more permissive regimes. Moreover, in July 2022, Stake.com paid at least 14 websites that promoted the use of VPNs to access its website through affiliate links with individual web addresses to pay the publisher for each user click. they are.
The UK government is set to propose tougher rules to protect gamblers from unaffordable losses, but they won’t protect users accessing foreign websites via a VPN.
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Meanwhile, campaigners warn that using VPNs to avoid so-called geofencing, designed to prevent people in the UK from accessing Stake.com and other banned websites, could be a tax dodge for Australian companies. and the gambling industry in general. Geofencing is a voluntary, non-state-enforced measure by companies that redirects a user’s computer based on the country to which its IP address is assigned. VPNs camouflage IP and reroute web traffic to foreign countries.
Stake.com (not to be confused with unrelated companies of similar names in the real estate, stock trading and IT industries) is licensed in the UK through TGP Europe Limited, an Isle of Man company. The company, better known as Stake Casino, is working with US singer Drake to promote its service, among other celebrities and sports stars.
Stakes advertises itself in advertising and social media as the “leading crypto betting platform” – but its UK license does not allow it to offer cryptocurrency betting. Therefore, in June, a clear rejection of this fact from the description on the website of the Premier League team Everton, the T-shirt sponsor, after the previous collaboration with Watford FC was discontinued.
TGP Europe is a white-label provider of rules-compliant betting sites, a controversial practice in itself, which sports news website The Athletic has long documented.
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Although Stake Casino is licensed in the UK, allowing it to promote its brand in that country, its licensed website (stake.uk.com) does not allow gambling with cryptocurrency, and this website is often mentioned in some of Stake’s very expensive campaigns. . Attracting relatively well-off British consumers.
Although the company’s main website is blocked in the UK (stake.com automatically redirects to stake.uk.com via a geofencing process) it is the first to appear on all promotional material, including Everton’s matchday shirt. Meanwhile, Stake.com is licensed in the Dutch-run Caribbean island of Curaçao, which does not restrict cryptocurrency transactions. It also uses Cypriot company Medium Rare Limited to process payments, according to its website.
Several attempts were made to contact Stake and its administrators via email and LinkedIn with detailed questions and a right to reply prior to publication, but no response was received.
Since its flagship website is technically unavailable in the UK, why would Stake Casino spend millions promoting its website and brand to a UK audience as its games are illegal?
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One answer, based on publicly available information, could be that it pays other sites that recommend users to easily visit the blog and gamble with all the cryptocurrency they can get their hands on.
An analysis of machine learning software by specialist IT company ComplEye Tech found at least 14 such websites telling readers how to access Stake.com from restricted jurisdictions such as the UK and US, with “affiliate links” on the same page. . ,” paid by Stake.
Of course, VPNs are not illegal and can be useful in getting around country-specific bans on websites of general interest, such as those set up by Russia and China against Western social networks, most famously. But VPNs are still useful for accessing gambling bans, and Stake.com has an official policy against allowing them.
“It is a violation of these Terms of Service to attempt to manipulate your real location by using VPN, proxy, or similar services, or by providing false or misleading information about your location in order to circumvent geo-restrictions or jurisdictional restrictions. “, Stake.com noted on its website. But his actions clearly go in the opposite direction.
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Stake is treading on thin ice by paying for such content on casino.guide, the leading site for using VPNs specifically to access Stake.com in the US and UK, the lead ad said. This website, as a typical example of how the system works, contains relevant links supported by Stake on these pages, and also says a silent section about the use of VPNs. “[F]in our experience, Stake is particularly comfortable with this and tries to enforce it quite a bit…However, while you may not be able to access Stake in the US, UK or elsewhere, and despite the [terms and conditions], Stake’s full you can use VPNs to enjoy its offer. This is one of 14 examples found by ComplEye Tech that use strikingly similar wording.
Such promotion could cost Stake its UK license, according to Clean Up Gambling campaigner Matt Zarb-Cousin. Because the licensed company is responsible for the content of advertising published on its behalf by a contracted third party, he explained.
“Licensed operators are responsible for the content of their affiliates, so they will be penalized by the [Gambling Commission] for breaching the advertising code as it will also be a breach of the terms of the licence,” added Zarb-Cousin. execution of this matter. It’s been pretty easy so far. “If there are affiliates that are clients of licensed entities that promote illegal sites, those affiliates should be shut down and the licensed entities responsible for this content should be punished. This is not happening now.”
“The gambling commission should be aware that [bets] are encouraging people to use VPNs to gamble with crypto, as well as promoting the use of VPNs through related content,” he said. “The problem with VPNs is that they send income through other jurisdictions, which can be a tax evasion issue for HMRC,” Zarb-Cousin added, referring to HM Revenue and Customs, the UK’s tax authority.
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The UK tax code requires online casino companies to pay a 21 percent “remote gaming tax” on bets placed by their UK-based customers.
In a clear indication that Stakes is not concerned about global website advertising while complying with UK gambling regulations, a press release announcing its Premier League partnership with Watford FC read:
“To celebrate the launch of the partnership, Stake will be running crypto-themed initiatives, including donating 10 million Dogecoins across its international platforms. In addition, when Stake launches its UK website, Stake.co.uk, UK viewers can expect many other promotions and prizes.”
It added: “Founded in 2017, Stake.com is one of the leaders in its industry, with more than 30 billion transactions annually, representing more than five percent of global Bitcoin transactions.”
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Likewise, Stake’s PR puff for its sponsorship of Everton FC is replete with references to Stake.com (notably “.uk.com”).
In at least one case we know of, the cavalier approach to crypto-gambling VPNs in a country where it should be illegal has had serious consequences for the business and the person it works for.
A UK forex trading house is on the brink of bankruptcy – and is set to sue Stake to recover its losses. A prominent London law firm is preparing a case with a letter claiming that the Melbourne-based company accepted 350k in the cryptocurrency Ethereum as the basis of the theft. The company hired a trader who was a gambling addict and he spent the company’s money on Stake.com without permission. The £350,000 valuation is based on the market price of Ethereum at the time the loss was recorded, and the company in question is seeking the return of the lost Ethereum, not the equivalent value of the official currency, according to the letter. The lawyer said
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