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Alfa Romeo F1 Team Stake driver Zhou Guanyu of Team China drives as we look at Stake's desired expansion into Canada
Alfa Romeo F1 Team Stake driver Zhou Guanyu of Team China drives during the Sprint Race of the 2023 United States Grand Prix at Circuit of the Americas. Photo by: Jerome Miron/USA TODAY Sports.

Stake, an online sportsbook and casino operator, is making some moves toward becoming one of the best sportsbooks in Canada. The company is under the umbrella of Australia-based Easygo and has backing from global sports teams and celebrities, including Canadian rapper Drake and Indian-Canadian rapper Karan Aujla.

Easygo recently announced that Kris Abbott, formerly of Betano and Coolbet, has been appointed the country manager for Canada. In a statement to Covers, Abbott confirmed that "the company's next big foray is to move heavily into regulated spaces."

About Stake

Stake - through and - is an online sweepstakes casinosports betting site, and lifestyle brand. The company reached a deal with Stauber Motorsport AG in January for the interim naming rights of the F1 team as it continues its growth.

At the time, co-founder Edward Craven said the deal was “crafted with the aim of keeping the fans front and center – by bringing a fresh perspective on the intersection of sports and entertainment."

It began moving into regulated spaces last year when it secured a license in Colombia by acquiring Betfair's assets there and has begun to work on other industries. Joining the Ontario sports betting market will be a big step toward entering the relatively new and growing Canadian sports betting scene. 

If it hopes to disrupt the established Ontario sports betting apps and Ontario online casinos, the company will want to be included in our list of the best Canada sportsbook promos.

The company's website now directs residents of Canada's most populous province to a page with a "Coming 2024" banner. Whether the company is able to meet regulations and get all of its ducks in a row before the end of the year remains to be seen. 

What needs to change 

"The security is going to be high on the brand," Abbott stated. That's not just from the bettor but also from the regulators. While Stake is a huge name in crypto games, Ontario has a ban on cryptocurrency in the gaming space, so the company will need to shift in a different direction. It has reported enlisting help to ensure it complies with the province's rules. 

The company, which may also be eventually eyeing the Alberta sports betting and iGaming markets once they launch, will need to cease all ties to unregulated entities in the space. While the details of a possible Alberta market are yet to be sorted, it's expected to be very similar to the Ontario scene. A smooth transition for established operators is anticipated. 

“There's a couple of winners in the market right now, and there's a whole lot of losers," Abbott said. "And I think Stake has an opportunity to be a winner.”