How UK gambling safeguards fail to defend online punters
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An Observer investigation finds Stake.com, the Australian sponsor of Everton, could be benefiting from weak controls designed to prevent British customers betting with cryptocurrency.
By Rob Davies and Matei Rosca
When Everton FC’s players ran out to face bitter Merseyside rivals Liverpool last month, their shirts were emblazoned, courtesy of a £10-million-a-year sponsorship deal, with the name Stake.com.
Until recently an obscure online betting firm, Stake.com, which specialises in controversial cryptocurrency gambling, has followed traditional bookmakers in hitching itself to the world’s most popular game. And football was a keen recipient of new sponsorship revenues.
Stake has splashed plenty of cash elsewhere, too. A partnership with platinum-selling Canadian rapper Drake means his fans can watch live video streams of him gambling millions of dollars at a time. Stake has also spent big on sponsorship deals with Ultimate Fighting Championship (UFC) and Formula One driver Pietro F...
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