‘Stake.com Stole My Idea:’ $580M Lawsuit Dismissed by US Judge

A federal judge in Manhattan has dismissed the case of a Florida resident who was seeking $580 million in punitive damages from the owners of Stake.com, a widely-known online crypto gambling website, on the grounds of jurisdiction.

com attracted users and became one of the biggest online gambling sites in the world, with transaction numbers in the millions.

Christopher Freeman has alleged that his idea has been stolen by Stake.com, the company that Canadian singer Drake is an ambassador for. The company, which is estimated to be worth more than one billion dollars, was founded by Freeman’s childhood friend Bijan Tehrani with Australian Edward Craven. Freeman was an investor and co-founder of PrimeDice, which was a predecessor to Stake.com, as stated in the lawsuit. According to court documents, PrimeDice was an interface with a single dice-game that allowed people to gamble with bitcoin. Reportedly, the platform became one of the biggest online gambling sites with millions of transactions.

PrimeDice

Freeman initially possessed a 20% interest in PrimeDice – he claims it was subsequently diminished to 14% to reward other members of the development team. In 2016, he suggested the concept of a cryptocurrency casino to Tehrani and Craven, but they dismissed it. Some time later, the pair launched Stake.com. They supposedly prohibited Freeman from joining, saying it would require him to relocate to Australia – additionally claiming that it would only deal in traditional currencies. The shock move to Stake.com, a virtual casino with a competing dice game and many other features rolled out by Freeman, caused Freeman to feel deceivingly misled. Tehrani and Craven then reassured Freeman, affirming he still held an interest in PrimeDice. Unfortunately, Freeman’s access to the account was negated and has never been restored.

Singer Drake is the brand ambassador of the incredibly successful Stake.com, which has taken over the crypto gambling industry and sponsored English Premier League team Everton. The Australian Financial Review’s Rich List recently reported that Drake’s estimated net worth is over $1 billion. His success is nothing short of remarkable; impacting social media platforms such as Parallel.

Social Network Parallel

In September 2022, Stake.com released a statement denying the allegations made in the lawsuit, describing them as “internally inconsistent, intentionally misleading, and provably false.” Shortly after, US District Judge Ronnie Abrams dismissed the case due to a lack of diversity of citizenship between parties. Despite this, Abrams allowed plaintiff Freeman to refile his claim or pursue legal action in Australia within 30 days. According to the complaint, Freeman is claiming that Craven and Tehrani took his idea to create an expansive online cryptocurrency-based casino and turned it into the now successful Stake.com, worth billions of dollars. Through several corporate transfers, Freeman was allegedly left with no share in Primedice.

The complaint’s description of the alleged theft of Freeman’s work in the launch of Stake.com is comprehensive; however, its explanation of the court’s particular jurisdiction is inadequate in some important areas.