Stake is the world’s largest crypto online casino and also the most-searched brand in this category in Austria. The operating company, based in Curacao, has never held a concession under the Austrian Gambling Act. That does not change because deposits and play take place in Bitcoin or other tokens: anyone who lost money at Stake from Austria can recover those losses under the settled case law of the Austrian Supreme Court on unjust enrichment. A practitioner’s perspective, with an honest look at enforcement.
The largest crypto casino in the world
Stake launched in 2017 and within a few years became the best-known crypto gambling brand in the world. In Austria the brand accounts for around 23,260 searches per month, more than any other crypto casino. The operator became known above all through its marketing: title sponsorship of a Formula 1 team and a Premier League club, advertising partnerships with global stars such as the rapper Drake. Payments are processed primarily in cryptocurrencies, that is Bitcoin, Ethereum and other tokens.
Stake is operated by a company based in Curacao, a small island state in the Caribbean that lies outside the European Union. This matters for the legal assessment and is taken up further below. The formal master data on the operator, that is the operating company, licence and registered office, can be found in the provider profile on Stake. What is decisive for you as an affected player is a single fact: this operator has never held a concession under the Austrian Gambling Act. Its offer to players in Austria is therefore prohibited gambling.
Crypto stakes are not without legal protection
There is a persistent misconception that losses in cryptocurrencies sit in a legal grey area and cannot be recovered. That is not correct. The civil law assessment follows exactly the same line as for a classic online casino settling in euros.
Gambling contracts of a non-concessioned operator with players in Austria are void. The stakes were paid without legal ground and are to be reclaimed under the rules on unjust enrichment (Sections 1431 ff Austrian Civil Code), reduced by any winnings paid out. The Austrian Supreme Court confirms this line in settled case law, most recently in 6 Ob 31/24p. The claim is subject to the general 30-year limitation period under Section 1478 Austrian Civil Code; losses dating back further are therefore in principle still enforceable, though a case-by-case review remains necessary. Whether the stake was placed in euros or in a token is irrelevant to the nullity. What is recovered are your crypto assets, and these proceedings call for know-how and expertise. Our firm specialises in the recovery of crypto losses.
The basis is also secured under EU law. By judgment of 16 April 2026 in case C-440/23, the CJEU clarified that national online gambling bans are compatible with EU law, and expressly recognised players’ recovery claims as admissible. One point concerns operators like Stake in particular: the general terms and conditions regularly stipulate the application of foreign law, in the case of a Curacao company typically the law of Curacao. Following the CJEU judgment of 15 January 2026 in case C-77/24 (Wunner), such a choice of law is irrelevant in a consumer relationship; the law of the state of residence applies. Proceedings are brought under the Brussels Ia Regulation at the consumer’s home court in Austria, and the matter is assessed under Austrian law. We have set out the essentials of recovery on the recovery page.
Proving crypto losses
With losses in cryptocurrencies, the evidence differs from a classic casino in one respect: there is often no bank transfer from which the deposits can be read off. That is not an obstacle but a different trail. Token transactions are permanently stored on the blockchain and can be traced through the wallet history.
What matters most for you is one thing: you do not have to do this work yourself. You do not need to request a betting history from the casino or sort through wallet statements. For the initial report, the operator and the approximate total loss are enough. The methodological details of securing evidence for crypto stakes, from blockchain analysis to linking it with the player’s identity, are set out in detail in the article on crypto casinos, recovery and enforcement; they apply to Stake just the same.
Enforcement: an honest look
This is where the decisive difference from a Malta operator lies, and it should be stated openly. As a matter of substantive law the recovery claim against Stake has good prospects; the sticking point is enforcement.
Curacao is not an EU member state. The mechanisms applicable within the Union for the enforcement of judgments, that is the Brussels Ia Regulation, do not apply against a Curacao company. A direct European enforcement procedure is therefore unavailable. That does not mean a judgment obtained is worthless, but the path from the decision to actual payment is more demanding.
There are nonetheless real levers. We know them and have years of experience in the recovery of losses at Curacao casinos.
It is notable that international pressure on Stake is increasing. The withdrawal from the British market in early 2025, regulatory proceedings in several countries and a growing number of consumer claims around the brand family show that the days of undisturbed expansion are over. This development improves the negotiating position of claimants, even if enforcement is no foregone conclusion.
Frequently asked questions
Can I sue even though I only played in crypto tokens?
Yes. For the nullity of the gaming contract and for recovery it is irrelevant whether you deposited in euros or in Bitcoin, Ethereum or another token. What is recovered are the crypto assets. The evidence runs through the blockchain history rather than account statements.
How do I prove my deposits without a casino statement?
Your transactions can be reconstructed through the wallet history and the publicly accessible blockchain data. Linking them to your identity regularly succeeds via the verification data held by the operator. The firm handles this preparation; you do not have to compile anything yourself.
How realistic is enforcement against a Curacao casino?
That is the honest sticking point. Because Curacao lies outside the EU, there is no direct European enforcement route. Realistic levers are a willingness to settle, pressure via European payment service providers, the personal liability of directors and the search for tangible EU-based assets. The economic enforceability is assessed concretely before any action is filed.
What does the initial assessment cost me?
The initial assessment is free of charge. For the report, the operator concerned and the approximate total loss are enough.
What you can do now
For the free initial assessment, the operator concerned and the approximate total loss are enough. You do not have to obtain documents or request them from the casino; the firm handles that entirely. For crypto losses the approximate magnitude is sufficient; the loss amount is worked up as part of the review. The answer comes within a few working days directly from us, the law firm of Dr. Oliver Peschel. We are pioneers in casino recovery with experience since 2019 and thousands of cases successfully concluded. Send an enquiry or first read the recovery process in detail.