Private messages between billionaire businessman Ed Craven and a young Swedish big spender have revealed the inner workings of a fast-growing crypto-gambling empire — and the personal struggles it left behind.
Teen High-Roller’s Chats with Casino CEO Reveal Troubling VIP Relationship
The exchanges show a four-year connection that started in 2020 when a teen called Chris showed up on Stake as a big-spending new client. His early splurges put him among the site’s most valuable players, giving him direct access to Craven, who often gave out bonuses, personal help, and special treatment, reported Australian media outlet ABC. What began as a friendly chat soon uncovered a much more complex situation.
During their talks, Chris often spoke about big money losses, struggling to manage his gambling, and trying to cut himself off from online betting. He talked about times when his bets on blackjack and slots got out of hand, and told Craven he had tried to limit his access to certain games or block himself. While Craven sometimes warned Chris to be careful, he kept giving VIP perks, helping with affiliate payments, and offering targeted incentives that pushed Chris to gamble more.
Streamers Propel Stake’s Global Rise While Players Battle Gambling Addictions
The messages also reveal how gambling and promotion became linked at the peak of Stake’s growth. Chris had already gained an online following through crypto trading and streaming. The company urged him to include referral links in his content. He earned an ongoing cut of wagers from each new player he brought in. This setup reflected a wider system that emerged during the pandemic. At that time, crypto casinos with little regulatory oversight turned influencers into valuable marketing tools.
At the same time, Stake was drawing worldwide attention. The company put money into high-profile sponsorships, got big-name streamers on board, and even teamed up with global stars who showed off huge bets to millions of viewers. All this helped push the platform to the top ranks of the gambling world, even as Chris and others fought against their own addictive habits.
By 2024, Craven and Chris interacted through official VIP handlers, but Chris kept losing money and asking for partial refunds. In the end, Chris sued to get back some of the cash he lost gambling, saying the company took advantage of his addiction. Stake disagrees, arguing Chris was an experienced gambler who sometimes made money on their site.
The lawsuit is not over yet, but the messages show a hidden world where huge amounts of money change hands super fast and where it is hard to tell the difference between fun, influence, and harm.