Stake.com Donates $1M to Humanitarian Efforts in Ukraine

Stake.com has become the latest gaming operator to condemn the violence in Ukraine conducted by the Russian armed forces. The company has donated $1 million or 25.63 bitcoin to victims of the war in the country and has thus joined a global humanitarian relief effort designed to help the refugees of the conflict.

Ukrainians Suffer as Gambling Industry Rallies to Help

According to the United Nations, there are already 2 million people who have been displaced because of the war. This comes amid the efforts by Gambling Industry for Ukraine, which is seeking to raise $333,000 for people who have suffered from the war.

Commenting on the donation, Stake co-founder Ed Craven said that the company stood with Ukraine in those trying times and regretted all the innocent people involved in the conflict. Craven added:

“Our hearts go out to all those innocently involved in this tragic conflict. We hope this contribution will go far to aid and support the brave and resilient Ukrainian people.”

Stake co-founder Ed Craven

The money donated by Stake.com will hopefully help to alleviate some of the humanitarian crisis that is forming in the border states that are accepting refugees right now. Stake.com has been one of the most prominent gaming companies to join in the support of Ukrainian citizens unfairly affected by the war.

The company, though, made no statement whether it would continue to collaborate with any Russian parties. Many companies have decided to not only donate but also cut ties completely with Russian and Belarusian representatives, companies, or entities. Belarus is the co-belligerent country in the conflict, which has been assisting Russia with logistical help throughout the now three weeks of the war.

Parimatch Tech, a company with strong traditions and presence in the CIS region, said it would completely sever ties with Russian and Belarusian entities. Clarion Gaming took a similar decision which was met with some criticism but was praised by most industry peers as the right call.

More Companies Condemning Russia and Aiding Ukraine

Genius Sports and Bet365 posted terse messages that firmly condemned the invasion of Ukraine and Genius Sports went so far as to use the hashtag #standwithukraine to demonstrate its solidarity with the unjust invasion. Russia is close to a national default with over 400 international companies that have left the company since the beginning of the conflict on February 24.

Put in international isolation, Russia would need years to come close to recovery as its economy is preparing to face a downturn no economist can accurately predict or is even capable of theorizing about. In the meantime, Ukraine needs more humanitarian aid, and Stake.com will hopefully not be the last gambling industry to help.