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Stake Casino Canada to Enter Ontario's Regulated Market
Ontario is the first province to launch a regulated gambling market, attracting the attention of popular and emerging operators in the market, and Stake Online Casino is rumoured to be among them, too.
This page contains everything you need to know concerning Stake’s possible entrance into the Canadian regulated market.
Read on to learn about Stake.com, possible changes should it launch in Ontario, and alternative operators in the market.
What Is Stake Casino?
Stake Casino is a crypto-friendly betting site founded in 2007. It also has a casino and an eSports betting section.
Is Stake Casino Legal in Canada?
Unlike brands like Sports Interaction or Bet99 which have an iGO licence, Stake operated in the country as an overseas operator under the Curacao eGaming license. This means that Stake.com is an operator without an official license in Canada.
Was Stake Banned in Ontario?
The AGCO set October 31st as the deadline for unregulated brands to adapt their betting practices in order to enter Ontario’s regulated market.
Those that didn’t do it in time had two options: withdraw from Ontario, or continue offering their services illegally.
Stake opted for option number 1, and has therefore not been available in Ontario since October 30th.
However, the brand has already launched a Stake.ca website, where it claims to be coming to Ontario in 2023.
Until the brand has an iGO license, bettors won’t be able to access the new Stake.ca casino, as it won’t be working.
We’ll make sure to keep an eye on any developments and news and keep you updated, so you know as soon as Stake is back in Ontario.
Will Existing Players Have to Start Over on Stake.ca?
While we can’t know this for sure until the new website is launched, previous experience with other sites being legalized tells us that existing Stake players are likely to have their data and ranks transferred to the new domain.
Once this has been confirmed we’ll be sure to let you know!
Licensed Alternatives to Stake Casino
Stake Casino is allegedly awaiting its Ontario license, and it’s not the only one. More betting operators, such as PowerPlay also have their eye on the newly-legalized market.
While we wait for them to become legal, there are a variety of alternatives already licensed and regulated in Ontario.
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Why do We Recommend These Operators?
Apart from being legal in Ontario, many of these brands such as LeoVegas and PlayOJO are available in other provinces as well.
They have up to 3000+ games to choose from and are completely safe, which is why they’re great alternatives to unregulated operators.
Will Stake Casino be Available in Other Provinces?
You Should Know!
Ontario is currently the only province that has opened the market to private gambling operators.
So if approved, Stake Casino will only be fully legal for players in the province.
Gambling and betting enthusiasts in other provinces will probably have to wait a while longer.
Stake Casino Overview
The site accepts a variety of cryptocurrencies including Bitcoin, Litecoin, Ethereum and Tron, among others.
Most interestingly, they have a new function that enables users to buy cryptocurrencies directly from the website using traditional fiat currencies.
This crypto site has its downside as well, with the biggest limitation being:
- Payment methods limited to crypto.
Stake Casino is also committed to associating and working with young and energetic brand ambassadors, with Drake recently becoming its official spokesperson.
The partnership with Toronto hip hop king seems like a timely engagement, especially at such a crucial moment for gambling in Canada.
The brand is also known for working with several popular UFC players, such as Francis Ngannou, Alexa Grasso and Marlon Vera, renowned footballer Kun Aguero, and is the sponsor of Watford FC.
Will There Be Any Changes to Stake Casino?
With the brand entering a newly regulated market, Stake Casino Canada may be different from the offshore site.
We expect a few things to change, though most of the main features may remain untouched, so that players will have their share of excitement.
FAQs
How legit is Stake casino?
While Stake is a legit online casino, for now, it is not a legal option for Canadians. After the recent AGCO decision, Stake withdrew from Ontario completely until it receives an iGO license.
Where is Stake allowed?
Stake is allowed wherever the Curaçao gaming license is accepted. That’s not the case for Canada. For now, Stake doesn’t have the iGaming Ontario license necessary to legalize its presence there, which is why the brand is no longer available to Ontarians.
Will Cryptocurrencies still be accepted at Stake?
The site may not accept cryptos in regulated provinces, as the current AGCO provisions don’t recognize cryptocurrency as a legal tender.
The website is likely to launch with fiat on banking options similar to other regulated countries like the UK.
Nevertheless, it’s unclear whether this will apply to users in unregulated provinces in Canada.
Will Stake still offer esports bets?
Yes, eSports is another major feature at Stake.com that will remain unchanged as Ontario regulations don’t have restrictions on the eSports betting markets.
The regulator supports eSports, so Ontarians should expect to enjoy the same at Stake.com.
Can I still play all my favourite games at Stake online Casino?
Though players will still have a decent variety of games to choose from, it’s uncertain whether all the games will be available.
Stake Originals are crypto-bound and may be discontinued in Ontario once the brand is available in this province.
It’s also unclear whether players in other Canadian provinces will have access to Stake Originals.
Will the minimum deposit amount be affected?
Likely. The current minimum deposit is any crypto worth $5, but this may change without cryptocurrencies among the options.
The minimum deposit cap will highly depend on fiat payment provider support at Stake Casino Ontario.
Is Stake a Canadian company?
Stake isn’t a Canadian company. The brand comes from Curaçao and is currently in the process of acquiring the license necessary to operate legally in Canada.
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