Stake continues to operate in a gray area in India by allowing INR deposits, which poses significant legal risks for users. Recent reports suggest that two Indian players were arrested for depositing large sums of money on Stake.com, raising serious concerns under anti-money laundering regulations.
Funds are allegedly being transferred to Australia without paying GST, directly linked to operations that involve Eddie and his associates through Gibraltar. This not only jeopardizes the financial safety of users but also puts them at risk of severe legal consequences.
I urge Stake to reassess its practices immediately. Allowing such operations to continue not only tarnishes the company's reputation but also exposes your users to potential arrests and legal repercussions. If these issues are not addressed promptly, I will have no choice but to escalate this matter to the appropriate authorities.
Take this warning seriously and act responsibly before it’s too late.
I want to chime in on that. You say it's a grey area but online betting is legal in India according to google. Stake is mainly a crypto gambling site but of course also offers INR deposits. I don't understand why Indian players are not just gambling in crypto when there might be an issue with the use of fiat, it makes no sense. It might be harder to buy crypto in India since it's also somehow a grey area but it's still a better option than fiat.
Players are depositing on their own risk knowing there might be an issue ( when there are so many reports about it), you can't blame stake for that. They obviously checked all the legal stuff before offering these options, otherwise they wouldn't do it.
I seriously don't understand what you want to achieve with words like: "I will have no choice but to escalate this matter to the appropriate authorities." Is it blackmail? Or you have a different agenda? If you want to do it then just do it because nothing will come from it anyway.