Reclaim Stake losses in Austria

Stake in Austria: no licence, losses reclaimable

Stake (operator Medium Rare N.V., Willemstad, Curacao, licence OGL/2024/1451/0918) does not hold a licence under the Austrian Gambling Act. Gambling losses of players in Austria are therefore recoverable from the provider under civil law in many cases, even where deposits were made in Bitcoin, Ethereum or other cryptocurrencies.

Stake has been on the market since 2017 and is among the largest crypto casino and sports betting platforms. The contracting party for players outside the USA is Medium Rare N.V., with its registered office at Seru Loraweg 17 B, Willemstad, Curacao. The platform offers casino, sports betting, poker and crypto-native game modes. Deposits are predominantly made in Bitcoin, Ethereum, Litecoin, Solana, USDT and comparable cryptocurrencies.

What a reclaim with Stake means

Crypto reconstruction, our focus with Stake: Stake settles in a crypto-native way. We analyse your wallet transactions and the on-chain history of the deposits and convert every movement into euros at the documented daily rate. The procedure is established before the Austrian courts. This proves the actual loss over the entire period, even if you no longer have all transactions to hand.

Casino and poker losses: Without an Austrian licence, the contract with Medium Rare N.V. is void and the stakes are reclaimable. Crypto stakes are treated legally in exactly the same way as classic casino money.

Betting losses: Sports betting is legal in Austria. A reclaim is only possible through partial legal incapacity under Section 865 Austrian Civil Code.

Legal basis: Anyone who loses money at a provider without an Austrian licence has paid without a valid contract and can reclaim the stakes. The Austrian Supreme Court (OGH) most recently affirmed this recoverability in its decision 6 Ob 31/24p. There are thirty years to pursue the claim (Section 1478 Austrian Civil Code), so even older losses are usually still enforceable. The fact that Stake’s terms choose the law of Curacao makes no difference: the Court of Justice of the EU clarified in case C-77/24 that such a choice of law does not apply against consumers. The claim is filed in Austria and decided under Austrian law.

A claim against a Curacao company is more demanding in the proceedings. The company’s ability to pay makes enforcement easier in the event of success, while on the other side a professional defence is to be expected. We decide in the initial consultation based on the amount of the losses and the prospect of actually being able to enforce a judgment.

How a reclaim with Stake works

1. Enquiry with a rough estimate. You contact us with your approximate loss and the cryptocurrencies you used at Stake. A rough estimate is enough, you do not need to know the exact amount.
2. Free initial assessment. We review your case and get back to you with an initial assessment of the prospects. This assessment is free of charge for you.
3. Contract and start. If the assessment is positive, you receive all the information and the contract from us to begin reclaiming your losses. For the reconstruction you provide us with your wallet addresses and any exchange statements, from these we determine stakes and payouts over the entire period.
4. Cooperating lawyers handle the proceedings. Experienced cooperating lawyers conduct the proceedings, as a rule at the court responsible for you in Austria. They support you from the outset and answer all your questions. You never have to travel to the country where Stake is based, namely Curacao. In most cases, however, you do appear at your competent Austrian court for the hearing.
5. Serving the claim. It typically takes six to nine months until the claim has been served at Stake’s registered office in Curacao and the hearing takes place.
6. The hearing. A hearing in Austria is not an interrogation, it takes place in a matter-of-fact atmosphere. The image of court proceedings known from US films does not apply to Austrian courts, where matters are handled objectively. The cooperating lawyers are at your side throughout the proceedings.
7. Payment and enforcement. If the proceedings end in your favour, payment usually still takes some time, because the defendant casino tends to use up all the deadlines the legal framework allows. If payment then fails to arrive, the cooperating lawyers pursue enforcement, known in Austria as Exekution, at Stake’s registered office in Curacao.

We conduct the litigation at our cost, no upfront payment for lawyers applies to you. If successful, R. M. Prozessfinanzierung GmbH retains 45 percent of the amount obtained, and the remaining amount goes to you.

Player protection and help

If you have the feeling that you can no longer control your own gambling behaviour, you can find anonymous advice and concrete points of contact at the help services of the Federal Ministry of Finance. This help is independent of any reclaim.