Stake plots India gains after rupees payment addition and IPL spike
Crypto-first operator reports more than $100m in wagers on cricket tournament since March on the back of greater localisation efforts
Stake is looking to strengthen its hand in India after enabling deposits in rupees and seeing a swell of activity during this year’s Indian Premier League (IPL).
The crypto-first operator added the rupee payment option ahead of the start of one of world cricket’s most popular competitions, with the currency becoming the sixth fiat option for Stake users.
The Australian firm said it had seen more than $100m (£800,000) wagered on the IPL this season alone.
Alongside the addition of rupee payment option to the site, Stake launched a offer for users that saw winners paid out even if their team lost a match as long as they hit a six during the first four overs.
Stake said this occurred in 63% of IPL matches this year, returning $30m to users.
The 2024 IPL season began in March and is due to conclude with the final on 26 May.
The Kolkata Knight Riders and the Rajasthan Royals are currently neck and neck at the top of the 10-team table.
Jarrod Febbraio, Stake director of commercial, said: “We are constantly striving to improve our product and want to make Stake.com easily accessible to as many players as possible.
“With more than $100m wagered this season alone, the IPL is soaring in popularity, and so is Stake.com.
“We wanted to spice things up for the 2024 season, and this promotion was perfect for our customers who don’t like cricket, they love it,” he added.
Elsewhere, Kindred Group has championed Bengaluru as the “Silicon Valley of India” after opening a tech hub in the state capital of Karnataka.
The Unibet parent company is looking to take its headcount at the hub to 100 employees.