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Ed Craven, the Australian billionaire behind the Stake cryptocurrency casino, and his business partner have quietly built a stake in ASX-listed online bookmaker PointsBet in an attempt to establish a foothold on the local wagering market.

The undisclosed investment was made through EasyGo Gaming, and according to the Australian Gambling Review, the amounts were about 4.2% of the company's shareholder register. Ed Craven and Bijan Tehrani are the owners of Stake, the famous crypto casino and sports betting website.