Stake.com founder Ed Craven splashes $80m on Toorak mansion

Aerial images show the scale of a record-breaking mansion that’s been bought by a 26-year-old cryptocurrency mogul.

Crypto King Edward “Ed” Craven has just laid down a record $80m for a Melbourne property – the most ever paid for Melbourne real estate – yet few people know his name, let alone how he makes his money.

The 26-year-old is the shareholder of video game developing company Easygo Gaming, but it’s believed that his involvement in setting up an online cryptocurrency casino is the secret to his fortune, which allowed him to foot the bill for the record price of the 7187sq m property in Toorak.

In 2013, Mr Craven, along with business partner Bijan Tehrani founded Easygo Gaming in a small Collins St office in Melbourne.

The company’s mission statement, includes buzz statements like “create social, innovative and transparent gambling experiences to change the way people perceive the online gambling industry”.

The site boasts more than 535,000 registered players in more than 169 countries.

Crypto King Edward Craven bought the property for $80m. Picture: Jake Nowakowski

Mr Craven founded Easygo Gaming. Picture: Jake Nowakowski

The 7187sq m property at 29-31 St Georges Rd, Toorak. Picture: Jake Nowakowski

The property has sold for a state record.

But in 2017, Mr Craven is understood to have co-founded Stake.com, rumoured to be the world’s largest privately owned cryptocurrency-friendly online casinos.

Australian users are banned from using the site due to strict regulation, but its use has flourished internationally.

The site offers sports betting and casino games, like roulette and blackjack, but is also rumoured to have been involved in betting on anything, from the UFC to the US presidential election.

Craven’s other Toorak property.

The business has been an extreme success, and some industry insiders say it's a company now worth more than $1bn.

It’s also a brand that’s increasingly popping up in the mainstream.

In 2021, a sponsorship deal was struck with Premier League club Watford Football Club in the UK – rumoured to be worth $9m.

Despite Mr Craven’s success, he remains a mysterious figure on the Australian and international business scene.

But after his recent foray onto the real estate scene, he may be spotted more around town.