Australian tech tycoons Ed Craven and Bijan Tehrani – the visionary co-founders of cryptocurrency casino Stake.com, recently announced their intentions to increase their investment in PointsBet, an ascendant figure on the global wagering scene.

The announcement, which transpired last Friday, sent tremors through the halls of the Australia Securities Exchange (ASX). The duo revealed they had augmented their PointsBet stake to a staggering 16 million shares, leaping from a 4.2% position at the tale end of December to over 5% of the betting company’s overall shares.

With a bustling sportsbook under its wing, the founders’ wealth of experience and intimate knowledge of the intricate world of sports betting suggest they may very well be considering the PointsBet acquisition, despite refusal to confirm this outright.