People do range stake, and you can do well. Make sure to use high DPS range weapons, rune knives/obby disks for no arm, cxbow for arm, and morrigans for specs. Not 100% sure on those but I think those are the highest DPS weapons. Advice: constantly watch out for scams, a third of the people staking right now will try to cheat you by manipulating the rules, check and double check them. Always look up the stats of your opponents to double check if they are worth staking. You make your profit margin by staking only where you have an advantage, otherwise it's mostly lucky.