I distinguish two different kinds of practical stakes associated with propositions. The W-stakes track what is at stake with respect to whether the proposition is true or false. The A-stakes track what is at stake with respect to whether an agent believes the proposition. This poses a dilemma for those who claim that whether a proposition is known can depend on the stakes associated with it. Only the W-stakes reading of this view preserves intuitions about knowledge-attributions, but only the A-stakes reading preserves the putative link between knowledge and practical reasoning that has motivated it.