Stake, an online betting operator, has launched its services in Mexico, just ahead of the upcoming World Cup. The move represents a significant step for the company as it continues to pursue strategic growth in the Latin American market. This expansion comes as Stake seeks to capitalize on evolving regulatory frameworks across the region, aiming to extend its reach to new territories.
The company’s entry into the Mexican market is facilitated under the intermediary Uno Capali’s licensing agreement with SEGOB, Mexico’s gambling regulatory authority. This development follows Stake’s earlier launches in Colombia, Peru, and Brazil, which have been operational since 2023. Diana Otalora, Stake’s General Manager for Latin America, indicated in a discussion with iGaming Business that additional Latin American markets are under consideration as the company focuses on its long-term vision for the region. “Latin America is a strategic priority for us, and there are other markets we’re actively monitoring,” Otalora stated.
Stake’s approach to its Latin American ventures emphasizes localization, recognizing the cultural diversity and varying regulatory environments across the continent. This strategy is considered essential to effectively serve the distinct needs and preferences of each market. “Every market is different, which makes Latin America very special,” Otalora explained. “The regulatory environments differ, user behavior differs, sports preferences differ. That nuance is what makes regional experience genuinely valuable, and it’s why we approach each market slightly differently.”
The decision to enter the Mexican market was influenced by the country’s vibrant sports culture, large population, and increasing digital adoption rates. Jarrod Febbraio, Stake’s Director, described Mexico as the “natural next step” in their regional expansion efforts due to its long-term potential. Entering the market ahead of the World Cup, which Mexico will co-host, aligns with Stake’s strategic timing to maximize market impact.
Despite the focus on the World Cup, Stake’s plans for Mexico have been in place for some time. Otalora emphasized that the country was already identified as a priority market. “The World Cup created a compelling moment to move, but Mexico was already a priority – the long-term opportunity here is significant and we’re excited to bring our products to Mexican customers,” she noted.
Stake’s broader strategy frequently involves sponsorship deals to bolster brand presence. The operator currently partners with English Premier League club Everton and previously served as the title sponsor for Sauber’s F1 team during the 2024 and 2025 seasons. Such partnerships are expected to play a key role in Stake’s efforts to increase brand awareness in Mexico, leveraging the country’s rich sporting culture. “Sponsorship has always been central to how we build brand presence in markets where we operate,” said Otalora. “We are always interested in activating locally and globally through relevant talent and means.”
As Stake continues to expand its footprint in Latin America, the company is closely monitoring regulatory developments that could influence future growth. The dynamic nature of gambling regulations in the region presents both opportunities and challenges for operators like Stake. Potential regulatory risks, enforcement actions, and compliance burdens are among the factors that Stake must navigate as it explores further market entry.
Looking ahead, Stake’s next steps will involve careful assessment of emerging opportunities in Latin American jurisdictions. The company will likely continue to adapt its strategies to align with each market’s unique regulatory environment and consumer preferences. As regulation evolves, Stake’s ability to remain compliant while capitalizing on new market openings will be crucial to sustaining its growth trajectory in the region.
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