Stake has obtained a license to operate in the Province of Buenos Aires, Argentina, granted by the Provincial Institute of Lottery and Casinos. This development, announced in June 2026, allows Stake to extend its sportsbook and casino offerings to Argentina’s most populous province, which encompasses nearly 40% of the country’s population. The strategic move is significant, given that Argentina’s total gambling gross win reached $5.03 billion in 2025, positioning the market as the 23rd largest globally for Stake.
This licensing initiative follows Stake’s recent entry into the Mexican market earlier in the month, reflecting the company’s ongoing expansion efforts throughout Latin America. Stake’s LatAm general manager, Diana Otalora, remarked that Argentina represents a “natural next step” in the company’s regional growth strategy, emphasizing the country’s vibrant sporting culture and widespread digital adoption as key attractions. Otalora stated that Stake aims to establish itself as a leading entertainment brand in the region, offering its services through the local platform Stake.bet.ar.
In Argentina, gambling regulation is decentralized, with each province responsible for its own licensing framework. While most of the 23 provinces have regulated online gambling, the city of Buenos Aires remains autonomous. This fragmented regulatory environment stems from Argentina’s constitution, which does not delegate gambling regulation to the federal level under Article 121. Despite this, there is a push within the industry for a unified federal framework that would streamline operations and allow for nationwide market access.
Ramiro Atucha, founder and CEO of Atucha Strategic Advisory, highlighted the complexities faced by international operators entering Argentina due to the state-by-state licensing requirements and the necessity of partnering with local entities. Atucha noted that although federal regulation is absent, there has been significant progress in institutional coordination. A local lottery official explained that cooperation with national entities like the National Communications Authority (ENACOM) and the Central Bank of the Argentine Republic (BCRA) helps address challenges such as illegal websites and payment methods.
The acquisition of the Buenos Aires license marks Stake’s fifth regulated market in Latin America, joining existing operations in Colombia, Brazil, Peru, and Mexico. This expansion is part of a broader strategy to enhance Stake’s presence in the region ahead of major events such as the FIFA World Cup. Stake’s localized approach to each market is tailored to the unique regulatory environments, user behaviors, and sports preferences in Latin America. Otalora emphasized that this tailored strategy is crucial, noting that understanding and adapting to the nuances of each market is essential for the company’s success in the region.
Looking forward, Stake’s entry into the Buenos Aires market signifies an important step in its Latin American expansion, with potential regulatory changes on the horizon that could further impact the landscape. The company will continue to monitor regulatory developments and adjust its strategy to capitalize on emerging opportunities while navigating the complexities of operating in a fragmented regulatory environment. The focus remains on maintaining compliance and strengthening local partnerships to ensure sustainable growth in this dynamic market.
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