Stake Eyes LatAm Push After Mexico Launch

Stake has launched in Mexico and is actively targeting further Latin American markets, with LatAm General Manager Diana Otalora identifying the region's sports culture and accelerating digital adoption as the primary drivers, according to iGaming Business.

Why It Matters

Latin America represents one of the few high-growth regulated frontiers left in global iGaming, and Stake's move signals that crypto-native operators are no longer ceding the region to legacy sportsbooks. Mexico alone counts over 130 million people, with mobile internet penetration rising sharply — Statista placed smartphone adoption above 70 percent as of 2024. For crypto bettors and affiliate partners, Stake's expansion creates new licensed touchpoints where previously the operator had limited formal presence. Competitors including Betano and Bet365 have already committed significant capital to LatAm; Stake's entry raises competitive pressure on player acquisition costs and bonus structures across the board.

Context

Stake, co-founded by Ed Craven and Bijan Tehrani, built its brand primarily through crypto wagering and high-profile sponsorships — including a deal with the UFC and a shirt sponsorship with Everton F.C. (the latter ended in May 2023 following Premier League scrutiny). As of early 2025, the operator holds licenses in several jurisdictions including Curaçao and Ontario, and has pursued regulated market entry as global compliance expectations tighten around crypto gambling platforms.

What's Next

Otalora indicated that Mexico is a stepping stone rather than a final destination, with additional LatAm markets under evaluation — Brazil's newly regulated market, which opened its licensed framework in January 2025, is the most logical next target given its scale. Watch for licensing announcements or partnership deals in Brazil before the end of 2025.

---

Gambling involves financial risk. Please bet responsibly.