Stake Acquires Betfair Colombia, Prepares to Expand in LATAM

Online gambling and sports betting leader Stake will enter the Colombian market thanks to a new strategic acquisition deal. As announced, the company will acquire Betfair Colombia, securing its license.

The move marks Stake’s foray into the country and is in line with its overall LATAM strategy. Betfair Colombia’s current license is valid until 2025, allowing Stake to establish a new foothold in Latin America. Not only that, but the online casino powerhouse will also be able to capitalize on Betfair’s existing popularity to quickly channel local players toward its products.

Stake will use Colombia as an operational base for further expansions throughout the region. The company already has access to Mexico and Paraguay and is keen on launching in Brazil and Peru as well.  

According to Stake, its new acquisition also underpins its commitment to “providing a world-class betting and gaming experience for Colombian players.” The company promised to leverage its cutting-edge tech, user-friendly platform and key partnerships to provide local gamblers with unforgettable experiences.

The company will also leverage its ambassadorial team, which includes celebrities such as the soccer pro Kun Aguero, the famous rapper Drake and the Alfa Romeo Formula 1 Stake team, to further engage players.

Colombian fans can register on stake.com.co and prepare for the operator’s official launch.

Stake Hopes to Dominate the Colombian Market

Brais Pena, the chief strategy officer of Easygo, Stake’s parent company, said that this expansion is a “strategic decision” that corresponds to his team’s desire to grow and innovate. Pena pointed out that Colombia is a visionary country because it was the first to launch regulated gaming in Latin America. Combined with the stable local environment and flourishing entertainment industry, the country was “an ideal destination” for Stake’s LATAM expansion.

Pena added that Stake hopes to become a dominant player within its first two years of operation.

We view the Colombian market as a pivotal entry point for our Latin American expansion. We are committed to contributing positively to the local economy, fostering innovation, and delivering exceptional entertainment value to our customers.

Brais Pena, chief strategy officer, Easygo

In other Stake-related news, the famous streamer xQc recently provided his fans with insights into his gambling habits, saying that he has wagered almost 3 billion on the platform.

Earlier this year, Stake.com was hit by a North Korea-related cybercrime group, which stole millions of dollars in cryptocurrencies.