Stake Covers €7M Fee to Relaunch Idealbet Flagship in Italy

Stake.com, one of the leading iGaming brands offering a rich selection of online casino and sports betting options since its launch in 2017, is getting ready for some big changes in 2025. 

Namely, the brand is gearing up to strengthen its foothold in Italy’s reorganized online gambling market. 

The first step of its bold plan has already been taken when the company decided to acquire Baldo Line SRL. 

The latter is a well-known operator behind the Italian sportsbook Idealbet.it. 

Idealbet, Stake’s New Flagship Brand in Italy

The strategic move, aimed at helping Stake expand its influence in the newly regulated landscape, will see the brand control Baldo Line’s online gambling license, which was previously managed by Octavian Group. 

The timing for the acquisition is perfectly aligned with a major shift in the European country’s regulatory framework. 

Starting next year, their Customs and Monopolies Agency (ADM) will require a €7 million ($7.39 million) fee for the renewal of online gambling licenses. Prior to the new rules coming into existence, operators had to pay €200,000 ($219,120) for a permit. 

The newly issued licenses will have a nine-year lifespan. Stake has already paid the new fee, according to AGIPRONews, indicating that it will focus on developing Idealbet as its flagship brand in Italy.

Stake’s vision for Idealbet goes beyond simply acquiring a well-established name. 

The company plans to revamp the brand by incorporating its own technology platform, offering a richer selection of gaming options, and introducing a variety of exclusive games unique to Stake.

Stake to Set Up Local Office in Rome 

Detailing the company’s strategy for Italy, Easygo’s chief strategy officer (CSO), Brais Pena, expressed their excitement about the announced plans for the Italian market. 

Easygo is the Australian powerhouse behind Stake and other fast-growing online brands including Kick. 

To further reinforce its commitment to the domestic market, Stake will also set up a local office in Rome, signaling a long-term investment in the region by expanding its team there. 

This approach is part of Stake’s strategy to adapt its global brand to regional markets around the world, ensuring compliance with local standards while boosting customer experiences.

Delays and Challenges 

The path to launching in Italy, however, has not been without its challenges. The introduction of Italy’s new online gambling framework faced a series of delays due to concerns raised by the Malta Gambling Authority. 

The issues were, however, resolved, and the European Commission eventually gave the green light for Italy’s revised gambling regime. 

Now that the standstill period has passed, the Italian government is ready to implement the fresh set of licensing rules. 

Additionally, the Ministry of the Economy and Finance (MEF) has announced that current licenses will be extended for one more year, up to 31 December, in accordance with Italy’s 2024 budget.

Not Afraid of Competition

Despite strict advertising restrictions in Italy, which could pose challenges for new entrants, Stake is confident in its ability to compete. 

Addressing how the company plans to navigate Italy’s new gambling landscape, Pena explained explained their priority was to make sure that they “operate within Italy’s regulatory framework and provide the best possible experience for players.”

Pena went on to say that by mixing Idealbet’s “established presence” and expanding their team in Rome with “Stake’s exceptional player experience,” they will provide a product meant to appeal to newcomers and retain existing players, even in a “very competitive” market.

One year ago, Stake acquired Betfair Colombia, announcing its entry into Latin America.