Online casino and sports betting site Stake has announced its entry into the Colombian market through the strategic acquisition of Betfair Colombia and its license, which has been approved until 2025. According to the company, this deal represents a major step forward in its strategy to expand in Latin America.
“Expanding into the Colombian market is a strategic decision that aligns perfectly with our vision for growth and innovation,” said Brais Pena, Chief Strategy Officer at Easygo, Stake’s partner company.
“Colombia’s position as the first regulated market in Latin America, coupled with its stable environment and robust entertainment industry, makes it an ideal destination for Stake’s expansion, with the intention of being one of the dominant players in the market in two years“
Stake says the strategic vision underscores its commitment not only to entering the Colombian market but also to establishing itself as a major player in a relatively short period of time, further consolidating Colombia’s status as a hotbed of innovative and dynamic foreign investment.
Stake promises to bring to Colombia cutting-edge technology, user-friendly platforms and an extensive range of partnerships, including being the Latin American betting partner of UFC, and a line-up of renowned brand ambassadors such as Argentinian footballer Kun Aguero, rapper Drake, and the Alfa Romeo Formula 1 Stake team.
Colombia will serve as Stake’s operational base for its expansion throughout Latin America. The company has already secured market access in Mexico and Paraguay through agreements with local operators and has expressed interest in future regulated markets in Peru and Brazil.
Stake’s entry into Colombia takes advantage of the country’s advanced status and geographical location, acting as a gateway to the wider Latin American market. Stake says the acquisition of Betfair Colombia, combined with the substantial size of the market, provides the company with a solid base, facilitating an integration of operations and experience.
“We view the Colombian market as a pivotal entry point for our Latin American expansion,” Brais Pena added. “We are committed to contributing positively to the local economy, fostering innovation, and delivering exceptional entertainment value to our customers.”