Jessie Sale
November 9, 2023
Latest News, South America, Sportsbook
Stake.com has announced its entry into the Colombian market through the acquisition of Betfair Colombia and its licence, which has been approved until 2025.
This marks a significant milestone in the online casino’s expansion strategy in Latin America and its commitment to delivering ‘top-tier entertainment’ to Colombian players.
Brais Pena, Chief Strategy Officer at Easygo – the operating company of Stake.com – commented: “Expanding into the Colombian market is a strategic decision that aligns perfectly with our vision for growth and innovation.
“Colombia’s position as the first regulated market in LatAm, 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.”
In detail, Stake.com will be utilising its technology, user-friendly platforms, and extensive range of partnerships – e.g. with the UFC, Sergio Aguero, Drake, and the Alfa Romeo Formula 1 Stake team – to ‘revolutionise’ the Colombian gambling industry.
“We view the Colombian market as a pivotal entry point for our Latin American expansion,” Pena continued. “We are committed to contributing positively to the local economy, fostering innovation, and delivering exceptional entertainment value to our customers.”
Stake also highlighted that its entry into Colombia leverages the country’s advanced status and key geographical location, acting as a gateway to the broader Latin American market.
Various eyes across the global gambling sector are currently locked on Latin American opportunities, with Brazil set to launch a federally regulated framework for betting, ushering in what will be one of the world’s biggest national markets.
The acquisition of Betfair Colombia, combined with the substantial market size, looks to provide Stake with a strong foundation as it prepares to introduce its own betting and gaming products to the region.
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