Stake Brazil Receives Permission to Operate in Brazil

As part of its strategy to provide gaming content to Brazilian players, Stake will open an office in Sao Paulo and plans to hire a local manager. This approach has already been successfully implemented in other Latin American countries. Stake also noted that the company has several partnerships in Brazil, including a collaboration with Serie A’s Juventude Football Club and the UFC, where the company works with famous fighters such as Alex Pereira and Alexandre Pantoja.

Outside Brazil, Stake’s list of partners is also quite impressive. This year, the company signed deals with UFC Asia, responsible gambling non-profit BetBlocker, and Hub88, giving Stake exclusive access to a portfolio of games from over 120 studios.

It is important to note that the online gaming market in Brazil will start operating on January 1, 2025.

Also earlier this year, Stake became the title sponsor of the Sauber racing team, which relaunched as the Stake F1 Team. Gambling Insider was present at the unveiling of the team’s new car in February. However, the sponsorship has faced challenges, especially at races in countries where Stake does not have a license. For example, in August, the Dutch Gaming Authority (KSA) demanded that the team not advertise Stake during the Dutch Grand Prix in Zandvoort.

So far, around 200 operators have applied for a license from the Prize and Betting Secretariat (SPA). Although the application deadline expired on October 1, applications continue to come in and as of early October, 93 operators have been accepted and are allowed to operate during the transition period in the Brazilian betting market.

The fully regulated market will begin operating from the beginning of next year