Stake Brazil officially authorised as a betting operator

Sudhanshu Ranjan October 10, 2024

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Stake Brazil officially authorised as a betting operator

Stake’s Brazil subsidiary, Stake Brazil Ltda, has been granted authorisation by the Ministry of Finance to operate as a betting platform in the growing Brazilian iGaming market. With Brazil being one of the most promising markets for online gaming, this development sets the stage for Stake to make a significant impact.

Stake’s strategic partnerships

Stake has already established a strong presence in Brazil, thanks to several high-profile partnerships. It has built collaborations with prominent athletes such as UFC champions Alex Pereira and Alexandre Pantoja, as well as a sponsorship deal with the Série A football team Juventude. These partnerships have boosted Stake’s brand visibility in the country, making it a household name among sports enthusiasts.

One of the most crucial elements of Stake’s growth plan in Brazil is the opening of its new office in S?o Paulo. This move will not only create jobs but also ensure that the company has a dedicated team on the ground, enabling it to better navigate the complexities of Brazil’s regulatory framework.

Globally, the brand has forged numerous partnerships in various markets. Some of its most notable partnerships this year include collaborations with the UFC in Asia, BetBlocker, a non-profit organisation promoting responsible gambling, and Hub88, which gives Stake exclusive access to an impressive portfolio of games from over 120 studios.

At the start of 2024, Stake made headlines by becoming the title sponsor of the Sauber F1 team, rebranded as the Stake F1 Team. The sponsorship has drawn global attention, especially with the unveiling of the team’s C44 vehicle in February.

Brazil’s iGaming market

The Brazilian betting market has seen unprecedented growth over the past few years. With over 200 operators applying for authorisations to enter the market, Brazil has become a highly competitive landscape for iGaming businesses.

The authorisation of nearly 93 operators so far, and over 15 more requests made after the 1st of October deadline, indicates a robust process to ensure that only compliant operators are allowed to do business. With the fully regulated market expected to come into effect at the beginning of 2024, this transition period is crucial for operators like Stake Brazil Ltda to establish themselves and comply with the country’s regulations.

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