Stake.com, a cryptocurrency operator, has recently received authorization to launch its online casino and sportsbook in Peru as part of its expansion into regulated markets in Latin America. This marks Stake’s second regulated market in the region, following its acquisition of Betfair Colombia in 2023. The company has appointed Jennyfer Escobar, a former Boylesports growth manager, as the country manager for Peru to lead its online gaming efforts in the nation. Diana Otalora, Stake’s general manager for Latin America, expressed the company’s commitment to providing top-notch entertainment to Peruvian customers and expanding its presence in the region.
In another development, KTO, led by CEO and founder Andreas Bardun, is aiming to capture a 10 percent market share in Brazil. The company applied for a license on August 5 and has been operating in Brazil since 2019. Despite facing tough competition from industry giants like Bet365, Betano, and Betfair, KTO remains optimistic about achieving its market share target. Bardun emphasized the company’s humble beginnings and its ability to compete with larger players in the Brazilian market, instilling confidence in KTO’s capabilities.
Furthermore, Brazil’s constitution and justice committee (CCJ) of the chamber of deputies recently approved a bill that seeks to impose stricter penalties on individuals involved in match-fixing. The current penalties include a prison term of two to six years and a fine for match manipulators. The proposed bill, which would amend Brazil’s General Sports Law, aims to increase the penalty for those serving as referees, players, coaches, bettors, or agents involved in match-fixing. It also introduces a prison sentence for individuals soliciting or recruiting others to engage in match-fixing activities.
On a different note, Colombia’s online gaming market experienced significant growth in the second quarter, reaching COP10 billion ($2.5 billion). The government attributed this growth to the online gaming sector, which played a crucial role in boosting the country’s national gross domestic product (GDP) by 2.1 percent during the quarter. According to Marco Emilio Hincapié, president of Colombian gambling regulator Coljuegos, sports betting accounted for 47 percent of the total gross gaming revenue (GGR) in the country in Q2. Piedad Urdinola, director of DANE, highlighted the impact of major sporting events like the Copa América on Colombia’s economy, underscoring the significance of the online gambling industry in driving economic growth in the country.
