Online gambling operator Stake officially launched in Mexico on Monday, May 4, going live through stake.mx under a permit-based structure overseen by SEGOB, the Ministry of the Interior. The company operates as an agent under a license agreement with intermediary firm Uno Capali, a structure commonly used in Mexico where new federal gambling permits are rarely issued and operators sublicense from existing holders.
Fourth Regulated LATAM Market Ahead of World Cup
The launch lands five weeks before Mexico kicks off the 2026 FIFA World Cup against South Africa at Estadio Azteca, as the country co-hosts the tournament with the United States and Canada. Stake director Jarrod Febbraio called Mexico “an important and exciting market,” framing the entry as a natural extension of the company’s momentum across the continent.
Stake now holds full licenses in four Latin American markets: Colombia, Brazil, Peru, and Mexico. In Brazil, it secured a license from the SPA in February 2025, with marketing deals including football club Juventude and UFC events. Brais Pena, Chief Strategy Officer of Stake’s Melbourne-based technology arm Easygo, previously told SBC Leaders in early 2025 that the company's regulated-market expansion includes fiat-currency operations in Colombia, Italy, and Peru, apart from its crypto-native global business.
Mexico's Shifting Regulatory Landscape
Mexico's online gambling market is undergoing significant regulatory changes. Online gaming revenue surpassed land-based revenue for the first time in 2025. Since January 1, operators face a 50% IEPS special tax on betting turnover, increased from the previous 30% margin. Advertising restrictions are under consideration, with proposals to ban gambling promotions between 06:00 and 22:30. By 2028, Mexico’s online gambling market is projected to reach $4.63 billion, despite an estimated 60% of operators currently running without a federal SEGOB license, according to industry association AIEJA.
Stake's entry positions it to compete against established licensed operators during what is expected to be the largest sportsbook acquisition window in Mexico's history, driven by World Cup fever.