Crypto betting platform Stake officially launched regulated operations in Mexico on Monday (May 4), with its domestic site stake.mx going live under a permit-based system overseen by the Ministry of the Interior (SEGOB). The company operates as an agent under a licensing agreement with intermediary firm Uno Capali, a common practice in Mexico where new federal gaming licenses are rarely issued, prompting providers to obtain sub-licenses from existing license holders.
Key Takeaways
- Stake began operations in Mexico on May 4 under a SEGOB permit, operating as an agent under a licensing agreement with Uno Capali.
- Mexico becomes Stake's fourth fully regulated LATAM market after Colombia, Brazil, and Peru.
- The launch comes five weeks before the FIFA World Cup kicks off, where Mexico will play South Africa at the Estadio Azteca.
The rollout solidifies Stake's presence in Mexico ahead of the country co-hosting the 2026 FIFA World Cup with the United States and Canada. Stake Director Jarrod Febbraio described Mexico as a “significant and exciting market” for the operator, framing the entry as a natural progression of the company's existing momentum across the continent.
Stake already holds a full Brazilian license granted by the SPA in February 2025, with marketing partnerships including football club Juventude and UFC events. Brais Pena, strategy director at Stake's tech arm Easygo (based in Melbourne), previously described the regulated regional strategy as broader than the operator's global crypto-based business. In early 2025, he told SBC Leaders that the company's expansion into regulated markets includes fiat operations in Colombia, Italy, and Peru.
Mexico's online betting market is undergoing significant regulatory changes. In 2025, online gaming revenue exceeded land-based revenue for the first time, and operators face a 50% IEPS special tax on betting turnover—up from 30%—effective January 1. Advertising restrictions are also under consideration, with proposals to ban gaming promotions between 06:00 and 22:30. Despite an estimated 60% of operators currently operating without a federal SEGOB license, according to industry association AIEJA, Mexico's online gaming market is projected to reach $4.63 billion by 2028.
With its entry into the Mexican market, Stake will be able to compete with established licensed providers during what is expected to be the biggest period of sportsbook uptake in the country's history. Separately, live sports streaming platform DAZN has become FIFA's official partner for a blockchain-based prediction market and will integrate it directly into its World Cup live broadcasts.