Cryptocurrency betting and gaming operator Stake.com has acquired Betfair Colombia, which sees the brand enter the market via the acquisition of Betfair's licence.
The licensing approval, granted by ColJuegos, the Colombia regulator, lasts until 2025.
“Expanding into the Colombia market is a strategic decision that aligns perfectly with our vision for growth and innovation,” said Brais Pena, chief strategy officer at Easygo, the founder of Stake.com.
“Colombia’s position as the first regulated market in Latin America makes it an ideal destination for Stake’s expansion, with the intention of being one of the dominant players in the market in two years.”
Plans beyond Colombia
With Stake acquiring Betfair Colombia, the operator plans for Colombia to serve as its base for growth throughout Latin America, with its current licence approved until 2025. This follows Betfair’s initial launch on the market in Latin America’s second-largest market in 2020.
In total, Coljuegos has i..