Stake continues its rapid expansion into LatAm with its latest launch in Argentina, ahead of the World Cup Tournament.
After entering Mexico earlier this month, Stake has secured a licence to operate in the Province of Buenos Aires in Argentina, by the Provincial Institute of Lottery and Casinos.
The move will allow Stake to offer its sportsbook and casino platform in Argentina’s largest province, which houses close to 40% of the nation’s total population.
H2 Gambling Capital estimates Argentina’s total gambling gross win in 2025 was $5.03 billion. This makes it the company’s 23rd biggest global market.
In a statement announcing the launch, Stake said it was attracted to Argentina by its rich sporting culture and strong digital adoption.
Diana Otalora, Stake’s LatAm general manager, said Argentina marked a “natural next step” for the company’s regional expansion.
“We’ve continued to build momentum across Latin America in recent years, and this launch reflects our ambition to establish Stake as the leading entertainment brand in the region,” Otalora commented.
“[This] is a market with energy and identity and we’re excited to bring our world-class sportsbook and casino experience to players through Stake.bet.ar.”
Argentina maintains fragmented licensing framework
The market operates a fragmented licensed gambling framework, with provinces regulating independently. Most of the country’s 23 provinces have regulated online gambling, but the capital, Buenos Aires, is designated as an autonomous city.
This provincial regulatory framework is rooted in Argentina’s constitution, with gambling not one of the areas delegated to the federal government by Article 121.
However, there is appetite from the sector for a federal framework to unify regulation and allow operators to operate nationwide.
Speaking to iGB in May, Ramiro Atucha, founder and CEO of Atucha Strategic Advisory, said: “It’s challenging for international operators to enter Argentina. Mostly, I would say because of the state-by-state system, but also on the fact that they need to find a local partner to share the licence with.”
However, many agree that despite a lack of federal regulation, there is “unprecedented progress in institutional cooperation”.
One local lottery official explained: “Today, we work in coordination with national agencies such as the National Communications Authority (ENACOM) for website blocking, and with the Central Bank of the Argentine Republic (BCRA) to limit illegal payment gateways, among others.”
Argentina marks Stake’s fifth regulated LatAm market
Stake is now licensed across various LatAm markets including Argentina, Colombia, Brazil, Peru and Mexico. It has made a concerted effort to grow its licensed business in the region in recent months, ahead of the FIFA World Cup tournament.
The company entered Mexico in early May, with Otalora telling iGB in a follow-up interview, that the LatAm region was a “strategic priority” for the business, and it was taking a fiercely localised approach to each market.
“Every market is different, which makes Latin America very special,” Otalora explained. “The regulatory environments differ, user behaviour differs, sports preferences differ.
“That nuance is what makes regional experience genuinely valuable, and it’s why we approach each market slightly differently.”
