The Brazilian subsidiary of Stake, Stake Brazil Ltda, has been included in the list of authorized gambling operators by the Treasury Department. This decision was made after reviewing Stake's application and supporting documents.
As part of the plan to provide iGaming content to Brazilian players, Stake will open an office in São Paulo and intends to hire a country manager there, similar to its approach in other Latin American regions. The operator also highlighted its various partnerships in Brazil, such as with Série A team Juventude and Brazil's UFC, collaborating with athletes like Alex Pereira and Alexandre Pantoja.
Beyond Brazil, Stake's list of partners is extensive. This year's collaborations include the UFC Asia region, the non-profit responsible gambling organization BetBlocker, and Hub88, which allows Stake exclusive use of Hub88's entire product portfolio, including games from over 120 studios.
Worth noting: Brazil's regulated online gambling market will launch on January 1, 2025
Earlier this year, Stake also became the title sponsor of the Sauber team, which was rebranded as the Stake F1 team under Alfa Romeo. Gambling Insider attended Stake's C44 car launch in February. However, this sponsorship has faced some challenges, especially when the team races in regions where Stake is not licensed. In August, the Kansspelautoriteit (KSA) called on the Dutch Grand Prix and the Sauber team to avoid promoting Stake during the Zandvoort Formula One race and requested the team "not to drive in the name of Stake."
As of the writing of this article, nearly 200 operators have applied for authorization to the Prizes and Gambling Secretariat (SPA). Despite the SPA setting an authorization deadline of October 1, operators who failed to apply on time will be suspended, with authorization applications continuing into October, where applications submitted on or after October 1 exceeded 15. As of early October, 93 operators were authorized to operate during Brazil's gambling transition period.
The regulated market will officially take effect at the beginning of the new year.
