Kambi Group has announced a new partnership agreement, under which the supplier will provide its online turnkey sports betting to the cryptocurrency operator Stake.
Initially, this collaboration aims to target the newly regulated sports betting market in Brazil, which has been launched in the country through Stake's real money, Kambi-supported sports betting. However, this latest arrangement also enables Stake to use Kambi's turnkey sports betting on a global scale.
As part of the Easygo Group, Stake itself recently received regulatory approval to obtain casino and sports betting licenses in the Brazilian market. Subsequently, the company announced the appointment of Thomas Carvalhaes as its new national manager for Brazil. Moreover, as part of the new agreement signed earlier this week, the operator also helped introduce TGLab into the country's market.
Easygo Chief Strategy Officer Brais Pena Sanchez commented on this latest news, saying: "Launching products in the newly regulated Brazilian market is an important milestone for us, and we are delighted to collaborate with Kambi to leverage their sports betting solutions to support our expansion in global regulated markets.
"Our experience in the region, combined with Kambi's cutting-edge technology, will enable us to elevate our service level and provide an exciting experience for our customers in Brazil and other regions."
Good news: The latest data confirms that Brazil has issued 68 online gambling licenses and 67 sports betting licenses
On the other side of this deal, Kambi's latest move into the Brazilian market in October involved an additional agreement with local daily fantasy sports operator Rei do Pitaco to provide its Odds Feed+ product. Shortly thereafter, the group announced its third-quarter 2024 results, showing revenue of 43 million euros ($44.3 million), a 2% increase year-over-year.
Kambi Group CEO Werner Becher, speaking about this latest partnership announcement, said: "Kambi has a long history of driving growth for operators in global regulated markets, and we look forward to doing the same for Stake.
"Kambi's advanced and compliant technology enables operators to offer leading sports betting products, even within highly complex frameworks, so I am pleased to see Kambi and Stake achieving together in Brazil and other regulated markets."
