Stake expands into Colombia with Betfair Colombia acquisition

Easygo-owned betting and gaming operator Stake has entered Colombia’s regulated iGaming market through the acquisition of Betfair Colombia from Flutter Entertainment.

The strategic acquisition marks a significant milestone in Stake's expansion strategy in Latin America and includes Betfair Colombia’s licence, which has been granted until 2025.

“Expanding into the Colombian market is a strategic decision that aligns perfectly with our vision for growth and innovation,” said Easygo chief strategy officer Brais Pena. “Colombia's position as the first regulated market in Latin America, coupled with its stable environment and robust entertainment industry, 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.”

Stake already has an extensive range of partnerships in Latin America, including serving as the Latin American betting partner of UFC, and boasting brand ambassadors such as Argentinian footballer Kun Aguero, chart-topping rapper Drake, and the Alfa Romeo Formula 1 Stake team.

Colombia will serve as Stake's operational base for expanding throughout Latin America, with the operator having also secured market access in Mexico and Paraguay through agreements with local operators. Further expansion is planned in Peru and Brazil.

“We view the Colombian market as a pivotal entry point for our Latin American expansion,” added Pena. “We are committed to contributing positively to the local economy, fostering innovation, and delivering exceptional entertainment value to our customers.”

Alongside its Stake betting platform, Melbourne-based Easygo also owns live streaming platform Kick.com and newly established game development studio Twist Gaming.