Stake.com Acquires Betfair Colombia Licence From Flutter
The popular crypto casino Stake.com has acquired Betfair Colombia’s licence from Flutter Entertainment, making it possible to offer their services in the South American country. Stake.com’s head of strategy, Brais Pena Sánchez, announced the news on LinkedIn. The exact value paid for the licence has not been revealed.
In addition to the acquisition of Betfair Colombia, the online gambling operator also announced that it will launch a legal online casino and bookmaker in the South American country. Colombians can now participate in online gambling via Stake.com.co.
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Same Licence, Different Owner
The Betfair website in Colombia shows an announcement of the Colombian version of Stake inviting players to register. This seems to indicate that Stake has only taken over the licence and domain from Betfair Colombia, excluding the accounts and funds of the players. There seems to be no changes to the licence number, as the same licence is displayed on the website of the Colombian regulator. It still states that Betfair.com.co has the licence through parent company Betfair Colombia SAS. Betfair Colombia SAS is a subsidiary company of Betfair, which in turn belongs to the international gambling company Flutter. In the trading update Flutter did not announce a departure from Colombia.
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Stake’s Operations Internationally
Stake.com is mostly known for their crypto payments and partnerships with celebrities. In the United Kingdom, Stake operates without crypto deposits and withdrawals through a licence from the UK Gambling Commission (UKGC) on behalf of the (white-label) platform provider TGP Limited. Because it runs on a different platform in the United Kingdom and is licensed through that provider, Stake is allowed to advertise in the UK. The Canadian casino brand is known for its aggressive marketing campaign including a shirt sponsorship with Premier League side Everton. Stake also sponsors Formula 1 team Alfa Romeo whilst it has ambassador deals with the famous rapper Drake and ex-footballer Kun Agüero. The crypto casino launched its own streaming platform KICK, after competitor Twitch tightened the advertising gambling rules banning Stake.com from broadcasting gambling streams. KICK also has a sponsorship agreement with Everton FC.
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Gambling Ad Reforms in Colombia
Colombia is currently in the process of introducing changes to the gambling law regarding gambling advertisements. There is currently a bill that provides that supervision of gambling ads will fall entirely to the Colombian gambling regulator Coljeugos. In addition to the monopoly on gambling ads, the regulator wants a ban on sports sponsorship by non regulated online casinos. If approved, the law will come into effect on January 1, 2024.
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Stake is a Canadian crypto casino that was established in 2017 and enjoys global popularity. It operates with a licence from Curaçao that allows casinos to offer their services and accept crypto transactions. Other than having additional payment methods (or rather currencies), players can enjoy regular online pokies and live dealer games. The website of Stake.com is readily available for players in New Zealand to sign up. Before signing up to this casino we recommend reading our casino review below.
Make Sure To Read: Our Full And Unbiased Stake.com NZ Review