Key Takeaways:
- Stake went live in Mexico on May 4 under a SEGOB permit, operating as an agent under Uno Capali’s license agreement.
- Mexico becomes Stake’s fourth fully regulated LATAM market after Colombia, Brazil, and Peru.
- Launch lands five weeks before Mexico kicks off the FIFA World Cup against South Africa at Estadio Azteca.
Operator Enters Mexico via Permit Agreement Ahead of World Cup Co-Hosting
The launch establishes Stake’s presence in Mexico ahead of the country co-hosting the 2026 FIFA World Cup with the United States and Canada. Stake director Jarrod Febbraio called Mexico “an important and exciting market” for the operator, framing the entry as a natural extension of the company’s existing momentum across the continent.
The operator already holds a full Brazilian license granted by the SPA in February 2025, with marketing partnerships there including football club Juventude and UFC events. Brais Pena, Chief Strategy Officer of Stake’s Melbourne-based technology arm Easygo, has previously framed the regulated regional strategy as broader than the operator’s crypto-native global business, telling SBC Leaders in early 2025 that the company’s regulated-market expansion includes fiat-currency operations across Colombia, Italy, and Peru.
The Mexican market is undergoing significant regulatory change. Online gaming revenue overtook land-based gaming in Mexico for the first time in 2025, and operators face a 50% IEPS special tax on betting turnover that took effect on January 1, a levy that was increased from the previous 30% margin. Advertising restrictions are also under consideration, with proposals to prohibit gambling promotions between 06:00 and 22:30. By 2028, Mexico’s online gambling market is projected to reach $4.63 billion, despite an estimated 60% of operators currently running without a federal SEGOB license according to industry association AIEJA.
The Mexico launch positions Stake to compete against established licensed operators during what is expected to be the largest sportsbook acquisition window in the country’s history.
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