Top crypto casino Stake secures Brazilian licence
Leading crypto casino Stake has confirmed it is launching in Brazil after securing a licence.
Stake has set up a new operations centre in the Brazilian city of São Paulo and Thomas Carvalhaes has been appointed as its country manager, leading a team of 10 employees.
Brazil is one of the fastest-growing areas for gambling having only recently opened the door to a regulated sector and it has set up a working group to keep an eye on how the market works.
Stake is just one of the many global online casino brands that are looking to capture a slice of the pie, with a lot of excitement around the potential growth in Brazil in the coming months.
“We are very excited about the regulated environment and opportunities in the Brazilian market,” Carvalhaes said in a statement. “Leading a brand capable of innovating and communicating with the right audience is something truly powerful.”
Stake has been using sports sponsorships to increase its public profile in Brazil, teaming up with the likes of Juventude Football Club and UFC as well as the Fittipaldi brothers, Pietro and Enzo, both professional racing drivers who are grandsons of two-time F1 champion Emerson Fittipaldi.
Brais Pena, the crypto casino company’s chief strategy officer said: “For Stake, the license represents another step in its global expansion into regulated markets. The relevance of the market and the speed with which we reach it exemplify our working method.
“Stake Brasil users can expect a similar experience to Stake.com, with a focus on the best customer service and quality products, placing the customer at the center of all operations.”
The crypto casino and sports betting brand already has a presence in other top South American markets such as Colombia and Peru, while it has completed the acquisition of IdealBet in Italy.
Stake has secured a turnkey sportsbook deal with Kambi Group to operate its site in Brazil.
The firm’s chief executive Werner Becher said Kambi excels in “driving growth for operators in regulated markets around the world”.
He added: “Kambi’s advanced and compliant technology enables operators to offer a leading sportsbook product, even within highly complex frameworks, so I’m excited to see what Kambi and Stake can achieve together in Brazil and other regulated markets.”
Stake is using TG Lab’s PAM and front-end platform in Brazil. This is the third time that the crypto casino site has used that solution after doing so in both Colombia and Peru last year.