Stake has strengthened its presence in Latin America after securing a licence to operate in the Province of Buenos Aires, Argentina’s largest and most economically significant gambling market.

The approval, granted by the Provincial Institute of Lottery and Casinos, allows the operator to offer its sportsbook and online casino products to players in a province that accounts for nearly 40% of Argentina’s population.

The move follows Stake’s recent launch in Mexico and further underlines the company’s aggressive expansion strategy across regulated Latin American markets ahead of the 2026 FIFA World Cup.

Stake enters Argentina’s largest gambling market

The Province of Buenos Aires represents one of the most attractive regulated gambling jurisdictions in Latin America. With almost 18 million residents, the province accounts for a substantial share of Argentina’s online gambling activity.

According to H2 Gambling Capital, Argentina generated approximately $5.03 billion in total gambling gross win during 2025, making it the world's 23rd largest gambling market.

Stake will operate through its local domain, Stake.bet.ar, bringing its sportsbook and casino platform to one of the fastest-growing regulated gaming markets in the region.

The company cited Argentina’s strong sporting culture and increasing digital adoption as key factors behind its decision to enter the market.

Argentina a "natural next step"

Stake’s Latin America General Manager, Diana Otalora, described the launch as a logical continuation of the company’s regional growth strategy.

“We’ve continued to build momentum across Latin America in recent years, and this launch reflects our ambition to establish Stake as the leading entertainment brand in the region,” Otalora said.

“Argentina is a market with energy and identity and we’re excited to bring our world-class sportsbook and casino experience to players through Stake.bet.ar.”

The launch forms part of Stake’s broader effort to increase its presence in regulated jurisdictions and strengthen its position ahead of what is expected to be a record-breaking betting cycle surrounding the 2026 FIFA World Cup.

Navigating Argentina’s fragmented regulatory system

Despite the size of the opportunity, Argentina remains one of the more complex gambling markets for international operators.

Unlike many countries that regulate gambling at a national level, Argentina operates a provincial licensing model in which each province independently controls its gambling regulations.

Most of the country’s 23 provinces have introduced regulated online gambling frameworks, while Buenos Aires City operates as an autonomous jurisdiction with its own licensing structure.

The fragmented system stems from Article 121 of Argentina’s Constitution, which leaves gambling regulation under provincial authority rather than federal control.

As a result, operators seeking nationwide coverage must obtain multiple licences and often partner with local entities.

Industry continues to push for federal coordination

The complexity of Argentina’s provincial framework has prompted calls for greater regulatory coordination.

Speaking previously about the market, Atucha Strategic Advisory founder and CEO Ramiro Atucha highlighted the challenges international operators face.

“It’s challenging for international operators to enter Argentina. Mostly, I would say because of the state-by-state system, but also on the fact that they need to find a local partner to share the licence with,” Atucha explained.

However, industry stakeholders have also noted significant improvements in cooperation between regulators and national authorities.

Local lottery regulators now work alongside agencies such as the National Communications Authority (ENACOM) and the Central Bank of Argentina (BCRA) to combat illegal gambling and restrict unauthorised payment channels.

This increased collaboration has helped strengthen enforcement despite the absence of a unified national framework.

Fifth regulated market in Latin America

The Buenos Aires licence becomes Stake’s fifth regulated market in Latin America.

The operator is now licensed in:

- Argentina

- Brazil

- Colombia

- Mexico

- Peru

The company has been steadily expanding its regulated footprint across the region as Latin America becomes one of the most important growth areas for global gambling operators.

World Cup opportunity driving expansion

Stake’s recent activity suggests a clear focus on positioning the brand ahead of the 2026 FIFA World Cup, which will be hosted by Mexico, the United States and Canada.

The tournament is expected to generate significant growth in sportsbook activity across Latin America, where football remains the dominant betting product.

Otalora recently described Latin America as a strategic priority for the business and emphasised the importance of tailoring products to local markets.

“Every market is different, which makes Latin America very special,” she said.

“The regulatory environments differ, user behaviour differs, sports preferences differ. That nuance is what makes regional experience genuinely valuable, and it’s why we approach each market slightly differently.”

Building a regional powerhouse

Stake’s latest licence reinforces a broader trend of major international operators seeking scale across Latin America through locally regulated markets rather than relying on offshore operations.

With licences now secured across several of the region’s largest gambling jurisdictions, Stake is positioning itself as one of the most prominent international betting brands operating in Latin America ahead of what could be a transformative period for the sector.

Sources: IGB, Next.io