Last Updated: December 21, 2023 has partnered with iGaming solution provider TG Lab as its technology partner for its foray into the Colombian and Latin American markets.

Last month, Stake, a leader in crypto casinos and sportsbooks, acquired Betfair Colombia, a betting operator with a Colombian license valid until 2025. The acquisition marked the entry of Stake into the Latin American market. Colombia, which enacted a gambling regulation law in 2001, is the first regulated market in the region.

“We have ambitious international expansion plans and have identified the regulated Colombian market as having huge potential for Stake. Of course, we need to enter the market with a strong online casino and sports betting experience, and this meant identifying a premium tech partner,” commented Brais Pena, Chief Strategy Officer at Stake.

Ugnius Simelionis, TG Lab’s Chief Executive Officer, said, “Stake is one of the largest gaming operators in the world, and we are proud to have been trusted to provide our platform and mobile app solutions for its move into Colombia.”

Allows Compelling Player Experience

The partnership with TG Lab will allow Stake to use its agile and scalable igaming and sportsbook platform with customizable front-end features. It allows the project greater control over technology, enabling it to foster product innovations and offer rapid releases. These advanced technologies are expected to help Stake establish itself as the leading brand in Columbia.

“In TG Lab we have a proven platform and app provider that knows exactly what it takes to deliver a compelling player experience. This, combined with our brand, puts us on a sure path to success in Colombia,” Pen added.

Expansion into LATAM Market

For TG Lab, the partnership allows its foray into the Latin American market. Currently, it has a footprint in Finland, Estonia, Lithuania, Denmark, Germany, Belgium, France, Great Britain, Canada, Mala, and Sweden.

Stake has secured market access through partnerships with local operators in Mexico and Paraguay. It has set its eyes on Peru and Brazil, which are believed to be future regulated markets in the region. TG Lab’s collaboration with Stake allows it to explore these markets.

“The partnership also marks our arrival in Latin America, a region where we have big plans to become the go-to platform provider for operators looking to deliver the best online casino and sports betting experience to players in regulated markets,” Simelionis added.