Stake Launches Regulated Mexico Operation Five Weeks Before World Cup Kickoff
Online gambling operator Stake officially launched in Mexico on Monday, going live through stake.mx under a permit-based structure overseen by SEGOB, the Ministry of the Interior. The company is operating as an agent under a license agreement with intermediary firm Uno Capali, a structure commonly used in Mexico, where new federal gambling permits are rarely issued, and operators sublicense from existing permit holders.
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.
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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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