The popular online sports betting and casino platform Stake is launching in Mexico as its expansion into Latin America begins to pick up steam.
The site, which can count the likes of R&B superstar Drake and Everton FC among its ambassadors, will go live ahead of the World Cup this year, which is being jointly hosted by Mexico, Canada, and the United States of America.
Launch coming under Stake.mx domain
Announcing the news on Monday, Stake said its stake.mx domain would be operating in one of the region’s “fastest growing regulated markets”. The platform already retains licenses in Peru, Brazil, and Colombia, and Stake Director Jarrod Febbraio believes Mexico is the natural next step for the company.
He said: “Mexico is an important and exciting market for us – one that combines strong underlying growth with a deep cultural connection to sport, which aligns perfectly with what Stake is built for,
“We’ve built significant momentum across Latin America in recent years, and Mexico represents a natural next step given its scale and long-term potential.”
Stake aims to capitalise on World Cup fever
A recent study by Barclays found that the 2022 World Cup in Qatar generated about $35 billion in global sports betting turnover, a 65% increase from the 2018 tournament in Russia.
Analysts say that growth is expected to accelerate for the 2026 World Cup, with broader digital access, expanding regulated betting markets and structural changes in key economies key to the expected windfall for betting companies.
Febbraio is hoping Stake can cultivate the expected popularity of World Cup betting in a country that will be highly engaged.
He said: “With Mexico set to co-host the 2026 football World Cup tournament, the timing of this launch reflects our ability to move with precision into high-value markets at the right moment,
“It gives us the opportunity to establish a strong presence ahead of one of the biggest sporting events in the world and deliver a world-class experience for Mexican players.”
Mexico’s appeal to international gambling operators, including Stake, alongside established brands like Bet365 and Novibet, as companies position themselves in one of Latin America’s largest markets. But the industry continues to operate under a legal framework dating to 1947, with long-discussed reforms yet to materialize, leaving a patchwork system that analysts say complicates investment and oversight.
Pressure intensified in 2026 after the government raised gambling taxes to 50%, among the highest rates in the world.
Calls grow on Mexico to modernise gambling framework
Last month, the president of the Mexican Association for Permit Holders, Operators and Suppliers of the Entertainment and Gambling Industry (AIEJA), Miguel Ángel Ochoa Sánchez, reiterated calls for the market to bring its regulatory infrastructure up to date.
There were hopes an updated framework would be submitted to the legislature during its first 2026 session, which ended April 30, but there are suspicions other issues took priority.
In a recent interview, Sánchez lamented the delay: “In December 2024, President (Claudia) Sheinbaum publicly announced the need for a new Federal Law on Games and Raffles and tasked the Ministry of the Interior, as the regulatory body, with drafting a proposed bill to be submitted to the legislature for review.
“During the first quarter of 2025, the Ministry promoted working groups and invited the entire gaming sector to participate in these thematic panels to enrich the proposal. And since then, nothing. We’re still waiting, without even knowing the supposedly final version of the bill.”
A recent analysis by Grand View Research, a market research and consulting company, suggests Mexico’s online gambling sector is poised for rapid expansion after generating an estimated $1.35 billion in revenue in 2025, with projections showing the market could more than double to $3.6 billion by 2033.
The sector is expected to grow at a compound annual rate of 13.1% from 2026 through 2033, driven largely by the continued rise of digital betting platforms. Sports betting accounted for the largest share of revenue in 2025 and is forecast to remain the fastest-growing segment, underscoring shifting consumer demand toward online wagering options.
Stake faces underage gambling complaint in Florida
Meanwhile, attorneys in Florida have filed what they say is the first underage gambling complaint against offshore operator Stake, alleging the site targets minors. The Pensacola-based firm Rafferty, Dominick, Cunningham and Yaffa brought the case on behalf of a client under 21.
Lawyers say the company uses aggressive marketing, including influencer promotions, to reach young audiences. The client reportedly created an account as a teenager by bypassing age restrictions with a low-cost app and became addicted.
According to the complaint, the now-20-year-old spent tens of thousands of dollars, using gift money and later a parent’s credit card. He dropped out of college after gambling away tuition funds and now attends support meetings several times a week.
The National Council on Problem Gambling estimates about 160 million minors worldwide gambled between 2024 and 2025.
