Stake launches in Colombia after buying Betfair’s local business
Users attempting to access the Stake.com site with a Colombian IP address are told the website is no longer available. Instead, individuals are directed to sign up to Stake.com.co.
Stake.com is widely known as a Curacao-licensed crypto casino, but holds several local licences in regulated markets.
In the UK, Stake.com offers non-crypto gambling through a Gambling Commission licence via white-label provider TGP Limited.
Such licences often allow the business to enter into sponsorship agreements with sports teams and to advertise their services in that specific market.In June 2022, Stake.com signed a record front-of-shirt deal with Premier League football club Everton FC, for example.
The Commission bars operators from accepting cryptocurrency payments for gambling deposits due to potential anti-money laundering and responsible gaming concerns.
Dot.coms face enhanced Colombia ad rules
Colombia is currently in the process of reforming its rules around gambling advertising.
Colombian gambling regulator Coljuegos has lodged a bill in the country’s legislature that would see it become the sole regulatory authority for gambling advertising.
Among other proposed changes, the new rules would prohibit operators from entering into sponsorship agreements with Colombian sports teams without a local licence.
Operators would also be barred from advertising or sending marketing materials to individuals without a Coljuegos licence.
The new rules – which would take effect from 1 January 2024 – still need to be approved by the Congress before they become law.