Stake.com Buys Betfair Colombia, Gets Gambling License

Stake.com, the cryptocurrency bookmaker and casino, has snapped up Betfair’s Colombian gambling division, Next.io reports.

The deal gives Stake.com a Colombian gambling license that is valid until 2025.

Stake.com is now redirecting users with Colombian IP to its new site, Stake.com.co. They can’t access the original site anymore.

Stake.com is a popular online gambling brand with a Curacao license. It also has local licenses for some regulated markets, like the UK. And now it’s expanding to Colombia, one of the fastest-growing gambling markets in Latin America.

But Colombia is also changing its gambling rules. The country’s gambling regulator, Coljuegos, has drafted a bill that would make it the sole authority for gambling advertising. There is also a proposal to ban gambling companies without local licenses from sponsoring Colombian sports teams. It’s expected that the new rules will kick in on January 1, 2024.

Previously, it was reported that Stake.com had some trouble in Denmark recently, where it was blocked for not having a local license.