Stake launches regulated Mexico operation ahead of World Cup

Online gambling operator Stake went live in Mexico on May 4 at stake.mx under a federal permit issued by SEGOB, the Ministry of the Interior. The company is operating as an agent through a license agreement with intermediary firm Uno Capali.

Federal gambling permits are rarely issued directly to new entrants in Mexico, so operators commonly sublicense from existing permit holders. The permit allows Stake to offer regulated online sports betting and gaming services while operating within Uno Capali’s license framework.

The launch comes five weeks before Mexico’s opening match at the 2026 FIFA World Cup at Estadio Azteca. Mexico will co-host the tournament with the United States and Canada.

Mexico is Stake’s fourth fully regulated market in Latin America after Colombia, Brazil and Peru. Stake holds a full Brazilian license granted by the SPA in February 2025 and has marketing partnerships in Brazil with football club Juventude and with UFC events. Company executives have described the operator’s regulated strategy as including fiat-currency operations in Colombia, Italy and Peru.

Jarrod Febbraio, a director at Stake, described Mexico as “an important and exciting market” and called the entry a natural extension of the company’s growth in the region.

Regulatory conditions in Mexico have changed in recent years. Online gaming revenue exceeded land-based gaming for the first time in 2025. A 50% IEPS special tax on betting turnover took effect on January 1, replacing a prior 30% margin-based levy. Regulators are also considering advertising restrictions that would prohibit gambling promotions between 06:00 and 22:30.

Industry association AIEJA estimates about 60% of operators in Mexico are operating without a federal SEGOB permit. Market projections from analysts put Mexico’s online gambling market at roughly $4.63 billion by 2028.

Stake’s use of a permit-and-sublicense structure places the company among licensed operators competing for customers and commercial partners during what regulators and industry observers expect will be a substantial sportsbook acquisition window. The company will operate under the new tax and advertising rules while building local marketing and compliance capabilities.