(AsiaGameHub) –   Following its recent entry into Mexico earlier this month, Stake has obtained a license from the Provincial Institute of Lottery and Casinos to operate within Argentina’s Buenos Aires Province.

This development enables Stake to launch its casino and sports betting platform in the country’s most populous province, which is home to nearly 40% of Argentina’s residents.

According to projections from H2 Gambling Capital, Argentina’s total gross gambling yield is expected to reach $5.03 billion in 2025, positioning it as the 23rd largest market globally for the operator.

In its launch announcement, Stake highlighted that Argentina’s passionate sports culture and high level of digital integration were key factors drawing the company to the market.

Diana Otalora, General Manager for Latin America at Stake, described the move into Argentina as a logical progression for the brand’s expansion across the region.

“Our momentum in Latin America has steadily grown over the past few years, and this launch underscores our goal of positioning Stake as the premier entertainment brand in the territory,” Otalora stated.

“It is a vibrant market with a unique identity, and we are thrilled to introduce our premium sports betting and casino offerings to local players via Stake.bet.ar.”

Argentina’s decentralized regulatory landscape persists

The country features a decentralized licensing system where individual provinces oversee regulation independently. While online gaming is regulated in the majority of Argentina’s 23 provinces, the capital city of Buenos Aires operates as an autonomous jurisdiction.

This localized regulatory structure is established by the Argentine constitution, as Article 121 does not assign the authority to regulate gambling to the federal government.

Nonetheless, there is strong industry interest in establishing a unified federal framework that would streamline regulations and permit nationwide operations.

In an interview with iGB in May, Ramiro Atucha, founder and CEO of Atucha Strategic Advisory, noted: “Entering the Argentine market presents hurdles for global operators. This is primarily due to the province-by-province framework, alongside the requirement to partner with a local entity to share the operating license.”

Even so, industry observers generally agree that despite the absence of federal oversight, there has been remarkable progress in cooperation between different institutions.

A local lottery representative remarked: “We currently collaborate closely with federal bodies like the National Communications Authority (ENACOM) to block unauthorized sites, and the Central Bank of Argentina (BCRA) to restrict unauthorized payment processors, among other initiatives.”

Argentina becomes Stake’s fifth regulated market in Latin America

With this latest license, Stake’s regulated footprint in Latin America now spans Argentina, Colombia, Brazil, Peru, and Mexico. The operator has actively accelerated its expansion efforts across the region in recent months, positioning itself ahead of the upcoming FIFA World Cup.

Following its launch in Mexico in early May, Otalora shared with iGB that Latin America remains a key strategic focus for the company, emphasizing their highly localized strategy for each individual country.

“The uniqueness of Latin America lies in the diversity of its markets,” Otalora noted. “Each country presents distinct regulatory frameworks, consumer habits, and sporting interests.

“Navigating these subtle differences is where regional expertise becomes invaluable, which is why we tailor our approach specifically for each market.”