Stake has secured a licence to operate in the Province of Buenos Aires, Argentina, granted by the Provincial Institute of Lottery and Casinos.
The approval allows Stake to offer its sportsbook and casino platform across Argentina’s largest province, which accounts for close to 40% of the national population.
The Buenos Aires licence marks Stake’s fifth regulated market in Latin America, joining Colombia, Brazil, Peru, and Mexico in its growing regional portfolio.
H2 Gambling Capital estimated Argentina’s total gambling gross win in 2025 at $5.03 billion, ranking it as the company’s 23rd biggest global market worldwide.
Stake said it was attracted to Argentina by the country’s rich sporting culture and strong levels of digital adoption among its population.
Diana Otalora, Stake’s LatAm general manager, described Argentina as a “natural next step” for the company’s ongoing regional expansion strategy.
“We’ve continued to build momentum across Latin America in recent years, and this launch reflects our ambition to establish Stake as the leading entertainment brand in the region,” Otalora said.
“[This] is a market with energy and identity and we’re excited to bring our world-class sportsbook and casino experience to players through Stake.bet.ar,” she added.
Argentina operates a fragmented licensing framework, with each province regulating independently, meaning most of the country’s 23 provinces have established their own online gambling rules.
Buenos Aires city is designated an autonomous jurisdiction, operating separately from the broader provincial regulatory system that governs the rest of the country.
Argentina’s constitution underpins this structure, with gambling not among the areas delegated to the federal government under Article 121.
Despite the complexity, industry figures have noted “unprecedented progress in institutional cooperation” between provincial bodies and national agencies in recent months.
One local lottery official stated that provincial regulators now work alongside ENACOM on website blocking and with the Central Bank to limit illegal payment gateways.
Ramiro Atucha, founder and CEO of Atucha Strategic Advisory, previously told iGB that the state-by-state system and local partnership requirements make Argentina particularly challenging for international operators to enter.
Stake entered Mexico in early May, with Otalora describing Latin America as a “strategic priority” and confirming a fiercely localised approach to each individual market.
“Every market is different, which makes Latin America very special,” Otalora explained, noting that regulatory environments, user behaviour, and sports preferences all vary significantly across the region.
“That nuance is what makes regional experience genuinely valuable, and it’s why we approach each market slightly differently,” she concluded.
Stake’s accelerated LatAm push is widely seen as a calculated move ahead of the FIFA World Cup tournament, where sports betting activity is expected to surge dramatically.
