Stake.com Launches Online Gaming in Peru
Cryptocurrency operator Stake.com has gained authorization to launch its casino and sportsbook in Peru as part of its expansion into regulated markets.
Peru will be Stake’s second regulated market in LatAm having acquired Betfair Colombia in 2023, with former Boylesports growth manager Jennyfer Escobar joining as country manager to spearhead the company’s online gaming efforts in the nation.
Diana Otalora, Stake’s general manager for LatAm, believes the move highlights the company’s dedication to the region, saying: “This shows our ambition to provide world-class entertainment to Peruvian customers and to expand our reach in LatAm.”
KTO Sets Sights on 10 Percent Market Share in Brazil
Andreas Bardun revealed to iGB that KTO, of which he is CEO and founder, is looking to achieve 10 percent market share in Brazil having applied for a license on Aug. 5.
KTO has been an active operator in Brazil since 2019, first launching in a single state, though successes since then have given the company a platform to now try and make a further dent in the market with a federal license.
The 10 percent market share objective certainly won’t be easy with giants such as Bet365, Betano and Flutter’s Betfair also applying for a license, though Bardun has faith it’s a target the company can meet.
“We know we’re probably far off that at the moment, but if you consider pound for pound what we have done in Brazil because we are coming from very humble backgrounds with very small investment into the company and to be able to compete with the big boys, we are very confident that we can achieve this,” Bardun said.
Bill for Harsher Match-Fixing Penalties Endorsed in Brazil
Brazil’s constitution and justice committee (CCJ) of the chamber of deputies has approved a bill that would harshen punitive action against those found to have been involved in match-fixing.
The current penalties for those found to have manipulated matches are a prison term of between two and six years and a fine.
The substitute bill, which would amend Brazil’s General Sports Law, would increase the penalty from a third to a half if the person involved serves as a referee, player, coach, bettor or agent as well as a manager, director or representative of a sports team.
The amended bill also includes a prison sentence of between two and six years for those found to have solicited or recruited people such as referees, athletes, coaches or directors to be involved with match-fixing.
Online Gambling Boosts Colombia’s Q2 GDP Growth
Colombia’s online gaming market reached COP10 billion ($2.5 billion) over Q2, with the government crediting the sector as a key part of the country’s economic growth across the quarter.
Colombia’s national gross domestic product (GDP) increased by 2.1 percent across Q2, with the country’s National Administrative Department of Statistics (DANE) highlighting Colombian igaming as one of the activities that boosted that growth.
As revealed by Marco Emilio Hincapié, president of Colombian gambling regulator Coljuegos, sports betting was the largest contributor, responsible for 47 percent of total gross gaming revenue (GGR) nationally in Q2.
Piedad Urdinola, director of DANE, pointed to recent sporting events such as the summer’s Copa América in which Colombia reached th
