Following its removal from the UK market earlier this week, Stake has outlined that it will focus on its Italian and Brazilian offerings.
The Easygo-owned sportsbook and casino issued a statement outlining these commitments after the UK Gambling Commission confirmed that TGP Europe would close down the operator’s UK website.
A spokesperson from Stake noted: “Stake has made a strategic decision in mutual agreement with TGP Europe to exit white-label agreements and focus on securing local licences through our in-house platform and operations, building upon our growth in key regulated markets such as our recent expansions into Italy and Brazil.”
TGP Europe, based in the Isle of Man, had been operating the Stake website under its own licence.
This was under a white label agreement with the company, while it also engaged in similar agreements with several other overseas gambling firms.
The shutdown has cast some doubt on the future of Premier League side Everton FC and its partnership with Stake. The operator has been the front-of-shirt partner of the Premier League club for the past two seasons.
Although this would have to end after the 2025/26 season along with other Premier League front-of-shirt betting sponsorships due to the self-imposed ban clubs are introducing, it remains to be seen whether Everton will renew the contract for one final season.
The UKGC has told the Merseyside club that it will have to prove that necessary geoblocking solutions are in place to stop UK consumers from accessing the site of its front-of-shirt betting partner.
Times are changing in the UK regarding sports sponsorship, with clubs and operators adhering to a new Code of Conduct – though it is worth noting that the Betting and Gaming Council (BGC) trade body, which developed the code along with sports stakeholders following the Gambling Act review, stated on X that Stake was not one of its members.
Two core markets, two marketing routes
Regardless, Stake’s international sports marketing activity will likely continue with little or no impact from its UK exit or any potential fallout from the Everton deal. As Stake’s spokesperson said, Brazil is a key market for the company.
Brazilian sports organisations are free to engage in sponsorship deals with betting firms under the newly launched market’s regulations, but must adhere to certain responsible gambling, player protection and sports integrity requirements.
Stake maintains deals with Campeonato Brasileiro Série A football club Esporte Clube Juventude, in place since January last year, and with popular Brazilian UFC light heavyweight champion Alex Pereira.
As Brazil has been earmarked as a core focus for the company going forward, more sponsorship deals could be on the horizon. The highly competitive nature of Brazil’s new market could make this more likely.
With over 200 betting sites licensed to operate in Brazil, the need to set oneself out from the competition is paramount, and sports deals are one of the standout ways to do this, just as is the case in more established markets like the UK.
Its marketing activity in Italy will have to take a different route. The company secured a foothold in the country last year by acquiring Idealbet, a prominent local firm, and as its spokesperson said is now considering it a key market.
Italian sponsorship rules are tricky, however. Sports sponsorships between betting firms and sports teams are banned, and so some operators have opted for ‘infotainment’ deals between their media holdings and clubs. As Stake chases more visibility in Italy, an infotainment firm involving Idealbet could potentially be on the cards…
In other news, Stake parent company Easygo acquired Danish operator VinderCasino last month, following similar moves into Colombia, Peru, Brazil, and Italy. It also has licences in Ontario, Mexico and Paraguay. Chief Strategy Officer Brais Pena recently told SBC Leaders magazine that there will be more to come in 2025.
Regulus Partners analyst Paul Leyland comments: “Stake has got so big that it almost has to go regulated. Once you want to capitalise, you can’t list Stake or sell it without a critical mass of licences.”
