Stake Bookmaker to Grow Its Presence in the Brazilian Market

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After being founded in 2017, for years, Stake had been managing to successfully expand its presence in global sports betting markets.

It acquired a license from Curaçao and established its main offices in Serbia, Australia, and Cyprus, reaching a growing number of players worldwide.

However, in 2023, Stake’s reputation took a serious hit. It underwent a large-scale cyberattack, losing $41.3 million and compromising the safety of its users.

Everyone thought this would be the end of this bookmaker, but despite all the negativity and skepticism, Stake survived.

Today, it has strengthened its security mechanisms — more than that, it has ventured into the Brazilian market, a fact that opens a sea of new opportunities for the bookie and its target audience.

If you’d like to know more about Stake bookmaker, you can read a detailed overview by following this link.

Find out what types of sports events it covers, which betting markets are available, what bonuses and promos Stake users can get, and so on.

The Incident and Recovery

Stake has always been known as one of the most revolutionary online bookmakers operating on a global scale.

It became one of the first crypto sports betting platforms, and this attracted a lot of attention to it, both of the positive and negative kinds.

Unfortunately, in 2023, Stake was attacked by Lazarus, a North Korean hacker group that managed to steal $41.3 million from it.

This event had long-lasting consequences for the bookmaker and its bettors: people lost their faith in Stake’s security. Old users stopped visiting the platform, while new ones refused to create their accounts.

Without doubt, it was a huge security breach, but against all odds, Stake lived through it. Here is what it did:

Made the creation of more complex passwords mandatory for all Stake bettors and gamblers.
Applied obligatory multi-factor authentication at Stake’s bookmaking and gambling parts.
Implemented new advanced encryption models for protecting data and financial information.
Set up regular check-ups and predictive risk assessments to eliminate issues before they occur.

Time and time again, Stake kept proving that it can be trusted, and by the end of 2024, its steady approach finally bore its fruits.

People started to flock to it again, especially since it offered good odds and a variety of sports events that most other bookmakers fail to cover.

Stake’s Present and Future in the Brazilian Gambling Market

At the moment, Stake provides gambling and sports betting services in the following countries:

Latin America. Stake is available to players from Colombia, Costa Rica, Chile, Peru, Argentina, etc.
Asia. Stake’s services are considered legal in India, Japan, Thailand, and Vietnam.
Africa. Nigerian, Kenyan, and Ghanaian players are welcome to play at Stake.
Canada. Stake is available in all provinces except Ontario.

However, even such a significant reach hasn’t been enough for Stake. It is clearly an ambitious platform, so lately, it’s been making attempts to settle in the Brazilian bookmaking industry.

This move started by Stake becoming a sponsor of the Esporte Clube Juventude football team. In addition, it signed contracts with UFC Brazil as well as Pietro and Enzo Fittipaldi in particular.

Its name is getting more popular among regular Brazilians who love sport and want to try their luck placing bets on different events.

Brazilian betting and gambling market is tightly regulated, but Stake is known for its innovative approach, so it has good chances to succeed.

As its Country Manager for Brazil, Thomas Carvalhaes, says, “Brazilian market, in many ways, lacks innovation, with most operators doing similar things. This presents a significant opportunity for growth and differentiation.”

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