Stake has set its sights on Italy, a market poised for transformation under a reorganised online gambling framework. With its recent acquisition of Idealbet, a reputable sportsbook operator, Stake is ready to challenge established players and stake its claim as a leader in the Italian market.
Stake’s acquisition details
Stake’s journey into Italy began with the acquisition of Baldo Line SRL, the operating company behind Idealbet.it. This move gives Stake not only an established presence in Italy but also access to a loyal customer base. Idealbet’s heritage as a trusted sportsbook brand makes it the perfect launchpad for Stake’s ambitions. Securing a foothold in Italy’s regulated market comes at a cost. Stake has paid the ADM (Italy’s Customs and Monopolies Agency) a €7 million fee for a nine-year operational licence. This investment highlights Stake’s commitment to adhering to Italian regulations while securing long-term market stability.
To solidify its presence, Stake is setting up an office in Rome and expanding its team. This local approach not only supports regulatory compliance but also ensures that Stake’s offerings resonate with Italian players. Italy’s advertising restrictions pose a significant challenge, but Stake plans to rely on organic growth strategies. This includes leveraging social media, partnerships, and word-of-mouth campaigns to build brand awareness.
The high ambitions of Stake in the Italian market were detailed by Brais Pena, Chief Strategy Officer of Easygo. Pena stated, “We’re excited about our plans for the Italian market. We’ve recently acquired Italy-based sports betting and remote gaming operator Baldo Line SRL, part of the Octavian Group, including Idealbet.it.”
Pena further commented, “Our priority is to ensure that we operate within Italy’s regulatory framework and provide the best possible experience for players. By combining Idealbet’s established presence and expanding our team in Rome with Stake’s exceptional player experience, we offer a product that will attract and retain players, even in a very competitive market.”
Why Italy is key market for Stake
Italy’s online gambling market is one of Europe’s largest, offering lucrative opportunities for operators. However, with fierce competition and an advertising ban in place, newcomers like Stake must find innovative ways to attract players. Idealbet’s strong reputation in Italy gives Stake a head start. By building on this foundation, Stake aims to gain trust and establish itself as a go-to platform for Italian players.
Stake’s focus is on delivering an exceptional user experience. By combining cutting-edge technology with customer-centric services, the company aims to foster loyalty and repeat business. Stake’s ambitions extend beyond its initial entry. By consistently delivering value, the company aims to expand its market share and solidify its position in Italy over the long term.
