Diana Otalora: "We want to be a disruptive betting operator focused on customer satisfaction”

We caught up with Diana Otalora, General Manager at Stake Colombia, with who we discussed the brand’s presence in the country, but also Latin America, and how Stake is preparing to consolidate its local presence while becoming a player-favorite brand. How much of achieving this will rely on overseas expertise, and how much would be based on Stake’s unique ability to navigate new markets? Are there competitive and regulatory headwinds Stake is worried about? Find the answers to this and more in our full conversation with Otalora.

Q: We have seen a tremendous movement from Stake’s corner in Latin America. Is your involvement with the region only just getting started, or is the best yet to be revealed?

Our involvement with Latin America is not just in its initial stages; in fact, we believe that the best is yet to come. We have already established a strong presence in Colombia, Perú, and formed valuable connections in other countries such as Paraguay and Mexico amongst others. Over the past few years, we have laid a strong foundation through significant efforts and investments in the region but the immense potential for growth and innovation in Latin America motivates us to aim even higher.

Q: We have seen you gain entry in Colombia, Paraguay, and Mexico in recent months. How alike and how different are these various LatAm markets from an operational standpoint?

Each country, each audience and each regulation is different, in fact understanding these particularities is the basis of success when new markets are opening. That we are getting the most out of global processes with the particularity of local markets, we call it a "glocal" operational way of work.

Q: Stake.com also became a sponsor of major soccer competitions in Brazil and the region. Have you seen these moves as important stepping stones for your further expansion locally?

Our collaborations include prominent Brazilian teams like Juventude, high-profile events with UFC in Brazil, and the globally celebrated sport of Formula 1, which holds a special place in the hearts of Latinos, These partnerships have not only elevated our presence but also allowed us to resonate more profoundly with the cultural and sporting fabric of the region and solidify our position in LatAm.

Q: Now that you have a good number of local developments under your belt, what is Stake.com’s ambition for Latin America?

With a solid foundation of local developments, Stake.com's ambition for Latin America is multifaceted. First and foremost, we aim to grow in regulated markets, ensuring that we operate within legal frameworks while offering a secure and trustworthy platform for our users. This commitment to regulatory compliance will help us build a sustainable and respected presence in the region.

Additionally, we plan to strengthen our hub in Colombia, which will serve as a central base for our operations throughout Latin America. By enhancing our capabilities in Colombia, we can better serve the diverse needs of the Latin American market and ensure efficient and responsive customer support and service delivery.

Our goal is also to position ourselves as a disruptive betting operator with a strong focus on customer satisfaction. We aim to achieve this by offering a high return to the player and continually enhancing our product offerings to meet and exceed the expectations of our users.

Ultimately, our ambition is to become a leading player in the Latin American sports betting market, known for our innovative approach, exceptional service, and commitment to providing the best possible experience for our customers.

Q: Do you foresee any difficulties that might require you to take a step back before you can overcome them?

One of the primary challenges is the fact that the sports betting and sponsorship space is highly competitive, with numerous well-established players battling for market share. This demands continuous innovation and significant investment in marketing and partnerships to maintain and grow our presence.

Additionally, regulatory frameworks present another challenge. The sports betting industry is subject to stringent regulations, which can vary widely between countries. In Brazil and other parts of Latin America, we need to navigate complex legal frameworks and ensure compliance with all local laws and regulations. In summary, while our partnerships and collaborations have set a strong foundation for growth, we must remain adaptable to overcome the competitive and regulatory challenges that lie ahead. By staying proactive and responsive to these challenges, we can continue to build and expand our footprint in the region.

Q: Can you make one big prediction for Latin American gaming and sports betting for 2024 and Stake.com’s role in it all?

One big prediction for Latin American gaming and sports betting in 2024 is exponential growth, coupled with technological advancements and favorable regulatory changes across the region. As more countries establish clear and supportive legal frameworks, the industry will see a significant growth of new players and increased engagement from existing users.

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