• A senior executive at operator Stake has called for greater regulatory stability in LatAm’s newly regulated online gambling markets, such as Brazil and Peru.
• Laura Maria Gomez Betancur, Stake’s Head of Legal and Compliance for LatAm, warned against the significant risk of overregulation in these nascent legal markets.
• She urged regulators to allow the markets to mature before making “drastic alterations” like the recent tax hikes and advertising restrictions proposed in both Brazil and Peru.
• Betancur stressed that overly restrictive measures could damage the legal iGaming market and push a significant number of players towards the unprotected black market.
• The call for stability and operator consultation highlights the key challenges facing the online gambling industry in the high-growth LatAm gambling region.

A Plea for ‘Regulatory Stability’ in a High-Growth Region

London, UK - 26th September 2025 - A senior compliance executive from major online gambling operator Stake has issued a public call for regulatory stability across Latin America’s new regulated markets, warning that a rush to implement drastic changes could undermine their long-term success.

Speaking to iGB, Laura Maria Gomez Betancur, Stake’s Head of Legal and Compliance for LatAm, explained that while new regulations are never perfect, governments need to allow the markets to find their footing before making major alterations. Her comments come as both Brazil regulation and Peru regulation are already being revised with tougher tax and advertising rules, just months after the markets were established.

“ What we as a company, and I think most companies, want to see is stability,” Betancur said. “ I think that as a new market, yes, they should let the market establish first before starting with all the changes.”

The Dangers of Overregulation and the Black Market Threat

Betancur’s primary concern is the very real risk of overregulation in the LatAm gambling sector. She pointed to recent policy shifts, such as the new consumption tax in Peru and the provisional measure to increase the GGR tax rate in Brazil, as examples of potentially damaging changes being made too soon.

She warned that these kinds of excessive burdens on licensed operators create a direct and predictable consequence: a stronger black market. “ I do think that there is a risk of overregulating and I really hope that doesn’t happen… excessive burdens or disproportionate restrictions could push consumers and operators back toward unregulated alternatives,” she explained.

The Need for Operator-Regulator Dialogue

The solution, according to Betancur, is a more consultative and collaborative approach between regulators and licensed operators. She stressed that iGaming companies want to work with authorities to build a sustainable and safe market.

“ You need to let the market grow. You need to talk to the companies and understand how the operation is working,” she urged. Betancur praised Peru’s regulator, Mincetur, for being open to discussions and expressed a desire for a similar collaborative relationship with Brazil’s new Secretariat of Prizes and Bets.

This dialogue is essential for navigating on-the-ground challenges, such as the initial difficulties operators faced in implementing Brazil’s strict KYC requirements. Betancur noted that through player education, these initial hurdles were overcome, demonstrating that a cooperative approach to compliance works.

While hugely optimistic about the future of LatAm gambling, Betancur’s comments serve as a crucial reminder to governments in the region. The long-term success of their new markets will depend on creating a balanced and stable regulatory environment that allows the legal industry to effectively compete with the persistent threat of the black market.