General Brazilian
aumentar as apostas / elevar as apostas
Most common usage in informal and formal contexts
Rio de Janeiro
aumentar as apostas / botar mais na mesa
More colloquial alternative in casual speech
São Paulo
elevar as apostas / aumentar o jogo
Business and competitive contexts frequently use this form
Portugal
aumentar as apostas / levantar a parada
Both forms are used; levantar a parada is more traditional