Sauber Formula One Team establishes a collaboration with online gambling platform Stake.
Formula 1 team Sauber Joins Forces with Stake for Two Years, Renames to Stake F1 Team
Sauber's Formula 1 racing team has sealed a partnership with gambling company Stake, a collaboration that will last for a period of two racing seasons. Starting from the forthcoming racing season, the Sauber Team Alfa Romeo will be rebranded as the Stake F1 Team. This information was disclosed in an article on YOGONET [Link in English]. The partnership with Stake gives the company the exclusive naming rights for the 2024 and 2025 racing seasons. Stake is thrilled with the cooperation and is proud to have on board two skilled drivers, Valtteri Bottas and Zhou Guanyu. Alessandro Alunni, the CEO of Sauber Group, also expressed his optimism about the future collaboration, stating:
The inaugural season marked the start of Stake's journey in Formula 1, and its new status as the title sponsor of the Stake F1 Team signifies the exciting progression of this journey.– Alessandro Alunni, CEO of Sauber Group
The partnership between Sauber and Stake was officially announced by renowned musician and Stake's advertising partner, Canadian rapper Drake. Drake, who went live to disseminate the news, also gifted 1 million USD in Bitcoin to his viewers.
Gambling Revenues in Nevada Boosted by F1 Grand Prix
The gamble was on even before the Formula 1 race in Las Vegas kicked off. The Formula 1 racing team Red Bull Racing uploaded a promotional video, featuring Sergio Perez driving his racing car through a casino [ attached image ]. According to an article on the iGB portal [Link in English], gambling operators saw a 12% revenue boost in November 2023. The increased turnover can be attributed to the influx of visitors who came for the inaugural Formula 1 race in Las Vegas. Nevada's casinos generated around 1.37 billion USD in November 2023, with approximately 100,000 Formula 1 fans traveling to Nevada during the Las Vegas Grand Prix from November 16 to 18.
Stake Sets High Aims for Formula 1 Team
Stake aims to contribute to the Formula 1 team's success in a substantial way. The gambling company has set its sights on achieving better racing results in the upcoming two years. From 2026, the Sauber Alfa Romeo racing team will become a part of Audi and will serve as Audi's official works team.
However, the sponsorship of a crypto online casino has raised concerns. Some experts ponder if a sponsorship deal can be aligned with the notion of an eco-friendly Formula 1. The mining of cryptocurrencies is known to consume substantial electricity, exceeding the needs of certain countries.
Cryptomining is carried out worldwide in numerous large facilities, using computers. The systems need to be regularly upgraded to optimize cryptocurrency minting. Additionally, the regular upgrades of systems and computer components also result in electronic waste generation.
The partnership with Stake also extends to the online casino world, with Stake offering exclusive promotions for fans of the Stake F1 Team in Germany. Visitors to the Stake online casino can enjoy special Formula 1-themed games and offers, making their online gambling experience more exciting.
Despite some concerns about the environmental impact of cryptocurrency mining, Stake has committed to using renewable energy sources for its operations, aiming to minimize its carbon footprint and promote sustainability in the online gaming industry.
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