Stake.com sponsors Sauber F1 Team
Cryptocurrency casino operator Stake.com has announced that it has acquired naming rights to Swiss Formula One team Sauber.
The team has flown under the Alfa Romeo banner for the past five seasons. Stake.com will be the team's main sponsor in 2024 and 2025 before changing its name to Audi in 2026. Financial terms of the deal were not disclosed, but it expands the gaming company's growing influence in F1. Valtteri Bottas and Zhou Guanyu remain Sauber drivers. Stake was a sponsor of Alfa Romeo Racing last year.
Last season marked the beginning of Stake’s journey into F1 and the brand’s new role as the leader of the Stake F1 Team represents a natural and exciting next step in that journey. "Team representative Alessandro Alunni Bravi said in a statement. Explained.
Stake.com is currently a so-called gray market operator. The label means that, although it does not have the same level of formal licensing and regulation as the white market, it is safer for consumers than its black market counterpart.
Stake.com is no stranger to the spotlight
While cryptocurrency casinos in the United States are unregulated and therefore unable to benefit much from this market, the concept is gaining popularity with punters elsewhere.
As a result, Stake.com and some competitors have tried to market themselves through traditional channels. For example, Stake.com has a jersey sponsorship deal with English Premier League (EPL) team Everton Football Club, among other established marketing initiatives.
Explaining: “Drake is one of Stake’s celebrity, sports and lifestyle partners, which also includes Premier League football club Everton and UFC, and as part of the partnership, Drake is likely to appear at the Grand Prix .”
Australia-based Stake.com is also a major sponsor of the African Warrior Fighting Championship (AWFC), the continent’s equivalent of the UFC.
F1 increasingly overlaps with gaming
News of Stake.com's deal with Sauber comes less than two months after the Las Vegas Grand Prix, confirming that Formula 1 is becoming increasingly comfortable at the intersection of racing and betting. This was the series' first stop in Sin City in four decades, and most considered the event a huge success, creating one of the "best weekends ever" for gaming revenue at America's casino hubs.
The series has also become a hub of activity for blockchain and cryptocurrency companies seeking sponsorship opportunities. Binance, ByBit, OKX, OpenSea and Tezos are among the latest affiliates seeking F1 business.
As for Stake.com, the gaming company and Sauber are planning to launch a new-look car for the upcoming F1 season. However, no date has been set for the car to be unveiled to the public.
Read also:
- Football 101: What is relegation in football?
- West Virginia joins multi-state internet gaming agreement, becoming fifth state to do so
- Philadelphia 76ers swingman Kelly Oubre hit by car, out indefinitely
- Detroit casino revenue drops as union members strike
Source: www.casino.org
