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Gaming

Stake Is Getting In On Formula 1

January 3, 2024
•
x min read
Stake Is Getting In On Formula 1

One of the biggest crypto casinos in the world is making their move into Formula 1 racing.

‍What’s happening:‍

  • Crypto betting and casino platform Stake has announced they will become the newest sponsor of a Formula 1 racing team with a new naming rights partnership with Sauber
  • Sauber was previously sponsored by Alfa Romeo and will now transfer the naming rights to Stake and their live streaming platform Kick

Why it matters:‍

  • Stake has become one of the most culturally relevant crypto native brands, with major partnerships with celebrities including Drake and mixed martial arts company UFC
  • Becoming an official naming sponsor of a Formula 1 team is a major accelerator of awareness for Stake’s brand to a more global audience

Going deeper:‍

  • This is not the first time a crypto company has participated as a Formula 1 sponsor, with Crypto.com previously sponsoring the Aston Martin racing team

By the numbers:‍

  • Stake currently has more than 5 million users registered on their platform
  • Stake processes more than 80 billion transactions per year
  • Stake will have the exclusive naming rights to the Sauber team for 2 years, after which point it will be transferred to Audi as the next sponsor

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