Crypto casino Stake secures blockbuster F1 deal

Leading crypto casino and sports betting site Stake has continued to move into sports sponsorship with a new big money deal in Formula One.

Motorsport lovers can look forward to seeing Alfa Romeo F1 Team Stake in action during the 2023 racing season as a result of the new agreement between the team and the company.

Stake is already the headline sponsor of Premier League football club Everton, while the crypto casino has agreements with other stars like Sergio Aguero and Drake, the Canadian rapper.

Bijan Tehrani, co-founder of Stake, said in a statement that the crypto casino was “thrilled” to be moving into Formula One, with “a legendary F1 team that shares with us the same ambitions of growth and success”.

He added: “Alfa Romeo F1 Team Stake will expand our opportunities for fan engagement through brand integration and activation. We are fully committed to enhancing race weekends by creating unique experiences for all Alfa Romeo F1 Team Stake fans, growing audience engagement in the digital arena.”

Although Stake was only founded in 2017, it did not take long for the site to become one of the most popular crypto casinos on the planet. The addition of a sports betting site has shown that Stake intends to keep moving into new areas, explaining the new deal in Formula One.

It is a positive start to the new year for Stake, which was mired in controversy during 2022. Florida resident Christopher Freeman claimed in a lawsuit that he was responsible for co-founding the brand, only to be shut out by his colleagues. He is seeking as much as $400 million but Stake’s co-founders have denied his allegations and are fighting back hard.

Commenting on the decision to join forces with Stake, Alessandro Alunni Bravi, the managing director of Sauber Group and team representative, said it is the start of a “new era” for the team.

He said in a statement: “Formula One has seen a huge increase in interest over the last few years and the arrival of brands such as Stake are representative of the massive exposure our sport can offer. We are excited to join such a portfolio of sports and entertainment brands and we’re looking forward to the activation programme that Stake will unveil for our fans.”

Valtteri Bottas and Zhou Guanyu will drive for Alfa Romeo F1 Team Stake during the 2023 Formula One season, which gets up and running with the Bahrain Grand Prix on March 5.

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