The online gambling operator has become the sole sponsor of Sauber Group Formula One Team.
This exclusive agreement will last for the F1 seasons of 2024 and 2025. Stake became a title sponsor of Sauber’s team last year. The team will be known as Alfa Romeo F1 Team Stake during the 2023 season.
Social media handles for the team will reflect its new name, Stake F1 Team.
Stake claims that it marked its entry into F1 with a number of activations. The activations were centered around cross-collaborations between the team and its other partners.
Plan your stakeholder engagement
Stake plans a number of F1 activations with high profile in 2024. This includes the launch of C44 in February.
Alessandro Alunni Bravi, team representative said that the deal is “the next exciting and natural step”.
Bravi continued: “Stake has not only been able to tap into Formula One’s fanbase to improve its community… but [it] also brought a new audience to sport.
We had a chance to take part in some amazing activations with Stake ambassadors.
Among the celebrities who took part in the events were the Argentinian soccer legend Sergio Aguero, and the Indian-Canadian singer Karan Aujla.
F1 Stake Value
Akhil Sarin, chief marketing officer at Stake, highlighted “the value of media and marketing… in the digital landscape”.
The first phase of the partnership was successful in raising global brand awareness among all parties. We are ready to increase the visibility, reach and fanbase of Stake’s team to new heights.
Stake entered F1 in 2009 after securing other commercial agreements within the sporting industry. Stake gained exposure in the past with English football team Everton and through Ultimate Fighting Championship, as well as via English Football’s FA Cup.
Tightening links between F1 betting and
Stake’s entry into F1 is the latest step in a long-standing relationship between the racing industry and betting. This bond was further strengthened by 2024.
Las Vegas hosted its first Grand Prix in November. The event attracted 300,000 people to the city. Bet MGM received three times as many bets for the first F1 race of its history.
Nevada also saw a boost in revenue thanks to the Grand Prix, as gaming revenues increased by 12% on an annual basis. This was due to more punters visiting Nevada.
Nevada Gaming Control Board has published statistics showing that the gaming revenues in Nevada in November totaled $1.37 billion (PS1.1bn/EUR1.3bn).
The most recent 3-month period saw a 5.6% increase in the amount of money won. Nevada has seen a 4.9% increase in gaming revenue over the past 12 months to $15.4bn.
