The exclusive deal between Stake and the Sauber team will cover the 2024 and 2025 F1 seasons. Stake joined the team as a co-title sponsor last year, rebranding the team as Alfa Romeo F1 Team Stake for the 2023 campaign. As part of the deal, the team’s social media handles will be changed to reflect the new Stake F1 Team name.
In 2023, Stake made its entrance into F1 through unique activations and cross-collaborations with the team’s other partners. Building on this success, Stake has planned a series of high-profile F1 activations for 2024, including the launch of the new C44 car in February.
Alessandro Alunni Bravi, a representative of the team, considers the new deal as the natural and exciting next step for both companies. Stake not only tapped into Formula One’s growing fan base to enhance its community but also introduced a new audience to the sport. The company had the opportunity to participate in incredible activations featuring ambassadors like Sergio Aguero and Karan Aujla.
Stake’s Chief Marketing Officer, Akhil Sarin, recognizes the marketing and media value of F1 within the digital landscape. The first phase of their partnership increased global brand awareness for all stakeholders. Now, Stake aims to take the team’s reach, fanbase, and visibility to unprecedented levels.
Stake ventured into F1 after establishing commercial partnerships in the sports industry, including exposure with English football club Everton, the Ultimate Fighting Championship, and English football’s FA Cup.
Stake’s move into F1 strengthens the relationship between racing and the betting industry. This bond was further tightened in 2024 with the Formula One Grand Prix held in Las Vegas. The event proved to be a huge financial boost for Nevada, attracting 300,000 fans and resulting in a significant increase in gaming revenue. Bet MGM, in particular, experienced a record number of bets placed on the race.
In November, Nevada’s gaming establishments generated $1.37 billion in gaming revenue, a 12% YoY increase. Overall, Nevada’s total gaming win in the past 12 months is up 4.9% to $15.4 billion.
