The exclusive deal will cover the 2024 and 2025 F1 seasons. Stake joined the Sauber team as a co-title sponsor last year, with the team known as Alfa Romeo F1 Team Stake for the duration of the 2023 campaign.
The team’s social media handles will be changed to reflect the new Stake F1 Team name.
According to Stake, the brand marked its entrance into F1 last year via a series of unique activations. These focused on cross-collaborations with the team’s other partners.
Stake planning activations
Stake is planning a series of high-profile F1 activations in 2024, including surrounding the launch of the new C44 car in February.
Team representative Alessandro Alunni Bravi said the new deal was “the natural and exciting next step”.
Bravi added: “Stake not only successfully tapped into Formula One’s growing fan base to enhance its own community… [It] also introduced a completely new audience to the sport.
“We had the opportunity to participate in some incredible activations with some of Stake’s ambassadors.”
Some of the activations featured the likes of Argentinian football legend Sergio Aguero and Indian-Canadian rapper Karan Aujla.
Value of F1 to Stake
Stake chief marketing officer Akhil Sarin highlighted the “marketing and media value… within the digital landscape”.
“The first phase of this partnership has succeeded in increasing global brand awareness for all stakeholders. At Stake, we are prepared to take the team’s reach, fanbase and visibility to unprecedented levels.”
Stake ventured into F1 a year ago after sealing other commercial partnerships in the sports industry. Previously, Stake secured exposure with English football club Everton, the Ultimate Fighting Championship and via English football’s FA Cup.
Links between F1 and betting tightening
Stake’s move into F1 marks the latest bond between racing and the betting industry, a relationship that was strengthened in 2024.
Las Vegas held its first ever Grand Prix back in November, attracting 300,000 fans to the city. As a result, Bet MGM took three times the number of bets of any other F1 race in its history.
The Grand Prix also boosted Nevada’s revenue for November, with a 12% year-on-year increase in gaming win thanks to punters flocking to the state.
The Nevada Gaming Control Board published figures showing the state’s establishments made some $1.37bn (£1.1bn/€1.3bn) in gaming revenue in November.
Win was up by 5.6% over the course of the most recent three-month period. Over the last 12 months, Nevada’s total gaming win is up 4.9% to $15.4bn.
Original article: https://igamingbusiness.com/marketing-affiliates/sponsorship/stake-seals-exclusive-f1-team-title-sponsorship/
