Cryptocurrency platform Stake has secured a prominent position in Formula 1’s next couple of seasons, having won the naming rights to Sauber’s F1 team. Known for its casino and betting services, Stake will take over Alfa Romeo, the previous sponsor of Sauber’s C44 which didn’t extend their association beyond 2023. Sauber, which is scheduled to be rebranded as Audi’s factory team in 2026, will be known as Stake F1 Team during the interim years.

Stake had previously stepped into the F1 world in 2023 through its initial association with Sauber’s F1 car, via its live-streaming platform, Kick.com. With this boosted presence, now the team is set to officially launch its 2024 season as Stake F1 Team Kick Sauber at an event in London in early 2024.

The team encountered a high-profile start to the year, with renowned Canadian rapper Drake participating in the unveiling of the team’s new avatar on New Year’s Day. Reports suggest that Drake might also make appearances at some F1 races throughout the 2024 season.

In addition to naming rights, Kick.com will also have the honor of having Sauber’s F1 car, the Kick Sauber C44, named after it. Since F1 teams typically build and maintain their own vehicles, Stake’s new position also tags them as an F1 vehicle manufacturer.

F1 has been drawing in an increasing number of cryptocurrency businesses and exchanges, seeking exposure to the sport’s widespread global fanbase. Antecedents include OKX, which partnered with McLaren in 2022, and Crypto.com, a long-standing sponsor since 2021, which also backs the Aston Martin Aramco Cognizant F1 team.