Stake F1 Team's Gambling Links Could Be Problematic
The Sauber F1 team just got a new name after ending its partnership with Alfa Romeo. For 2024 and 2025, the team will be called the Stake F1 team, inspired by Sauber's sponsor Stake, who entered into a deal with the team last year in February. However, even before the F1 season has begun, the new name is being questioned, and it could prove problematic at some Grand Prix venues worldwide.
The problem lies in Stake's nature of business. Though Sauber calls its sponsor a betting, lifestyle, and entertainment brand, Stake is a crypto casino, that offers participants a platform where they can gamble with cryptocurrency.
However, things could get a bit fishy if you try to find out where Stake operates from. The holding company is registered in Curacao- a Dutch Caribbean island. But as per a report by Australian outlets the 'Sydney Morning Herald' and the 'Age,' the company runs its operations from Melbourne, Australia- a country that banned online casinos in 2001.
Stake's parent company Easygo Gaming, has its founders Bijan Tehrani and Edward Craven, operating from Australia, as well as the other company employees. Despite the ban, the country has permitted the company to function as long as it does not advertise its services and offer them to Australians. Though there isn't a direct problem, Sauber could face hurdles during the Australian Grand Prix since the team brands itself as the Stake F1 team.
The branding problem isn't just limited to Australia. There are several other host countries on the Formula 1 calendar that have banned gambling advertisements, including Sauber's home country Switzerland.
Look at the long 24-race 2024 calendar, and you'll notice several host countries, such as Bahrain, China, Brazil, Saudi Arabia, United Arab Emirates, Singapore, Japan, and Qatar, that have banned gambling.
While bans are not new to the sport, the ban could get problematic if the name of the company, whose main product or service is banned, is integrated into the team name, such as Stake. So the question is, will Sauber have to rename itself this year? Not necessarily, but the team might explore creative alternatives to navigate around the restricted areas.
The Solution
One solution to the name problem was implemented by Sauber in 2023. In places where the name Stake could get controversial, the team could switch to the name 'Kick' instead, which is a streaming platform owned by Stake. So, at the end of the day, the returns go into the same pocket.
Therefore, if the Sauber team adopts the name "Kick F1 Team" at specific Grand Prix venues in 2024 and 2025 until Audi assumes full control in 2026, you'll know the reason behind it.
Sauber Press Image