-Crypto casino Stake has recently signed a $100 million deal with the Alfa Romeo Racing team, marking a comeback in crypto-related sponsorships.
-The agreement with Stake.com will see the racing team use the new name “Alfa Romeo F1 Team Stake” and will be a long-term collaboration.
-Stake has a history of partnerships with sports teams and personalities, including a deal with Everon Football Club and a collaboration with the rapper Drake for a Bitcoin giveaway.

Crypto casinos have been on the rise in recent years, and one of the largest platforms, Stake.com, has recently entered into a major deal with the Alfa Romeo Racing team. The Australian-based crypto gambling platform has committed to a $100 million sponsorship agreement, indicating a major comeback in crypto-related sponsorships.

This resurgence in the crypto market, particularly with Bitcoin’s recent rally of around 40% year-to-date, has seemingly led to an increased interest in crypto-related sponsorships again. The $100 million agreement with Stake marks one of the first and biggest sponsorships following the catastrophic collapse of FTX exchange which became known for its high-level and wide-reaching sponsorships.

The partnership between Stake and Alfa Romeo F1 Team has been named “Alfa Romeo F1 Team Stake”. Per the official statement, the deal is set to be a long-term collaboration and will offer unique opportunities for fan engagement through brand integration and activation. Bijan Tehrani, co-founder of Stake.com, stated that the company is dedicated to improving race weekends by providing unique experiences for fans and increasing engagement in the digital space.

Stake has a history of partnerships with sports teams and prominent personalities. In addition to the deal with Alfa Romeo, the company had previously signed an agreement with Everon Football Club, which was considered one of the most valuable sponsorships in the club’s history. Stake also collaborated with the rapper Drake for a Bitcoin giveaway.

The $100 million deal with Alfa Romeo Racing is a major step in the right direction for crypto-related sponsorships. It’s indicative of the renewed optimism in the markets and suggests that the worst of the bear market may be over. With Stake leading the way with its major sponsorships, it’s likely that more crypto-related collaborations will follow suit in the coming months.