The horsepower on the track at Albert Park this weekend may be different from what we will see at Moonee Valley or Rosehill, but the importance to the wagering industry of a Formula 1 event is arguably greater than that of a Group 1 race. has become an F1 sponsor.
Global gambling companies such as are gaining traction in the glamour sport of Formula 1 racing. (Photo by Michael Potts/BSR Agency/Getty Images)

The resurgence of the profile of F1 in recent times has coincided with the desire for global betting companies to get their associated ‘lifestyle’ brands side by side with the superstar drivers and teams on the global motorsport circus.

The most prominent of these is an Australian-backed company, the cryptocurrency-fuelled online casino that is the brainchild of Australians Ed Craven and Bijan Tehrani.

Stake has most of its operations based out of Melbourne, only a couple of kilometres from the track, but is officially headquartered and licensed in Willemstad, Curacao, a Caribbean island that has become the centre for such companies. has become wildly commercially successful powering Craven to billionaire status, as he buys up mansions in Toorak and sets up in the same neighbourhood as the richest people in the country.

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