Eccentric New Billionaire in F1: Unveiling the Man Behind Stake

Edward Craven, a multimillionaire who made his fortune through cryptocurrencies and his online gambling company Stake, has become the title sponsor for the Sauber F1 team, which will be renamed Stake F1 Team for the next two seasons.

Highlights

‣ The Sauber name in F1 will be replaced by Stake F1 Team for the next two seasons, named after a successful online gambling company.
‣ Edward Craven, a 28-year-old Australian multimillionaire who has become rich thanks to cryptocurrencies and Stake, is the driving force behind Stake and Kick, Sauber’s second title sponsor.
‣ Craven is a sports enthusiast and has already sponsored football clubs Everton and Watford. For the next two seasons, he will pay a large sum to be the title sponsor of the Stake F1 team.
‣ Craven likes to surround himself with famous stars, including Canadian rapper Drake and former footballer Sergio Aguero, who are part of the Stake inner circle.


Alfa Romeo’s been the title sponsor for five seasons, right? Well, we thought Sauber was making a comeback to F1. Maybe until Audi showed up. But, plot twist! Sauber’s now gonna be known as Stake F1 Team for the next couple of seasons. And who’s Stake, you ask? Just a wildly successful online gambling company.

Now, the guy pulling the strings behind Stake and Kick (Sauber’s other title sponsor) is this 28-year-old Aussie millionaire, Edward Craven. Made his fortune in cryptocurrencies and Stake. To give you a sense of the scale, he once announced on his X account that Stake had a whopping 65,812,020,085 bets placed in 2023.

Meet Ed Craven

The Australian reports that his company rakes in about four hundred million dollars daily. Craven’s got two mansions, one’s worth forty million dollars, the other? A cool eighty million. So, it’s no shocker that he’s one of the wealthiest folks down under.

Craven’s a sports nut. Stake’s already sponsoring football clubs Everton and Watford. Plus, he’s a regular at UFC fights. Stake’s been associated with (then) Alfa Romeo in recent seasons. Now, for the next two seasons, Craven’s shelling out big bucks to be the title sponsor of the Stake F1 team [Sauber].

10 years on, still building, and we haven’t needed to get in the octagon together pic.twitter.com/YXu629pglN
— Eddie (@StakeEddie) February 15, 2023

Craven’s Star-Studded Circle

Craven’s got a thing for hanging with celebs. Take Canadian rapper Drake, for example. He’s not just a buddy of Craven’s, but also a Stake ambassador and now tied to Stake F1. Former footballer Sergio Aguero and Canadian rapper Karan Aujla are part of the Stake inner circle. So, Sauber, once seen as tidy and almost dull, has gone full-on glam with Craven’s arrival. That’s pretty clear.

Albert Ramirez
Albert Ramirez
Albert Ramirez is a senior writer at F1Highlights.com. With a passion for motorsports, Albert brings a unique perspective to the world of Formula One. With over five years of experience as a sports reporter, he has honed his skills in capturing the essence of the sport.

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