Stake.com links up with motorsports’ Fittipaldi brothers

Cryptocurrency betting and online gaming operator Stake.com has secured a partnership with Formula 1 motor racing driver Pietro Fittipaldi and his brother, Formula 2 star Enzo Fittipaldi.

The Brazilian brothers will serve as Stake.com’s representatives in the country for the 2022 season.

Pietro Fittipaldi, who drives for the Haas F1 Team, will work with Stake.com to provide fans with analysis of each race, share paddock insight via a monthly Twitch stream and take fans behind the scenes with exclusive content across Stake.com’s social channels.

Charouz F2 Racing team driver Enzo Fittipaldi will also collaborate with his brother to create content and host regular Twitch streams.

“We’re delighted to welcome Pietro and Enzo Fittipaldi to the Stake.com team,” Stake.com sponsorships manager Dominic Rae said. “They are two of the most exciting young drivers around and come from a family steeped in F1 history.

“We look forward to working with them on a range of content initiatives over the coming months to bring all the drama of this season’s championship to life for F1 fans in Brazil and beyond.”

The partnership with Pietro Fittipaldi marks Stake.com’s first foray into F1 and expands its commercial presence in the professional sports market, having already partnered with English Premier League football club Watford, former Argentinean footballer Sergio Aguero and the Ultimate Fighting Championship.

The deal come after Brazilian deputies last month finalised the amendments in the country’s bill to legalise gambling, including requiring suppliers to receive 40% of gaming revenue and adding additional taxes for operators.

Bill 442/1991 – which would legalise casinos online gaming, horse racing, slot machines, bingo and jogo de bicho – was passed by the Chamber of Deputies earlier in February, sending it on to the Senate.

The bill provides that gaming machine suppliers for bingo and casino will be entitled to receive a 40% cut of gross gaming revenue, leaving operators in these verticals with the other 60%.

The initial bill also stated operators would pay a 17% tax (CIDE) on GGR, and no other tax or social contribution.

However, the Brazilian constitution expressly prohibits the federal legislature from granting state or municipal tax exemptions. As a result, operators now will not be exempt from the Municipal Tax on Services (ISS), which will fall between 2% and 5%, and must pay that as well as CIDE.

Author: Raymond Fleming