F1 crypto sponsorships proving a fast way to lose your money

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Updated November 11, 2022 | Published November 11, 2022

2 mins read

Crypto sponsors have taken over F1 but the stats show constructor loyalty loses you money.

Cryptocurrency brands have taken over Formula 1 sponsorship in recent years – but backing your favourite constructor on the exchanges is proving a fast way to lose your cash.

Ferrari, Mercedes AMG and Alfa Romeo are among those that boast crypto sponsors in 2022 but recent findings from Twitter user @FormulaNetflix show constructor loyalty isn’t a good investment.

The account shows that those who invested €10 in Floki Inu when it partnered with Alfa Romeo would now only be sitting on a fortune of €0.9 and it doesn’t stop there.

Any loyal fans of Ferrari who chose to invest in Velas token when it partnered with the Italian firm would have around €0.5 in their crypto investment pot.

It’s a similar story for Mercedes AMG’s crypto partner FTX Token with that same €10 investment now only worth €0.3. Alpha Tauri partner Fantom also lost 95% of its value so far this season.

The F1-partnered crypto brand with the best result so far is Tezos with only an 85% decrease in price with €1.5 left out of an initial €10 investment.

@FormulaNetflix’s figures shows that a €50 wager across those five partnerships would now be worth just €3.40 – a whopping loss of 96.8% of initial investment.

The figures comes as a warning to potential investors both in F1 and other sports as cryptocurrency partners continue to do big deals with large constructors, clubs and organisations.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by David Kent

David has more than a decade of sports betting and sports writing experience working with some of the biggest names in the industry. He focuses on articles covering these subjects including how crypto is transforming sportsbooks.
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