Formula 1 enters betting market
Formula 1 to offer live betting after 40 year ban
Formula 1 (F1), the world’s most prestigious motor racing competition announced a ground-breaking sponsorship and data rights commercial partnership with Interregional Sports Group (ISG). The agreement sees the firm produce a F1 betting offering and ultimately enhances the fans overall experience.
In a pioneering partnership for the sport, Formula 1, ISG and will work with data taken directly from the track on race weekends to bring F1 into line with other major global sports.
As part of the deal, ISG will have the right to sub-license Betting Partnership Rights to select betting brands around the world, subject to regulations, including, regionalised branded on-screen graphics, physical and virtual trackside signage and digital integration across F1’s rapidly expanding digital and social platforms.
F1 will also benefit from the expertise of Sportradar Integrity Services, the world’s top proivder of integrity solutions to sports federations, leagues, clubs and state authorities.
Sportradar, with its Fraud Detection System already partners with most of the world’s top sports rights holders including FIFA, NBA, NHL, IIHF, ITF, World Rugby, ICC, UEFA, AFC and CONMEBOL.
Sean Bratches of Formula 1 said, “F1 is delighted to partner with ISG, which has demonstrated its impressive global capabilities through working with the likes of Serie A and La Liga. We are also hugely excited to work with ISG and Sportradar on making the most of the data which is generated at every Grand Prix.
Bratches added, “Sportradar are world leaders in data distribution and share our passion to make F1 a significant player in this field. Data and sponsorship partnerships like this are common practice across almost all premium sports and this is the latest step in our mission to make Formula 1 the world’s leading sports entertainment experience.”
Tony Ragan of ISG Group commented, “We are industry leaders in helping rights holders segment global audiences through the use of regionalised virtual advertising. F1’s worldwide audience is a perfect fit for that approach.”
David Lampitt of Sportradar remarked, “Sportradar is the global leader in the area of sports data distribution and monetisation; as well as integrity services in the fight against betting-related fraud and sports corruption.
Lampitt concluded, “Through this collaboration with Formula 1, we’re delighted that fans will receive an exciting and safe betting experience and we look forward to further developing the F1 fan experience.”
The details of this multi-faceted deal were formally announced to the betting industry at Betting on Sports 2018 conference in London. Betting in Sport is the largest international sports and hosts a number of leading firms in the industry, such as BetConstruct and BCI.
However, it is not clear cut on whether gambling can be permitted across the board globally. Some of the countries that host F1 have local laws that ban or restrict gambling advertising during live events. Next, F1 heads to the Russian Grand Prix on Sept 30.
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