The search for Formula One’s first official betting partner is underway, following the development of new Formula One betting packages, which could be worth up to £76.8 million.
The packages, which were put together in conjuction with sports data company Sportradar and first announced in September, will provide betting operators with significant television exposure through TV graphics, social media channels and trackside signage.
The rights to sub-licence the betting packages have been won by Interregional Sports Group (ISG), an intenational sports media organisation, based in London. On Thursday, ISG announced that they had begun discussions with a number of global betting brands.
Speaking about the prospects for betting companies getting involved in Formula One, the joint chairman of ISG, Tony Ragan, said that the betting packages had a lot to offer operators:
This is a great opportunity for ambitious brands that want to extend their sportsbook’s reach and get ahead of the opposition.”
In-play betting markets
Liberty Media, the company that owns the Formula One championship, along with data and media rights partners are set to collaborate on the process of taking information directly from Grand Prix in order to enable in-play betting markets during the Formula One season.
Back in September, the Formula One managing director of commercial operations, Sean Bratches, said that the aim of the organisation was to boost fan engagement and he saw betting and data sponsorships, which are common in many sports markets, as one way to do this.
As part of the new betting packages, Formula One will also be able to benefit from Sportsradar’s experience in safeguarding sports integrity.
Steven is a seasoned freelancer writer from Coventry in the UK. He specialises in writing about the gambling industry and aims to provide unbiased, trustworthy and high quality content to the public. Whilst away from his freelance writing work he enjoys watching the football and following the F1.