F1 has announced a new partnership with Interregional Sports Group and Sportradar to enable live betting during Grands Prix.
A press release from Formula 1 was issued on Tuesday outlining the terms of the deal which sees ISG and Sportradar using live track data to allow for in-play betting during races.
Details from the document state that ‘ISG will have the rights to sub-license Betting Partnership Rights – subjected 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’s commercial director Sean Bratches 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. 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.
“This deal allows us to develop new and exciting ways for Formula 1 fans around the globe to engage with the world’s greatest racing spectacle, while ensuring integrity with best practice oversight from Sportradar.”
Sportradar’s MD of Group Operations David Lampitt added: “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.
“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.”
This kind of endeavour will surely be a great way for the fans to be involved in the sport even further. It can also help in encouraging the gambling spirit in people. Betting has been present in almost every sport in the world. So it was only a matter of time before F1 joined the party.