Editor’s Note: This article on Formula One and gambling is posted in collaboration with an outside sponsorship client. The opinions and information contained within do not necessarily represent Frontstretch and its staff.
Gambling is one of the most rapidly expanding industries in the world and its relationship with one of the greatest car racing series is well documented. Betting on Formula One has enhanced the marketing of the gambling industry effectively. The sporting company has concurred on a sponsorship deal which is set to increase the gambling activities across a number of fans.
In this relationship, both parties are set to benefit through their marketing and development strategies. Both sides will accrue a number of advantages at the end of it all and the deal creates room for a friendly sporting environment.
In this article, we take a glance at how this new partnership could change the sport for fans.
Relationship With Bookmarkers
Formula One ads are the aim of almost all European betting companies presented at CasinoGap.org. The majority of the bookmakers in the UK will benefit a lot from this patronage. Formula One provided plenty of race followers but, apart from that, it has also provided a nice way to recompense and advertise more of the bookmarkers. The rewards include placing an advertisement on the billboard during the races and heighten chances of purchasing a Euro million lottery ticket. Since the entire sponsorship will definitely increase gambling and betting activities, sportsbooks tend to benefit from all sides.
While UKGC had devised policies such as Gamstop to aid problem gamblers with self-exclusion options, Formula One isn’t strictly under the purview of the scheme. Hence the advertisement collaboration between bookmakers and Formula One could turn out to be very lucrative. However, the pitfalls include negative influences that the ads could have on problem gamblers already reeling from gambling addictions. Formula One will equally have a right of sub-licensing betting partnerships to a selected few betting brands all over the world. On the contrary, the other policies such as Gamban, Gamcare, Gamban apply to online casinos and addicted players looking for self-exclusions.
Partnership With ISG
Formula One, the world’s most distinguished motor racing competition, recently signed an innovative sponsorship and data rights commercial partnership with Interregional Sports Group (ISG) which will bring fans closer to the game they love. The Interregional Sports Group, for their part, agreed to make it possible for bringing F1 into line with other major global sports by enabling the development of all new in-play betting markets during Grand Prix events. ISG will have the full capacity to sub-license Betting Partnership Rights for selecting betting brands around the world as a part of the deal.
Car racing is the most popular activity in the UK, and therefore coming in with the right marketing strategy would easily make a good reputation for F1, attracting a number of new fans. The main aim is to make F1 the world’s leading sports entertainment experience and that’s why the partnership was created.
Betting Experience For Fans
Since the emergence of the sponsorship deal, Formula One fans have been enjoying an electrifying betting experience. The attention of the spectators was drawn to the deal that witnessed betting companies get branded during racing matches. The majority of the fans did not miss picking a lottery whilst a large number played other games on reputable bookmarkers, interesting games including bingo online with huge followers having the lottery tickets that were readily available.
This deal created a good relationship among the two sports, helping each other to achieve their target goals. Formula One fans could easily bet and receive real money in any of the available games, even landing a jackpot or, alternatively, a nice promotion.
Although sports betting is viewed through negative eyes by many, it is interesting to note the benefits that the industry has had on a multitude of sports like football, rugby, horse racing, basketball and baseball. A hefty amount of investment is brought into the sports that betting companies such as BetWay, Bet365, 22Bet are involved with. Getting along with a large number of fans is a nice venture for most of them, especially gambling which is currently being considered as an e-sport. This rewarding experience should be practiced by other sports to boost the morale of other indoor sporting activities which are gaining popularity. Soccer sports clubs like Liverpool, Arsenal and Manchester United endorse gambling, though the recent changes in UKGC guidelines have put several restrictions on such endorsements. At the end of the day, sports betting helps increase the visibility of a sport while bringing in additional sponsorship.
So whilst a relationship between F1 and betting may not sound ideal, the relationship does offer a lot of positives, setting both sides up for progressive development over the long-term.