The most popular sports car racing organization in Europe, Formula One, has announced that it has entered into a sponsorship with Interregional Sports Group (ISG) in terms of which gamers will be allowed to place bets during a race with the use of an in-play feature. The fact that the commercial rights holder with F1 Racing is an American, makes it possible for in-game betting also to come to America. If so, there is speculation that it may come through the Indy circuit and NASCAR.
Commencing with the Grand Prix Motor Racing circuit in the 1920s, the formula idea was a set of rules that all participants in the circuit’s car were required to follow. The Grand Prix circuit changed its name to Formula One after World War II and the brand has grown tremendously since it was purchased by Bernie Ecclestone in 1974. The racing teams are currently worth billions.
In terms of the sponsorship between ISG and F1, ISG makes a minimum payment of $100 million over five years. ISG can also sublicense betting partnerships to other betting brands around the globe. Formula One races are not only held in Europe but also in a number of other locations worldwide. The deal will include graphics on screens, logos on the cars and signs on the tracks with gaming logos having the option of being placed on Formula One’s digital and social media platforms.
The company is also endeavoring to develop deals with gambling entities for gamers to be allowed to place bets before the race begins. This will allow them to place live in-game bets, which is one of the latest innovations in sportsbooks.
