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Formula One secures first ever gambling sponsor
Global motorsport series Formula One has announced its first ever gambling sponsor, online bookmaker, 188Bet. The deal is focussed on the Asia region, and covers a five-season span.
The move is considered to be a gamechanger as the betting sponsorship category was outlawed until the regime change in 2018 when Bernie Eccelestone, who had run Formula One for almost 40 years, sold to Liberty Media.
Soon after taking over, Liberty Media outsourced the category to Interregional Sports Group (ISG), a London-based marketing agency, with a lucrative (estimated) minimum guarantee of US$100m. The move was heavily criticised, but it was justified by Chief Executive Chase Carey as being an experience-enhancer.
Sean Bratches, managing director of Formula One’s commercial operations, also described the deal as a “fan-centric move”, as millions of viewers had grown accustomed to gambling partnerships in other sports.
The deal, which is effective immediately, runs until the culmination of the 2024 Formula One Championship. It will involve 188Bet branding featured exclusively on the series’ Asian broadcasts – through virtual trackside branding managed by ISG with additional marketing opportunities for the brand across Formula One’s digital and social platforms.
It also sees the bookmaker gain exclusive ownership of the F1 Play predictor app for the Asian sports betting market and receive Formula One betting data from data firm Sportradar.
188Bet’s new partnership comes ahead of a 2020 Formula One season which will feature one additional Grand Prix in the Asian market: Vietnam has been added to the calendar for the first time as one of four races in the region.
19th July 2019 - Melbourne secures Formula 1 Grand Prix until at least 2025
11th October 2018 - New women-only motorsport series aims to develop future Formula 1 stars
29th April 2018 - Formula 1 looks to engage younger generation of fans
25th November 2016 - Abu Dhabi ready to benefit from Formula One season finale
8th September 2016 - US-based media interests confirm US$4.4 billion acquisition of Formula 1
16th December 2015 - Disney to entertain young racegoers at Formula 1 Australian Grand Prix
14th September 2015 - Melbourne secures Formula 1 Grand Prix until 2023
31st March 2015 - Malaysia extends Formula One race contract
19th December 2014 - Korean Grand Prix set for Formula One return
11th November 2014 - Football NSW sees winning formula with visual analytics
5th November 2013 - Abu Dhabi Formula One Grand Prix boosts visitor arrivals
17th June 2013 - Phuket to host Thailand’s first Formula One race
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