Formula 1 (F1), the highest class of international racing for open-wheel single-seater formula racing cars sanctioned by the Fédération Internationale de l’Automobile, has unveiled a new gaming-oriented partnership.
ALT Sports Data Joins F1 as Official Betting Data Supplier
According to the official announcement, ALT Sports Data, a company that provides operators with a seamless path toward offering betting markets on alternative leagues, has joined the F1 family as its official betting data supplier.
This tie-up is expected to drive growth in Formula 1 sports betting, popularizing bets on its races. As a specialist in trading and consumer data for emerging betting markets, ALT Sports Data will support the F1 betting ecosystem. To that end, it will develop betting-focused real-time predictive analytics for Formula 1, as well as proprietary data and priced odds solutions for the wagering industry.
The odds will open up opportunities for fans to punters to place wagers on new and exciting markets. As both F1 and ALT Sports Data remain committed to promoting safe and responsible gaming, the latter company said it remained firmly committed to providing accurate, consistent and ratified data.
According to the announcement, this deal marks a “significant milestone in the evolution of Formula 1 betting.” The agreement will vastly expand market opportunities for the racing sport and provide fans with new ways to engage with its races.
F1 Wants to Popularize Racing Among Bettors
Emily Prazer, Formula 1’s chief commercial officer acknowledged the important role of sports betting in the global sports fan experience. As an organization committed to delivering new ways in which fans can engage with the sport, F1 expressed excitement about this tie-up and its potential to popularize racing among bettors.
We are delighted to partner with ALT Sports Data whose expertise in bespoke sports betting markets and analytics makes them the perfect partner to help us drive forward in this exciting new chapter.
Emily Prazer, CCO, F1
In the meantime, Todd Ballard, ALT Sports Data’s co-founder and chief marketing officer, lauded F1 as “one of the biggest and most prestigious global sports brands.” He added that the sport is currently followed by some 750 million fans all over the world.
It [Formula 1] has an unmatched combination of speed, strategy, and innovation so we are thrilled to reimagine the sports betting experience for both Formula 1 fans and sports bettors alike by leveraging our industry-leading capabilities in pricing, live markets, and micro-market solutions.
Todd Ballard, co-founder & CMO, ALT Sports Data
Ballard added that his team aims to improve F1 engagement, bolster the lie race experience and “drive meaningful connections” between Formula 1 and its audience.
The Agreement Comes Shortly After Deal with Allwyn
Although the partnership with ALT Sports Data is very significant for F1, it isn’t the first gaming-oriented deal the organization has penned.
Earlier this month, international lottery giant Allwyn was named as an official F1 partner. Karel Komárek, the Czech businessman behind Allwyn, noted that this agreement is a “significant milestone” in his company’s ambition to grow the brand on an international scale. It also represented a significant opportunity for F1 to tap into the growing popularity of gambling and lotteries.
