How Сlose is Formula One to the iGaming industry?
The recent global pandemic – COVID 19 has affected many sports events that had been scheduled for March and even the whole year. Even though Formula One races had been affected, they have developed a temporary solution that will enable drivers to race.
All the eSport races are scheduled to be held in Bahrain starting Sunday, March 22. There will be 28 laps in each virtual race, which is half the standard distance of the real races. Formula One fan from around the world can watch the virtual races on the official YouTube, Twitch, and Facebook channels. Each race will last 90 minutes, where the qualifying session is set to happen at the beginning of the competition.
With the recent developments, Formula One has expanded its network in the iGaming industry. Dozens of sportsbooks are now offering betting options on various eSports events, with huge prizes to be won. In addition, F1 bookmakers reward generous bonuses and frequent promotions to customers for using the platform.
This article will provide you with the information you may need to know about the merger between Formula One and the gambling industry.
In-Race Betting and eSports Outside the UK
Betting on eSports is one of the best ways to watch the on-going tournament. While the sports betting sites are benefiting from lost bets, the Formula One brand will be gaining more and fans from across the globe. As a way of marketing its brand, F1 created an eSports Channel – E-Sport Series – where fans come together to compete in the digital world. The Channel was launched back in 2017 and has contributed significantly to winning many followers. Since the inception of the channel, many marketing campaigns have been rolled out in order to convert regular F1 fans over to the virtual counterpart, especially those that are into gaming themselves. They have looked at many social media advertising opportunities to increase the awareness of the channel, as well as looking at the various SMS marketing company options. These SMS marketing software packages can look to take existing customer information for the purpose of mass messaging to inform existing customers of the new channel.
Since the number of eSport betting fans is also increasing at an alarming rate, we hope that Formula One will organize more events to meet the market demand. Furthermore, many gamblers are looking for non-UK slots with no deposit bonus to place a free bet, In fact, many sportsbooks have included eSports in their live betting section where punters can wager of races in real-time from wherever they are.
Profitable Deals and Sponsorship
Recently, Formula One publicized its sponsorship and data rights deal with one of the leading sports marketing companies – Interregional Sports Group (ISG). This company will help to enable live betting at the E-Sports Virtual Grand Prix Series that will run until May.
The deal permits ISG to sub-license betting partnership rights to choose betting brands from all parts of the world. Additionally, the company is determined to include branded onscreen, virtual trackside signage, regionalized, physical, and more to enhance the betting experience.
According to Liberty Media – the current owner of Formula 1 since 2016 -gambling partnerships boost revenue streams. The gambling partnership and sponsorship has included integrity service Sportradar, which helps ISG and betting companies to utilize data to create markets as well as spotting suspicious betting patterns.
Unlike in the past where Formula One was linked to tobacco companies, the changes in the advertisement regulations and market trends have made the eSports to shift to world-class brands like Rolex, Heineken, and Emirates. In addition, Liberty may impose further changes to improve the structure and salary caps for the teams.
Final Words
Betting on sports has never been this fan. The partnership between the gambling industry and Formula One eSports has given fans from around the world to win massive prizes, including jackpots. F1 has planned to organize exhibition races where fans get the opportunity to compete against real F1 drivers.
The introduction of in-race betting has made it much more exciting as you can follow all events as they happen. The best part of all is that you can take advantage of the statistics to predict the results accurately. We hope that partnership will lead to more betting options in the e-Sports market.
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