Sportradar to launch first official F1 in-play product
Provider given access to never before-released historical F1 data to create new live odds models
Sportradar has announced plans to launch Formula 1’s first official in-play betting product thanks to a deal with the sport and the data rights partner Interregional Sports Group (ISG).
Under the agreement, Sportradar has been granted access to never-before-released historical F1 data to create new live odds models for races.
The new in-play product is set to be launched ahead of the 2020 season at the Australian Grand Prix in Albert Park.
Sportradar said it would initially offer approximately 30 unique markets during qualifying and on race day, with new markets potentially including driver head-to-heads and in-team competitions.
“F1 remains an untapped market for bookmakers, despite it being one of the richest data driven sports in the world,” said David Lampitt, MD of sports partnership at Sportradar.
“This partnership enables us to roll out enhanced data-driven products, which will provide additional betting opportunities both prior to and during live races.
“We’re looking forward to continuing to work with F1 and ISG to create insights from their unique data sets in a way that will both excite the market and help build customer engagement and interest across the sport.”
An F1 car has around 120 sensors in its beaming data about speed, timing and pressure back to crews.
ISG bought the rights to F1 data and marketing opportunities earlier this year, in a deal thought to be worth around $100m over five years. The agreement also paved the way for betting sponsorship of F1 for the first time in 40 years.
Tony Ragan, joint chief executive at ISG, added: “F1 already has a huge global fan base, unrivalled television audiences and provides a thrilling experience for both experts and newcomers to the sport.
“The potential for pre-race and in-race betting is huge and F1 itself is developing in a way that will continue to fuel opportunities for additional markets. This season’s introduction of a Championship Point for the fastest lap is a case in point.”
Betgenius is working on a similar deal with NASCAR in the US.