Formula 1 has teamed up with Interregional Sports Group (ISG) and Sportradar to announce a live in-race odds offering that is set to be launched ahead of the opening race of the 2020 season.
ISG is F1’s sponsorship and data rights partner and the new betting initiative was first trialled as part of an exclusive partnership. Sportradar said the agreement will provide the “most comprehensive pre and live race odds available”.
Current pre-race odds already in place include driver markets such as winner-podium and top-10 finishes, as well as constructor markets, group winners, drivers to be classified, race head-to-heads and pole position head-to-heads.
The agreement has resulted in Sportadar’s live-odds team utilising never-before-released historical F1 data to create new live odds models. These models will be launched ahead of the 2020 season opener at the Australian Grand Prix.
The offering will initially include around 30 unique markets during qualifying and on race days. The markets will be built based on exclusive data F1 has made available.
The offering will be further enhanced by markets beyond the podium positions, with in-team competition and driver head-to-heads developing on a race-by-race basis. Sportradar’s integrity services will also be used to protect F1 from potential match-fixing risks.
Tony Ragan, Joint Chief Executive at ISG Group, said: “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. The potential for the betting markets was perfectly illustrated at the French GP where Sebastian Vettel who, despite a later tyre change, secured the fastest lap in the dying seconds of the race.”
David Lampitt, Managing Director of Sports Partnership at Sportradar, added: “F1 remains an untapped market for bookmakers, despite it being one of the richest data-driven sports in the world. This partnership enables us to roll out enhanced data-driven products, which will provide additional betting opportunities both prior to and during live races, creating the most comprehensive offering available anywhere.”