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Brazil – April 9, 2025 – www.zonadeazar.com Formula 1 wants to expand its presence in the sports betting market and is seeking new partnerships to develop a more engaging system for fans. This revelation was made by Jonny Haworth, the category’s Commercial Partnerships Director, during the BlackBook Motorsport Forum in London.

Despite having a global audience estimated at 10% of the world’s population, F1 accounts for only 0.4% of the sports betting market. Additionally, unlike other sports such as soccer and basketball, the category still lacks a global betting partner, maintaining only a regional agreement with 188Bet in Asia.

“We are working hard to have an engaging betting product that allows people not only to predict final results but also to use data for live betting. Our journey is to seek more space in the betting market at this moment,” said Haworth.

Formula 1’s growth strategy in the betting sector is particularly focused on the North American market, which has seen significant growth in recent years. According to data from the American Gaming Association (AGA), sports betting generated $13.71 billion in 2024, a 25.4% increase compared to the previous year.

Haworth expects this expansion to accelerate from 2026 when a new technical regulation comes into effect, potentially increasing the unpredictability of race outcomes.

“There are many different ways to engage with the sport beyond just ‘sitting and watching’ a two-hour broadcast. And this (expansion of the betting market in F1) is a way that generates a lot of engagement,” he added.

Industry experts believe that Haworth’s statements reinforce the importance of the betting market for sports in general.

For Dan Stone, Marketing Director at inplaySoft, a provider of solutions for iGaming platforms, this development presents great future prospects.

“It’s no surprise that the betting industry has attracted attention in the F1 world. Regulated markets across Latin America offer an incredible opportunity, with an estimated GGR of $3 billion for sports betting in Brazil alone by the end of this year. And from a demographic perspective, there is not only the right audience base for F1 but also one with longevity. Anyone who has watched Netflix’s Drive to Survive knows that the sport has a unique rule of attraction among fans and maintains enviable levels of loyalty. That’s why the prospect of exploring this market from a betting angle is huge,” he stated.

Talita Lacerda, Chief Operating Officer of Ana Gaming, also sees this development as a natural evolution for the category.

“I believe it is a natural path for Formula 1, following what is already happening in other sports. We are talking about a regulated, transparent market with clear legal and social responsibility rules. That’s why I see it as inevitable for F1 to embrace the sports betting universe—especially as it is an event that brings entertainment and excitement to fans worldwide,” she explained.

Vinicius Nogueira, CEO of BETesporte, highlighted that F1’s low participation in the betting market is due to the current live betting model, which is still not as developed as in other sports.

“Indeed, the F1 market has a lower volume and does not even appear in the Top 10 most bet-on sports in Brazil, for example, and this has to do with the real-time odds offered, which is something common and well-segmented for many years in other sports, especially soccer. I think this suggestion could bring positive changes, as well as provide a new source of revenue for the industry,” he pointed out.

Leonardo Henrique Roscoe Bessa, consultant to the Federal Council of the OAB and partner at Betlaw, a law firm specializing in gaming and betting, emphasized that a more attractive betting model could be beneficial not only financially but also for audience retention.

“F1 has different characteristics from other sports, and introducing new services focused on what happens during races could be an appealing way to capture fans’ attention, especially those who follow the sport only in specific events and not throughout the season. The statement by the commercial partnerships director also reinforces how the growth of this serious and regulated market can bring not only new revenue but also a creative way to generate engagement for different audiences,” he added.

With the sector’s continuous growth and Formula 1’s search for new ways to engage its audience, the inclusion of live betting and new partnerships could represent a strategic leap for the category in the coming years.

Edited by: @_fonta www.zonadeazar.com