In-race betting markets

Leading sports data company Sportradar has announced a new range of in-race betting markets that it has developed alongside Formula 1. This is the latest move by the auto racing organization to cash in on its data rights.

latest move by the auto racing organization to cash in on its data rights

These betting markets were set to be introduced for the first race of the season, the Australian Grand Prix. The race is scheduled to take place this coming weekend in Melbourne. However, there are concerns that the event could be called off due to growing concerns over the deadly coronavirus.?

Deal worth $100m

This new deal means Sportradar will receive real-time data straight from the track on race day for all 22 races scheduled on the Formula 1 calendar. This data will then be accessible to sports betting operators, allowing them to offer accurate and innovative betting markets for bettors.

Formula 1 has had plans for enhancing in-race betting since August when it entered into a partnership with the Interregional Sports Group (ISG). This deal is reportedly worth $100m to Formula 1.

At the same time, it was revealed that Formula 1 would be working with Sportradar to offer this betting offering. The aim of this offering is to further increase engagement among fans for a sport that has been growing in popularity across the world. 

More than 20 different markets

As part of this offering, there will be more than 20 different in-race markets with live odds. As the season progresses, betting markets will expand to include odds for qualifying and practice sessions.?

Speaking about Formula 1’s excitement for the rollout of these new markets was Adam Crothers, head of digital media rights at F1. He said: “We believe this partnership will provide our fans with yet another platform to engage with the races in a manner that hasn’t been possible until now, as we head into another exciting year of racing.”

Coronavirus impact

It now appears that the Australian Grand Prix might not go ahead after McLaren withdrew from the race following one of its team members testing positive for coronavirus (COVID-19).

the Australian Grand Prix might not go ahead after McLaren withdrew from the race

This person is now in self-isolation in Australia. McLaren’s decision to withdraw was due to “a duty of care not only to McLaren F1 employees and partners, but also to the team’s competitors, Formula 1 fans and wider F1 stakeholders.”

The Australian Grand Prix Corporation is now considering the broader implications of this result and intends to prioritize the safety of fans, personnel, and teams.

Team bosses will attend a meeting on Thursday evening to discuss the issue. The Australian authorities will have the final say on whether the race will proceed or not.?

With numerous other sporting events being called off due to the virus, Lewis Hamilton expressed his surprise and shock at Formula 1’s decision to proceed with the race.