- F1 makes up 0.4% of global betting handle, according to Haworth
- Series currently has no global betting partner
Formula One’s director of commercial partnerships Jonny Haworth has said the series is concentrating efforts on developing an “engaging betting product” that offers multiple ways for people to wager on the sport.
Speaking at the BlackBook Motorsport Forum in London, Haworth acknowledged that Formula One lagged behind other sports when it came to betting but believes the series could unlock a whole new level of fan engagement through an enhanced gambling offering.
“We’re on a journey in the betting space at the moment,” Haworth said. “I think we make up 0.4 per cent of the overall global betting handle, which is pretty crazy for a sport the size of Formula One and with a sport that has low latency data at a high volume which is what drives betting.
“When you put all those things together there’s something there and we’re working incredibly hard to figure out how we open up an engaging betting product that enables people not to just look at outcome betting, but enables people to use the data of the sport to be able to engage in various different in-play betting [options].”
Formula One struck a partnership last month with ALT Sports Data, enabling fans to bet on new markets in the knowledge that the data behind the betting system is accurate, consistent, and ratified. At the time, the series claimed this would be a ‘significant milestone’ in the evolution of Formula One betting, expanding market opportunities and offering new fan engagement opportunities. The series has previously provided betting guides on its official website.
Formula One, however, is yet to embrace gambling as much as many other major sports properties, particularly in the US where revenue continues to climb as more states legalise sports betting. Indeed, sports betting revenue in the country increased by 25.4 per cent in 2024 to a new record of US$13.71 billion, according to the American Gaming Association (AGA).
While Formula One’s chief commercial officer Emily Prazer has stated that sports betting is “an increasingly important part of the global fan experience”, the series has not committed to a global betting partner, though it did have a regional deal with 188Bet in Asia.
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