Formula 1 has reached an agreement with Interregional Sports Group (ISG) to expand the sport's betting offering, bringing it in line with many other global sports, such as Football and Tennis.
The deal will see the development of 'in-play' betting, which gives fans far greater options when placing a bet, for example they could bet on when the next Safety Car will come out, live during the race.
As part of the deal, ISG will have the right to sub-license Betting Partnership Rights to select betting brands around the world, subject to regulations, including; Regionalised branded on-screen graphics; Physical and virtual trackside signage; Digital integration across F1’s rapidly expanding digital and social platforms.
F1 will also benefit from the expertise of Sportradar Integrity Services, the world’s leading supplier of integrity solutions to sports federations, leagues, clubs and state authorities to support them in the fight against betting-related match-fixing and corruption.
F1's managing director of commercial operations, Sean Bratches, said of the deal: "F1 is delighted to partner with ISG, which has demonstrated its impressive global capabilities through working with the likes of Serie A and La Liga. We are also hugely excited to work with ISG and Sportradar on making the most of the data which is generated at every Grand Prix.
"Sportradar are world leaders in data distribution and share our passion to make F1 a significant player in this field. Data and sponsorship partnerships like this are common practice across almost all premium sports and this is the latest step in our mission to make Formula 1 the world’s leading sports entertainment experience.
"This deal allows us to develop new and exciting ways for Formula 1 fans around the globe to engage with the world’s greatest racing spectacle, while ensuring integrity with best practice oversight from Sportradar."
Tony Ragan, joint executive chairman, ISG Group added: "We are industry leaders in helping rights holders segment global audiences through the use of regionalised virtual advertising. F1’s worldwide audience is a perfect fit for that approach. Across the ISG Group we enhance rights holder and brand relationships using our expertise in technology, unique content development and comprehensive activation programmes. We will be working with Sportradar to create products that will be both exciting and engaging for the global betting public helping them feel even more involved in what is one of the most thrilling sports in the world."
Further details of this multi-faceted deal will be formally announced to the betting industry at Wednesday's Betting on Sports 2018 conference in London.