With the sports betting segment gradually returning, Sportradar announced a series of news for live betting in the events of the main motorsport modality on the planet, Formula 1.
The aim is to draw more and more public attention to racing at a global level. With the sixth race of the season taking place this weekend, the Spanish Grand Prix, David Lampitt (managing director of Sports Partnerships at Sportradar) pointed out that betting platforms should not underestimate the innovations of the sport.
“In the past 20 months, we have worked closely with our Formula 1 colleagues to create something truly unique for the sports betting industry, a product that no other supplier can offer,” said Lampitt in an interview with SBC Notícias.
He added: “We use live historical data taken directly from the track to create new and expanded models of live odds that leverage our live betting products in F1. We are able to provide operators with the widest range of F1 betting markets, including 20 markets within the race that are exclusive to Sportradar. ”
Sportradar’s Director assesses growth potential of bets in the category
Also according to SBC Notícias, the Formula 1 fan base is around 500 million people with the potential to reach different markets during the official season, even though it is a very atypical year and with geographical limitations.
“Formula 1 is one of the few major sports that remains untapped in betting. For them, unlocking their data essentially creates a new betting opportunity for operators who previously did not have access to this data, ”said the director of Sportradar.
In Lampitt’s view, both the consolidated European markets as well as emerging markets such as Latin America can considerably expand the reach of live betting in Formula 1.
“For mature European markets, such as the United Kingdom, Italy and Germany, where F1 is extremely popular, live F1 betting is an untapped opportunity. Therefore, there is a real potential for growth among an engaged audience. In the same way, emerging markets like Brazil, again with a large F1 fan base, offer a significant future potential ”, he evaluated.
Immersion of speed fans
In addition, the professional considered that the guesses during the races tend to be the main factor for the growing popularity of the races, but it is still necessary to invest in improving the immersion of the motorsport fans.
“Live betting during the race is where we see the greatest growth potential; however, it’s also important that we improve the customer experience during the race to keep fans engaged, “he said.
Lampitt concluded: “We have developed a range of visualization tools that are driven by our data. For example, our F1 Live Race Tracker is updated in real time and provides bettors with all the information they need during an F1 event.”
