Formula 1 Expands Betting Market and Attracts Fans
Growing Interest in F1 Betting
Formula 1 is actively developing the sports betting sector, despite it currently accounting for just 0.4% of the global betting market.
According to Nielsen Sports, in 2024, the championship’s fan base reached 826.5 million people, a 12% increase compared to the previous year.
Particularly notable growth was observed in China — up by 39% — thanks to the return of the Shanghai Grand Prix.
Why F1 Lagged in Betting
Johnny Haworth, F1’s Director of Commercial Partnerships, notes that one of the main reasons for the low interest in betting has been the absence of live betting. Currently, bets are only accepted before the race begins, which reduces fan engagement.
“We see huge potential in betting for engaging viewers. It’s not just about predicting the race outcome but also about analyzing data during the race,” Haworth says.
New Technologies in Formula 1 Betting
F1 has partnered with ALT Sports Data, which will develop tools for real-time betting. This company specializes in data analysis and will offer:
- Real-time predictive analytics;
- Special algorithms for calculating odds;
- Access to unique F1 data for betting.
Interactive Approach to Betting
One of the goals of this innovation is to make race viewing more interactive. With billions of data points collected from the cars, fans will be able to not only bet on the winner but also participate in live betting — for example, guessing who will make the fastest pit stop or which driver will set the best lap time.
Challenges and Limitations
Despite ambitious plans, F1 faces several challenges:
- Gambling bans in countries with strict laws (e.g., Islamic countries hosting four championship races);
- Team orders that could influence betting outcomes;
- Age restrictions, as many fans are young, and F1 must consider the ethical implications.
Outlook for the 2025 Season
The 2025 season promises to be particularly exciting: 24 races are scheduled, and competition between teams remains fierce.
Last year, four different teams won races, and seven drivers stood on the top step of the podium. This makes live betting even more appealing, as predicting race outcomes becomes more challenging.