Carey vows Liberty will be responsible with F1 betting deal

Saturday, 10 november 2018, 11:15 , by Matthew Scott

Chase Carey insists Formula 1 will conduct their new betting sponsorship deal "in a healthy way" after a backlash from fans. F1 announced a $100million deal with Interregional Sports Group earlier this year, which will see in-play betting promoted with the use of live data.

Former owner Bernie Ecclestone was a long-time opponent of betting sponsorship and F1 having any kind of relationship, believing it could damage the brand worldwide. 

But marketing agency ISG have reached an agreement with Liberty and it is understood that they will pay the full $100m amount up front, with ISG then tasked with securing deals with betting companies on a local or global basis. 

Carey says the deal will only add to the excitement of races, at a time where sports betting is under the microscope in several countries across the world.

"I think with betting obviously we have responsibilities that go with it," he said. "We want to make sure it's done in a healthy way, we want to make sure it's done with proper integrity tools around it.

"But I think it's clear that fans enjoy it, I think it makes it more interesting, it makes it more exciting.

"As an American I look at in some ways like fantasy football, which is a great enhancement to the NFL. Here's a form of fun betting.

"I think that type of engagement in a sport widens its appeal to others, it makes the experience better, and obviously it's business opportunities for us.

"It's both a sponsorship element and providing a more expanded an interesting set of opportunities to engage with the sport and bet on things that may not be available."

"People can obviously bet on the sport today, so betting on the sport is not new, but I think we can provide new and interesting ways.

"I think we have to make sure we have integrity and disciplines around to make sure that with anything one bets on there is proper oversight, and it's properly policed and maintained."

 

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Comments (6)

  • Steve Ellingson
    Adding gambling will corrupt the sport. Something will happen, where team orders can change things very quickly. They bring up fantasy football. I hate this form. There's a loss of team loyalty between the bettor and their favorite team. If someone who is on your fantasy team is playing against your real team, you find yourself cheering for the opponent, just so you get points. What side bets can you put in F1? First crash? First driver/car out? Driver with fastest lap? It doesn't make sense, other than a $100mil paycheck for Liberty.
  • Dennis Iyo
    Marketing children with gambling of the sport. The great American way. Liberty Media true colors it's all about the money and not the sport.
  • Michael Haskey
    Can you bet on which lap team orders will be issued to allow the No 1 driver to win.
  • Khurshed Aga
    thanks Liberty for corrupting and lowering the sport
  • Michael Mondor
    Liberty is ruining F1

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