Max Verstappen has been crowned champion but F1 also has its own title win. It’s become the fastest-growing sport and increasingly popular with gamblers.
Entain have revealed that since 2018, they have seen a 50% rise in the number of people betting on F1 has risen by 50%. Each season has seen an increase of around 30% in the total figure wagered.
Since the new American owners took over F1, they have been eager to increase the popularity of the sport. This has included increasing the amount of online coverage. Last season saw new records set as the Verstappen and Hamilton title tussle went all the way down to the very last lap of the season.
There was an increase of 49m new followers across all platforms.7 billion views have been recorded for views of F1 videos, a 50% increase. Total viewership is now up to 1.5 billion, a rise of 74%.
That’s despite the 2022 season being one that has been dominated by Max Verstappen wh clinched his second world title at the Japanese Grand Prix on October 9. He’s won 12 races this season and earned over 100 points more than any other driver. Just imagine how popular betting onF1 could become if we had another season with a close battle for the title.
The British Grand Prix at Silverstone is always a massive event. Entain saw a record amount gambled on who would win this year’s race. How many chose Carlos Sainz Jr as the winner though?
Not all bets are being placed on who will win the title or individual races. There are other markets available such as fastest lap, a podium finish or match betting between selected drivers. The three biggest countries betting on F1 with Entain (who own bookmakers such as Ladbrokes, Coral and Bwin) are the UK, Brazil and Germany who account for nearly 70% of bets placed. The UK leads the field with 35% of the market.
The Chief Commercial Officer at Entain is Dom Grounsell. He said that as the years pass their customers “are finding Formula 1 an increasingly exciting sport to participate in. The Netflix Formula 1 Drive to Survive series had played its part. That has been particularly important in the US as viewers are introduced to the drivers.
Their Chief Commercial Officer added: “We’re looking forward to the next stage of Formula 1’s exhilarating journey, and with our bench-strength of global sporting brands, are perfectly placed to keep our customers entertained and close to the action.”
