F1 betting: Liberty Media strike huge deal to sell gambling sponsorship

Liberty Media have bucked with tradition and secured a long-term deal to sell gambling sponsorship rights in a deal thought to be worth $100m over five years, as the American owners look to develop new revenue streams for the brand.

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 Interregional Sports Group (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.

As part of the deal betting sponsors will be able to advertise on electronic boards at race tracks and display graphics on-screen including, potentially, live odds on the race itself.

Managing Director of F1's commercial operations, Sean Bratches, told the Financial Times that deals such as this increase revenues to the teams and, therefore, should enhance the spectacle for the viewer.

He said: “There’s an understanding that sponsorship injects economics into the sport that improves the sport to the fan. You have to balance that with how you serve fans. This is an opportunity that serves both of those masters.”

It remains unclear whether there are additional offerings to potential collaborators as part of the deal, but it represents a significant sea change for a sport where betting has been largely an afterthought, and may now become front and centre of the race experience.