Chase Carey thinks that betting widens F1's appeal.GETTY IMAGES
Formula 1 CEO Chase Carey defended his decision to "immerse the sport in online betting," insisting that this business plan will "enhance fans' enjoyment of the spectacle," according to Jamie Casey of GAMBLING.com. In September, Liberty Media announced a sponsorship and data rights deal with marketing firm Interregional Sports Group which is "set to change the in-play betting experience in F1." The agreement, which is reportedly worth at least $100M across five years, will provide ISG the right to sub-license betting partnership rights to the "best F1 betting sites." Carey defended the agreement "amid growing criticism," comparing the deal to the "fun" form of betting that has worked for fantasy football in the NFL. Carey: "I think with betting, obviously, we have responsibilities that go with it. 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. I think that type of engagement in a sport widens its appeal to others, it makes the experience better, and obviously it's a business opportunity for us." He added, "It's both a sponsorship element and providing a more expanded and interesting set of opportunities to engage with the sport and bet on things that may not be available." As part of the deal, ISG and the betting brands it sub-licenses to will have support from Sportradar, which is an expert in the area of sports integrity, betting-related fraud and corruption. Carey said, "I think we have to make sure we have integrity and disciplines around to make sure that with anything one bets on there is a proper oversight, and it's properly policed and maintained" (GAMBLING.com, 11/14).
