When the British Grand Prix was inaugurated at Silverstone in 1950, Formula 1 cars were painted their national colours. Drivers represented their countries and had everyone see their flag. There was some small-time branding from companies that supplied parts such as tires and fuel. Any other advertising-related sponsorship was non-existent.
Fortunately, this changed in 1968 when BP and Shell withdrew from sponsoring Formula 1 and Firestone began charging for the tyres used in racing cars. There was suddenly a need for money and advertising sponsorship provided the revenue that was required. This decision changed the face of the F1 and saw several deals, which now include operators in the iGaming industry.
How do sponsorships work?
There is a lot of glamour and money that exchange hands in the Formula 1 motor racing industry. It brings in many billion dollars each year, with successive events bringing in more money than previous ones.
About 40% of the money comes from TV rights and 30% comes as fees from the various event organisers. A further 25% comes from sponsorship deals and the final 5% comes from other sources. In the recent past, the gambling industry has been a strong player in the Formula 1 sponsorship market. It supplements the F1 industry in various ways.
For example, there are several motor racing-themed slots available to players that may get publicity by sponsoring the event. Other casino providers also offer a chance for their players to bet on the outcome of these events in special iGaming tournaments or sports betting.
On the other hand, many of the people that participate in iGaming platforms are likely to watch Formula 1 events. New Zealanders looking for an opportunity to play F1 games will find Platinum Play Casino tested and reviewed information vital to enable them to make informed decisions about joining it for racing games.
iGaming platforms that work with F1
Several iGaming platforms have worked with Formula 1 in the recent past. However, most of the sponsorship deals are one-year contracts. So, there is always a new sponsor that comes up every other year. Here are a few that have entered into deals with the racing brand.
Entain and McLaren Racing
In 2021, Entain, a leading global gaming, sports betting and interactive group, entered into a sponsorship deal with the McLaren team. This deal gave it special access to content that only a few Formula 1 fans had access to. This content was to be availed of through the PartyPoker and PartyCasino brands.
In addition, the sponsorship deal gave Entain the leeway to create TV ads that featured the McLaren e-gaming team. These ads ran all the way up to the end of December, when the event came to an end.
When speaking about the deal, Paris Anatolitis, the commercial director at Entain and the managing director of Party Brands, said that the platform was angling to become the prime destination where iGaming customers from around the globe can enjoy games and share experiences around big gaming events such as the F1. Entain fans got a chance to enter super fan competitions, see new exclusive videos of the McLaren racing team and play exclusive McLaren F1 games.
Lagardere Sport and Entertainment and the China Grand Prix
In 2017, Formula One was looking for a way to boost its audience numbers at the China Grand Prix. This is why it entered into an agreement with Lagardere Sport and Entertainment. The media firm opened its doors in 1992 and has been key to promoting gaming events across the country. It has also worked with local gaming platforms across Asia to drum up support for gaming across the Asian continent.
The then F1 marketing director, Sean Batches, said that the company was happy to work with leading motor race circuit owners and gaming entertainment leaders that have access to markets across the greater Asian continent. He added to say that the gaming firm had a total viewership of above 8.8 million fans who have attended events since 2004.
188BET sponsors Formula 1 in Asia
Late in 2021, Formula 1 signed an agreement with 188BET to sponsor its Asian operations. In the deal, 188BET was to have exclusive access to F1 data, which it intended to share with its betting customers in order to help them make informed decisions. The iGaming operator will also showcase its brand in the virtual ads trackside. This allows broadcasters to show the 188BET brand to its Asian viewers.
The deal runs until 2024. During this time, the iGaming provider will have exclusive access to the F1 play predictor feature across the entire Asian continent. On its part, the F1 will get funds to enhance its operations.
188BET is a leading iGaming platform that hosts both a casino and a sports betting platform. It has operations across Europe, Asia, Africa and the Americas. Over the years, it has been looking to grow its Asian base. Its partnership with Formula 1 gives it a chance to grow its audience in Asia across all products.
Crypto.com becomes a global partner for F1
Crypto.com is not an iGaming platform, but it has been a great player in the adoption of cryptocurrencies across the gambling world. Therefore, the iGaming industry will benefit from any publicity given to the online platform. It is estimated that the platform has over 10 million users, most of whom use the services for iGaming.
In the deal with Formula 1, the platform will become a global partner and promote the use of crypto in daily transactions. It even gave an NFT award during the Turkish Grand Prix. Crypto casinos will use this opportunity to show players that they offer crypto for the iGaming and sports betting services. Market analysts have claimed that the deal will open doors for the entry of more iGaming providers.
As Robert Longthorpe – an expert of NZCasinoClub – states, several crypto providers have supported a few Formula 1 teams over time, with many having a continuing deal in 2023. For example, Tezos and OKX sponsored McLaren Racing and will do so in 2023. Binance has been supporting team Alpine, while OpenSea has been supporting Haas F1.
