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In the Pit Lane: Place Your Bets
Back in the day when Formula 1 was run by the sport's ringmaster Bernie Ecclestone betting was a dirty word believing the gambling industry would tarnish his sport's image. How this squared with his love of tobacco money was always a mystery. When Liberty Media took control Adam Crothers Formula 1’s head of digital media was tasked with coming up with a strategy to make money from sports betting. The key was data that would enable live betting during races and very quickly Liberty signed up the Interregional Sports Group (ISG) on a five-year deal worth an estimated $100-million allowing ISG the commercial rights to sell F1 to gambling companies. Partnering with ISG would be European tech...
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