F1 sponsorship by gambling companies
The cars were painted in their national colours. The closest sponsorship was a small logo of companies that were suppliers of tires and fuel. In 1968, BP and Shell withdrew from Formula 1 and Firestone began charging for tires. This move created an avalanche of deals and led to the involvement of sports betting and casino operators.
The first Grand-Prix took place in Silverstone on May 13, 1950. The cars were painted in their national colours. In 1968, BP and Shell withdrew from Formula 1 and Firestone began charging for tires. This led to the introduction of advertising sponsorship. Sports betting and casino operators are now sponsors of Formula One.
The Formula 1 racing industry turns over several billion dollars a year. The gambling industry sponsorship and Formula go well together. Allslots NZ review highlights some of the similarities between the two industries. They are both growing at an exponential rate. Formula is expected to embrace a new gambling sponsor every now and then.
Gambling companies are interested in Formula 1 sponsorship. They want to reach out to a sports betting fan base. The deal is planned to run until 2024. The operator has entered the Asian market and signed an exclusive contract with rights reserved that allows them to support F1 actions and races in Asia. It also allows the operator to showcase its brand on a virtual advertising trackside.
Crypto.com will become a global partner for Formula-1 racing, including the new Sprint series. The platform has a required 10 million users. It will also announce a new award at the Turkish Grand Prix and become its irreplaceable token NFT partner.
Bernie Ecclestone used to block F1 sponsorship by gambling companies. New owners are more open to the idea. There are challenges to overcome. Some people want to resolve the influence of sportsbooks on the increase of gambling-related problems.
Money from sponsors plays a role in motorsport competitions. Some of the sponsorships have already become cult and part of popular culture. There will be more gambling sponsorship deals in years to come.
