Formula 1 (F1) has announced PokerStars as its new official betting sponsor, following a deal struck between the online poker brand and the racing series’ sponsorship and data rights agency, Interregional Sports Group (ISG).
The agreement will see the Flutter Entertainment-owned brand, which operates as part of The Stars Group, feature exclusively across Formula 1 broadcasts until 2023.
Additionally, the deal expands the global racing series’ portfolio of betting and gaming sponsors, building on Formula One’s previous Asia-facing agreement with 188Bet in March 2020.
Tony Ragan, joint chief executive at ISG, remarked: “We’re delighted to have reached this agreement with Flutter Group. Combining the worldwide appeal of PokerStars and this targeted approach in engaging fans with many similar traits as the PokerStars’ community is an incredible opportunity for innovation and further engagement between the two popular brands.”
The five-year partnership between Formula 1 and SIG was first struck in 2018, estimated at a value of $100 million, and centred around the development of betting services.
ISG can sub-licence betting partnerships rights to exclusive gambling partners internationally, providing partners with on screen graphics, physical and virtual trackside signage and digital integration across Formula One’s digital and social platforms.
Data and analytics firm Sportradar were also involved in the agreement, providing data integrity solutions to coincide with the establishment of in-play betting markets. The company cooperated with ISG on the launch of Live Odds in 2019, a live and pre-race odds provider leveraging exclusive and historical F1 data to create new odds models.
“Working with Formula 1 provides us with the opportunity to reach a fan base whose passion for sport goes way beyond motorsport,” added Tom Warren, Group Marketing Director at PokerStars.
“To be able to engage an audience of this size and yet focus just on the regions that are key to us makes this a very exciting proposition.”