Formula 1 signs betting partnership with ALT Sports Data

San Diego-based ALT Sports Data has officially partnered with Formula 1 as its designated betting data supplier.

Announced on February 28, this strategic alliance positions ALT Sports Data as the official provider of betting data for the prestigious Formula 1 racing series. While the specific duration of this agreement remains undisclosed, the implications for both organizations are significant.

Under this partnership, ALT Sports Data will develop real-time predictive analytics tailored for the betting industry, integrating proprietary data and crafted odds solutions aimed at enhancing wagering opportunities. This innovative approach promises to elevate the betting landscape associated with Formula 1, offering fans an enriched experience.

Accelerating Fan Engagement in Formula 1

Formula 1 has recognized the vital role that sports betting plays in enhancing fan engagement. This collaboration with ALT Sports Data is anticipated to unlock new betting markets, allowing enthusiasts to interact with the sport in novel ways. Emily Prazer, Chief Commercial Officer for Formula 1, emphasized the importance of this partnership, stating, “Sports betting is an increasingly important part of the global fan experience. We are committed to delivering new and entertaining ways for our audiences to engage with the sport.”

Todd Ballard, Co-Founder and Chief Marketing Officer of ALT Sports Data, echoed this sentiment, highlighting the potential reach of this collaboration among an audience of 750 million worldwide. “Formula 1 presents an unparalleled fusion of speed, strategy, and innovation,” said Ballard. “We are excited to revolutionize the sports betting experience for both Formula 1 fans and sports bettors by utilizing our advanced capabilities in pricing, live markets, and micro-market solutions. Our mission is to foster deeper engagement, enhance the live race experience, and forge meaningful connections between Formula 1 and its dedicated global audience.”

Strengthening Bonds with the Betting Sector

ALT Sports Data joins a growing list of gambling partners collaborating with Formula 1, showcasing the series’ proactive approach to integrating betting into its ecosystem. Earlier this month, global lottery operator Allwyn announced a multi-year partnership with Formula 1, focusing on community and socially responsible initiatives. In an additional strategic move, Allwyn also became an official partner of the McLaren Formula 1 Team.

The visibility of gambling brands within the sport has continued to expand, illustrated by crypto operator Stake sponsoring Sauber Group’s F1 team as its exclusive title partner since 2024.

This increasing integration of gambling within high-profile sports like Formula 1 is not just an expansion of betting opportunities; it represents a shift in how fans engage with their favorite teams and drivers, opening new realms for interaction and entertainment. As the gambling industry continues to evolve, partnerships like this one will be critical in redefining the spectator experience.