F1 has announced a new deal with 188BET, which will be its official sponsor in Asia for five seasons, until 2024.

Having joined hands with Interregional Sports Group and Sportrader back in 2018 season, F1 has now signed 188BET as its new partner in Asia for five seasons until 2024 from 2020 onward. 188BET is an online company registered in Isle of Man.

The deal will see virtual trackside advertising in a ‘sophisticated’ way for races that can broadcast and integrate it. The company will also have exclusive ownership of the F1 Play predictor for the sports betting market in the Asian region.

It will get all the data through Sportradar. Further details will be revealed by F1 in the lead-up to the 2020 season. The initial announcement of the sport joining forces with a betting company received criticism, especially due to the ill-effects of gambling.

Even though it is legal in many countries, betting is not majorly considered as an ethical way of earning. The global nature of F1 makes it appealing to gamblers and so, they end up investing in the sport through such official means.

The announcement read as: “Formula 1 announces today that 188BET have been named as Official Asian Sponsor of Formula 1 with a five-season agreement with Interregional Sports Group (ISG) that will see the Bookmaker featured exclusively throughout the Asian broadcast market throughout the Formula 1 season until 2024.

“The partnership will see the 188BET brand appear on sophisticated virtual trackside advertising for races that are broadcast together with bespoke activation and integration across the rapidly expanding F1 digital and social platforms. 188BET will also have exclusive ownership of the F1 Play predictor app for the Asia sports betting market along with and will receive official F1 betting data supplied by Sportradar.”

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Here’s the website of 188BET

F1 announces deal with ISG and Sportradar to enable live in-play betting