Carey defends Formula One betting sponsorship deal

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Formula 1 supremo Chase Carey has come out in defence of the sport’s contentious link-up with the betting industry, informing followers that it will be done in a “healthy way”.

Back in September Formula 1 announced its deal with the Interregional Sports Group, a partnership that would see new ways of betting on the sport using live data become a reality with ISG gaining the rights to sub-license betting partnerships to worldwide brands as part of the deal.

The deal gave birth to multiple criticisms of F1 for jumping into bet with the betting industry at a time when sports betting has come under the microscope more often because of supposed links with health and wellbeing, though yet again these links fail to take into account that most of the horrors of gambling addiction come from betting on games one has no control over, such as bingo, casino games and slots.

Carey has come out publicly to defend this sponsorship deal, saying he is aware that regarding betting the sports has responsibilities and that the F1 deal will be done in a healthy way with proper integrity tools around it.

The executive chairman went on to say that he believes fans enjoy betting on the sport, that they enjoy it, it makes it more interesting and more exciting and that is certainly true.  We must also remember that this sort of deal allows fans to bet on a sport they have knowledge of which is happening right in front of them, rather than relying on randomly generated numbers as they do for example in an online casino where most of the damage is done.

Carey has drawn comparisons to fantasy football, something said to enhance the enjoyment of NFL games and says that this is a fun form of betting.  For now though at least, the move will continue to attract its detractors.

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