Since its inception between the years 1920 and 1930, the Formula One racing has had its fair share of beautiful moments, but like any betting game, these would be nothing without its fair share of ‘betting scandals’. These ‘scandals’ are what led to the formation of the Federation Internationale de l’Automobile or FIA. This is the body responsible for regulating the F1 game and car safety ensuring best practices. The corporation was launched shortly before the World Championship of 1950. This motorsports organisation, believe it or not, has also had an impact on the betting industry. Putting safety measures in place and protecting racers and motor users on the road, has meant that bettors can trust the nature of the sports and its players. In essence, the FIA has added integrity to the sport of car racing and because of that, it has helped cultivate a booming betting industry.
Cultivating legendary players
What would a sport be without its key players? Since the FIA came into existence, it’s been responsible for grooming industry greats that have left a mark on people’s hearts- both in a good and in a bad way. Names such as Damon Hill, Michael Schumacher and Aryton Senna are still remembered. Because of these legends, online race betting will continue to grow and put many casinos on the map. The current licensing laws, however, do limit the game, limiting players to only bet on games they can see on TV. Casinos like Paddy Power are leading the market in the Grand Prix betting scene.
Looking at the future of Formula One betting
Formula One is now being run by Liberty Media, and the media giant has been doing the most to ensure that they bring the best in Grand Prix entertainment. With major sponsors like Ferrari, Mercedes and Red Bull continuing to be a feature and a great part of the game, it seems like the sport will grow even more in popularity in the coming years.