Entain has revealed a surge in bets on Formula 1 with particular interest from Brazil, resulting in a “record-breaking year on the cards”.
The sports betting and gaming company has unveiled data showing the popularity of Formula 1 has grown by 50% between 2018 and 2021, while the total number of bets has increased by 30% each season.
Per region, most Formula 1 bets have come from the UK (30%), but Brazil is the motorsport’s second most popular market (17%), followed by Germany (17%) and Spain (5%).
Entain added that this trend has gone hand-in-hand with the sport’s popularity across streaming and multimedia platforms, such as Netflix’s Formula 1 Drive To Survive series.
“Our customers are finding Formula 1 an increasingly exciting sport to participate in – numbers are growing year on year, in line with the popularity of the sport,” commented Dom Grounsell, Chief Commercial Officer at Entain.
“This has no doubt been helped by the hugely successful Netflix Formula 1 Drive to Survive series. We’re looking forward to the next stage of Formula 1’s exhilarating journey, and with our bench-strength of global sporting brands, are perfectly placed to keep our customers entertained and close to the action.”
Entain also announced that, from 2021 to 2022, it has seen an 18% improvement in Formula 1 bets from the UK, while the British Grand Prix this season saw a 121% uptick compared to 2018’s race, including a four-fold increase in race winner bets.
Earlier this month, Entain published its Q3 trading update, reporting that performance is in line with expectations, with a new record level of active customers and strong momentum heading into the NFL season for BetMGM.