Emily Prazer, Chief Commercial Officer at Formula 1, said: “Sports betting is an increasingly important part of the global fan experience, and Formula 1 is committed to delivering new and entertaining ways for our audiences to engage with the sport.

“We are delighted to partner with ALT Sports Data, whose expertise in bespoke sports betting markets and analytics makes them the perfect partner to help us drive forward in this exciting new chapter.”

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Todd Ballard, Co-Founder and Chief Marketing Officer of ALT Sports Data, added: “Formula 1 is one of the biggest and most prestigious global sports brands, captivating a large and passionate fanbase of 750 million people worldwide.

“It has an unmatched combination of speed, strategy, and innovation, so we are thrilled to reimagine the sports betting experience for both Formula 1 fans and sports bettors alike by leveraging our industry-leading capabilities in pricing, live markets, and micro-market solutions. Our goal is to create deeper engagement, enhance the live race experience, and drive meaningful connections between Formula 1 and its dedicated global audience.”