Brazil becomes one of the strongest Formula 1 betting markets for Entain

Entain reported a surge in popularity for bets on Formula 1 with a “record-breaking year on the cards” and a strong interest from Brazilian public.

Data from the global sports betting, gaming and interactive entertainment group between 2018 and 2022 reveals that:

• The total number of Entain customers betting on Formula 1 increased 50% from 2018 to 2021, and the total number of bets on each season has grown by 30%.
   
• Most customers who bet on Formula 1 between 2018 and 2021 were from the UK (35%), Brazil (17%), Germany (17%) and Spain (5%).
   
• Entain has seen an 18% increase from 2021 to 2022 in the number of UK customers betting on Formula 1, with four races still yet to go in the 2022 season.
   
• The British Grand Prix in July 2022 saw a 121% increase compared with 2018, and there has been a four-fold increase in the number of bets on a winner at the race.

This trend replicates the spike in popularity of the sport across streaming and multimedia platforms. According to Formula 1, it was the fastest-growing major sports league in terms of follower growth in 2021. Followers on social media platforms increased 40% to 49.1 million, with video views up 50% to 7 billion and total engagement up 74% to 1.5 billion.

Dom Grounsell, Chief Commercial Officer at Entain, commented: “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. 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,” Grounsell concluded.

Source: GMB