Daily Mirror (Northern Ireland)
Labour slams F1 betting deal Fear for fans as in-play wagers get green light
LABOUR has criticised Formula 1 over an estimated £75million deal for gambling firms to target racing fans.
It is believed the agreement – one of the biggest in the sport’s history – will allow live ‘in-play’ betting.
However, it comes amid calls to curb TV adverts for gambling firms during live football matches.
It follows the recent World Cup when critics said viewers, including children, were “bombarded” with betting adverts on television and through social media.
Tom Watson, Labour’s Deputy Leader and Shadow Culture Secretary, told the Mirror: “It’s ridiculous to suggest that the explosion of gambling advertising in live sport is good for fans. Quite the opposite – it fuels addiction and exposes children and young people to gambling at too young an age.
“It’s a shame that Formula 1 have taken this decision.”
F1 has signed a fiveyear sponsorship deal with a London-based marketing agency called Interregional Sports
Group.
“As part of the deal, ISG will have the right to sub-license betting partnership rights to select betting brands around the world, subject to regulations,” Formula 1 said in a statement. The value of the deal has not been confirmed.
It comes after US cable giant Liberty Media, controlled by billionaire John Malone, bought the F1 racing series in 2016 for £6billion.
Fellow billionaire Bernie Ecclestone, who ran F1 for nearly 40 years, refused to accept endorsements from betting firms during his tenure at the top.
Labour is carrying out a review into gambling addiction and its treatment as a mental health condition and is looking into whether existing gambling advertising restrictions are adequate.
New policy commitments with potential new advertising restrictions will be announced very soon.