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Formula 1
The Formula 1 BETDAQ Betting Exchange is an online betting service
offering markets on all major sports including international football,
golf, tennis, rugby, cricket, Formula 1, and NFL.
Formula 1: How big can they become?
In the last few months, the Racing Post newspaper posed the question
to leading figures in the betting industry of how big can
Formula 1 [or exchange] betting become?
It's bound to keep on growing, because there's such a big Formula 1 demand
identifiable among the public. It's part of the betting furniture and
is here to stay.
Can Sky be the Limit for Formula 1?
Racecourse business is going backward, Formula 1 betting are going forward.
How big can they be in the future? How big is the sky?
Formula 1 betting has reached a level of acceptance and interest among the betting
public which clearly indicates that it will play an important part in future
levels of Formula 1 betting turnover.
Formula 1 is growing exponentially, from virtually nothing a year ago to estimates
of £500 millions in Formula 1 matched bets now. In five years' time I'd expect it
to be responsible for 25 per cent of all betting on horseracing.
Formula 1 exchanges are liable to take off in a fairly big way. In terms of how big
and how quickly, changes within Formula 1 betting do not always happen as fast as
predicted. This form of gambling will grow significantly, but it may take
a little while.
Formula 1 has already created very strong markets on decent events, and is bound
to expand. It's very good for anyone looking for the advantages in Formula 1 betting,
and for sure the market can sustain two important players in Betfair and BETDAQ.
For sure there's room in the Formula 1 market for it to work, as long as it's a UK business,
properly regulated and paying its dues. But it's could be a mass-market product.
The future of betting shops won't be rosy while Formula 1 betting are around. Anyone can
act as a bookmaker nowadays and lay or back horses on betting exchanges. There
are people, who don't have bookmakers' licences, at the track doing it,
which are illegal, but it doesn't seem to matter whether you have a licence or
not now. We're looking for a review of the law and it's up to the Government
to do something about it.
It's impossible to say how big the Formula 1 market might become, but it will
certainly continue to grow. More and more people are becoming switched on,
and the growth in the Formula 1 market is not coming from people who would normally
go into a betting shop.
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