The Formula One global motorsport series has announced sports entertainment firm PlayON as its official daily fantasy partner.
The agreement will lead to the launch of two official fantasy Formula One games, both of which have already gone live at http://www.playon.co/f1 and fantasy.formula1.com.
The partnership also includes the integration of live Formula One races onto the PlayON platform in key markets via the championship’s new over-the-top (OTT) service, F1 TV.
Each game allows fans to pick a team of five drivers and one constructor for each race, with points being awarded for finishing positions, positions gained and fastest lap times. The games will be tailored to local audiences and offered in relevant languages.
As part of the deal, Formula One has become an equity shareholder in PlayON, marking the first time that the series has taken a stake in an external company. On the back of the partnership, PlayON has also announced that it will be entering the US market in 2018.
“Formula One is continuously looking for ways to engage with new audiences, particularly in the digital space,” said Frank Arthofer, Formula One’s director of digital and new business. “Fantasy Sports is an exciting industry and offers us the opportunity to engage with a young and vibrant fan base.
“We believe in PlayON, its product, leadership, and its strict approach to regulation, only operating real-money games in territories that have a clearly established regulatory framework in place: this enables Formula One to enter the daily fantasy market without concern over legality. We feel PlayON’s approach is the right one for long-term success in the industry.”
PlayON founder and chief executive Killian Jones, added: “A key aspect of the deal relates to the live Formula One races being present on the PlayON platform. The combination of live sport and PlayON’s daily fantasy games will provide a fully immersive entertainment experience to our customers around the world.
“In light of the regulatory environment around daily fantasy sports now being clearly established in multiple US states, PlayON today announces it will enter the US market in 2018 and will establish a US office to fuel our expansion efforts in North America.”