This week Formula One (F1) announced that it had reversed its stance on betting deals as a five-year deal was made with ISG, worth $100m. ISG now have the right to strike deals with betting companies in different markets around the world.

The announcement means that betting companies will have a physical presence at Formula One races for the first time in nearly 40-years. The blanket ban was implemented by former owner Bernie Ecclestone, who refused to accept backing from betting companies on the basis that they would tarnish the sport’s image.

ISG, who paid the $100m up front, will be selling gambling operators the opportunity to have their brands promoted on trackside electronic billboards, on-screen graphics during TV broadcasts and through integration across the series’ digital and social platforms.

As well as sponsorship rights, ISG will be working with sports data firm Sportradar to develop new in-play betting markets during Grands Prix.