A race to the finish line...- 2005-07-04

Will Formula One ever return to Indianapolis Motor Speedway or in the United States for this same matter? This would have seemed a very far fetched issue not a long time ago, in a country where automotive sport is considered one of the most popular pass time; however following the 2005 Indianapolis F1 Grand Prix fiasco, many analysts fear for the sport, whose image has been significantly tarnished.

As a result of a Michelin tyre malfunction jeopardizing the safety of the venue (drivers and spectators), the FIA (Fédération Internationale de l'Automobile) reacted with a series of precautionary measures. Having failed to reach a viable compromise with the tyre manufacturer, concerned F1 teams and organizers, the FIA deemed it unsafe to allow implicated contestants to take part in the event, thus resulting in an unprecedented 6 car race.

Repercussions of this incident in the sports betting community were tremendous and quite controversial as many bookmakers, following “standard ruling” ensued to process bets placed on nonparticipating drivers, many of which initially appeared as clear favorites. Indeed, wagers made on pre-race drivers, or all of those who took part in the parade lap (all cars in this case) are considered to have started the race under F1 regulation, and in essence remain fully valid.

This drastic turn of event, gave way to frustrated gamblers all over the world seeking compensations or a refund of their bid. Moreover, several bookmakers recorded large losses following the outcome of the race. Experts are now stating that another similar incident in the future would force betting services to remove F1 events as an offered gambling feature.

In a multimillion dollar industry generating tons of dividends and large TV ratings, an affaire of this magnitude will require colossal efforts from each implicated party to help revamp the sport's image. Only time will tell if F1 will indeed come out stronger and victorious in this race to redeem the public’s vote of confidence.

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