The deal marks a significant step for Allwyn as it expands its global reach through one of the world’s most-watched sports, which boasts 24 races, a fan base of 750 million, and a strong digital presence with 96 million social media followers.

Allwyn is owned by Czech businessman Karel Komarek and operates lotteries in multiple countries, including the UK’s National Lottery, Sazka in the Czech Republic, Österreichische Lotterien in Austria, OPAP in Greece and Cyprus, and the Illinois Lottery in the United States.

With around 130 million customers worldwide, the company aims to strengthen its position as a global brand while using Formula 1’s platform to highlight positive community contributions.

One of the core objectives of the collaboration is to develop initiatives that promote social impact, aligning with both organisations' shared values of "innovation, technology and driving positive change in communities." The partnership will allow Allwyn to engage with F1’s vast audience and spotlight individuals and groups making a difference worldwide.

F1 CEO Stefano Domenicali expressed his excitement about the new deal, stating, “We are thrilled to welcome Allwyn as a new Official Partner.

“Our collaboration reflects our shared commitment to innovation and celebrating community. This partnership also provides new opportunities for both our organisations to connect with broader audiences around the world.

“We look forward to working together to create unique experiences and drive positive change together.”

Karel Komarek, Allwyn Board Chair and Founder, said: “We have ambitious plans for Allwyn to continue on its successful path of international growth, and this is a significant milestone on that journey.

“This investment marks a major moment in Allwyn’s evolution, as we transform awareness of Allwyn on the global stage and underline the power of our lotteries to do good in the world.”

Robert Chvatal, Allwyn CEO, said: “Formula 1 is synonymous with excellence, high performance and innovation – principles at the heart of Allwyn’s business.

“We’re excited to begin this official partnership with Formula 1 to engage the sport’s platform of a hugely passionate global fanbase and to champion positive community impact.”