Motorsports and motorsports betting are both massive industries with impressive fan bases around the world. Malta looks to step into the racing arena with the development of a German-designed racetrack.
When it comes to speed, split-second timing, and innovation nothing beats the thrills and excitement of high-end motorsports. When it comes to financial viability it is also one of the leading sports sectors on the planet generating more than €159 billion for the global economy according to a report by Consultancy UK.
Fédération Internationale de l'Automobile (FIA) President Jean Todt commented:
“This report reveals that the motorsport industry represents €160 billion total annual gross output… This is remarkable and it demonstrates that our sport efficiently contributes to the rebound of the economy in Covid-19 times.”
The report goes on to mention that the industry comprises more than 7200 facilities which include tracks and circuits and employs the skills of more than 2.7 million individuals including drivers, officials and volunteers all year round.
Looking To Take Pole Position
As the racing world begins to shake of the cobwebs of immobility caused by the global pandemic Malta made the exciting announcement that will finally be honouring its past commitments to the motorsport’s community.
Prime Minister Robert Abela said:
“The racing sport has waited for long enough, and it is time to deliver on our promise. We have the plans and money for it, and designs will be published soon.”
In this case, the promise is not a mere facility upgrade or the introduction of new licenses but rather that the government will break ground on the long-awaited racetrack in Ħal Far.
Malta Motorsport Federation president Duncan Micallef was overjoyed, saying:
“I had to look at my watch to make sure I’m not sleeping and dreaming. Thank you so much for making our dream come true.”
The complex is reported to cost around €20 million and was designed by a team of German raceway professionals. The reason for Malta sparing no expense in the development of the track is rumoured to be due to an international racing event already committing to using the complex as part of their season.
Time To Place Your Bets
The addition of a new raceway that will also become part of the international racing community is fantastic news for Malta, for the sport and for online gamblers.
With the recent shutdowns, the motorsport’s betting community is loving the news of something new to liven up the sport when the official season gets underway.
With bets currently limited to the fastest lap time, podium positions, championship winners and other simple bets having a new track will hopefully open a series of new action items.
A fun bet to place at this time would be on which international event has agreed to include the new Malta raceway in their season. So far no one has been able to find a source that can name the mystery organisation.
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