Speaking last year, before Liberty Media's purchase of Formula One, the company's CEO, Greg Maffei, admitted that one potential revenue stream the sport would be eyeing in the future was gambling.

"Outside the United States there is a huge gambling opportunity in the sport, none of which we capitalise on," he said. "I think there are a bunch of ways in which digital can play through this, I think it will be a part of the future growth."

In recent years, with the growth of on-line betting and casinos we have seen a steady growth in gambling on Formula One, be it on who will win the title or individual races through to far more complicated bets.

At the same time however, as the online betting industry grows, we have seen companies move into sponsorship, the most obvious example being Football, where a number of Premiership clubs are now sponsored by online betting companies like the ones that are reviewed on Betting Top 10.

As the industry continues to grow surely it is only a matter of time before the online betting companies realise the global appeal of Formula One, and make the move not only to sponsor drivers and teams but even races... after all, one of the most iconic events on the calendar is the Monaco Grand Prix, the Principality famed for its legendary casino.

Ever since the tobacco giants were driven out of the sport, F1 has been searching for a replacement and in online gambling and casinos the sport may have found it.

Liberty Media's £6bn purchase of the sport complete, the American company must now start recovering its investment and as Greg Maffei made clear last year gambling is particularly appealing to the sport's new owners.

Indeed, with Liberty looking to work with the online betting industry in a move that would be mutually beneficial, surely it cannot be too long before we witness the first steps.

Indeed, ever since the buy-out of the sport in January, Liberty has been making it clear that it is looking to expand the calendar, especially in the United States.

No surprise either to hear that one of the most favoured destinations on Liberty's 'wish list' is another iconic town with a love of gambling, Las Vegas.