Sportsbook.com Refunds Wagers on U.S. Grand Prix

It wasn't just the tens-of-thousands of fans who showed up in Indianapolis to watch the U.S. Grand Prix on Sunday who were disappointed with the outcome of the controversial race.

Officials with leading online sports betting site Sportsbook.com agreed to refund wagers placed on the 14 drivers who didn't complete the race due to a boycott in a protest over safety issues.

Only six of 20 cars started the race after a dispute between teams who use Michelin tires for their cars and the Federation Internationale De L'Automobile (FIA). The FIA oversees the rules and regulations for Formula One racing and was feuding with Michelin over the use of unsafe tires for the race.

Michelin provides seven of the 10 F1 teams with tires. Only six cars -- using Bridgestone tires -- started the race in Indianapolis on Sunday after 14 drivers left the track following the warmup lap. Ferrari's Michael Schumacher won, climbing from his car to a chorus of boos.

The same seven teams were among the nine teams that boycotted meetings called by FIA president Max Mosley in January and April to discuss regulations for the 2008 season.

Two Michelin tires failed during Friday's practices -- one causing a wreck that prevented Toyota's Ralf Schumacher from competing -- prompting Michelin to rule its tires were unsafe for the Indianapolis track.

Michelin unsuccessfully asked FIA to ease its rule forbidding teams from changing tires after qualifying. FIA also refused to consider installing a curve that Michelin said would slow speeds and make the track safer for its tires. Michelin then advised its teams not to compete.

"We are absolutely not embarrassed about our decision, although we do have regrets for the fans of Formula One and for the racing drivers of course," Frederic Henry-Biabaud, Michelin's deputy director of competition, said Monday.

"We feel it is a reasonable decision and we were professional to bear in mind primarily the safety of the drivers," Henry-Biabaud said. "We had no other choice."

With Michael Schumacher being credited as the official winner of the race, Sportsbook.com decided to refund the wagers of customers whom wagered on the 14 drivers that retired. The site also paid out winnings on the drivers that continued the race.

"As each driver took part in the warm-up lap, by definition each wager would have been a loss," Alex Czajkowski said. But instead many wagers were refunded on the race, he said.

The fans in Indianapolis were clearly upset, with many leaving early and others throwing debris onto the track.

"Many of our players are race fans, and don't need the added frustration this race has already cost," Czajkowski said. "We hope Formula One is able to find a way to give back as well."

Sportsbook.com odds on the French Grand Prix will be available after a Wednesday meeting between the FIA and its race teams.

Czajkowski wouldn't say how many wagers were refunded, or how much money had to be given back to its bettors, but he did say that wagers on auto racing continue to represent a growing portion of the online betting business.

"Formula One betting isn't as big in the U.S. as NASCAR is, but they both have seen a lot of growth for us over the last few years," he said.

Despite worldwide popularity, Formula One has never drawn widespread interest in America, where a lack of American drivers -- none since 1993 – and no American manufacturer among the cars in the field has hurt its appeal among fans more accustomed to Indy-style oval racing and NASCAR.