It also promotes the universality of each sport, by ensuring that the same gameplay rules are being practiced worldwide, using a standardized/homogenous international gameplay rule system (sanctioned by the respective international sports governing bodies) that is applied uniformly on all member associations and recognized leagues.
Sometimes this is done for safety reasons, sometimes to make the racing more interesting as a spectator sport, and sometimes to promote competition through involvement of smaller teams.
Although heavily regulated, most people agree that the sport has thereby greatly benefitted, not least through dramatic leaps in safety.
The degree of organisation can vary from national or worldwide competitions for the sport, or it can occur in a purely ad hoc, spontaneous way.
The broadcasting of sports events is also highly regulated, with contracts limiting who can show footage.