- Some NASCAR tracks will soon be offering an on-site lottery type game
- There will be a three-month trial period of a test version of the game
- NASCAR recently made public its sports betting regulations for members
- Gambling sponsors are permissible, with some limitations
NASCAR embraces sports betting
Many of the tracks that host NASCAR races will soon offer live betting on those races by partnering with a lottery company to develop a product.
The product will be a game with a lottery element. A partnership is already in place between the SpeedWay Motorsports Inc. and the EquiLottery Games company. Their initial project will be a game known as Car Crash, a lottery draw game with three numbers based on the live auto racing results.
There has been no indication yet as to when the game will go live. However, they are hoping to have the game in those states where the tracks are under the ownership and operation of SMI and their subsidiaries.
This will include Texas, Tennessee, New Hampshire, Nevada, Kentucky, Georgia, California, and North Carolina. They will also be looking into opportunities in other states where NASCAR is already popular.
Details of the game
Car Crash will be in the form of a quick-pick ticket that will cost $5. It will be available at the same terminals that offer other types of lottery tickets, such as Powerball. There will be three randomly chosen entries in the given race. The winner will be decided by the results from the race, with the top prize set to be in the region of $50,000.
There will be a three-month trial period for the game using live horse racing results with the Kentucky Lottery. This form of the game is called Win Place Show and the trial period begins on March 31 in 5 retailers.
It has taken EquiLottery Games four years to get the trial of this game up and running. It is said to be the very first daily lottery game that bases its results on live sports in the country.
NASCAR sports betting regulations
In January, NASCAR officials outlined new guidelines for their drivers and sports bets. This became relevant when the Supreme Court struck down the federal ban on sports betting in May 2018.
Since then, eight states have made sports betting legal and many more are likely to follow suit in 2019. The new regulations say that no drivers, team staff or members are allowed to place bets on anything relating to a NASCAR race.
They are also forbidden from providing any confidential information to a third party. A violation will result in a fine in the region of $200,000. Suspensions and permanent terminations are also possible, depending on the specific case at hand.
Members of NASCAR are permitted to take part in fantasy sports if the prize limit is $250.
Positive sports betting moves
NASCAR is looking to use legal sports betting as a way to encourage more people to watch their races. In recent years, the sport has been struggling with viewership numbers and could build greater awareness through sports betting.
Gambling sponsors for times are now permitted. This follows the example of the other major sports leagues in the country. NASCAR is also looking at a possible data partnership deal to help with its events. An industry group within NASCAR is actively looking at the different potential opportunities for them in the sports betting space.
The sports betting regulations were released before the first race of the season, the Daytona 500 on February 17. There may be some issues with how NASCAR negotiates with television partners.
NASCAR has deals with both Fox Sports and NBC Sports. There will be limits on how much they can cover events involving gambling sponsors. Certain exposure may not be allowable because the television networks do not want to be the subject of legal action.
NASCAR is also looking to cash in on live on-track betting. The first race to do so was at the Dover International Speedway in Delaware last year. Almost 3,000 fans made bets at that race.