New platform launch
NASCAR is aiming to launch its new sports betting platform in September. This will give fans of the sport the ability to play a wide variety of bets both before and during the races.
The release will coincide with the Las Vegas Motor Speedway event, during which the South Point 400 race on September 15 will kick off the Monster Energy NASCAR Cup Championship Playoffs.
NASCAR has been working alongside Genius Sports since May to bring its platform to market. The latter is a leading distributor of sporting data to sports betting sites across the world.
The partnership with Genius Sports will bring a real-time feed of data from NASCAR races to sportsbooks.
Initially, there will be markets for winners of stages, most laps in the lead, and changes of the lead. Group matches and prop bets for one-on-one driver matchups will also be offered.
Plans for growth
NASCAR sees sports betting as a way to increase the profile of the sport.
The platform is expected to lead to greater fan engagement and draw new fans to the sport.
NASCAR’s managing director for gaming, Scott Warfield, is confident that this approach will pay dividends. He said: “We’re thinking about how this product can turn our fans into evangelists of the betting products so they go out and tell their cousins and friends overseas.”
NASCAR is now allowing teams and drivers to obtain gambling sponsors, with a few caveats. There are some concerns that this may impact the deals in place between the sport and Fox Sports and NBC Sports, since these television networks are usually careful about the types of advertising they promote.
There is also a partnership agreement between NASCAR and the Action Network for the production of relevant sports betting content. Action has a worldwide reputation for its quality insights and analytics in sports betting.
As the first sporting organization to provide content from the Action Network, NASCAR will feature weekly analyses and updates, access to tips on races and competitions, and fantasy games coverage.
Currently, on-track betting is available at NASCAR races in states where it is legal and where SpeedWay Motorsports Inc. has tracks. These include Texas, Tennessee, New Hampshire, Nevada, Kentucky, Georgia, California, and North California. Ther are a number of lottery draw games on offer that are dependent on the results of given races.
Many key people in the sport believe that such offerings are key for growth. A name synonymous with NASCAR, Dale Earnhardt Jr, believes “it would create more excitement, bring more attention, more people in attendance. I can see it having a ton of positives.”
After the new regulations came into place for the sport, officials spoke about how on-site betting “could add a new element of excitement — whether it’s wagering on who’s going to win or who’ll win the first segment or a one-on-one bet.”