NASCAR continued to tap into the sports betting market this week, as it announced a new partnership with BetMGM.
The two will collaborate to promote engaging sports betting experiences for NASCAR fans across the country, according to Tuesday’s announcement.
Among the plans is in-race betting, which will begin in 2021.
NASCAR opens the door for BetMGM to expand interest
As an authorized gaming operator, BetMGM will have rights to NASCAR marks and will promote race offerings on its mobile app.
BetMGM can also promote through its social media channels and retail sports books.
Scott Warfield, NASCAR managing director of gaming said in a press release:
“Partnering with a best-in-class operator like BetMGM positions NASCAR to build on the positive energy and momentum we’re seeing around gaming and in particular the live in-race experience. We’re excited to have such an iconic brand on board to expand our offerings and deepen our engagement with the most passionate fans in sports.”
NASCAR and BetMGM will introduce cross-promotional opportunities that can include promotion of BetMGM on NASCAR’s varied digital platforms. That includes NASCAR.com, the NASCAR mobile app and other social media channels.
BetMGM continuing growth around the country
BetMGM is currently licensed for sports betting in seven states, including Michigan at BetMGM Sports Lounge at the MGM Grand Detroit. Expectations are for licensing in 11 states by the end of 2020.
The partnership with NASCAR only strengthens the company’s momentum going forward.
BetMGM’s Chief Marketing Officer Matt Prevost stated:
“We’re excited to work with the NASCAR team to build immersive sports betting experiences that 21st-century racing fans crave. BetMGM’s unparalleled betting technology combined with NASCAR’s iconic races will create a superior betting experience for racing fans all over the United States.”
BetMGM will offer pre-race and in-play bets through its mobile app throughout the remainder of the NASCAR season.
Michigan has yet to regulate online sports betting, but that is expected in late 2020 or early 2021.
Explored NASCAR betting types include:
- Top-finishing drivers
- Driver matchups
- Stage winners
- Over/under on winning car number
Beginning in 2020, BetMGM will offer in-race betting through a partnership with Genius Sports, and its sports betting division Betgenius.
NASCAR making the most out of tough 2020
The 2020 sports season has been challenging for everyone. However, NASCAR has been able to keep itself in the spotlight.
Once the COVID-19 pandemic put a stop to live racing in mid-March, NASCAR turned to iRacing. For months, NASCAR used iRacing in order to keep the competitive juices flowing for its athletes and fans.
NASCAR has experienced across-the-board growth in its sports betting due to the popularity of the eNASCAR iRacing Pro Invitational Series.
Since returning to live racing in May, the Cup Series has held 20 races.
BetMGM reports NASCAR’s sports betting turnover has grown by nearly 1,300% for the first seven months of 2020.
In celebration of the partnership between BetMGM and NASCAR, BetMGM is offering a special promotion this week.
For states with online sports betting available, BetMGM offered a $10 NASCAR free bet when placing any wager of $10 or more on Sunday’s GoBowling 235. The race takes place at Daytona International Speedway’s road course.
The wagers had to be placed on the BetMGM app, keeping Michigan from participating until online sports betting is legal in the state.