- The Structure
It all started when the NASCAR auto racing league made it clear that it would approve teams to
take on partnerships and sponsorships from betting companies. It was a step in the right direction
as it not only helped the sport inch forward but also spiked interest in punters who now wanted to
understand what the sport entailed. Any betting company that clinched a deal would be on
screens and branded equipment for a good 36 weeks each year, translating to more sales and
customer reach.
Rules applicable to punters mainly depend on the sportsbook you use. However, according to the
NASCAR president, there is one major rule: the team owners, members, and drivers cannot place
any wagers. It helps to note that it would be much easier for these players to sway the wager one
way or the other without this rule. While it’s not possible to check if the players have followed
the rules, the league can investigate any cases of impropriety and take action. For now, it’s safe
to assume that all protocols in place seem to have worked.
- The Deals
NASCAR and BetMGM
In 2020, the NASCAR auto racing league approved BetMGM as an authorized gaming operator,
enabling the platform to accept wagers related to NASCAR racing. The deal was a joint venture
between GVC Holdings and MGM resorts which both offer sports gambling. The platform
would offer live and in-play betting to its users through Genius Sports, the latter providing events
data only to licensed sportsbooks. Punters were eager to get their hands on bet types such as
stage winners, top drivers, the number of winning cars and other options listed during the
announcement.
The partners announced that they would soon release a NASCAR game
to the fans, which further
fueled excitement for the future. Thanks to this deal, the platform is now free to promote its
wager services on NASCAR on its social media, app and website platforms, and users can
remain assured of its reputability. By the end of 202, the platform had a presence in over seven
states and was keen on expanding its reach.
Richard Childress Racing and BetMGM
BetMGM is a major sportsbook that has clinched yet another amazing deal sure to take its activities to the next level. At the start of 2021, the online gaming platform announced that it was now partnering with Richard Childress Racing, making the team the first of its kind in NASCAR to enter such a deal. Per the agreement, the online platform will have its brand on the team’s racing outfits during several races in the NASCAR cup series of ’21. The racing team feels that this is an opportunity for both it and the platform to break new ground and open up new growth avenues for each other. The CRO in BetMGM went ahead to celebrate Richard Childress Racing as a respected and strong team in the series, citing that this partnership was an exciting way to get more marketing opportunities. The company hopes that this will afford it the chance to reach more NASCAR fans around the globe.
NASCAR and WynnBET
Wynn Resorts Limited has followed suit in its quest to offer motorsport betting opportunities to
its clients through its digital gaming division, WynnBET. By entering into a partnership with the
NASCAR auto racing league, it became a licensed gaming operator for the series in 2020. The
agreement stipulates that both partners will create new opportunities for each other across the
United States. Following the announcement, NASCAR’s CDO stated that the partnership with
the innovative team behind WynnBET gave them hope that the sporting event would grow over
time.
There will be more such partnerships over time as NASCAR tries to reach more people. By now,
it’s probably clear to sports organizers that to reach more fans; you have to also line their pockets
with promises of wagering opportunities.
What do you think the next deal will be?