NASCAR AND BOOKMAKERS’ SPONSORSHIP

Sports betting keeps getting bigger and better, and with the motorsport series entering the scene, it’s only set to become more exciting. NASCAR, being one of the most popular motorsports, has amassed a huge following over the years. It follows that these fans would like to put their money where their mouth is. NASCAR more than understands this and has since gotten into some lucrative partnerships with bookmakers.

  • 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.

Nascar and bookmakers

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?