NASCAR, BetMGM Deal Could Provide Lift to In-Race Betting

NASCAR, BetMGM Deal Could Provide Lift to In-Race Betting
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NASCAR has named BetMGM an authorized gaming operator and the partnership could lead to more in-race betting options.

The multi-year sports betting agreement with NASCAR, announced Tuesday, gives BetMGM rights to NASCAR marks and it can present NASCAR offerings on its BetMGM mobile app, social media channels and in its retail sportsbooks.

BetMGM, licensed for sports betting in seven states, has plans to be in 11 states by the end of 2020. BetMGM and NASCAR will introduce cross-promotional opportunities that could include marketing BetMGM on NASCAR's digital platforms, according to a news release.

As part of the deal, BetMGM will expand its portfolio of bet types offered on its mobile app throughout the NASCAR season, including pre-race and in-play bets. These new bets could include top-finishing drivers, driver matchups, stage winners and bets tied to the number of the winning car (over/under), among others.

Beginning in 2021, BetMGM will offer live, in-play betting through a partnership with Genius Sports and live betting product, Betgenius, as NASCAR strengthens its in-play sports betting options, the release said. NASCAR and BetMGM are also working together to develop a free-to-play NASCAR game.

"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," Scott Warfield, NASCAR managing director of gaming, said in the news release.

NASCAR Data Deal Was the Start

NASCAR announced in May 2019 that Genius Sports would be the exclusive provider of NASCAR data to licensed sportsbooks. The agreement with Genius Sports was NASCAR’s first data partnership.

When the deal was announced NASCAR said the purpose was to provide a product to offer live real-time odds during races.

In February, NASCAR and Penn National Gaming announced a multi-year betting partnership, Penn National’s first with any professional sports league. It was also NASCAR’s first partnership with an operator.

With BetMGM on board, it gives NASCAR bettors more betting options to consider.

NASCAR said it has seen across-the-board growth in sports betting handle in part because of the popularity of the eNASCAR iRacing Pro Invitational Series and the sport's return to live racing in May, according to the release.

BetMGM Expansion Continues

BetMGM is Roar Digital’s sports betting and gaming platform. Roar Digital is the joint venture between MGM Resorts and GVC Holdings. Roar Digital recently announced that it has increased its total investment in the U.S. sports betting and online gaming market to $450 million.

BetMGM and the PGA Tour announced on Aug. 3 that they had agreed on a multi-year deal for sports betting content and marketing. MGM became the first official sports betting partner of Major League Soccer last year and has reached deals with several teams in U.S. professional sports leagues.

Just this week it was announced that IAC/InterActive Corp bought a minority share in publicly traded MGM Resorts for about $1 billion, citing the growing potential of MGM’s online gaming efforts through BetMGM.

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