NASCAR, Wynn Deal Could Give Boost to Virginia Sports Betting

NASCAR, Wynn Deal Could Give Boost to Virginia Sports Betting
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NASCAR and WynnBET, the digital gaming division of Wynn Resorts, on Friday announced a multiyear sports betting partnership, and they are looking to Virginia, which is working to launch online sports betting, to get it started.

With that in mind, WynnBET — an authorized gaming operator of NASCAR — is formally submitting an application to become a legal gaming operator in Virginia, site of some of NASCAR’s biggest races, according to a news release. Virginia is accepting operator applications as it continues to work toward the opening of its sports betting market.

RELATED: NASCAR, BetMGM deal could provide lift to in-race betting

“Like Wynn, NASCAR is an iconic brand,” Craig Billings, president of Wynn Resorts, said in the news release. “Together, Wynn Interactive and NASCAR will provide sports bettors in Virginia with one-of-a-kind experiences, both digitally and at NASCAR facilities in the commonwealth.”

Pending approval from Virginia regulators, WynnBET will become the official online sportsbook of two iconic racing venues in the state — Martinsville Speedway and Richmond Raceway — which will result in construction of WynnBET Lounges at each venue and live, in-game race wagering starting in 2021, the release said.

Martinsville Speedway and Richmond Raceway will combine to host four NASCAR Cup Series races per year, the most of any state in the country. This Sunday, NASCAR’s second-to-last race of the 2020 season takes place with the 263-mile, 500 lap Xfinity 500 at Martinsville.

WynnBET Expanding Bet Types

WynnBET will expand the portfolio of bet types offered on its mobile app throughout the NASCAR season, including pre-race and in-play bets, the release said. Bet types currently being explored 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, WynnBET will offer live, in-play betting through a partnership with Genius Sports and live betting product, Betgenius, as the sport continues to strengthen its position around in-play sports betting.

"We're excited to partner with such a deeply experienced and innovative team to drive engagement and expand our sports betting offerings," Tim Clark, senior vice president and chief digital officer for NASCAR, said in the release. "Wynn is a trusted and iconic brand and our new relationship advances NASCAR's position in the rapidly evolving gaming space while delivering fans with yet another live-in race engagement tool."

Virginia Getting Closer

Earlier this year, the Virginia state legislature passed a bill legalizing sports betting and the state could grant up to 12 online sports betting licenses by the end of the year. The Virginia Lottery Commission approved regulations in September and began accepting applications in mid-October.

“We take great pride in providing fans with an unforgettable experience at our racetrack and WynnBET is best-in-class in delivering a premium experience to its customers," said Clay Campbell, president of Martinsville Speedway. "We are excited about what this new venture could mean for the Commonwealth of Virginia and for our loyal fans visiting our track in the years to come.”

NASCAR has experienced across-the-board growth in its sports betting handle and has added Penn National Gaming, BetMGM and IMG Arena as partners within the past year.

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