NASCAR is hoping to pick up a bigger slice of US sports betting cake, as they look to make some magic with BetMGM. They have made the online betting company an authorized gaming partner of the largest stock car racing series in the US.
The financial terms were not publicly divulged, but BetMGM will promote NASCAR offerings on their betting platforms as part of the deal. NASCAR will be promoting the offerings, highlighting the sportsbook throughout its channels, and especially on NASCAR.com and the mobile app.
BETMGM is currently licensed in seven states and is on pace to up that number to 11 by the end of the calendar year. Three of them (Michigan, Indiana, Nevada) all host races, with the latter two each home to two tilts per year.
Increasing the Betting Amounts
NASCAR has not been shy with its attempts to appeal to broader groups of bettors. In a bid to lure younger demographics this year, they leveraged the popularity of their esports competitions into action for gamblers. Their statement added that “One way NASCAR can increase its sports wagering footprint is with a larger variety of bets.”
Later mentioned in their statement, BetMGM will expand the portfolio of bet types offered on the mobile app throughout the NASCAR campaign. They are looking to include top-finishing drivers, driver matchups, and stage winners among various potential inclusions. And an over/under on driver finishes is among them and could play big.
It may require a little fine-tuning on the part of the sportsbook, but it could be a fantastic addition. Car numbers aren’t in consecutive order, the range of numbers goes from 00 and finishes at 96. But when all the kinks are worked out, it could be a fantastic addition. As is the case with the holiday season: the more the merrier.
Capitalizing on Opportunity
The fact that so many things are now remote and mobile lead to chances to reach more people than ever before. And there is no question that BetMGM and NASCAR are looking to tap that resource for all it is worth. Especially with people setting record amounts of time on their mobile devices in recent months.
They see a golden business chance to add another fast-growing niche. In-race betting can become a staple almost immediately. The popularity of the sport continues to grow, along with this opportunity. As the fans get more involved and learn more, they will feel comfortable betting larger sums of money.
It is using data that is provided by Genius Sports. BetMGM is going to offer live-betting for the very first time in 2021. Neither company had a comment on this and what it may end up looking like. So, we’ll ultimately find out later what they think about this.
The chances for financial gain are tremendous, and so it is really a no-brainer. This will be exciting to track as further developments move along. NASCAR is about to go where they have never gone before. And there is a lot of excitement.
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