BetMGM Enters Partnership with NASCAR, Will Expand In-Race Betting

BetMGM has entered a multiyear partnership with NASCAR to be its authorized gaming operator with plans to offer more in-race betting.
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BetMGM announced it has entered a multi-year partnership with NASCAR on Tuesday, becoming the auto racing circuit’s authorized gaming operator and allowing the sportsbook to expand its in-race sports betting offerings starting in the 2021 season.

It is the second deal with a sports league in as many weeks for BetMGM, which also entered an agreement to become the official betting operator of the PGA Tour. That multi-year deal included content and video rights to allow sportsbook operators to create programming for pre-round and post-round wagering.

Being NASCAR’s authorized gaming operator gives BetMGM rights to NASCAR marks while also promoting NASCAR offerings throughout BetMGM’s channels, including social media, its mobile app, and retail sportsbooks. BetMGM entered a partnership with the NFL’s Denver Broncos last month that included some similar capabilities for mobile sports wagering.

“We’re excited to work with the NASCAR team to build immersive sports betting experiences that 21st-century racing fans crave,” BetMGM Chief Marketing Officer Matt Prevost said in a joint statement with NASCAR. “BetMGM’s unparalleled betting technology combined with NASCAR’s iconic races will create a superior betting experience for racing fans all over the United States.”

NASCAR helping drive BetMGM to higher handle

The combination of the eNASCAR iRacing Pro Invitational Series — which featured drivers running simulated races — and the return of the actual NASCAR Cup series following the shuttering of the circuit due to the COVID-19 pandemic has been a winning one as BetMGM has reported year-over-year handle growth of 1,300% for NASCAR wagering over the first seven months of 2020.

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BetMGM noted its in-race sports wagering offerings will be done through a partnership with Genius Sports and its sports betting division Betgenius. As examples of in-race offerings, BetMGM stated potential bets could include “top-finishing drivers, driver matchups, stage winners, and bets tied to the number of the winning car (over/under).”

“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,” said Scott Warfield, NASCAR’s managing director of gaming. “We’re excited to have such an iconic brand on board to expand our offerings and deepen our engagement with the most passionate fans in sports.”

BetMGM is currently operating in seven states and has plans to be in 11 overall by the end of 2020. To mark the partnership with NASCAR, it is running a special promotion for NASCAR bets on the BetMGM app — available to bettors in New Jersey, West Virginia, Indiana, and Colorado — all week leading up to Sunday’s race at Daytona, the first as a road course at the famed speedway. Bettors who place any wager of $10 or more on the Go Bowling 235 race will get a $10 NASCAR free bet.

Photo courtesy of Shutterstock.com

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