Earlier this week, NASCAR and BetMGM announced a new partnership agreement. BetMGM will become an officially authorized gaming operator of NASCAR and will have access to official league data and information.
BetMGM will be tasked with creating fun and engaging opportunities for NASCAR fans and coming
up with new ways to bet on the sport. In-race betting will be one of the main focuses of BetMGM as they look to expand the NASCAR betting portfolio.
NASCAR has seen a recent surge in betting handle on the sport, but the organization is still well behind some of the other top leagues. All top sportsbooks take bets on the NASCAR races, but the wagering opportunities are minimal.
BetMGM and NASCAR have discussed in-race betting. The two companies are working together to figure out all of the details. There are enough stoppages during a NASCAR race that would give sportsbooks time to release the odds.
NASCAR will promote BetMGM during live races and also throughout their social media channels as a part of this agreement. The financial terms of the deal were not announced, but this is a multi-year partnership.
Engaging Fans a Goal
NASCAR has always been one of the few professional leagues that have supported betting. This belief has strengthened over the last two years as more states have legalized the industry.
NASCAR officials are looking for a new way to appeal to the younger generation, and forming this partnership is the route they chose. NASCAR believes that providing new betting options to fans will result in more engagement.
Other professional sports have taken the same approach, and sports betting operators are lining up at the chance to form a partnership with them.
iRacing Was a Success
During the COVID-19 pandemic, NASCAR was searching for ways to keep its fans engaged without live races. The organization turned to the iGaming industry, and they released their own iRacing Pro Invitational Series.
This series took place virtually, and it allowed the top drivers in the sport to take on some of the most famous tracks. Fans were allowed to watch the action unfold, and sportsbooks were able to offer bets on the events.
Now that live races are back up and running, the iRacing Pro Invitational Series has been shut down, but it could return during the traditional offseason.
Elliott Favorite at Go Bowling
The 2020 Go Bowling 235 is set to take place this weekend at Daytona International Speedway. This will be the 23rd race on the NASCAR circuit this season, and the Go Bowling 235 is a replacement race.
NASCAR has dealt with several cancellations or postponements due to the COVID-19 pandemic, and that has forced the organization to make several changes. The Go Bowling 235 will feature 65 laps on a road-style course.
FanDuel Sportsbook has Chase Elliott as the betting favorite with odds set at +420. Martin Truex Jr. (+600), Kevin Harvick (+650), and Denny Hamlin (+650) are next on the list.