BetMGM Becomes Latest Sports Betting Partner of NASCAR

The embrace of the legal sports betting industry by North American pro sports leagues took another step Monday with the announcement that NASCAR is bringing on betting provider Heavyweight BetMGM as an authorized gaming partner. It is just the latest partnership deal for BetMGM which has been aggressive with its expansion in 2020 and for NASCAR as it continues to expand its already impressive reach.

The goal of the partnership is to heighten NASCAR's betting potential and to keep its fans engaged through new and exciting betting opportunities - before and during the fast-paced action. Bringing together the elite NASCAR brand and BETMGM's top-tier betting platform should be a boon for both organizations as NASCAR's reputation grows and BetMGM's name becomes more synonymous with sports betting in the US.

"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 Managing Director, 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."

The Deal

As an Authorized Gaming Operator, BetMGM gets immediate access to NASCAR marks and will use them as promotional tools for NASCAR on BetMGM's digital and media outlets and at the sportsbook’s retail locations across the country. BetMGM is currently live in 7 states with its eye on at least four more by the end of this year.

There is cross-promotional potential with the deal in which BetMGM branding could appear on NASCAR platforms such as NASCAR’s digital platforms, NASCAR.com, the NASCAR Mobile app, and social media channels. Financial terms of the deal were not released.

Expanding the Betting Opportunities

BetMGM, through the deal, has agreed to expand its menu of NASCAR bets on its incredibly popular mobile platform including a host of new pre-race and in-play bets. Included in the thinking are bets on top-finishing drivers, driver matchups, stage winners, and bets tied to the number of the winning car (over/under).

“BetMGM will expand the portfolio of bet types offered on its mobile app throughout the NASCAR season, including pre-race and in-play bets,” according to the statement.

Thanks to BetMGM's relationship with Genius Sports, the betting provider has its sights set on robust live, in-game betting for NASCAR, starting in 2021. In-play options hope to revolutionize not only NASCAR betting but other sports across the spectrum as well.

Matt Prevost, BetMGM’s Chief Marketing Officer said: “We’re excited to work with the NASCAR team to build immersive sports betting experiences that 21st-century racing fans crave. 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.”

Under the new partnership, BetMGM has also committed to the development of a free-to-play NASCAR game.

A logical Partner

BetMGM has a strong presence in seven states, three of which hold NASCAR races - Indiana, Michigan, and Nevada - the latter host two NASCAR races per year. Those events make BetMGM a logical partner for the top racing league in North America.

There has been eye-opening growth of NASCAR betting on BetMGM's apps, thanks in large part to their eNASCAR iRacing Pro Invitational Series during the lockdown and their early return to actual racing. BetMGM has reported a 1300% growth in NASCAR betting in the first seven months of this year.

Nascar Still a Fringe Sport

NASCAR still has a lot of work to do if they want to challenge football, baseball, and basketball in terms of popularity in the US - both in viewership and betting. But steps are being taken to at least close the gap just a bit.

Exposure from a huge player in the legal betting industry will help, as will the expansion and creation of a host of new and exciting betting opportunities, including the much-anticipated in-race betting, for NASCAR's hard-core and casual fan.

NASCAR aims to climb out of the second tier of popular sports in North America. Their early embrace of legal gambling, their goals of innovation, and their ability to attract some of the biggest names in the legal betting industry is a great start. NASCAR’s arrow is officially pointing up with their BetMGM partnership – look for more to come.