DOVER, Del. — NASCAR is creating its first major play in the realm of expanded legal sports betting, hoping a sports data partnership will lead to gamblers having the ability to bet during races on much more than just who gets the checkered flag.
Genius Sports has been the exclusive supplier of NASCAR information to accredited sportsbooks, officials announced Friday.
“NASCAR is one of those sports that I think has an enormous opportunity to present an exciting betting product, particularly in-game,” said Genius spokesman Chris Dougan.
Professional Sports will develop an official NASCAR gambling offering for legal sportsbooks, using NASCAR’s official data feed.
The exclusive deal lets Genius Sports assist books deliver up-to-the-minute chances and a slew of traditional wagers and prop bets.
“We believe that NASCAR has a little more of an upside from the in-race event experience than some of the other stick-and-ball sports,” said Brian Herbst, senior vice president of broadcasting and innovation for NASCAR. “The in-game experience that we’re building through Genius will have live chances around NASCAR.”
Therefore a bettor could watch odds in their chosen driver differ through the race before choosing to place a bet. NASCAR hopes that will keep fans interested (Fox Sports has averaged 5.14 million viewers this year ) in watching for the length of a race.
“What can happen in the next five seconds? What could happen in another lap? It opens the door to some hugely exciting new market,” Dougan said. “NASCAR is currently beginning to recognize this is a huge fan engagement tool. We give them that supply and that reach.”
Herbst said it should take six to eight months for the technology to come together for in-race gambling, resulting in reside race chances by the 2020 season.
Before the start of this 2019 year, NASCAR acquired an integrity program and gambling policy in which the sanctioning body granted all paths and teams the capability to sell marketing sponsorships to sports betting companies and accredited sportsbooks.
Among the restrictions: drivers and team members are banned from gambling on races or revealing personal information. They’re permitted to take part in fantasy sports relating to the three national touring series, Cup, Xfinity and Truck, but may not accept prizes with a value of greater than $250 in any games. The bans are in line with other major sports.
Soccer, basketball and baseball generate the bulk of sports betting in the United States and NASCAR has yet to ignite interest among the masses. Even with less inventory than other popular sport, NASCAR’s movement is an effort to carve out a sliver of a market with countless bet each year.
Vernon Kirk, director of the Delaware lottery,” said since full-scale sports betting started in Delaware on June 5, 2018, about one-tenth of 1% was wagered on automobile racing ($208,100 out of $154.8 million), through April 28.
“I don’t think we’ve done a really good job of taking the tools that our in our tool kit and leveraging those,” Herbst said. “We were not really at the gambling dialog until this year. We’re still taking a kind of pragmatic, yet staggered approach into it.”
Nevada’s effective monopoly online sports betting ended last spring, when the Supreme Court ruled the ban ought to be lifted. Casinos in seven different countries — Rhode Island, Delaware, Mississippi, New Jersey, Pennsylvania, West Virginia and New Mexico — now accept wagers on sports. The listing is expected to rise by next year with many states considering bills.
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