Now the Covid-19 restrictions are nearly non-existent and the enormous crowds are returning to the NASCAR tracks around the country, there is another population of NASCAR fans that are adding to the popularity of the sport: online bettors. NASCAR’s popularity has been historically based on attendance numbers and television ratings. With the increasing access to online wagering and the availability of sportsbook mobile apps, NASCAR’s exposure to fans is growing rapidly. NASCAR odds have seen a slight increase in the last year and officials are looking for more. Consensus is that the potential of NASCAR betting has yet to be seen, and the growth will continue exponentially.
NASCAR’s New Revenue-Generating Engine
NASCAR’s new Next Gen car aims to create more parity in the sport. It has not disappointed this season with five different drivers winning the first five races and two of the winners being first-time victors in the Cup Series. Each of the five winners are also under the age of 30, creating more buzz in the younger generation of race fans.
There has not been an interest in odds-making in NASCAR previously due to the difficulty of handicapping races. Now, with the increasing legalization of online gaming and sports betting, wagering on your favorite driver or picking a prop bet for an upcoming race or an end-of-year futures wager, is now easier than ever. It is picking up excitement, but still not even close to that of the typical team sports or horse racing. Enter mobile apps.
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NASCAR only contributed 0.1% of all online betting in 2020. That figure increased to 0.25% in 2021, but the potential for NASCAR betting has enormous potential with its fanbase. As NASCAR fans begin to experience the excitement of online wagering, betting will increase as is true with the opposite in that betting fans will become racing fans, inevitably increasing the NASCAR fan base.
Technology Advancements Help Bettors Race to NASCAR
Sports betting on NASCAR hasn’t been very easy in getting set up. The “Big 4” sports leagues basically follow the same wagering system, whereas NASCAR’s system is more intricate as more technology is needed to ensure that integrity is not compromised. This required a partnership with several entities.
Transparency in wagering is imperative to the betting public, so NASCAR partnered with Sportradar to report the live timing of the races as well as specific data to other partners, like The Associated Press (AP). Sportradar’s partnership assists with identification of improper acts in wagering such as someone placing a bet based on insider information or flagging betting patterns. Sportradar also helps to employ educational programs for drivers and the race teams.
Cross-marketing efforts with sportsbooks to help increase the awareness of NASCAR online betting is also important to the success. These partnerships allow sportsbooks to promote the latest news in auto racing and provide the opportunity for car sponsorships with the likes of
WynnBet, BetMGM and others to boldly display their names on the sides of cars each week. Just as The Associated Press distributes race information to the public, Genius Sports does the same by getting live information to sportsbooks to assist in the determination of the winning bets.
Technological advancements at the race tracks around the country are providing assistance in growing wagering possibilities by increasing the wi-fi capabilities at races, including more hotspots and increased bandwidth. Vendors are installing touch-screen kiosks at the race tracks to allow for betting for those that may not have mobile capabilities to place wagers on their devices.
As states begin to allow online or in-person betting, NASCAR’s betting market-share will surely increase as well from its current levels. Exciting times are here in both online betting, and in the world of NASCAR. Expect to see many advancements in NASCAR betting as this may be the ground-floor in what could be the next big thing in the wagering world..
