NASCAR Gears Up to Enter Sports Betting Arena

By Jane Shaw Senior Editor Updated: 08/04/2019

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NASCAR fans can place wagers soon, Photo by Pixaby

NASCAR is revving up to make a big entrance in the legal sports betting market across the U.S. The driving force behind NASCAR looking to explore this new revenue stream is that the company wants to grow engagement levels in the world’s leading stock-car circuit, which has been impacted from declining popularity over the past decade.

From its glory days in 2005, the nation’s second-largest sport has lost more than 50% of its audience; both online and at live events.

So, while NASCAR builds its sports gambling product with Genius Sports, the sport’s governing body feels that it couldn’t happen at a more lucrative time.

Recently, NASCAR’s Managing Director of Gaming, Scott Warfield, in an interview with Casino.org, explained how the industry is gearing up to welcome gambling into its landscape.

Warfield states,

The racing on Sunday is as good as it’s ever been. If you look at the stats, at the amount of passing, green flag passes, number of winners and teams in victory lane – it makes for super in-race betting options.

How sports betting will change for NASCAR

Las Vegas won’t be the only place where wagers can be placed. In May 2018, the U.S. Supreme Court canceled the PASPA legislation because it was unconstitutional. Up till then, Las Vegas was the only place that extended betting opportunities, albeit in a very limited offering. The city’s sportsbook operators usually only provided a handful of NASCAR lines like head-to-head driver matchups and the race winner.

Now, real-time betting feeds are being designed, which include lines and odds for sportsbooks across the country, in those states where wagering has been legalized.

In-race betting options planned for the NASCAR product include:

Fastest lap
Number of lead changes
Number of passes
Stage winners

Focused on increasing engagement levels

Traditionally, fans of the sport lose interest when the car they’re rooting for is out of the running or when someone else is undoubtedly going to win. Warfield says that NASCAR hopes to change all that with in-play betting options to keep people tuned in.

The company hopes that keeping fans engaged for 45 minutes or even 15 minutes longer will significantly influence their television ratings, and enhance the overall interest in the sport.

Keeping integrity intact is essential

NASCAR is moving along fast to have its betting feed running successfully by mid-September before the Monster Energy NASCAR CUP Series goes into the play-offs. Drivers and teams are hoping for the product to debut at the South Point 400 hosted at the Las Vegas Motor Speedway.

At the same time, Warfield says the company isn’t as concerned about when the product is ready for roll out as they are focused on getting it right. Their number one priority is to not compromise the integrity of their offering.

NASCAR members banned from betting

The company is also focused on keeping its betting space as legit as it can. A policy in place states that anyone involved with NASCAR must keep away from bets, including officials, crew members, drivers, team owners, and others associated with the organization. Those caught flouting the rules or sharing information with third parties could not only be barred from the organization but could also be fined anywhere from $150,000 to $250,000.

NASCAR is collaborating with Sportradar Integrity Services to track markets for illegal activity.