Wednesday, August 12, 2020 / by Ken Couture
MGM Resorts International’s sports betting platform is teaming up with NASCAR to offer live, in-race betting next year.
The multiyear sports betting partnership, announced Tuesday, names BetMGM as an authorized gaming operator of the auto racing association and will allow the platform to collaborate with NASCAR to create and promote sports betting experiences.
The two are exploring bet types such as top-finishing drivers, driver matchups, stage winners and bets tied to the number of the winning car, among others.
The BetMGM platform is set to expand its wager offerings through its mobile app throughout the NASCAR season, offering pre-race and in-play bets. Starting in 2021, it will begin to offer live, in-play betting, according to a Tuesday news release.
The BetMGM platform — a joint venture between MGM and GVC Holdings — is currently offered in seven states and plans to be live in 11 by year end.
According to the release, NASCAR has experienced “across-the-board growth” in its sports betting handle. BetMGM saw NASCAR turnover grow nearly 1,300 percent in the first seven months of the year. It was also the first sports league to join the National Center for Responsible Gaming, in 2019.
Scott Warfield, NASCAR’s managing director of gaming, said partnering with BetMGM will allow the association to “build on the positive energy and momentum” around in-race betting experiences.
“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,” Warfield said in the release.
Matt Prevost, BetMGM’s chief marketing officer, said the partnership will allow the two to build immersive sports betting experiences for racing fans.
“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,” he said in the statement.
Through the deal, BetMGM has obtained the right to NASCAR marks and will promote NASCAR offerings in its mobile app, website, social media channels and retail sportsbooks. The brand can also be promoted on NASCAR’s website, mobile app and social media channels.
The two are also working to develop a free-to-play NASCAR game.
In a July 30 earnings call, MGM CEO Bill Hornbuckle said the company is focused on targeting growth opportunities in sports betting, and has continued to invest capital in the platform.
“(We have committed) to positioning BetMGM as a leader in sports betting and iGaming,” he said during the call. “We believe BetMGM will allow us to more frequently engage with our guests and drive deeper loyalty to the MGM brand.”
The brand has inked a number of partnerships in recent months, including deals with the PGA Tour, Denver Broncos, the National Lacrosse League, Yahoo Sports and Buffalo Wild Wings.
In light of the new deal with NASCAR, BetMGM is offering a promotion on NASCAR bets placed on its app leading up to the debut of the Daytona Road Course at noon Sunday. The promotion is available for customers in New Jersey, West Virginia, Indiana and Colorado and awards customers a $10 NASCAR free bet when they place any wager $10 or more on the Go Bowling 235 at the Daytona Road Course.
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