Motor sports have been popular in the United States for many years, and their overall increase in popularity can be attributed in part to the 2020 pandemic. However, this may also be due to the ongoing legalization of sports betting across the country and the increasing availability of new car racing betting options. Since the activity became legal in 2018, NASCAR has led the way, accelerating its efforts to integrate sports betting and placing it at the forefront of the nation’s betting industry.
By attracting new fans and bettors, NASCAR hopes to increase popularity without focusing on pulling fans away from other popular sports. The simplicity of betting on car races is another method of attracting new bettors as they don’t have to deal with complicated things like winning Point Spread Betting. In addition, more bettors bring more interested viewers to the sport, who could become die-hard fans in the future.
Don’t slow down
NASCAR is pushing to capture a more meaningful share of the sports betting market. The circuit accounted for about 1 percent of the total sports bets processed in the US in 2020, which more than doubled to 2.5% in 2021. While this may not seem like much, the potential for a significant increase in growth will lead to more bets.
NASCAR has also contracted with gaming content providers to help bettors analyze their bets. They also partnered with major sportsbooks like BetMGM to entice fans to open mobile betting accounts. NASCAR sees this as a fan engagement strategy rather than a moneymaker, and uses sports betting to grow the sport’s base.
The circuit has been busy as the latest figures for the first quarter of 2022 showed only a slight increase in NASCAR betting. That may not seem encouraging, but NASCAR betting has improved every year since sports betting was legalized in 2018, largely due to national television coverage. Sporting events that are televised always attract more bets than others.
Adding a second screen
As with any other sport, some NASCAR fans oppose sports betting because of their personal beliefs. However, they don’t want to risk alienating these fans and are taking a different route than the usual means of broadcasting events. They are working with their broadcast partners to potentially put cameras in each car so individual drivers have the option of seeing a second screen for fans if they wish.
They are also hoping that the launch of the ‘next gen’ cars in 2022 will help improve the second-screen experience while driving betting on vehicle manufacturers, which is one of the betting options on offer.
NASCAR is also working to keep up with technological innovations. For example, thousands of fans are now streaming live video over the stadium WiFi while on the circuit. Additionally, they recently inked a deal with BettorView, which will install betting kiosks at NASCAR-owned venues and allow bettors without mobile access to bet on-site.
The sport has also received a major boost from in-race betting. According to NASCAR sports betting manager Joe Solosky, some bookmakers took almost as many bets on the Daytona 500 last year as they did on all of NASCAR in 2020.
NASCAR hopes to gain a more significant stake in the sports betting business by continuing to grow and improve its race betting model. In-game betting is the trend of the future in sports betting and continues to grow across all sports markets.
The sports betting industry has yet to realize NASCAR’s full potential, but if it continues to grow as expected, the industry will have no choice but to pay attention. Betting has been shown to entice fans to increase their sporting engagement.