US stock car racing series Nascar has struck a multi-year sports betting agreement with online gaming company BetMGM, which has been designated an authorized gaming operator of the organization.
As part of the deal, BetMGM will expand the portfolio of bet types offered on Nascar, including pre-race and in-play bets such as top-finishing drivers, driver matchups, stage winners and bets tied to the number of the winning car, among others.
Beginning in 2021, BetMGM will also offer live, in-play betting through Nascar’s partnership with Genius Sports and its sports betting division, Betgenius. Nascar and BetMGM are also working together to develop a free-to-play game.
Scott Warfield, Nascar’s managing director of gaming, said in a statement: “Partnering with a best-in-class operator like BetMGM positions Nascar to build on the positive energy and momentum we’re seeing around gaming and in particular the live in-race experience. 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.”
BetMGM will gain rights to Nascar marks and promote sports betting offerings on the company’s app, official website, social media channels and in retail sports books.
There is also the potential for cross-promotional opportunities that may include promotion of BetMGM on Nascar’s digital platforms, including the Nascar app and official website, as well as on its social media channels. Terms were not disclosed.
In February, Nascar signed casino operator Penn National Gaming as its first authorized sports betting partner as part of a multifaceted, multiyear deal.
In May, IMG Arena, the sports betting arm of the IMG agency, announced it would begin offering bookmakers a virtual sports betting product for the Nascar series, along with distributing the international betting streaming rights for the first time.