The popularity of a sport has been historically based on attendance numbers and television ratings. With the increasing access to online wagering and the availability of sportsbook mobile apps, judging popularity can also be looked at in a different way. NASCAR betting has seen a slight increase, but they are looking for more. Experts tend to agree that the peak of NASCAR betting has yet to be seen, and the growth will continue. Let’s take a look at what’s been happening to make this jump:
A New Opportunity for Growth for NASCAR
With the advent of the new Next Gen car in NASCAR aimed at creating more parity in the sport, it has not disappointed so far with four different drivers winning the first four races and two of the winners being first-time victors in the Cup Series. Now that fans are back in full force at the tracks as COVID-19 pandemic restrictions are being lifted, the excitement is greater than ever.
NASCAR has never been a hot-bed for wagering whether it was through the sportsbooks in Las Vegas or the community bookie as there wasn’t an interest in odds-making for the sport.
Now, with the 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 popularity, but still not even close to that of the typical team sports or horse racing. Enter mobile apps.
In a recent Fox Sports article, NASCAR only attributed 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 learn more about online wagering, betting will increase as is true with the opposite in that betting fans will become racing fans and inevitably increase the NASCAR fan base. Win-win for everyone.
NASCAR is Catching up to Bettors With Technology Advancements
Sports betting on NASCAR hasn’t been very easy in getting set up. The 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.
In order to have transparency to the betting public, NASCAR partnered with Sportradar to report the live timing of the races as well as specific data to other partners, most notably The Associated Press. Sportradar’s partnership assists with expert identification of nefarious acts in wagering such as someone betting on inside information or noticing certain betting patterns. Sportradar also helps to employ educational programs for drivers and the race teams.
Cross-marketing efforts with sportsbooks to help increase the popularity and awareness of NASCAR betting is also key to the success. These partnerships allow sportsbooks to promote the latest news in auto racing and afforded the opportunity for car sponsorships with the likes of
WynnBet, BetMGM and others to put 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 for sportsbooks in getting the live information to determine the winners of bets.
Tracks are also assisting in the technological advancements by increasing the wi-fi capabilities at races, including more hotspots and increased bandwidth. Vendors are now installing touch-screen kiosks at the races to allow for race betting for those that may not be able to on their mobile devices.
As states begin to allow online or in-person betting, the increase in the market-share of NASCAR betting will surely increase as well. Exciting times are here in both online betting, and in the world of NASCAR. Now is the time to take advantage of it, and many are, and we expect to see many more as the days move along.