NASCAR Makes The Official Move Into The U.S. Betting Sector By Partnering With Genius Sports
Nearly a year after the Supreme Court ruling allowing individual states to determine the legality of sports betting, NASCAR has officially entered the U.S. betting sector. Since the legalization, one of the most significant issues facing different sports leagues is guaranteeing the preservation of the integrity of each.
This past week NASCAR made a move in that direction by announcing a partnership with Genius Sports in a landmark agreement that will allow the London-based sports tech and data company to provide NASCAR with an official data feed to sports betting operators. This means only operators in regulated jurisdictions will be able to access NASCAR’S official data. The hope is this agreement will lead to a more sophisticated live betting product which will in turn drive and deepen fan engagement around various NASCAR races.
Genius Sports plans to utilize NASCAR’s official data feed to construct a high-end live betting platform that will then be sold to various legal sportsbooks worldwide. Using NASCAR’s hi-tech proprietary data, Genius Sports will be able to build a real-time gaming platform that can provide fans with real-time odds on top of the customary wagers and proposition bets.
Like many other sports, NASCAR is looking for new and innovative ways to drive fan engagement. The hope is the addition of up-to-the-minute odds will keep fans engaged in the race for more extended periods.
“Partnering with Genius Sports allows us to deliver a dynamic fan engagement platform in the rapidly-growing world of legalized sports gaming,” stated Brian Herbst, senior vice president, broadcasting and innovation, NASCAR. “This new relationship will provide another entry point to the sport and complements our strategy to create a more immersive experience for fans.”
The new data partnership is not only NASCAR first into the budding U.S. sports betting sector but also Genius Sports the sole provider of NASCAR data to authorized sportsbooks.
“NASCAR fans are some of the most devoted in the world, and we look forward to helping them to create a deeper, more connected experience that is both safe and secure as the business of sports betting continues to evolve in the U.S.,” stated Mark Locke, Genius Sports CEO. “Furthermore, our global relationships will help bring the excitement of NASCAR racing to new audiences both within the U.S. and in new territories around the world.”
With 40 cars speeding around the track at over 200 miles per hour, capturing the official data is vital to the growth and development of the sports betting platform. Without it, fans may tend to lose interest as races can last anywhere from 1.5 to 4 hours.
And, only officially licensed sportsbooks in regulated territories will have access to the official data. Regulating the data will lead to greater transparency and precision, which will, in turn, help to monitor and preserve all NASCAR events.
NASCAR announced before the start to the 2019 season that they had established a comprehensive sports integrity program and gambling policy which gives all tracks and teams the capacity to make their sponsorship deals with properly licensed sportsbooks and sports-betting companies. NASCAR also entered into a partnership with Sportradar Fraud Detection System to monitor global and domestic betting activity for signs of “nefarious activity for all races across NASCAR’s three largest events: Monster Energy NASCAR Cup Series, NASCAR Xfinity Series, and NASCAR Camping World Truck Series.”
“It is critical to be proactive in developing safeguards that protect NASCAR’s on-track product from any potential integrity threats,” stated Brian Herbst, NASCAR VP of Global Media Strategy and Distribution. “Sportradar is the leader in this space and knowing that our races will be monitored extensively, while also equipping our industry with the tools and knowledge they require, gives us peace of mind in being able to preserve the integrity of NASCAR as the U.S. wagering market continues to open.”
Stay tuned for more details on NASCAR’s move into the U.S. sports betting sector.
