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NASCAR data partnership could lead to more in-race betting

Posted by tzyy On November - 20 - 2019 Comments Off

DOVER, Del. — NASCAR is creating its first major play in the world of expanded legal sports betting, trusting a sports data partnership will cause gamblers being able to wager during races much more than just who receives the checkered flag.
Professional Sports has become the exclusive supplier of NASCAR information to licensed sportsbooks, officials announced Friday.
“NASCAR is one of the sports that I think has an great opportunity to present an intriguing betting product, especially in-game,” said Expert spokesman Chris Dougan.
Professional Sports will create an official NASCAR gambling offering for lawful sportsbooks, using NASCAR’s official data feed.
The exclusive deal lets Genius Sports help books deliver up-to-the-minute chances and a ton of conventional wagers and prop bets.
“We feel that NASCAR has a little more of an upside from the in-race event experience than some of the other stick-and-ball sports,” explained Brian Herbst, senior vice president of broadcasting and invention for NASCAR. “The in-game experience that we are building through Genius will have live odds around NASCAR.”
So a bettor could watch odds on their selected driver fluctuate throughout the race before deciding to place a wager. NASCAR expects that’ll keep fans interested (Fox Sports has averaged 5.14 million viewers this year ) in observing for the duration of a race.
“What can happen in the next five minutes? What could happen within another lap? It opens the door to a massively exciting new market,” Dougan said. “NASCAR is now starting to recognize this is a huge fan engagement tool. We provide them that supply and that reach”
Herbst stated it should take six to eight weeks for the technology to come together for in-race gambling, resulting in reside race odds by the 2020 season.
Before the beginning of the 2019 season, NASCAR acquired an integrity program and gambling policy in which the sanctioning body allowed all paths and teams the ability to market marketing sponsorships to sports betting companies and licensed sportsbooks.
One of the restrictions: drivers and team members are banned from betting on races or revealing personal details. They are allowed to participate in fantasy sports concerning both national touring series, Cup, Xfinity and Truck, but may not accept awards with a value of greater than $250 in any matches. The bans are based on other major sports.
Football, baseball and basketball historically generate the bulk of sports gambling in the USA and NASCAR has yet to ignite interest among the masses. Despite less inventory compared to other popular sport, NASCAR’s move is an effort to split a sliver of a marketplace with billions bet each year.
Vernon Kirk, director of the Delaware lottery, stated because full-scale sports betting started in Delaware on June 5, 2018, about one-tenth of 1% has been wagered on automobile racing ($208,100 out of $154.8 million), through April 28.
“I really don’t think we’ve done a really good job of taking the tools that our in our tool kit and leveraging those,” Herbst said. “We were not actually at the gaming conversation until this year. We’re still carrying a sort of pragmatic, yet staggered strategy to it.”
Nevada’s effective monopoly on sports betting ended last spring, when the Supreme Court ruled the ban should be lifted. Casinos in seven other states — Rhode Island, Delaware, Mississippi, New Jersey, Pennsylvania, West Virginia and New Mexico — currently accept wagers on sports. The listing is forecast to rise by next year with numerous states considering bills.

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