How legal sports betting is helping NASCAR grow the sport
Legal sports betting is helping NASCAR grow the sport. Joseph Solosky is the Managing Director of Sports Betting at NASCAR. He believes that educating new NASCAR fans about wagering and introducing them to in-race odds is a big opportunity for the company. He hopes to convert people who watch and bet on stick-and-ball sports into racing fans.
In-race betting is a new concept for American sports bettor. In Europe, it represents the majority of betting handle. Live betting comprised 75-90% of the overall handle at Daytona 500 in 2020. BetMGM has offered in-game betting on every Cup race this season. Micah Roberts, a former Las Vegas sportsbook director, thinks in race betting can create a audience. Seamus Magee, Sports Trader at BetmGM, one of NASCAR’s three official sportsbooks partners, believes it's a good idea to introduce new betting ideas. He thinks it makes it more fun to bet as you go.
NASCAR is trying to increase the amount of money bet on the sport. It accounts for about 1% of the overall sports betting handle across the nation. Bookmakers are looking for ways to create new ways for fans to bet. Ed Salmons, a Las Vegas bookmaker, sees NASCAR as an important piece of sports gambling landscape. He believes there is a big market for it. The props available on a NASCAR race will increase in the years to come.
