NASCAR Has a New Gambling Partner in DraftKings

NASCAR announced a partnership with sports gambling book DraftKings on Friday, fulfilling a requirement for the sportsbook to operate in NASCAR's adopted home state of North Carolina. The deal is the first of its kind for the series, but it comes after previous gambling-related agreements to license live data for sale to sportsbooks and approve rights to bet on races.

The DraftKings deal is a must for North Carolina's gambling regulations, which require sports books to partner with at least some sports league or other entity to operate in the state. BetMGM, a sportsbook that sponsors NASCAR team Richard Childress Racing, will also be able to enter the market after entering into a deal with Charlotte Motor Speedway.

NASCAR's deal also makes DraftKings the exclusive daily fantasy sports partner of the series in both the U.S. and Canada, a separate business from traditional gambling that is available in more states. The official announcement released by NASCAR mentions that DraftKings will get "additional sponsorship benefits within the NASCAR ecosystem nationally." In other words, the series and its new sportsbook partner will work together to promote one another's interests.

NASCAR has made gambling a focus throughout the most recent wave of state-by-state legalization of sports betting. The series reportedly sees it as a tool to drum up fan interest, potentially growing the series by bringing in bettors looking for new sports to follow. By ensuring that its newest partner can operate in North Carolina, NASCAR has bolstered that opportunity in its home market.