NASCAR and BetMGM Announce Multi-year Sports Betting Partnership
NASCAR and BetMGM have announced a multi-year partnership allowing BetMGM to be an Authorized Gaming Operator of NASCAR. This collaboration aims to enhance sports betting experiences, including in-race betting options, for fans across the U.S. BetMGM will utilize NASCAR branding and promote offerings on various platforms, expanding its presence from seven to eleven states by year-end 2020. BetMGM plans to introduce diverse betting types throughout the NASCAR season, including live in-play options starting in 2021. The partnership is set to amplify NASCAR's growth in sports betting, with NASCAR turnover increasing by nearly 1,300%.
- NASCAR turnover for BetMGM has grown by nearly 1,300% in 2020.
- BetMGM plans to expand from seven to eleven states, increasing market presence.
- The partnership will introduce innovative in-race betting options, enhancing fan engagement.
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DAYTONA BEACH, Fla., Aug. 11, 2020 /PRNewswire/ -- NASCAR and BetMGM, a market-leading sports betting and iGaming platform, today announced a multi-year sports betting partnership. As an Authorized Gaming Operator of NASCAR, BetMGM will collaborate with NASCAR to create and promote engaging sports betting experiences, including introducing in-race betting options, for racing fans across the United States.
"Partnering with a best-in-class operator like BetMGM positions NASCAR to build on the positive energy and momentum we're seeing around gaming and in particular the live in-race experience," said Scott Warfield, NASCAR Managing Director, Gaming. "We're excited to have such an iconic brand on board to expand our offerings and deepen our engagement with the most passionate fans in sports."
As an Authorized Gaming Operator, BetMGM will have rights to NASCAR marks and will promote NASCAR offerings on BetMGM's mobile app, BetMGM.com, BetMGM's social media channels, and in BetMGM's retail sports books. BetMGM is currently licensed for sports betting in seven states and has plans to be in 11 states by the end of 2020. BetMGM and NASCAR will introduce cross-promotional opportunities that may include promotion of BetMGM on NASCAR's digital platforms, NASCAR.com, the NASCAR Mobile app, and social media channels.
Matt Prevost, BetMGM's Chief Marketing Officer said, "We're excited to work with the NASCAR team to build immersive sports betting experiences that 21st-century racing fans crave. BetMGM's unparalleled betting technology combined with NASCAR's iconic races will create a superior betting experience for racing fans all over the United States."
BetMGM will expand the portfolio of bet types offered on its mobile app throughout the NASCAR season, including pre-race and in-play bets. Bet types currently being explored include top-finishing drivers, driver matchups, stage winners and bets tied to the number of the winning car (over/under), among others. Beginning in 2021, BetMGM will offer live, in-play betting through a partnership with Genius Sports and live betting product, Betgenius, as the sport continues to strengthen its position around in-play sports betting. NASCAR and BetMGM are also working together to develop a free-to-play NASCAR game.
In celebration of the partnership, BetMGM is offering a special promotion for NASCAR bets placed on the BetMGM app leading up to Sunday's historic NASCAR Cup Series™ debut of The DAYTONA Road Course at Daytona International Speedway (3 p.m. ET on NBC). The promotion is available for eligible customers on the BetMGM app in New Jersey, West Virginia, Indiana and Colorado. Eligible customers will get a
NASCAR has experienced across-the-board growth in its sports betting handle thanks in part to the popularity of the eNASCAR iRacing Pro Invitational Series as well as the sport's successful return to racing in May. BetMGM has seen NASCAR turnover grow by nearly 1,
About NASCAR
The National Association for Stock Car Auto Racing, LLC (NASCAR) is the sanctioning body for the No. 1 form of motorsports in the United States and owner of 16 of the nation's major motorsports entertainment facilities. NASCAR® consists of three national series (NASCAR Cup Series™, NASCAR Xfinity Series™, and NASCAR Gander RV & Outdoors Truck Series™), four regional series (ARCA Menards Series, ARCA Menards Series East & West and the NASCAR Whelen Modified Tour), one local grassroots series and three international series. The International Motor Sports Association™ (IMSA®) governs the IMSA WeatherTech SportsCar Championship™, the premier U.S. sports car series. NASCAR also owns Motor Racing Network, Racing Electronics, Americrown Service and ONE DAYTONA. Based in Daytona Beach, Florida, with offices in eight cities across North America, NASCAR sanctions more than 1,200 races in more than 30 U.S. states, Canada, Mexico and Europe. For more information visit www.NASCAR.com and www.IMSA.com, and follow NASCAR on Facebook, Twitter, Instagram, and Snapchat ('NASCAR').
About BetMGM
BetMGM is a market leading sports betting and gaming platform and joint venture between MGM Resorts (NYSE: MGM) and GVC Holdings Plc (LSE: GVC). Based in New Jersey, the company was established in July 2018 to create a world-class sports betting and online gaming platform in the United States, in order to take advantage of the new opportunities created by the U.S. Supreme Court's decision to overturn the U.S. federal Professional and Amateur Sports Protection Act (PASPA). Utilizing GVC's US-licensed, state-of-the-art proprietary technology platform, BetMGM offers sports betting and online gaming via market leading brands including BetMGM and partypoker. The company has exclusive access to MGM Resort's U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. For more information visit www.roardigital.com.
Forward-Looking Statements
Statements in this release that are not historical facts are "forward-looking" statements and "safe harbor statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including BetMGM's ability to expand in new or existing jurisdictions. Management has based forward-looking statements on current expectations and assumptions and not on historical facts. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include the effects of economic and market conditions in the jurisdictions in which BetMGM operates, competition with other iGaming and sports betting platforms, the timing and costs of expanding in new jurisdictions as well as obtaining and maintaining the required permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions. In providing forward-looking statements, BetMGM is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If BetMGM updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.
CONTACTS:
Chris Tropeano
NASCAR Communications
ctropeano@nascar.com
Elisa Richardson
BetMGM Communications
press@betmgm.com
Marc Jacobson
MGM Resorts Communications
mjacobson@mgmresorts.com
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SOURCE MGM Resorts International
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