NASCAR has agreed a multi-year sports betting partnership with BetMGM which sees the igaming platform become the competition’s authorised gaming operator.

As a result of the partnership, the two entities will collaborate to create and promote sports betting experiences such as introducing in-race betting options for its US fanbase.

“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,” stated 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.”

BetMGM also has gained the rights to use NASCAR marks whilst promoting the new offering across its social media platforms. Additionally, NASCAR will also promote BetMGM’s brand across its own digital mediums including NASCAR.com, the NASCAR Mobile app, and social media channels.

Matt Prevost, BetMGM’s Chief Marketing Officer, added: “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.” 

A variety of bet types are currently being explored including top-finishing drivers, driver matchups, stage winners and bets tied to the number of the winning car (over/under), among others. The operator is currently licensed for sports betting in seven states, however the firm has plans to expand its reach to 11 states by the end of 2020.

The partnership will prove to be beneficial to both companies with NASCAR experiencing across-the-board growth in its sports betting handle, partly due to the popularity of the eNASCAR iRacing Pro Invitational Series and the sport’s successful return to racing in May. Moreover, BetMGM has seen NASCAR turnover grow by nearly 1,300 per cent in just the first seven months of the year.