US stock car racing organisation Nascar has teamed up with sports data company Genius Sports to deliver its first ever live betting platform to legal sportsbooks.
The agreement sees Genius become the exclusive provider of Nascar data to licensed sportsbooks, marking the series’ first data partnership in the fledgling sports betting sector.
Genius will tap into Nascar’s official data feed to build a real-time gaming platform that will provide live odds and a suite of traditional wagers and prop bets.
An official announcement described the deal as ‘the first step’ towards creating a betting offering that will ‘drive fan interest’ and ‘deepen engagement’ around Nascar races.
“Partnering with Genius Sports allows us to deliver a dynamic fan engagement platform in the rapidly-growing world of legalised sports gaming,” said Brian Herbst, senior vice president of broadcasting and innovation at Nascar. “This new relationship will provide another entry point to the sport and complements our strategy to create a more immersive experience for fans.”
US sports organisations have clamoured to cash in on a major new revenue opportunity after May’s decision by the Supreme Court to strike down a federal law prohibiting sports betting in most states.
Nascar betting data will only be made available to licensed sportsbooks in regulated territories, which Genius said will aim to provide transparency and accuracy as it monitors the series’ events for safeguarding.
“Nascar fans are some of the most devoted in the world, and we look forward to helping them to create a deeper, more connected experience that is both safe and secure as the business of sports betting continues to evolve in the US,” added Genius Sports chief executive Mark Locke.
“Furthermore, our global relationships will help bring the excitement of Nascar racing to new audiences both within the United States and in new territories around the world.”
Nascar released an extensive sports gambling policy ahead of the 2019 season, permitting teams and tracks to agree sponsorship deals with betting companies and licensed sportsbooks.