BetMGM struck its first NASCAR deal on Wednesday when it signed a multiyear agreement with the North Carolina-based Richard Childress Racing. The engagement will allow BetMGM to collaborate with the National Association for Stock Car Auto Racing to create and promote exciting sports betting experience for racing fans across the country.
BetMGM and NASCAR struck a multi-year partnership deal in August 2020. As an authorized gaming operator, BetMGM has certain rights to NASCAR marks, besides promoting NASCAR offerings on its mobile app, social media channels, and retail sportsbooks. However, this new deal marks the first for a NASCAR team to partner with a sports betting operator.
A Multi-Faceted Partnership
BetMGM will be the official sports betting operator of Richard Childress Racing and will also collaborate with RCR on a range of marketing and activation assets. As one of the market leaders in online gambling and digital sports betting in the US, BetMGM will also be the primary sponsor for the team during the 2021 NASCAR Cup Series races. The next race is the Daytona 500 scheduled on February 14 at the Daytona International Speedway in Flordia. RCR has won the race three times. This agreement will make BetMGM an associate partner for the cars of two of RCR’s drivers, Tyler Reddick and Austin Dillion.
While hailing the partnership, RCR Chairman Richard Childress said in a press release, “BetMGM is at the forefront of the sports betting and digital gaming industry, and RCR can certainly relate to their pioneering vision.” He added that “this innovative partnership will offer further opportunities to collaborate in novel and groundbreaking ways.”
BetMGM chief revenue officer Matt Prevost also expressed the same level of excitement over the deal, terming their new partner as one of the most respected and formidable teams in NASCAR. He said the company, a joint venture of MGM Resorts International and UK-based Entain, with its unparalleled betting technology combined with NASCAR’s races, will create a one-of-its-kind betting experience for fans across the country.
BetMGM’s Ever-Expanding Business
Currently, BetMGM is present in ten different states, following its most recent launch in Michigan and Virginia, both of which launched legalized sports betting in January. In addition to the sportsbook, BetMGM also offers digital casino and poker offerings that are available in a few states, with poker only being available in New Jersey.
In a bid to gain further hold in the US market, BetMGM has also struck partnerships with various teams and organizations, including NBA, NHL, MLB, and PGA Tour. Sports betting sponsorship has grown to be a serious business since PASPA was struck down, paving the way for the states to regulate their industries. According to GlobalData, a data and analytics firm, around $396.6 million worth of sponsorships from sportsbook operators have gone to the NFL, NHL, MLB, NBA, and MLS.