How NASCAR In-Game Betting is Benefiting the Sport
National Association for Stock Car Auto Racing is a privately owned company known for stock car racing. It was founded in 1948 by an American.- Published by Kunal Chowdhury on .
National Association for Stock Car Auto Racing is a privately owned company known for stock car racing. It was founded in 1948 by an American.- Published by Kunal Chowdhury on .
National Association for Stock Car Auto Racing is a privately owned company known for stock car racing. It was founded in 1948 by an American businessman and racing driver called William Henry Getty France, commonly referred to as Bill France Sr. A truant in his teenage years, Big Bill would use this time to make laps in the family’s Ford at the board track near Laurel, Maryland.
In his effort to rid the sport of unscrupulous promoters who would swindle the drivers of their pay, Bill reached out to mechanics, car owners and drivers to propose a new system that would be beneficial for all. On February 21, 1948, at the Streamline Hotel, Daytona Beach, NASCAR was born.
The improvements brought about by Big Bill revolutionised the sport and made it into an effective and profitable business model. Getting rid of the dirt tracks and building a quarter or half mile racing track where tickets could be sold at the gate showed high lucrative potential.
From the company’s headquarters at Daytona Beach, Florida, the sport has grown its fan base and flags off over 1500 races in 48 states as well as Europe, Canada, and Mexico. The first official stock car race sanctioned by the company took place at Charlotte Speedway in North Carolina on June 19, 1949. It attracted a crowd of 13,000 fans.
At its peak, NASCAR had about 20 million viewers, making the 2006 Daytona 500 the most watched race in NASCAR history. However, the numbers have been declining steadily over the years. According to Statista, in 2021, the NASCAR series cup averaged 2.93 million viewers.
The US Supreme Court’s decision to strike down the federal ban on single-game wagering breathed life into NASCAR. The reduced number of fans and the dwindling revenue had almost brought NASCAR to its knees. It is now hard at work to grow its fan base, using in-race betting and access to content about the racers and vehicle manufacturers.
The introduction of live betting, commonly referred to as in-race betting in NASCAR, spells out massive potential for this sport and those associated with it. At a Daytona event in 2020, one betting operator did 90% of his revenue at the event.
In-race betting demands thorough research of the driver’s current form & history at a particular track, the race track itself, and events in the week leading up to a race. Bettors must take into consideration the racer’s starting position and the pit stall selections determined by the qualifying runs.
NASCAR insists that its plans do not involve pulling punters away from their current sports, but rather to have them include it in their betting portfolio. Offering NASCAR odds, while educating them will go a long way in cementing the adoption of NASCAR in-game betting.
Technological innovations have also set the stage for NASCAR betting. Thousands of spectators on the stadium stands can now access Wi-Fi and stream the race as it happens. This enables real-time analysis of the race, giving the fans the required data to make a winning bet.
In 2020, NASCAR betting numbers accounted for 1% of total betting in the US. This grew to 2.5% in 2021 and is continuing to show signs of massive uptake. As NASCAR continues to roll out educational plans for its race fans, popularity for these platforms will grow exponentially.
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