NASCAR Approves Sports Betting Sponsorships for 2019 Season
Recent reports suggest that NASCAR will allow drivers and teams within the league to accept sponsorships from companies involved in sports betting and other forms of gambling. As if yet, the racing organization has not released a statement confirming the news. This comes less than a year after the Supreme Court’s decision to make legality of sports betting a state matter.
Sports Betting Interest in NASCAR Growing
When it comes to sports betting in the United States, many sports bookies already understand that the sports people would like to bet on most are football, basketball, baseball and hockey. This was recently confirmed in a revenue report released by the state of Nevada in which it was indicated that sports betting revenues made from the four above mentioned sports exceeded $400 million. However, those made from remaining sports, such as soccer, golf, tennis and NASCAR, only totalled to $27.1 million.
The racing organization’s move to allow sports betting sponsors may be a strategic move to increase interest in the league. It also may seem like a strategic move as many of the states that host a NASCAR race have moved to introduce legislation for sports betting.
Potential Future Sponsors
Sports betting pundits have been looking at who may become the first gambling-related organization to begin advertising in NASCAR. The South Point Hotel and Casino in Las Vegas already became a title sponsor for a team last year. It seems natural that the casino will look to do so again in 2019.
Many believe that MGM Resorts may also be looking to add their name somewhere in NASCAR. The group has already become a partner in the NBA, WNBA, NHL and MLB. It seems like only a matter of time before MGM extends their influence even further.
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