NASCAR is set to write a set of rules relating to sports betting in the near future. The new rules will make sure NASCAR catches up with a post-PASPA USA. The new rule set should also bring the motorsport in line with other top sporting disciplines. The rules will be worked on in the closing stages of this year and will be implemented for the 2019 season.
NASCAR is set to create rules and regulations for governing sports betting in the sport. This will include governing sponsorships and if drivers and teams can place wagers.
NASCAR Desperately Needs Sports Betting Rules
The news came after Steve Phelps, the president of NASCAR, spoke to the media at the Dover International Speedway. William Hill has just opened a sports book at the track, near the Monster Monument. This is the first time on-track betting has been allowed. Phelps said that, as it stands right now, people can bet on the races, with William Hill having a sports book at the track.
However, he went on to say that NASCAR will have a look at sports betting and come up with a list of rules. These will likely include rules surrounding sponsorship, who is allowed to bet, etc. One area where NASCAR desperately needs to catch up is with participants betting on the sport. Currently, there are no regulations in place to prevent drivers, or other team members, from betting on races. This has caused concern with regards to the integrity of the sport. Back in 2004, a driver bet on himself to win the Daytona 500. While he was unsuccessful, it caused quite a stir, and he was not reprimanded in any way.
Sports Betting Could be Big for NASCAR
It is believed that sports betting could be big for the sport. While the sport doesn’t tend to attract that many gamblers, it could be beneficial in other ways. Delaware has released some figures related to betting on NASCAR. The sportsbooks in the state have seen just $60 000 in bets on the sport, which represents 0.2% of the total bets placed.
However, from a sponsorship standpoint, it could be big business for the sport. It is thought that many sportsbooks will begin sponsorship deals with NASCAR teams, due to the high return on investment. And who knows, once sportsbooks begin to sponsor teams and events, more fans might start placing wagers.