US sports betting markets opened the door for betting on Auto Racing
While new sports betting laws are flying through the US, many racing fans in the country are seeing the first opportunity to place bets on car races. Sportsbooks operating in the U.S. are also rushing to add racing events to their offering.
While the situation sounds like a bettor’s dream with new markets, untested opportunities, and interesting props, the industry is still picking the best way to serve gamblers and sportsbooks.
The bet is enabled in authorized states
While legislators are still looking at the legalization of sports betting in California, many wagers can still place their bets on sportsbooks outside the state and enjoy watching their bets win at places like the Rancho Mirage showings. Nonetheless, California would be asked to join other states to allow legal wagers on sports. This could create a profitable industry that is valued at billions of dollars. We can expect serious competition among opponents with gambling interests within the state.
Meanwhile, twelve states in the U.S. fully allow sports betting as of August 2019 – Nevada, New Jersey, Delaware, Pennsylvania, West Virginia, Mississippi, Rhode Island, New Mexico, Arkansas, New York, Iowa, and Oregon.
A significant number of other states have adopted regulations that are expected to open or are expected to open sports betting markets soon. This list includes Montana, Indiana, Tennessee, and the capital of Washington, DC.
The rules for sports betting vary by state. Some of them have sports betting bets online from anywhere in the state. In other states, the gambler must attend a sportsbook facility when placing a bet.
Residents of states with authorized sports betting are encouraged to consult the guidelines in their jurisdiction before placing a bet.
Popular racing series are the most available
As you would expect, the most viewed race series in the US is the most available bets offered by sportsbooks. NASCAR and IndyCar Series account for a significant portion of domestic betting.
Fans of international Formula 1 and endurance events can also find opportunities in sportsbooks. For example, there are currently opportunities for winning drivers, car brands, and qualifications available in the upcoming Belgian Grand Prix and season championships.
Online betting offers security and convenience
For states with authorized online sports betting, bet transactions can be performed quickly and securely from any computer or mobile device with an internet connection.
Sportsbooks that accept online betting range from established global gambling brands to reliable new entrants, some of whom are instantly recognizable names for race viewers.
FOX Sports, for example, one of the leading racing channels in the US, goes beyond TV distribution. The network partnered with The Stars Group to create the recently released FOX Bet mobile app – online gambling and content platform covering a variety of sports.
NASCAR is at the forefront of US Auto Race betting
NASCAR particularly embraces sports betting in the US as a way to enhance the fan experience. The organization recently partnered with sports data company Genius Sports to strengthen its profile in the emerging gambling industry while also integrating with sportsbooks.
Under the partnership, NASCAR offers sportsbooks real-time racing opportunities, data-driven betting structures, and creative props. This is an approach for NASCAR to understand how fans interact with the brand while placing bets.
NASCAR expects to have live bets accessible before the 2020 season
Car racing betting in the US is, without a doubt, a market in its beginnings but growing at a faster rate.
In Delaware, just over $ 208,000 of the $ 154.8 million in sports bets in the state were spent on auto racing for the period between June 2018 and April 2019.
Still, early adoption gamblers and NASCAR’s push into the country’s sports betting markets prove that there is a viable product here. Impressive figures related to car racing as a part of sportsbook revenues are largely due to lack of consumer awareness.
It will be a while before the general public seizes the gambling opportunities in the race. But it may not be as long as new sportsbooks enter the US at a constant rate.