NASCAR is expanding its business model by partnering with 1/ST Technology to introduce pari-mutuel betting at its events. This system allows fans to place wagers where the odds are determined by the total pool of bets, creating a dynamic and interactive experience. This move aligns with NASCAR’s broader strategy to enhance fan engagement while tapping into the growing sports betting market in the U.S., which handled over $93 billion in bets in 2023.
With major races like the Daytona 500 drawing over 100,000 in-person attendees and more than 8 million TV viewers, NASCAR’s entry into the pari-mutuel betting space is expected to generate substantial interest. Additionally, NASCAR recently secured a $7.7 billion broadcast rights deal spanning from 2025 to 2031, reflecting the sport’s increasing commercial value.
NASCAR looking forward to join the betting business
Joe Solosky, NASCAR’s managing director of sports betting, emphasized that integrating pari-mutuel wagering will provide fans with a more immersive experience. Pending regulatory approvals, this betting system will be available through digital platforms, mobile apps, and physical locations at race venues.
