BetMGM and Nascar ink multi-year sports betting deal

BetMGM, the product of the joint venture between MGM Resorts and GVC Holdings have partnered with Nascar for sports betting.

BetMGM, the US sports betting brand operated by GVC Holdings and MGM Resorts International, has announced a sports betting partnership with North America’s Nascar.

This partnership comes after BetMGM announced it would become an official betting partner of the PGA Tour, earlier this month.

What’s covered in the deal?

Under the multi-year deal, BetMGM will serve as an authorized gaming operator of Nascar and have the rights to use the series’ official marks.

The operator will also collaborate with Nascar to create and promote sports betting experiences. This will include introducing in-race betting options for Nascar racing fans in the US.

In-play Nascar betting will begin in 2021, with BetMGM to offer live in-play betting via its deal with Genius Sports.

BetMGM will also promote its Nascar offerings on its mobile app, BetMGM desktop website, social media platforms and at land-based sportsbooks across the US.

Scott Warfield, Nascar Managing Director of Gaming said: “Partnering with a best-in-class operator like BetMGM positions Nascar to build on the positive energy and momentum we’re seeing around gaming and in particular the live in-race experience. We’re excited to have such an iconic brand on board to expand our offerings and deepen our engagement with the most passionate fans in sports.”

Matt Prevost, BetMGM’s Chief Marketing Officer said, “We’re excited to work with the Nascar team to build immersive sports betting experiences that 21st-century racing fans crave. BetMGM’s unparalleled betting technology combined with Nascar’s iconic races will create a superior betting experience for racing fans all over the United States.”

What has MGM been up to?

This news comes after the digital media giant InterActiveCorporation (IAC) acquired a 12% stake in MGM Resorts due to the potential of its online gambling operation.

According to the announcement, the Nasdaq-listed IAC has acquired a $1bn stake, which is the equivalent to approximately 12% of MGM’s shares.

IAC, which is led by media executive Barry Diller, describes itself as “builder of online companies.”

The business has previously acquired, grown and spun off a variety of businesses such as Expedia, Match.com, Daily Beast, Investopedia, and Vimeo.

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