As the regulated US sports betting market matures, various sports leagues are embracing new betting products such as micro-betting and live betting. NASCAR is the latest big name to enter the micro-betting market after inking a deal with nVenue, a micro-betting technology provider, that names the firm as racing organization’s official micro-betting data and technology provider.
nVenue will be providing NASCAR with an ongoing predictive data stream that powers live betting during NASCAR races. That’s a big job in any sport, but the (literal) high speed of stock car racing makes everything happen at a much faster pace than sports like football or baseball. The company uses historical data from each track to generate live betting markets for categories such as stage results, qualifying, and pit-road betting opportunities.
Joe Solosky, NASCAR managing director of sports betting talked about the value of deal to fans in a recent press release saying, “This collaboration epitomizes a shared vision to entertain fans and enhance the race viewing experience. We are thrilled to pair our racing product with expert technology like nVenue’s to bring micro-betting to NASCAR fans going forward.”
NASCAR fans will almost certainly embrace any sort of enhanced live betting options that nVenue offers. Auto racing is the perfect venue for live betting and NASCAR’s fan base is a prime market for sports betting as a whole.
Kelly Pracht, CEO and Co-Founder of nVenue summed up the deal saying, “nVenue is thrilled to partner with the NASCAR team to build the future of in-race betting and live engagements to delight fans for years to come. It is a terrific match: nVenue brings the real-time predictive sports platform designed for micro-bets and media, and NASCAR brings the mind-share and reach of a league ready to innovate leveled-up fan experiences. We predict this industry-first collaboration will be significantly beneficial not only for sportsbooks and media, but also for NASCAR’s base of knowledgeable, and new fans.”