FanDuel, NASCAR Announce Partnership

Posted on: August 25, 2023, 12:58h. 

Last updated on: August 27, 2023, 12:04h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

FanDuel and the National Association for Stock Car Auto Racing (NASCAR) announced a deal on Friday in which the sportsbook operator will become an authorized gaming operator of the motorsports series.

FanDuel NASCAR
Scenes from the May 2022 NASCAR race at Kansas Speedway. FanDuel is now an authorized gaming operator of NASCAR. (Image: Racing News)

Financial terms of the multiyear accord weren’t disclosed. As part of the agreement, FanDuel will leverage a former driver and current on-air personality to spread the word about its NASCAR wagering menu.

In addition to its partnership with NASCAR, FanDuel has brought on NASCAR on FOX Analyst and racing icon Clint Bowyer as a FanDuel Ambassador. Bowyer will help engage race fans by promoting FanDuel NASCAR offerings,” according to a statement.

FanDuel is the largest online sportsbook operator in the US and is 95%-owned by Dublin-based Flutter Entertainment (OTC: PDYPY).

NASCAR Extends Betting Embrace

Motorsports, including NASCAR, reside in the “other” category in the sports betting realm — the group of sports behind football, basketball, and baseball in terms of wagering popularity.

To NASCAR’s credit, it saw an opportunity in sports wagering following the 2018 Supreme Court ruling on the Professional and Amateur Sports Protection Act (PASPA). In fact, the motorsports series became the first sports association to partner with the American Gaming Association (AGA), doing so in 2023. Over the past several years, sportsbook operators, including FanDuel, experienced an uptick in NASCAR wagers.

“Since then, sports betting on NASCAR has increased exponentially as betting operators saw a 51.5% increase in the total amount of money wagered on NASCAR in 2022 compared to the previous year,” added the statement. “From 2021 to 2022, FanDuel saw a 70% increase in NASCAR bets placed on their platform, leading to an 88% increase in handle showing the continued growth in engagement opportunities for fans through betting.”

FanDuel offers mobile sports wagering in 19 states, nine of which are homes to NASCAR races.

Gaming Gaining NASCAR Prominence

Due to its corporate ties, including those applied to race names and individual cars, NASCAR makes for fertile territory for gaming companies looking to attract new patrons.

In 2023, four races in the NASCAR’s top series will be sponsored by gaming operators. Two, the Hollywood Casino 400, Presented by Barstool Sportsbook and the South Point 400, are part of NASCAR’s 10-race playoffs. The Hollywood Casino race is held at Kansas Speedway, while the South Point 400 takes place on October 15 at Las Vegas Motor Speedway.

FanDuel rivals DraftKings and BetMGM also sponsored cars at select races this year. Separately, NASCAR announced a deal with nVenue in which that company will become the series’ official micro-betting provider.

That platform will feature wagering opportunities on race stages, qualifying, and pit stops, among others.