The National Association for Stock Car Auto Racing (NASCAR), has recently formed a groundbreaking partnership with nVenue, a Dallas-based microbetting technology provider. They also signed a deal with betting data company Sportradar.
This long-term collaboration with nVenue aims to revolutionize the race viewing experience by introducing in-race micro betting markets and predictive content for NASCAR fans across the country. With nVenue’s expertise in machine learning and AI, this partnership promises to bring thousands of additional ways for fans to engage throughout a single race.
The collaboration between NASCAR and nVenue epitomizes a shared vision to entertain fans and enhance the race viewing experience, according to managing director of sports betting at NASCAR, Joe Solosky
“We are thrilled to pair our racing product with expert technology like nVenue’s to bring microbetting to NASCAR fans going forward.” This collaboration represents NASCAR’s commitment to innovation and providing new opportunities for fan engagement.
nVenue, with its real-time betting and predictive data engine, has already made waves in the sports betting market. Having partnered with Major League Baseball and the NBA, nVenue has added NASCAR. With its machine learning and AI technologies, nVenue generates next play probabilities and micro-bets that keep fans engaged and excited throughout the live sporting events. The platform leverages real-time data and historical race data points to create predictions and odds for each race and driver.
Kelly Pracht, the CEO and Co-Founder of nVenue, describes the partnership with NASCAR as “a fantastic match.” She believes that nVenue’s real-time predictive sports platform, combined with NASCAR’s reach and dedication to innovation, will significantly benefit sportsbooks, media, and NASCAR’s passionate fan base.
“It’s a fantastic match,” Pracht said. “nVenue brings the real-time predictive sports platform to microbetting and media. NASCAR brings the participation and reach of a league ready to innovate fan experiences. We anticipate that this industry-first collaboration will be significantly beneficial not only to sports betting and the media, but to Nascar’s new and experienced fan base alike.”
As the official microbetting technology and data provider for NASCAR, nVenue will work closely with the league to design and develop in-race odds for delivery to NASCAR fans via sportsbooks and operators. Traditional betting markets typically focus on the end-of-race outcome, such as which driver finishes first. However, in-race betting markets will introduce unique betting windows, including stage results, qualifying, pit road betting opportunities, and more. These new betting opportunities will provide thousands of additional ways for fans to engage, making every moment of the race even more exciting.
In order to create accurate predictions and odds, nVenue will leverage official live racetrack data and combine it with historical race data points. This approach ensures that fans are presented with a comprehensive and dynamic betting experience that takes into account the nuances and variables of each race and driver.
The deal with Sportradar is a four-year extension of a previous agreement. The extension now includes official betting data, with Sportradar providing NASCAR’s digital-media partners with live timing and scoring data.
“Our partnership with Sportradar is foundational to our sports-betting strategy from ensuring the integrity of our product to quickly providing authorized gaming operators and media partners with accurate, reliable data,” said NASCAR Managing Director, Sports Betting Joe Solosky in a statement. “Adding official betting data to the partnership will continue to catalyze NASCAR’s rapid growth in the sports betting space and allow fans to further engage with the sport.”
“As the sports industry’s leading technology company and a trusted partner of sportsbooks and media companies, Sportradar is uniquely positioned to support NASCAR in capturing commercial opportunities,” said Sportradar EVP, Strategic Partnerships & Content Eric Conrad. “Our ability to leverage these rights in the marketplace will ultimately enrich the NASCAR experience for fans.”
NASCAR and Sportradar’s first agreement was in 2015.
