NASCAR introduces pari-mutuel wagering for fans, facilitated by 1/ST Technology
NASCAR fans can now get a taste of the action like never before! A groundbreaking partnership between NASCAR and 1/ST Technology has brought pari-mutuel betting to the world of stock car racing. Starting February 20, 2025, fans can put their racing knowledge and luck to the test through websites, mobile apps, and select retail locations (where legally permitted).
1/ST Technology, under The Stronach Group business umbrella, is an industry leader in pari-mutuel betting solutions. With brands like AmTote, Xpressbet, 1/ST BET, XB SELECT, XB NET, PariMAX, and Betmix, they focus on revolutionizing the betting experience by merging innovation with a deep understanding of wagering markets. This innovative approach makes 1/ST Technology a perfect fit for NASCAR's dive into pari-mutuel betting.
The pari-mutuel system is a game-changer. Unlike traditional betting, where each bet is independent, all bets go into a shared pool. Payouts depend on the total amount wagered and the number of winning tickets. This system is popular in horse racing and is now making its way to NASCAR. Keith Johnson, President of 1/ST Technology, said, "We're stoked to team up with NASCAR and bring this style of betting to the sport. It's a fantastic chance to ramp up the experience for fans."
This venture gives NASCAR fans numerous opportunities to get involved, from picking a race winner to betting on specific drivers or predicting key moments. Joe Solosky, NASCAR's Managing Director of Sports Betting, said, "We're always on the hunt for ways to make race day even more thrilling. This partnership brings a whole new layer of excitement to how fans can engage with the sport."
With over $100 billion wagered each year through pari-mutuel betting worldwide, NASCAR is jumping into a growing market. With live updates, various wagering options, and the ability to pool bets across operators and jurisdictions, it's sure to be an exhilarating ride for fans.
As the sports betting landscape expands, so does NASCAR. With more states opening up to sports betting, NASCAR follows the trend of major sports leagues integrating gambling to boost fan engagement and revenue. However, before bets can be placed, 1/ST Technology must secure approval from state regulators where sports betting is legal, ensuring everything is above board.
Responsible gaming is a top priority for NASCAR. In November 2024, they partnered with the American Gaming Association (AGA) to promote responsible gambling during big races. As pari-mutuel betting rolls out, NASCAR will continue pushing safe betting practices.
What's next for NASCAR? This move into pari-mutuel betting could bring in new fans while giving long-time supporters an exciting way to interact with the sport. With the platform set to launch soon, it will be fascinating to watch how this partnership evolves. No matter what, NASCAR and 1/ST Technology are ready to elevate the racing experience for fans!
- The Stronach Group's subsidiary, 1/ST Technology, introduces responsible pari-mutuel betting to the world of NASCAR racing, allowing fans to bet on race winners, drivers, key moments, and more through various online platforms, mobile apps, and select retail locations.
- With the 2025 launch of this partnership, NASCAR fans will have a new layer of excitement, placing bets in a system popular in horse racing, where all bets go into a shared pool.
- Stronach, an industry leader in pari-mutuel betting solutions like AmTote, Xpressbet, and 1/ST BET, aims to revolutionize the betting experience with its innovative approach, making it a perfect fit for NASCAR's foray into pari-mutuel betting.
- As sports betting trends rise and more states legalize sports betting, NASCAR joins major sports leagues in integrating gambling to amplify fan engagement and revenue, while maintaining a strong commitment to responsible gaming practices.
- With the forthcoming partnership, NASCAR fans can look forward to an immersive, interactive experience guided by innovations in pari-mutuel betting platforms powered by 1/ST Technology, set to transform the racing landscape.
