Richard Childress Racing has landed BetMGM as a new sponsor, the first time one of the major U.S. sportsbooks has done a deal with a NASCAR team. The deal is for one year to start, but financial terms are not known. However, BetMGM has initially bought multiple primary sponsorship positions on both of RCR’s NASCAR Cup Series cars, Nos. 3 and 8, driven by Austin Dillon and Tyler Reddick, respectively, and may grow the partnership throughout the year. Like most teams in NASCAR, RCR talked to all the major players in the gaming space over the last year and has been in discussions with BetMGM since last summer. The key to finally getting the deal done was BetMGM extending its presence to what is now 10 states, including multiple where NASCAR runs races, and convincing the sportsbook that NASCAR fans are broader sports fans. The latter part was important because the handle on NASCAR wagering is still relatively small relative to top sports, though the sport is working to change that.
DRAFTING PARTNERS: NASCAR, which also counts BetMGM as an official partner, started allowing teams to land sports wagering sponsors in '19. RCR furthermore sold BetMGM on how it has a multi-generational appeal between its two young drivers, plus team Owner and NASCAR Hall of Famer Richard Childress. BetMGM will activate throughout the year both with the paint schemes and through social/digital content with RCR that will promote the app and show off its various betting options. The deal is largely centered around the BetMGM app, but it is possible the sides could do some promotions involving MGM properties like when NASCAR visits Las Vegas, where the first primary for BetMGM is expected to be in early March.
CHECKING ALL BOXES: RCR Senior Dir of Business Development Justin Buck said, "When we started talking to them over the course of the summer, from the very start, they got it and understood that NASCAR is a large fan base with millions of fans coast to coast. ... But what held it up is they didn’t have the critical mass of states yet to in order to engage. We checked in with them throughout the year, and as they continued to add states and finally added some within the heart of NACAR country like Tennessee and Virginia, it started to take off and connect the dots." Meanwhile, RCR also announced two partnership extensions yesterday, one with AstraZeneca brand Breztri and another with workforce management company WorkRise.
