The Future of Betting and Casino Sponsorship in NASCAR
Sports betting has become a norm in the modern Canadian world, and the world of car racing has not been left behind. We can now see casino sponsorship is picking up pretty fast, with various big names in the casino industry sponsoring both small and big NASCAR events globally.
What is the drift? What does the future hold for car racing and sponsorship deals from betting and casino platforms? We linked up with our expert in this sector, Kevin Cochran (you can check his profile here), who took us down memory lane of the two sectors and also explains what the future holds for the two industries:
The National Association for Stock Car Racing, abbreviated as NASCAR, was February 21, 1948. In a matter of years, NASCAR would grow to become one of the biggest spectator sports in the US and beyond and a multi-billion-dollar industry within a matter of years.
William “Bill” France Sr. (1909-1992) is the man behind this body’s creation. He was an auto repair shop owner and mechanic who felt that there was a lot of dishonesty in car races and thus saw a need to have a regulatory body. He gathered members of the racing community to discuss the idea, and NASCAR was born in 1948, and he became the first president.
The earliest traces of gambling activity can be dated back to 2300bc. Some tiles were unearthed in Ancient China, indicating that the residents played rudimentary games of chance. Rome has been described as one of the oldest gambling cities where dice were being rolled as early as 500bc.
Baccarat is one of the earliest games that was played in Italy and France before civilization. The game is also available in modern casinos with a few modifications. The first-ever casino was established in Italy in the 17th century. The wave could then start spreading to other countries even though it faced phases of legalization and de-legalization.
NASCAR and sponsorships
NASCAR allows sponsors to paint racing cars and use NASCAR drivers as brand ambassadors and spokespersons of the sponsoring brand. This sought of arrangement has seen various brands scrambling to offer sponsorship deals in the NASCAR arena.
There was a time when sponsorship in NASCAR was seen as a preserve of motor oil, tobacco, and alcohol companies. However, Procter & Gamble changed the game in the 1980s, which saw an increase in its gross sales, thus attracting other companies’ attention.
Sports betting sponsors and NASCAR
The emergence of online casino sponsorship is not by mere luck. Different operators now understand the exposure that NASCAR gives to the sponsors. Do not get shocked when you find that your favorite Canadian best payout online casino is sponsoring a NASCAR racer.
This space may not have attracted much attention from gambling sponsors like what NBA and NFL do, but we can see that it still has a lot of potential.
What is the future of the two sectors?
Policies will be developed
Betting companies and NASCAR are two different sectors with different goals. We expect that players from the two sectors will come together and draft working terms that benefit both sectors. Such terms can be borrowed from other sectors that are already functional.
Both sectors are bound to benefit
Sports sponsorship is not a new thing. NASCAR teams will get the finances they need to grow their brands and become better at their craft. On the other hand, casinos will benefit from increased exposure, which will increase the number of users. Governments such as those in Canada will also benefit when the two sectors increase their revenues.
More sponsors will eye NASCAR
Not every business is ready to test the depth of the waters. Some of these business owners want assurance that something works before they can dive. Sponsorship is starting to grow in the sport, and it is only a matter of time that different betting and casino companies will start to scramble for sponsorship positions in NASCAR.
It is still early to predict what is likely to happen on betting, casino and NASCAR sponsorship as it is still in its early stages. However, we expect that the two industries will forge forward working relationships that can benefit both industries.