Posted on: June 26, 2023, 04:41h.
Final up to date on: June 27, 2023, 12:33h.
NASCAR is pumping the brakes on plans to open a Barstool sportsbook at Phoenix Raceway, which hosts two Cup Collection occasions yearly.
In an interview with Gaming At this time’s Brant James, NASCAR Managing Director of Sports activities Betting Joe Solosky mentioned the economics of a brick-and-mortar sportsbook on the observe have to make sense for Penn Leisure (NASDAQ: PENN), the mother or father firm of Barstool Sportsbook.
Proper now, it simply doesn’t make sense to construct out that retail e-book on the racetrack,” Solosky mentioned within the interview.
Different Phoenix-area stadiums and arenas are houses to retail sportsbooks. These embody Chase Discipline, dwelling of the Arizona Diamondbacks, and State Farm Stadium, which is the house area for the NFL’s Arizona Cardinals. The house area for the NBA’s Phoenix Suns and the WNBA’s Mercury additionally has a FanDuel sportsbook, whereas a DraftKings retail e-book is scheduled to open later this 12 months at TPC Scottsdale. The Stadium Course there hosts the PGA Tour’s Phoenix Open.
Phoenix Raceway Calendar Problematic for Penn
Any brick-and-mortar sportsbook positioned at a stadium or raceway relies on the variety of occasions hosted by that venue.
As Solosky famous within the Gaming At this time interview, that could possibly be a problem Penn Leisure is monitoring, as a result of as issues stand right now, Phoenix Raceway hosts simply two Cup Collection occasions per 12 months, and its contract to host the championship race expires subsequent 12 months. The observe additionally hosts ARCA, Craftsman Truck, and Xfinity sequence races. However these occasions don’t draw crowds on par with the Cup Collection.
That makes for powerful comparisons with an MLB stadium or NBA area, which host 81 and 41 common season video games per 12 months, respectively.
Likewise, Phoenix Raceway hosts live shows. However attendees to these occasions doubtless aren’t trying to place wagers. Not less than to not the extent that an operator requires to have a sportsbook open throughout a live performance. Barstool Sports activities affords cell sports activities betting in Arizona, and that footprint wouldn’t be threatened ought to Penn in the end determine in opposition to constructing a bodily e-book on the racetrack.
NASCAR’s Betting Ties
Over the previous a number of years, NASCAR has elevated its embrace of the on line casino gaming and sports activities wagering industries. At this time, three Cup Collection races are sponsored by on line casino operators, together with Penn. That firm sponsored the “Hollywood On line casino 400, introduced by Barstool Sportsbook” in Kansas final September.Moreover, 19, or greater than half, of the points-paying Cup Collection races happen in states the place sports activities betting is authorized. That features six of the ten races that comprise the NASCAR playoffs.
Whereas NASCAR nonetheless lags soccer and basketball, amongst others, by way of deal with, the motorsport is gaining reputation amongst some bettors. One purpose why is the number of wagers a bettor can think about on only one NASCAR race. Along with making an attempt to correctly choose the race winner, bettors can wager on head-to-head props, together with whether or not a driver will end within the prime 5 or prime 10, and producer odds, amongst others.