NASCAR: Racing markets are a 'huge technological innovation'

As legalized sports betting begins to take over the US, many sports teams and leagues are beginning to sink into the waters of the gambling industry.

What's this?

data art welcomed NASCAR 's Joseph Solosky to discuss how the car racing series is harnessing sports betting products to drive increased levels of engagement.

Who is this?

Joseph Soloski, managing director of NASCAR

Russell Karp , VP of Data Art

Matthew Schatz , Advisor DataArt

Kevin Twitchell , Advisor DataArt

What do they say?

Soloxy explained: “Essentially, offering these in-race markets is a huge technological innovation. If you look at the official data feed that NASCAR provides for our timing and scoring, it's not balls and shots.

“If you watched last weekend's race for the Coca-Cola 600, you're looking at the hundredth or 1000th of a second that separates the cars on a lap, so the official pitch is vital to the sport and to the outcome of betting. When it comes to such a thin stock, whether it's lap results or just all race results, this official submission is vital to the market."

When asked what was holding back the project, he replied, “I think it was a lot of factors. We've had time and results for quite some time now and it came across our daily fantasy partners who used it, but on the micro level of those race betting there was a lot of innovation that needed to be passed down from us and our explanations in terms of data feed supplier, and then the supplier building those markets.

“And not just creating markets for the sake of creating markets, but also creating markets that really had to do with what a motorsports bettor or a NASCAR player would like to bet on, so there is a lot of research that goes into that as well.”

Why should I watch this?

To learn about how sports organizations are integrating live betting into their products and leagues.

Where can I see more?

Source: DataArt YouTube channel.

NASCAR message: "Racing markets are a 'huge technological innovation'" first appeared on GamblingTV.com.