Superstar Racing Experience, the new racetrack introduced by NASCAR Hall of Fame inductees Tony Stewart and Ray Evernham, is partnering with Genius Sports to strengthen the betting platform.
Genius will use the odds before the race as well as live data from the cars and tracks and pack them into various betting products. When Superstar Racing Experience (SRX) works with a betting company, that company (or companies) will use the Genius data to build odds and markets for players.
The financial terms of the contract, which covers the next five years, have not been made public.
Legal Sports Gambling, which now lives in 20 states and Washington, DC, is a popular way for emerging sports real estate to attract new fans. SRX will start its opening season for six races in June with a lead over the typical sports startup. For example, it already has a media agreement with CBS that all six short-distance races will be broadcast on Saturday’s prime time on the network’s broadcast channel.
Second, the group has a well-known and well-connected list of supporters. In addition to Stewart and Evernham, the other two co-founders are agent Sandy Montag, CEO of the Montag Group, and George Pyne, a former NASCAR executive who now heads Bruin Sports Capital.
“We see the industry developing in terms of new technology and sports games,” said Monday in a statement. “We look forward to driving fan engagement in new and creative ways and we know our partnership with Genius Sports will lay the foundation for that.”
SRX was announced last July and offers a new type of racetrack. While NASCAR is a collection of independent teams that compete against each other both on and off the track, SRX is a stand-alone model, meaning the league owns each team. This way the circuit can control the whole business like sponsorship and partnerships.
The races will have smaller fields and be shorter so that they fit in a two hour broadcast window. Drivers include Stewart, Helio Castroneves, and Mark Webber.
The story goes on
Genius Sports is in the process of listing a $ 1.5 billion SPAC deal. The company works with sports leagues around the world, including NASCAR, the NBA and the English Premier League.
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