DraftKings, a leading digital sports entertainment and gaming company, and NASCAR, the premier stock car racing organization, have announced a new partnership that will allow DraftKings to operate in the state of North Carolina, pending licensure and regulatory approvals.
A written designation agreement
The partnership is based on a written designation agreement, which is a requirement for sports betting operators in North Carolina under the state law that was passed in 2022. The law allows sports betting on professional and collegiate sports, but only through a limited number of licenses that are tied to the state’s five professional sports teams, two speedways, NASCAR, the PGA Tour, or two Tour event hosts.
DraftKings and NASCAR have agreed to terms on such an agreement, paving the way for the digital sports entertainment and gaming company to apply for a license and offer its mobile sportsbook app to fans in the state of North Carolina.
An exclusive daily fantasy sports partner
In addition to the written designation agreement, DraftKings has also been named the exclusive daily fantasy sports partner of NASCAR in the United States and Canada. This means that DraftKings will have exclusive rights to offer daily fantasy sports contests based on NASCAR races and drivers.
DraftKings has also become an Authorized Gaming Operator of NASCAR, and will receive additional sponsorship benefits within the NASCAR ecosystem nationally. This includes access to official NASCAR data, marks, and logos, as well as enhanced fan engagement opportunities.
A long-standing collaboration
The partnership between DraftKings and NASCAR is not new, as the two entities have been working together since 2015, when DraftKings became the first daily fantasy sports partner of NASCAR. Since then, DraftKings has offered various NASCAR-themed contests and promotions, as well as live in-race betting options for its users.
“DraftKings and NASCAR have collaborated closely with each other over the years, sharing a like-minded commitment to enhancing the fan experience,” said Matt Kalish, president of DraftKings North America. “We look forward to the next chapter in our journey together and offering our leading mobile sportsbook to fans in the state of North Carolina.”
“DraftKings has a proven track record of enhancing the fan experience across sports,” said Joe Solosky, NASCAR managing director, sports betting. “We are thrilled to continue working with DraftKings to deliver NASCAR fans more engagement opportunities and bring its leading mobile sportsbook to North Carolina.”
A growing market for sports betting
North Carolina is the latest state to join the sports betting market in the United States, following the landmark Supreme Court ruling in 2018 that struck down the federal ban on sports betting. Since then, more than 30 states have legalized some form of sports betting, creating a booming industry that is expected to generate billions of dollars in revenue and taxes.
DraftKings is one of the leading players in the sports betting industry, operating in 27 states as of January 2024, following its announced plans to enter Vermont on January 11. DraftKings offers a variety of sports betting products, including pre-game, in-game, and prop bets, as well as daily fantasy sports, online casino games, and online poker.
NASCAR is also one of the most popular sports in the United States, attracting millions of fans and viewers every year. NASCAR has been embracing sports betting as a way to increase fan engagement and revenue, as well as to reach new and younger audiences. NASCAR has partnered with several sports betting operators, including BetMGM, Penn National Gaming, WynnBET, and Barstool Sportsbook, to offer official NASCAR betting products and promotions.
The partnership between DraftKings and NASCAR is expected to benefit both parties, as well as the fans and the state of North Carolina, by providing a new and exciting way to enjoy and participate in the sport of stock car racing.
