NASCAR and 1/ST Technology Thursday announced a pari-mutuel betting partnership that will propel the stateside launch of pari-mutuel NASCAR wagering across web, mobile app, digital channels and at retail or event locations in eligible U.S. jurisdictions.
1/ST Technology specializes in pari-mutuel betting solutions.
“We are thrilled to be selected by NASCAR as their pari-mutuel betting partner,” 1/ST Technology President Keith Johnson said in a statement. “This collaboration further demonstrates 1/ST Technology’s commitment to innovation and the continued diversification of its business across all sports. Along with our NASCAR partners, we aim to elevate fan engagement to new heights, with unique betting opportunities and markets that will enhance the excitement of every race.”
Pari-mutuel betting allows operators to offer high-variability event markets that include many potential outcomes and bet types by taking a percentage of the total dollars wagered. It is the primary form of wagering on thousands of global horse racing events, while also offered on sporting events, handling more than $100 billion in wagers annually. According to the release, the pari-mutuel model enables data aggregation across operators and jurisdictions, ensuring the liquidity needed for jackpot bets.
“NASCAR and 1/ST Technology share a commitment to innovation and optimizing the fan experience,” said NASCAR Managing Director Sports Betting Joe Solosky. “Together, we aim to create memorable moments for fans by integrating technology with the passion and excitement of NASCAR racing.”
1/ST Technology is a division of 1/ST, a North America’s thoroughbred racing, wagering, entertainment and content company. It provides pari-mutuel and fixed-odds betting solutions and gaming technologies for sporting events and global fan bases.
