NASCAR Halts Plans for Barstool Sportsbook at Phoenix Raceway

NASCAR pauses plans to open Barstool Sportsbook at Phoenix Raceway

NASCAR is slowing plans to open a Barstool sportsbook at Phoenix Raceway, which hosts two Cup Series races each year.

In an interview with Gaming Today's, NASCAR general manager of sports betting Brant James told Joe Solosky that the economics of brick-and-mortar sports betting have to work for Penn Entertainment gram ticker: PENN) meaningful). Parent company of Barstool Sportsbook.

Right now, there's no point in building a sales brochure on the track," Soloski said in the interview.

Other Phoenix area stadiums and arenas also sell sports betting. These include Chase Field, home of the Arizona Diamondbacks, and State Farm Stadium, home of the NFL's Arizona Cardinals. FanDuel sportsbooks are also available at the homes of the NBA's Phoenix Suns and WNBA Mercury, while DraftKings retail brochures will be available at TPC Scottsdale later this year. The PGA Tour's Phoenix Open is held on the Stadium Course there.

Phoenix Speedway Calendar Has Questions for Penn

Every brick-and-mortar sportsbook at a stadium or racetrack is dependent on the number of events that venue hosts.

As Soloski noted in the Game Today interview, this may be an issue that Penn Entertainment is looking at, as Phoenix Raceway currently only hosts two Cup Series races per year and its contract to host the championship series is set to expire. Due next year. The track also hosts ARCA, Craftsman Truck and Xfinity Series races. But these events don't attract as many spectators as cup competitions.

That makes comparisons difficult with MLB stadiums and NBA stadiums, which host 81 and 41 regular season games per year, respectively.

The Phoenix Raceway also hosts concerts. But participants in these events may not want to place bets. At least not to the extent required for operators to open sports betting offers during concerts. Barstool Sports offers mobile sports betting in Arizona, a footprint that is not at risk if Penn ultimately decides not to build a physical book at the track.

NASCAR Raffle

In recent years, NASCAR has increased its presence in the casino gaming and sports betting industries. Today, three Cups are sponsored by casino operators including the University of Pennsylvania. The company sponsored the Hollywood Casino 400 Presented by Barstool Sportsbook in Kansas last September. Additionally, 19 games in the Cup Series, or more than half of the points races, are played in states where sports betting is legal. That includes six of the ten races that make up the NASCAR playoffs.

While NASCAR still lags behind sports like football and basketball in terms of handling, racing is becoming increasingly popular with some bettors. One reason is that bettors can consider multiple bets on a single NASCAR race. In addition to trying to correctly determine the race winner, bettors can also place head-to-head bets on whether a driver will finish in the top five or top 10, as well as manufacturer odds and more.