1/ST Technology and NASCAR team up to offer online pari-mutuel wagering

Pari-mutuel wagering platform provider 1/ST Technology has partnered with the United States stock car racing organization NASCAR to offer pari-mutuel betting on races.

This first-of-its-kind betting partnership will launch betting on NASCAR races across online, mobile apps, digital channels and retail and event locations in eligible US jurisdictions.

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Pari-mutuel is a form of betting that pools wagers together and pays winners a share of the total pool. It is most commonly associated with horse racing, and around US$100 billion in wagers are placed annually.

The partnership between NASCAR and 1/ST Technology will bring pari-mutuel betting to stock car racing for the first time.

1/ST Technology will offer NASCAR fans real-time updates, a variety of betting options and race predictions on its online platform.

“We are thrilled to be selected by NASCAR as their pari-mutuel betting partner,” Keith Johnson, President of 1/ST Technology, 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.”