NASCAR has banned its members from wagering on its races as more US states authorize legal wagering within their borders.
On Monday, the National Association for Stock Car Auto Racing (NASCAR) announced its new Sports Betting Policy, which bans team owners, drivers, crew members and officials from gambling on NASCAR events. The policy also prohibits sharing inside information with third parties that could be used for betting purposes.
NASCAR members are also required to fink on anyone they suspect of involvement in any of the transgressions listed above “without undue delay.” Failure to comply with the new policy could result in fines ranging from $150k-$250k, along with the possible indefinite suspension or even termination of one’s membership.
NASCAR members who violate the new policy will receive a written communication detailing the steps they need to take to get back into the body’s good books. Only after completing these requirements will a member be eligible to be even considered for reinstatement.
The policy was crafted with help from Sportradar Integrity Services, with which NASCAR inked an integrity partnership last December. The policy claims “the integrity of NASCAR Competition remains our greatest asset” and that insider betting poses “a serious threat to the integrity of NASCAR, its stakeholders and the industry as a whole.”
Despite its integrity chest-thumping, NASCAR has yet to demand an ‘integrity fee’ from betting operators, probably due to the fact that NASCAR is considered a far more niche sport for bookmakers than football or basketball, and merely computing the share of stock car betting handle owed to NASCAR could cost more than said handle.
NASCAR’s new policy doesn’t prohibit members from participating in fantasy sports, provided the prize money on offer doesn’t exceed $250. In 2015, NASCAR inked a deal naming DraftKings its Official Daily Fantasy Sports Partner.
NASCAR first announced it was looking into the need for some top-down betting guidance last October. NASCAR President Steve Phelps previewed the plan at the Dover International Speedway, which the week before launched a temporary betting station to allow race fans a chance to wager on the action.