Driving Sports Betting Excitement: Tipico’s Partnership with Front Row Motorsports
In a thrilling collaboration, sportsbook operator Tipico has joined forces with Front Row Motorsports (FRM) to sponsor the No. 38 Ford F-150 in the NASCAR Craftsman Truck Series (NCTS) race. The adrenaline-pumping event is scheduled to take place on Saturday, July 8, at the Mid-Ohio Sports Car Course.
A Winning Team: Tipico and Front Row Motorsports
David Paschkes, Chief Commercial Officer at Tipico North America, expressed his enthusiasm for this exciting partnership. He highlighted FRM’s remarkable achievements in the NASCAR circuit, citing their impressive strides and monumental wins in under two decades of racing.
Paschkes emphasized the pivotal role that teams like FRM play in driving the growth of sports betting handle and increasing the sport of NASCAR’s popularity. Through this partnership, Tipico aims to expand its presence and support the NASCAR community, especially in key states like Ohio, New Jersey, Colorado, and Iowa. Their goal is to bring the thrill of sports betting directly to fans, right where the action unfolds. As a leading sports betting platform, Tipico is committed to providing an unparalleled experience for all NASCAR fans and enthusiasts.
Tipico’s Expansion in Ohio
The partnership with FRM comes on the heels of Tipico’s expansion into the Ohio sports betting market. The sportsbook began accepting deposits in Ohio on December 1, 2022, with wagering officially kicking off on January 1, 2023. This move underscores Tipico’s dedication to becoming a prominent player in the growing US sports betting landscape.
Earlier this year, Tipico teamed up with Rhinegeist Brewery to introduce the Tipico Sports Deck within the Rhinegeist Taproom, located in Cincinnati, Ohio. This sportsbook features nine additional televisions, sports-themed activations, and elevated seating, creating a vibrant and immersive environment for sports enthusiasts.
Insights into Ohio’s Sports Betting Market
In a snapshot of the Ohio sports betting scene, it’s worth noting that the combined retail and online sports betting handle saw a 40% decrease in February. February’s handle amounted to $639 million, a notable decline from the $1.1 billion registered in January, which marked the inaugural month of regulated sports betting in the state.
The Ohio Casino Control Commission (OCCC) reported that sports betting revenue also experienced a significant drop, plummeting by 60% to $83 million in February, down from the impressive $209 million recorded in January.
Within this market, FanDuel and DraftKings asserted their dominance, accounting for a combined market share of 71.9%. FanDuel secured a 37.5% market share with a handle of $232.7 million, while DraftKings followed closely with a 34.5% market share and a handle of $214 million. Other key players in the Ohio sports betting landscape include BetMGM, bet365, Caesars, and Barstool Sportsbook.
Tipico’s partnership with Front Row Motorsports adds a thrilling dimension to the world of NASCAR, intertwining sports betting excitement with the roar of the racetrack. As Tipico continues to expand its footprint in Ohio and other key states, its commitment to delivering an unparalleled sports betting experience remains steadfast. The fluctuations in Ohio’s sports betting handle highlight the evolving nature of the industry, with established brands like Tipico and FRM at the forefront of this exciting journey.