SharpLink drives conversion of NASCAR fans to BetMGM's sports betting depositors with 225% growth

Minneapolis-based online technology company SharpLink Gaming announced on Tuesday that its integrated C4 solution has resulted “in a measurable improvement” in the conversion of NASCAR.com fans to sports betting depositors for BetMGM for the first five weeks of the 2022 NASCAR racing season.

SharpLink, which provides targeted, data-driven user engagement and conversion solutions for the US sports betting and iGaming industries, reported its customer acquisition model has shown “increased results in all key conversion metrics,” including a 225% increase in qualified sports betting depositors for BetMGM.

Currently, the company is featuring a BetMGM bet slip module on NASCAR.com’s homepage that incorporates C4 bet recommendation algorithms in states where online sports betting has been legalized. Once a NASCAR fan clicks on the bet slip, a BetMGM promotion offer is provided to the potential bettor.

NEWS OUT: SharpLink's C4 Integration with https://t.co/eW3yB7y4Bf Delivers 225% Increase in Qualified Sports Betting Depositors for BetMGM. #SharpLinkGaming #NASCAR #BetMGM $SBET https://t.co/yum9tUc8ik pic.twitter.com/0wRNfUCJxF

— SharpLink Gaming (@SharpLinkGaming) March 29, 2022

When comparing fan engagement metrics for the first five weeks of the current racing season to the entire 2021 season averages, SharpLink found the results reflect that the percentage of NASCAR fans who engaged with promotional offers was 9.2%, and that the percentage of fans who registered with BetMGM after landing increased 72%.

Additionally, the total number of fans who deposited with BetMGM after landing was up 152%, while the percentage of fans who became qualified depositors with the sportsbook rose 225%, thus showing notable increases in all key metrics.

However, of all these results, the company says the most impressive measure of C4’s value proposition is that, following a NASCAR fan’s interaction with the bet slip, there was a 9.2% engagement rate with the BetMGM promotion offer. According to SharpLink, this “far outperforms” prevailing metrics in the market.

SharpLink's staff

“We’re eager for BetMGM to be at the forefront of innovation and SharpLink’s technology has allowed us to do just that, delivering a first-of-its-kind integration that places a BetMGM bet slip on the NASCAR home page,” said Kyle Wachtel, Head of Partnerships at BetMGM.

The executive further stated that the feature is helping the sportsbook to position itself “directly in front of NASCAR fans,” as well having contributed to increased engagement within its partnership with the league, reaching new customers and reconnecting with existing customers.

“Applying the strength and capabilities of our proprietary C4 conversion engine – the Bot Behind the Bet – is enabling forward-thinking league clients and sportsbook partners to fully optimize and benefit from customized and engaging betting content, resulting in an increase in conversion of traditional sports fans into online sports bettors,” said Rob Phythian, CEO of SharpLink.

The CEO describes NASCAR and BetMGM as enthusiastic early adopters of leading-edge technological innovations in their efforts to advance their online sports betting business strategies and optimize their marketing spending. “SharpLink is very proud to be among the solution providers they are coming to rely on to deliver technologies that can help positively impact their success,” the executive noted.