What are the consequences of Nietzsche's discussion of religion on his understanding of morality?

In the third chapter of "Beyond Good and Evil", Nietzsche discusses ideas of today's society being mainly atheistic, although still religious. God is no longer thought of as a father, a rewarder or a judge, and is no longer "listening". However there is still a religious spirit which has evolved beyond theism. Nietzsche also speaks of how the spirit of sacrifice for religion has been refined through time: at first we would sacrifice our loved …

…come from God; in fact religion in this sense must hold back true morality. This is due to the fact that Nietzsche believes we are constantly sacrificing our own freedom and will to God, which in the end led to sacrificing God himself and a whole new type of atheistic religion. In the end Nietzsche believes in the true advancement of humanity, which can only be found through the "master morality" which religion holds back.