Betway secure game-changing sponsorship deal
Last Updated on by James King
Major betting firm Betway has agreed to a deal with La Liga giants Atletico Madrid to become the club’s new international sponsor, in what is the brand’s biggest sponsorship commitment to date in the Spanish market.
It means that Betway will be the sponsor for all of Atletico Madrid’s markets, with the exception of Spain and Asia, the former being because from August 1, Spanish media and sports entities accepted a ban on betting sponsorships under Spain’s Royal Decree on Advertising.
Under the terms of this deal, it means that Betway cannot use its brand for Atletico Madrid in Spain, however, this is still being regarded as somewhat of a coup for both parties.
The blanket ban of betting sponsorships in Spain has seen Betway’s previous arrangements with smaller clubs in the country which included Deportivo Alaves, Levante and CD Leganes terminated.
CEO of Betway, Anthony Werkman, indicated the importance of such a deal for the firm, saying: “We’re incredibly proud to become the official sports betting partner of the current La Liga champions, Atlético de Madrid.
Betway adds Atletico Madrid to global sponsorship roster https://t.co/W05p8ByqYd
— SBC NEWS (@SBCGAMINGNEWS) September 7, 2021
“With a team full of internationally recognised names, this partnership will gain further exposure for our brand, which has an ambitious global vision.”
Meanwhile, Atletico Madrid Commercial Director, Inigo Aznar added, “We are very keen with our partnership with Betway outside of Spain. It is a top global player in its sector which will represent an important support to the Club’s international expansion strategy.” “We look forward to starting to work together and make this partnership a great success for both Betway and Atlético de Madrid.”
What does the deal mean for both entities?
Betway has stated that under this new deal, that there was still a substantial amount of value and a good number of benefits for both parties, with the aim being to leverage the club’s status as current La Liga champions in order to help develop Atletico Madrid’s social media content and brand presence across their current markets.
Because Betway already serves as principal partner for a number of clubs across Europe, they state that Atletico Madrid will benefit substantially here, from a single brand identity perspective, which could even lead to mutually beneficial partnerships further down the line.
While already, Atletico Madrid are seen as somewhat of a force in European football and certainly the club that has benefitted the most from the dire financial situation at predominantly Barcelona (and in the short term at least, rivals Real Madrid), this is a deal that certainly represents great timing for Betway.
Betway’s astute business model
One thing that the firm has done very well over the last decade, which has been a very successful, yet different strategy, is secure clever sponsorship deals with progressive sports clubs that have helped the brand grow.
The last year, especially, has been a successful one for Betway, having secured sponsorship deals with NBA teams of Brooklyn Nets, Chicago Bulls, Cleveland Cavaliers, Los Angeles Clippers and Golden State Warriors, with the brand entering the US market.
In addition, the brand has partnered with the West Indies Cricket, Cricket South Africa and Springboks Rugby (South Africa).
This latest partnership for Betway (Atletico Madrid), certainly represents a very exciting opportunity to help grow the brand outside the Spanish market over the next two years, which is the length of the deal.
With Betway’s entry into the US market as well, for “Atleti’s” global branding and the platform that the betting firm has to grow sponsorship partners, can also be a significant leap.