Betting agency Betway has signed a third high-profile partnership in Spain over the course of two weeks with La Liga soccer franchise RC Celta de Vigo. The tie-up comes amid uncertainty about the advertising of betting products in the country.
Betway Continues to Grow Presence in Spain
Sports betting company Betway has minted a fresh partnership with RC Celta de Vigo, a third similar deal with a Spanish soccer franchise over the past few weeks. The move signals Betway’s determination to cement its presence in the Spanish sports betting market despite fears that the government may soon restrict the better part of betting advertisement and force betting agencies logos off the shirts and training facilities owned by sports teams.
As per the terms of the partnership, Betway will display its logos in the team’s home stadium, the Estadio Municipal de Balaídos. According to Celta president, Ricardo Barros, the team was very happy with the current partnership, citing the brand’s international prestige as one of the key reasons why the team was looking forward to working with Betway.
He further explained that signing a partnership with Betway was not easy at first, as most betting agencies of the same rank usually study and research any potential signee long before they make a proposal. As a result of the partnership, Barros believes that the soccer club can continue to grow and raise through the soccer ranks of the Spanish La Liga, which is one of the most contested soccer championships in the world.
Earlier this week, Betway renewed another partnership with yet another La Liga franchise, the Real Betis. Betway also signed a new agreement with Segunda Division franchise CD Leganes for the 2020/2021 season.
Will Changes in Regulation Challenge Partnerships?
Spain has been edging closer to a more restrictive framework for sports betting in the country. Even though the country’s gambling results in Q1, 2020 grew by 12.5% year-over-year, the government has been gung-ho about the prospect of allowing gambling to be omnipresent in the public eye. When the COVID-19 lockdown began, the government restricted advertisements in order to protect vulnerable members of society inclined to gamble too much.
The measure was then picked up and embedded into broader changes to gambling advertisement submitted to the European Union (EU), prompting criticism from local industry experts who cautioned against overburdening the industry with restrictions lest consumers start migrating offshore. The most recent move, however, is not entirely surprising, as Spain has been planning on reducing most gambling advertisement by 80% for a long time now.
In a sense, Betway is well-aware of these pending changes, and the company must know that the government wouldn’t back down and most likely seek to restrict gambling advertisement as per the outlined plans. One pet peeve for most companies in the country has been the fact that the original anti-crisis measures introduced during the first COVID-19 lockdown are now about to become a part of the permanent framework for regulating gambling advertisement in the country.
Meanwhile, the National Commission to Combat the Manipulation of Sports Competitions and Betting Fraud has vowed to eradicate corruption in sports in Spain through a series of measures that will be implemented by the end of 2021.