Modern-day Business Strategy - Race Sponsorships by Casinos in Ireland
Over the last few decades, professional sports sponsorship has become one of the most successful forms of brand partnerships in the world. In 2017, the Irish sponsorship market shot up by 10% to an estimated €179m. In 2018, investments in sports sponsorship in the country rose by 12% in July alone.
If you are a sports fan in Ireland, it is quite likely that you stay up to date on sponsorship deals involving your team. For a long time, most sponsors came in the form of big companies like Coca Cola, Pepsi, Nike, and Adidas multi-billion, to mention a few.
But that has changed, and it appears that the gambling industry has a tight hold on sports sponsorship nowadays. The trend seems to be for online casinos and gambling companies to sign multi-billion-dollar sponsorship deals every season.
According to a report in The Guardian, half of the Premier League clubs boast sponsorship from gambling companies for the 2019-20 season. And while there is a lot of debate about this big-ticket patronage, there’s no denying it has a huge impact on the sporting industry.
An Age-old Marriage
Ireland boasts some of the most liberal gambling laws in Europe, which started with the Betting Act of 1854 and were updated by the Gaming and Lotteries Act of 1956 and the Betting (Amendment) Act of 2015. In this regulated environment, online gambling has thrived, leaving bookmakers with lots of money to spend. Sporting and gambling have always enjoyed a natural connection, and this has led to success in sponsorship deals. It is an age-old marriage that has continued to blossom to date.
Improving Sports through Casino Sponsorships
While gambling sponsorships for the GAA have been banned, the big-money sports’ fan base on the other side of the pond attracts gambling companies to invest heavily in football, cricket, racing and other sporting disciplines. With the popularity of motocross in the UK, race sponsorships by casinos are also a common feature in the industry. The idea is to fund the sports teams and personalities to improve their performance.
Even the largest clubs in England today opt for gambling sponsorships because it helps improve efficiency. Teams in lower football divisions which can’t rely on gate revenues can now partner with the best betting firms in their cities to access funds and attract better players. Better still, gambling establishments offer kit sponsorship and other perks which boosts these teams.
Boosting Business Visibility
As the sponsored teams progress bookmakers revel in such success. They hope to gain visibility in the crowded gambling industry.
When players turn out in branded kit, the sponsor understands the fans will want to know more about the sponsor. It is quid pro quo and it continues to work perfectly.
It is for this reason that even new kids on the block in the gambling world spend millions to sponsor sporting outfits. The impact is immediate as fans start warming to the sponsors as an appreciation of their support.
Back home, bookmakers have also invested heavily in sponsorship. They want to get a foothold in this ripe market. With the growth of the global TV audience, bookmakers are ready to spend to get their brands in front of their larger audience. These companies also have sports betting options and fans can place bets on their favourite teams on these platforms.
For the sporting world, the partnership between bookmakers and sporting teams is a win-win situation. The teams get a big cheque to fund their activities while the bookmakers enjoy global recognition.