Online sports betting platform Betano, owned by Kaizen Gaming, will become the title sponsor of Campeonato Brasileiro Série A (the top division of Brazil’s soccer league system) as part of a three-year deal.
The agreement will see the Confederation of Brazilian Football (CBF) receive around 80 million Brazilian reais ($16 million) per season. It is a significant markup from CBF’s previous deal with beer brewing company Assaí, which last renewed its Serie A sponsorship for about $10 million per season.
Betano already holds the naming rights of two other CBF competitions: Brazilian Serie B and the Copa do Brasil. And until recently, Betano also sponsored the popular club Fluminense. However, the agreement has now come to an end as the Copa Libertadores champions recently partnered with Superbet.
Late last year, Brazil moved to regulate its gambling sector, including sports betting, thereby ending a four-year grey zone. This means that bookmakers will need a Brazilian license to operate domestically under the new regulated landscape.
Serie A is set to kick off on April 13th and will run until December 8th, giving Betano further reach and visibility in South America ahead of its major market launch in Brazil.