Legal sports betting in Brazil still has a questionable future. But operators have been busy positioning themselves in the unregulated market. Betano is determined to be at the top of the list, and is injecting millions of dollars into a short-term sponsorship deal it hopes will bring big rewards.
As the 2022 Qatar World Cup approaches, Betano is making sure its name is in front of as many Brazilian sports fans as possible. It is going to sponsor a newscast on Globo, the largest broadcaster in the country.
Betano’s name will be regularly seen in Globo’s “Jornal Nacional” (National Journal) news broadcast. The show is reportedly the most-watched program in the country, with Globo reaching 99.5% of Brazil’s viewership, according to the company.
Banking on Qatar
Betano expects its investment to pay off in a huge way. So much so that it is reportedly willing to pay around $8.5 million to sponsor the newscast through the end of the year. The show’s hosts are William Bonner and Renata Vasconcellos, two of the most recognizable faces in Brazilian journalism.
With access to Brazil’s primetime audience, the operator is counting on the deal to bring significant attention from potential sports bettors hungry for World Cup action. The fact that Brazil has yet to introduce regulated online sports betting seems to be only a minor technicality.
Brazil promises to be one of the largest sports betting markets, provided lawmakers are willing to take a step forward. Despite the lack of regulations, sports betting operators have been quick to sign sponsorship deals in anticipation of the expected outcome. Globo has been willing to participate in arrangements, as well.
The widespread interest these deals cause has already led to an investigation by the Ministry of Justice. All 20 soccer clubs in Brazil’s top tier have some kind of relationship with a sports betting company. Authorities are now trying to figure out if they are breaking any laws.
The regulation of sports betting in the country is still in the air. Standing in the way is President Jairo Bolsonaro. He’s bending to the will of the evangelical caucus as the country prepares to hold its national elections.
eSports a Catalyst for Sports Betting in Brazil
Sports betting is popular in Brazil, but eSports is giving it an additional push. The popularity of eSports, according to a recent Game Brasil survey, is rising rapidly. The report found that 63% of gamers follow the competitive eSports scene, according to iGaming Brazil.
As a result, sportsbooks are catering to the segment, putting their names where gamers are. In turn, this is producing more interest in eSports betting, as well as sports betting in general.
This will prove beneficial to operators looking to gain position in the market. The price point for eSports deals is typically lower than in long-established sports, but the benefit can potentially be greater. By nature, eSports is an online activity, allowing online operators to cherry-pick customers.
The study found this trend virtually everywhere across the globe. In that sense, it highlighted that this also results in a greater interest in betting on eSports competitions in all markets. Therefore, bookmakers are dedicating more resources to the coverage of the competitive gaming segment and offering more segment-centric markets to meet the growing demand.
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