Betfair, Australia’s only licensed betting exchange, has announced a landmark on-course New South Wales (NSW) sponsorship deal with Richmond Greyhound Racing club, that will see them offered opportunities for on-course signage and marketing opportunities.
The move marks the beginning of what could be a free for all as other licensed corporate bookmakers such as Sportsbet, Iasbet, Centrebet, Sportingbet or Luxbet might seek to build upon their already strong brands and take the opportunity for greater exposure and visibility.
The deal marks the end of 10 years of on-course TAB sponsorship dominance that has prevented other licensed Australian wagering operators from marketing their services on race courses of any kind in NSW.
Significantly, it means cash-strapped NSW greyhound clubs can now sell sponsorship assets and inventory to competing wagering companies like Betfair, who are keen invest back into the greyhound racing industry and gain exposure in the NSW market.
Under the terms of the agreement the Richmond Greyhound Club have granted Betfair sponsorship opportunities including but not limited to: on-course signage, race naming rights and promotional opportunities.
Since being licensed in 2006, Betfair has been an avid sponsor of all three race codes but until now has been prohibited from partnering with NSW clubs because of an exclusive on-course marketing clause in the Racing Distribution Agreement.
Betfair and greyhounds’ peak body, GRNSW, already enjoy a successful off-course partnership that includes sponsorship of the Blue Paws owner bonus incentive scheme and the Greyhound of the Year awards.
Richmond Race Club President, Mark Malone said; "Until now advertising restrictions have prevented us from seeking sponsorship agreements such as these, but it's always been our intention to seek corporate sponsors such as Betfair.
"This announcement is indicative of a general shift in attitude towards Betfair in other states and they will now rank among our top ten club sponsors. The initial skepticism which accompanied Betfair's arrival in Australia has now been replaced with a level of acceptance and we believe the company has a valid place in the industry and role to play in the future of our racing."
Betfair Australia’s CEO, Andrew Twaits said the deal marked an important first step towards a greater presence in NSW.
“We’re delighted to partner with a progressive race club such as Richmond and we will continue to investigate sponsorship opportunities in NSW at city, provincial and country race club level. We hope the signing of this deal in NSW leads to further opportunities.”