The gambling sponsorship and advertising services have been undergoing a shakeup in the past few months. Recently, after the review conducted by the government, the reports show that each sponsorship from betting companies is worth over 70 million euros annually. Almost all the clubs in the premier league have a betting company sponsoring them.
Over half of the premier league clubs are dependent on gambling sponsorship to keep participating in the campaign. Gambling sponsorship in sport has gone a long way from soccer, basketball, and almost all the trending sports events. It wasn’t long before the premier league restarted after the ongoing outbreak of Covid-19 affected sports events. The hit from the pandemic has caused the sports industry to change some rules and regulations, which might affect them financially.
Betting Sponsorship on Shirts to be Banned in 2023
In the Premier League, newly promoted clubs like Leeds, Aston Villa, and Fulham have premier league shirt sponsors 2021 from reputable betting companies. However, it was made popular by the committee of gambling to ban shirt sponsorships on PL teams in 2023. As well as prohibiting gambling advertisements in sports venues or competition grounds.
Even as at that, gambling advertisements can be displayed on televisions during match lineups and competition. Both the gambling industry and the sports league support each other equivalently. Just as the gambling industry generates revenue from sports fans gambling through their website, the sports league receives funds for management.
So, the committee stopping the premier league shirts sponsorships will hugely affect the premier league clubs as well as other Portuguese betting companies in losing their revenues. The betting company sponsors premier league clubs like Betway who sponsors West Ham United with an amount worth 10 million euros yearly. Therefore, with the restriction of sponsors set to happen in 2023 creating a premier league with no sponsor, it’s like that premier league clubs will have to look for other sponsorship opportunities.
What the Future Holds for Gambling Sponsorship in Premier League
Premier league sponsors in the future are on the verge of abiding by a new regulation of the cross-party committee. The report of phasing out the gambling sponsorship in 2023 was concluded after evaluating the amount of harm the gaming industry has caused based on the gambling act of 2005. This means that Portuguese sites like casino Portugal online and other casinos will lose the right to shirt sponsorship.
After a thorough review by the committee, it was clearly differentiated that sporting betting with football has been leading fans to addiction. And it’s hard to say that most people who visit sports venues nowadays are interested in enjoying the game other than betting. Even though the new rule might affect both the betting industry as well as the sports league, the future is yet to happen.
According to Martim Nabeiro here, who’s an expert in guest post topics, the cross-party committee also indicated that the restriction doesn’t affect other professional sports events such as horseracing and others. However, a lot of people have been wondering about what the future holds for gambling sponsorship in the premier league.
And also how will the premier league clubs manage without sponsorship funds in the future? Based on the analysis conducted about the financial support gambling companies provide to premier league clubs. Smaller clubs in the premier league are likely to experience a huge effect of the new regulation in 2023.
With the gambling sponsorship and advertising shakeup happening in the premier league, there will likely be a change in the rules and regulation of sports betting in the future.