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Sevilla partnership enriches Betfair’s sponsorship portfolio

Betfair has been unveiled as the global betting partner of prestigious Spanish side, Sevilla.

As part of the partnership, which was announced at the spectacular Ramón Sánchez-Pizjuán Stadium, Betfair will be the sleeve sponsor of the home, away and third strips as well as the main sponsor of all the side’s training kits.

Dom Crosthwaite, International MD at Betfair, commented: “This is a club that is consistently competitive at the top level and will help us achieve our ambition of growing the Betfair brand internationally. We very much look forward to working with the club to offer the incredible fans unique promotions, content and experiences.”

Gabriel Ramos, VP at Sevilla added: “Undoubtedly Betfair is one of the most prestigious companies in the world, and will be our great partners on our journey. This partnership is created to strengthen our current goals and future ones.”

Ramon Loarte, Marketing Director at Sevilla, also spoke well of the agreement: “This partnership announcement has allowed us to make another step in Sevilla FC´s commercial growth. We are pleased to welcome such a famous brand as Betfair to our Club, not only as our Exclusive Global Betting Partner, but also as our Official Sleeve and Training Kit Partner. We look forward to a long partnership together.”

The Spanish club, who ended Manchester United’s Champions League campaign last season, join the likes of Barcelona, Juventus and Arsenal in Betfair’s strong sponsorship portfolio.
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Problem gambler gets $150,000 refund for unlawful Betfair activity

Betfair failed to ‘reasonably recognise’ the red flags after one of its own customers – identified as Mr M, convinced the company to refund $150,000 which he quickly gambled away from his account.

As reported by ABC News, the betting exchange should have identified “red flag behaviours” that showed the customer had a gambling problem before it agreed to reverse his request to transfer $150,000 out of his Betfair account and into his personal bank account.

Betfair claimed that it could not have reasonably known about Mr M’s problem because there weren’t any “discernible indicators” found in his gambling activity, despite acknowledging that he had previously self-excluded from gambling for six months in 2014.

The Northern Territory Racing Commission heard that Mr M had already lost significant sums of money on 20 February 2018, when he made his initial request to transfer the money. Yet within 23 minutes of this request, he had gambled away the remaining $86,388 that was still in his account.

Four hours later, after topping up his wagering account with $35,000, he was again close to zero after just 47 minutes. In a “desperate mindset”, Mr M then asked Betfair to reverse his earlier withdrawal request so he could top up his wagering account with $150,000.

After initially being told that Betfair “generally can’t cancel” withdrawal requests, Mr M made three more calls to the company and a manager eventually agreed to reverse the withdrawal as a “one-off” – which enabled him to gamble away the £150,000.

It has also emerged that Mr M had tried to reverse a $40,000 withdrawal in January of this year, only to be told he couldn’t do that because of “responsible gambling” reasons.
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Changing global dynamics see Paddy Power Betfair & Stars Group discuss giant merger plans

The Sunday Times has this weekend reported that the governances of Paddy Power Betfair (PP😎 and The Stars Group Inc held mutual talks in late 2018, discussing a ground-breaking merger.

The two enterprises, which are competing to dominate global gambling’s new landscape disrupted by the repeal of US PASPA federal laws, multiple changes in European regulatory frameworks and the UK’s enforced FOBTs £2 wagering limit, are reported to have reviewed a potential £9 billion tie-up.

Both organisations have completed transformative 2018s, in which FTSE100 PPB merged its Betfair US division with its newly acquired FanDuel asset, moving to launch a new US-facing subsidiary.

Meanwhile, expanding its profile within an M&A crazed online gambling scene, Toronto TSX-listed The Stars Group Inc would act as the sector’s biggest spender, acquiring Sky Betting & Gaming (Sky Bet) for $4.7 billion, and the new Australian assets of Crownbet and William Hill AUS for a combined $650 million.

In its report, The Sunday Times states that discussions are no-longer taking place between parties and that any potential multi £ billion tie-up would have come under strict regulatory scrutiny assessing competition impacts.

Whilst both companies have neither confirmed or denied The Sunday Times report, the speculated merger discussions can be viewed as further evidence that 2019 will see a continuation of global gambling’s relentless M&A trend.
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