Sport Club Corinthians Paulista finally has a new sponsor: the sports betting company Galera Group, owner of the Galera.Bet website, which will soon offer in Brazil an innovative betting platform in the Fixed Quota mode*, allowing its fans over 18 to bet on sports such as football, tennis, baseball, basketball, boxing, MMA, eSports among others.
With a sponsorship contract (which the brand displayed on the sleeve of male professional team’s uniform) and brand licensing on the exclusive gaming platform, the partnership will guarantee Corinthians, in the form of royalties proportional to the engagement, a minimum of R$ 40 million (US$7.5m) over a five-year period.
The name and logo of the platform sponsor will be chosen by the Corinthians fans through an interactive vote on the website http://vote.corinthians.com.br. “The crowd is very important for the club. Therefore, we want to offer more and more options for fun and engagement. We will call on our nation to participate in deciding the name of the platform. We want to democratize this moment with our fans,” says Andrés Sanchez, president of Corinthians.
According to Chanoch Ben-Simchon, vice president of Sports Operations at Galera Group, the company will host and manage the entire Corinthians betting platform in remotely way outside of Brazil, as the group has offices in Israel and Cyprus.
“We are very happy with the agreement for this business partnership. As a club, Corinthians will be one of the pioneers in this sports betting market, an area that has great growth potential in Brazil,” comments Ben-Simchon.
In addition to more investments in football, the partnership allows Corinthians to offer more entertainment to fans in the future, whether they are in the stadium or in the comfort of their own home. It is a relationship that also benefits the club, as it generates royalties. The launch of the digital platform is scheduled for August.
In parallel to sports betting, Galera Group will also have news through its Brazilian subsidiary, Galera Gaming. Technology and marketing startup focused on data and entertainment related to the sports market, Galera Gaming has already started to develop applications in Brazil that use artificial intelligence and machine learning to calculate probabilities and statistics related to sports, in addition to social games and other Live Score services. As the sector still awaits federal regulation, none of the products and services that Galera Gaming will operate in Brazil will involve money.
“It is essential to have a local branch that understands the Brazilian market. This is a crucial factor for us to be successful in our operation,” says Israeli Ben-Simchon, who has worked at specialist groups Intralot, Winner.com and bwin. The Galera Group operation brings together executives and market professionals with experience in corporations such as British bookmaker William Hill, in addition to PlayTech, Caliente and Intercasino.
About sports betting
The sports betting market is an extremely strategic sector in the world football sponsorship scene. Waiting only for regulation in Brazil, the activity has already been included in the Federal Government's Investment Partnership Program and included in the National Privatization Plan (PND), according to the Federal Official Gazette of the 19th.
It is estimated that, in Brazil, this market currently generates revenues of around R$ 2.2 billion (US$410m) in sports betting, with studies that point to a growth potential of 500% after the final regulation.
* Sports betting modality in which it is known, from the beginning, how much the bettor can win, authorized by Federal Law 13.756, of December 12, 2018.