In Australia, the Melbourne Racing Club has announced a three-year sponsorship agreement with Betfair that will see the online betting exchange receive the naming rights for its Sandown Racecourse.
As part of the deal, Sandown will be known as Betfair Park and the UK-based firm will also receive on-course signage presence along with race sponsorship involvement at the course and the Club’s other racing venue at Caulfield Racecourse. The sponsorship venture will also allow for promotional activity surrounding the Club’s race days at major carnivals during the Spring and the Summer/Autumn periods.
Betfair’s agreement with the Melbourne Racing Club commenced on Saturday with sponsorship of the Group Two $351,000 Betfair Sandown Guineas for three-year-olds and marks the first time any Victorian racecourse has carried a sponsors name.
“In establishing this new relationship with Betfair, we fully acknowledge and respect both Tabcorp and the current wagering model,” said Warren Brown, Chief Executive Officer for Melbourne Racing Club.
“The TAB since its privatisation has been the financial backbone of the Victorian racing industry and will so remain. But, this sponsorship arrangement recognises the additional revenue opportunities for racing by embracing technology and innovation.
“This announcement is indicative of the advertising opportunities now available since the recent relaxation by government of legislation relating to all interstate wagering operators including TAB’s and bookmakers advertising in Victoria. It is also indicative of a general shift of attitude in this state, which has seen the initial scepticism and concern that accompanied Betfair’s arrival in Australia being replaced with a level of acceptance that the company has a valid place and role to play in the future of our racing.”
“We're delighted to be entering into the arrangement with the Melbourne Racing Club at such a significant level and we welcome the opportunity to work alongside one of the country's leading race clubs,” said Andrew Twaits, Chief Executive Officer for Betfair.