Real Madrid have their own deal with Codere, the most important betting company in Spain. This agreement expires in 2021 and Los Blancos receive around €6M per year for this sponsorship. The deal between the two companies started in 2016 but still continue through the years with success for both parties.
This is not the first agreement with the betting company for Los Blancos. In 2007, Real Madrid signed their first deal with Bwin, opening the Spanish market for one of the most powerful companies in the betting industry. This company was linked with Real Madrid until 2013, in the Galácticos era, and Los Blancos also received around €6M per year.
All the Real Madrid supporters discovered the new betting companies arriving at that time to the Spanish market and they could find out the different bonus codes available to redeem their money with the company. Several years later, the industry is very important for La Liga teams, and most of them have betting partners, key for their economic survival.
For instance, now Bwin is the official sponsor of Valencia CF. Betfred, another new operator in the Spanish market, has signed an agreement with the new promoted team RCD Mallorca and now we can see their brand in the t-shirt. FC Barcelona have also Betfair as an important partner and this year they also signed another agreement with 1xBet as sponsor outside Spain. The Blaugranas have also a wide background partnering with betting companies.
These two industries are very linked and both have to work together to be profitable. Most of the people attending to the stadiums are interested in sports betting, where the punters are also very keen to see any football games. The Spanish gambling market is living a golden era, with all the legal framework completely approved and working, and the companies having success while operating in the market.