Under the three-year agreement, Betano will become the team’s first sleeve sponsor, with its brand to feature on the sleeves of players’ shirts.
Betano, which will assume the role of the team’s official betting sponsor, will also work with Benfica on a series of features and activations to run across the club’s official platforms.
“We are excited to start working with this great club, together with whom we aim to undertake common social initiatives,” said George Daskalakis, chief executive of Betano’s parent company Kaizen Gaming.
“This clearly highlights our strong commitment to the Portuguese market, an involvement we are determined to continue to demonstrate through our sustained support for sport and Portuguese society.”
Benfica chief executive Domingos Soares de Oliveira added: “This is a partnership with a new dimension for the club, and with a brand that is well implemented in sports and entertainment. Betano stands out for its innovation, especially in the digital area, and that is something with which we identify.”
The deal comes after Betano in June secured an agreement to become the new premium sponsor of Portuguese Primeira Liga football club Sporting Lisbon.
During the 2021-22 and 2022-23 seasons, Betano branding will appear on the front of first team players’ shirts.
In January, Betano secured its first commercial deal outside of Europe when it agreed to become the new main sponsor of Brazilian Campeonato Brasileiro Série A football team Clube Atlético Mineiro.