Soccer and sportsbooks have always gone well together for UK-based Betfred.
This week, the company’s US branch announced it signed a multi-year partnership to be the official sports betting sponsor of Virginia’s Loudoun United FC, a team in the United Soccer League Championship.
Betfred USA Sports COO Bryan Bennett said in a statement that the sportsbook looks forward to a “long partnership” with the team.
“Betfred has a long history of successful sponsorships of soccer clubs in the UK, and we couldn’t be more excited to enter into our first partnership in the US with Loudoun United.
The club has built a solid foundation over the last four years, and we look forward to a long partnership to build the Loudoun United fanbase and Betfred Sportsbook in Virginia over the coming years.”
Loudoun FC partnership opens important doors for Betfred
Betfred’s official partnership with Loudon FC gives the sportsbook two big boosts. First, the deal paves the way for Betfred to launch an online sportsbook in Virginia.
Betfred will be the 14th online sportsbook to launch in Virginia, and the company now operates in eight states. Betfred also has plans to launch in Nevada and Ohio, too.
Second, Betfred’s name and branding will be prevalent at Loudon’s home pitch, Segra Field. Additionally, the company’s name will appear on the back of players’ home and away jerseys during the 2023 season.
“Our partnership with Betfred enables us to enhance the fan experience and helps provide additional opportunities to engage with our ever-growing Red-and-White Community,” Loudoun United FC Executive Business Officer Doug Raftery said. “We look forward to working with Betfred to create a great environment on and off the field for seasons to come.”
$7 billion handle and revenue up for grabs in Virginia sports betting
Betfred hopes to get a decent slice of the Virginia sports betting market through its partnership. That market is booming right now.
In October, the state’s sportsbooks took in a record-breaking $528 million in bets. By the end of the year, it’s likely the state’s sportsbooks will generate more than $7 billion in handle.
Betfred will have to fight for that handle, though, and it’s going to need more than just a USL partnership to do it. Virginia is home to all the major players in sports betting, including:
Up for grabs is more than $40 million in monthly revenue, a number that is likely to grow in 2023.