Asian online gaming platform Bet Daily has signed as an official sponsor of the Caribbean Premier League (CPL) for the latest edition of the Twenty20 cricket series.
Under the deal, the two organisations will create original content for sports fans and present various competitions with opportunities to win cash.
Bet Daily said the association would help the brand put forward its core message to cricket fans in the Caribbean, as well as an international audience drawn in by the international players on show.
Earlier this month, the CPL also added gambling platform Fun88 to its sponsorship portfolio in the Official Partner tier.
Industry sources indicate a betting category contract in the official partner tier will typically be valued at between $250,000-$500,000 per year.
As part of the agreement, Fun88 and CPL will also collaborate on the creation of tailored CPL content, as well as offering supporters the chance to participate in competitions and giveaways.
The CPL also has a sponsor in the fantasy gaming sector, India-based fantasy sports platform Dream11, valued at around $100,000 per season.
Omar Khan, former chief executive officer of CPL franchise Trinbago Knight Riders (formerly Trinidad & Tobago Red Steel), told SportBusiness: “It appears the CPL are taking a similar route to some English Premier Leagure clubs in controlling inventory by segmenting categories to drive greater overall value from their sponsorship portfolio.”
Khan also offered insight on how the CPL has developed the value it can offer Asia-focused brands in connecting with target markets with a vast cricket audience such as India, despite the fact the time difference means CPL games are often broadcast in the early hours of the morning in the country.
He said: “They use social media really effectively through strong relationships with Facebook and Twitter to connect with Indian cricket fans and drive significant value for partners in Indian markets.
“In a wider sense, brands are also integrated effectively into broadcasts through multiple activation, with commentators often buying into this to support their promotion.”
This year’s CPL 2020 will be played behind closed doors because of the coronavirus pandemic in Trinidad and Tobago, starting from August 18, with 33 matches to be played at two venues in the country.
The month-long tournament features six teams; the Guyana Amazon Warriors, Jamaica Tallawahs, Barbados Tridents, St Kitts & Nevis Patriots, St Lucia Zouks and Trinbago Knight Riders.
Additional reporting by Matthew Williams