Manchester United FC has signed a sponsorship deal with a sports betting company Yabo Sport. It is the 23rd sponsorship deal the football club has signed.
Following the deal, Yabo sport will now be the official gambling partner of the club. Yabo replaces Mo Play as the official partner.
According to the reports in the media, the deal between Manchester United and Yabo Sport is estimated to be worth £2-3 million per season.
The football club has a fleet of partners including Adidas, Chevrolet, Aon, DHL and more. It has a massive £750 million deal with sportswear giant Adidas. Adidas would make the club’s kit over a 10-year period. Their Jersey is sponsored by Chevrolet and the deal is expected to be worth £500 million.
Amidst concerns about gambling companies sponsoring sporting events, Nine of the 20 teams in this season’s Premier League have partnered with gambling companies for their shirt sponsorship.
Commenting on the gambling sponsorships, Gambling Watch UK’s Jim Orford said: “There is evidence that gambling is becoming ever more normalized, particularly among young people, so that increasingly betting is seen as part and parcel of following and supporting one’s favorite sport or team.”
Gambling addiction has been on the rise in the UK. A recent study found that there has been a four-fold increase in minors suffering from gambling addiction in the UK.