BETTING KENYA F1 Team Racing Point Drops SportPesa’s Sponsorship 4 years ago Iwo Bulski Post Views: 671 Formula One team Racing Point has ended its title sponsorship with Kenyan bookmaker SportPesa due to ‘home market difficulties,’ according to team leader Otmar Szafnauer of the group. Racing Point had initially signed a multi-year title sponsorship with SportPesa prior to the 2019 F1 season, described as the biggest sponsorship pledge ever by the Kenyan betting company. Nevertheless, the bookmaker unexpectedly terminated the title sponsorship ahead of the new F1 season which begins March 15 with the Melbourne Grand Prix.Szafnauer spoke to Motorsport.com and stated: “They had some difficulties in their home market. They still want to be involved but maybe at a different level, but not as a title sponsor. So we’re still talking to them and they’re friends of the team and hopefully we can also include them as part of our sponsors and partners.” The home market issues mentioned by Szafnauer seem to refer to SportPesa becoming the highest-profile bookmaker to be expelled from the Kenyan market in 2019 after a dispute over unpaid player taxes with the Uhuru Kenyatta government. Sergio Perez, Racing Point RP19 The recent gambling reform in Kenya has also resulted in Betin, another major market participant, allegedly giving up and opting to close and redundant. SportPesa has yet to regain access to markets in its home town. With the tax dispute apparently not coming to an end, it seems that the company’s associated professional sports teams have decided to withdraw from existing agreements. Everton has also recently withdrawn from a multi-year deal with SportPesa, alongside Racing Point. Previously, the club had advertised the betting business on its jerseys, as well as being considered a big sponsor alongside fellow supporter Hull City on the SportPesa website. Replacing SportPesa as the title sponsor for Racing Point will be BWT, an Austrian-based maker of water treatment systems. SportPesa and Racing Point, as mentioned earlier, are in talks over a new partnership. The contract, however, would definitely be less financially lucrative compared to the deal made last year. Source: inkedin.com About Post Author Iwo Bulski Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. See author's posts Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: Everton, F1 Team, SportPesa Continue Reading Previous Ethiopia untapped gambling industryNext What is the Fun of Sports Betting Online? More Stories EXPERTS KENYA Digital wallets as an enabler for financial services in Africa 2 days ago Szarlot BETTING KENYA Betting firms tax remittance hit Ksh 15B in FY2022/23 2 days ago Szarlot EXPERTS KENYA Unlocking the power of mobile trading: A financial revolution in Kenya 3 days ago Samuel BETTING GHANA Why ‘Sewing Machine’ is trending in the world of sports betting 3 days ago Samuel BETTING NIGERIA The growing trend of mobile betting in Nigeria 4 days ago Samuel BETTING NIGERIA Innovations in responsible gambling: Betbonanza’s initiatives for safer betting 4 days ago Samuel BETTING ZAMBIA Amplifying Sports Betting with Music Ambassadors 5 days ago Szarlot BETTING UGANDA Uganda: Man Wins Shs 300,000 in Sports Betting, Dies Mysteriously 5 days ago Szarlot KENYA ONLINE Xprizo partners with African payments provider M-Pesa 5 days ago Samuel EXPERTS KENYA Flutterwave wants to invest $50 million in Kenya 6 days ago Samuel BETTING KENYA Exploring OdiBets: A Game-Changer In Kenyan Sports Betting 6 days ago Samuel EXPERTS HOT NEWS KENYA GamStop and Responsible Gambling in Africa 6 days ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.