1. COVID-19 proving beneficial for many online trading & investment platforms
- As the global economy reels from the effects of the pandemic, one industry which is prospering is the online trading & investment sector.
- Many online trading & investment platforms are reporting a surge in new customers as people increasingly look towards digital as a means of generating money, whilst heightened levels of market volatility are leading to increased levels of customer activity.
2. A growing trend of online trading & investment platform sponsorship
- COVID-19 has fostered the strengthening relationship between online trading & investment platforms and sports properties, providing favourable market conditions for industry growth and leaving gaps in the sport sponsorship market.
- The strengthening relationship between online trading & investment platforms and sport is illustrated by data taken from Sportcal’s Intelligence Centre, which show that 90% of the top 10 deals by value in the sector have been signed from 2019 onwards. Meanwhile, in the wider sector, 74% of deals have been signed from 2019 onwards.
- In 2020, 28 deals between online trading & investment platforms and sports properties have been recorded by Sportcal, at an estimated annual value of $51.96 million.
- Sponsorship investment in the sector is heavily concentrated in soccer, data from Sportcal’s Intelligence Centre showed 73% of the sectors sponsorship spend to be channelled towards the globally popular sport.
3. Online trading & investment platforms here to stay
- COVID-19 has dampened consumers’ concerns regarding lucrative financial commitments to online trading platforms, whilst data shows younger generations are hungry for online trading with research predicting a significant expansion of the online trading market post COVID-19.
- Considering the potential sponsorship hole left by betting brands and the strong parallels in demographics of gamblers and traders, newly enforced regulations regarding betting sponsorships could provide online trading & investment platforms a unique opportunity to capitalise on the market.
1. COVID-19 Global Sport Sponsorship Landscape
The global sports sponsorship market is facing an uncertain time in the wake of the COVID-19 pandemic, with sports sponsorship rights-fees set to fall 38% from $46.1 billion in 2019 to $28.9 billion in 2020  as a result of the disrupted sporting calendar and sports spectators-less resumption, which has made it difficult for rights holders and sponsors to drive value through partnerships. Meanwhile, heavy sponsoring sectors such as airlines and automotives have begun to impose cost-cutting measures in an attempt to make it through the crisis.
Global Sport Sponsorship Spend US$bn (2018-2020, projected)
Source: Two Circles
However, one industry which seems to defy this trend is the online trading & investment platforms sector. Industries rooted in the online space such as this have prospered as a result of the pandemic as consumers are increasingly turning to digital business streams, and sponsorship deals between online trading & investment platforms and sports properties have continued to be struck throughout the pandemic, particularly in European soccer. With the growth of the industry gathering pace, online trading & investment platforms could be set to play a more prominent role in the sponsorship arena as rights holders seek to counteract the lost revenues from sponsors who have been forced to re-evaluate and in some cases cease their commitment to sport. This report analyses the strengthening relationship between online trading platforms and sports properties, in particular European football.
2. Online Trading & Investment Platforms
2.1 Online Trading & Investment platforms Landscape
Until around a decade ago, the investment and trading industry remained very much paper-based, client facing and exclusively catered to the rich and wealthy. Technological advancements have however changed the game. In recent years, online investment and trading platforms have realized they have the technology and capabilities to reach the masses as the global financial marketplace has become increasingly accessible. In turn, millions of consumers around the world are engaging with these products.
However, despite their growing popularity, rising revenues and heightened customer activity, many online investment platforms are yet to become profitable. The underlying reason for this is customers have been hesitant to commit large sums of money to them due to the uncertainty around whether they have the technical capabilities to survive a recession or market downturn, such has been the case with the outbreak of COVID-19.
The outcome of the COVID-19 crisis has however been positive, as many online investment and trading platforms are experiencing a surge in new customers as people increasingly look towards digital as a means of generating money, illustrated in a report by the Share Centre which stated a 269% increase in brokerage account openings in the UK from March 9 to 30 compared to the same period in 2019 . In addition, heightened levels of market volatility are leading to increased levels of customer activity, whilst their growing popularity also forms part of a shift in consumer behaviour towards trusting computer generated algorithms as a means of money management rather than fellow human beings. If these brands can continue to weather the COVID-19 crisis, they could be set for further growth in the post-COVID-19 world.
As businesses grow, they look to methods to reach the masses, and online trading and investment platforms are increasingly resorting to sport sponsorship as a means of boosting brand recognition and expanding their customer base. Sport sponsorship is by no means a new phenomenon for these brands, however online trading and investment platforms, whether it be forex (FX), contracts for difference (CFD) or cryptocurrency exchange, have been increasing their investment into sport and COVID-19 has the the potential to take this even further as the industry expands.
3. Online Trading & Investment Platforms Sponsorship
3.1 Sponsorship Overview
As previously mentioned, sport sponsorship by online trading & investment platforms is by no means a new phenomenon. The timeline below highlights some of the major deals in the sector in the last decade.
3.2 Current Sponsorship Landscape
Active deals: 118
Estimated annual value: $143.08 million
Average deal value: $1.1 million
Brands sponsoring: 85
Analysis by GlobalData’s Sportcal of 118 active sponsorship deals by 85 different online trading & investment platforms totalled an estimated annual value of $143.08 million.
For online trading & investment platforms, the sports arena represents a collective gathering of a demographic that aligns well with that of online brokers, thus enabling them to market their platforms to their target audience, which is predominantly male, located internationally and has shared interests in sports, trading and gambling. Sponsorship allows them to convey a notion of financial strength, boost global credibility and brand awareness through association with globally recognised sporting properties and their portfolio of blue-chip co-sponsors, amplify brand differentiation from their competitors and gain access to their target audience on a mass scale, essentially with the aim of expanding their customer base and extending their global reach.
Soccer the sport of choice for online trading platforms
Within sport, online trading platforms investments are heavily concentrated in soccer. According to data taken from Sportcal’s Intelligence Centre on 30 July 2020, online trading & investment platforms spend $104.26 million on soccer sponsorships, which accounts for 73% of the sectors total sponsorship spend. Research has shown that the average forex trader can be accessed most through the English Premier League, whilst soccer audiences tend to be more competitive and less risk averse than the general population . Figures from FBS’s sponsorship of Spanish soccer giants FC Barcelona illustrate the ROI that soccer sponsorship can bring, where after signing the deal in Jan 2020, FBS reported a 25% user increase in the first quarter of the year . These characteristics have made sponsorship deals between online trading & investment platforms increasingly commonplace and recent activity in the sponsorship arena reaffirms this. Recent deals are detailed later in this report.
Sports such as Formula One and golf are also targeted, demonstrated by FxPro’s sponsorship of the McLaren F1 Team and Charles Schwab’s sponsorship of The Colonial Invitational golf championship. Formula One and golf’s audiences are predominantly male, but have the added appeal of a demographic that tends to be wealthier due to the sports prestige, which is ideal for a brokerage. Speed and technology are also common factors which unite online trading & investment platforms and Formula 1 properties.
3.3 A growing trend of online trading & investment platform sponsorships
Despite the negative financial implications of COVID-19 on the global economy and sponsorship market, online trading & investment platforms have increased their presence in the sponsorship arena, investing in deals with some leading European football properties.
The above graph details the top 10 deals by online trading & investment brands. Highlighted in red are deals signed prior to 2019 and highlighted in green are deals signed from 2019 and onwards. The graph shows that 90% of the top 10 deals in the sector have been signed from 2019 onwards, illustrating the rise in investments into sports sponsorship in recent years. In the wider sector, 74% of deals have been signed from 2019 and onwards. In 2020, 28 deals between online trading & investment platforms and sports properties have be signed, at an estimated annual value of $51.96 million.
On the whole, online trading & investment platforms that engage in high value deals, as detailed above, do not tend to extend their portfolios much further than these deals and instead focus their marketing around their flagship sponsor. For brands such as IC Markets, flatex USG and FBS, these deals mark their first foray into sport sponsorship. Plus500 however take a different approach and are making significant expansions to their sponsorship portfolio, signing a trio of shirt sponsorships ahead of the 2020/21 European soccer season, including a club record-fee for Italian club Atalanta. Plus500 have three deals in the top 10 deals by value in the whole sector.
3.4 Major deals signed in 2020
IC Markets & Inter Milan
- Announced 9 July 2020, Sydney-based IC Markets, who specialise in FX services and ECN trading capabilities, signed a sponsorship deal as Inter Milan’s first ever sleeve sponsor.
- The deal is reportedly worth €10 million ($11.3 million) and will be valid for the 2020/21 season. According to Sportcal’s Intelligence Centre, this is the second most lucrative deal within the sector.
- IC Markets logo will also be visible across the club’s digital channels and inside the San Siro, whilst the brand will also have the opportunity to engage with the club’s supporters and sponsors.
- The deal marks IC Markets first foray into sports sponsorship and exploratory talks have also taken place over potential partnerships in the future.
flatex & Borussia Monchengladbach
- Announced 29 June 2020, flatex, the German online broker, signed as the front-of-shirt sponsor of Bundesliga club Borussia Monchengladbach, replacing Postbank who had the shirt sponsorship for 11 years.
- The deal is reportedly worth €10 million ($11.23 million) per-year and will run from the start of the 2020/21 season to the end of the 2022/23 season, with a one-year extension option.
- flatex is one of Europe’s leading online brokers after its acquisition of Dutch company DeGiro in 2019. Its customer base has grown from 1 million to 2 million across 18 European countries and has its sights set on further European growth. flatex recently recorded record half-year growth rates on its platform, with transactions increasing by 152% on its platform compared to the same period of last year.
- flatex’s logo will be visible on the club’s playing kit in the Bundesliga and domestic cups, whilst DeGiro's brand will be used for the UEFA Champions League.
TradeATF & Argentina FA
- Announced 6 May 2020, TradeATF, the Cyprus-based CFD broker signed a sponsorship deal with the Argentinian FA (AFA) as a digital partner of the AFA’s men’s and women’s national teams.
- The deal runs through to 31 July 2021, including the period in which the rescheduled 2020 Copa America will take place, which Argentina will co-host alongside Colombia, from June 11 to July 11 next year.
- The partnership forms part of the AFA’s strategy to generate greater economic and commercial resources through expansion in Europe.
- The partnership will be called “Together we Rise”, in testament to COVID-19 struggles around the world
Plus500 & BSC Young Boys
- On 3 June 2020, Israeli-based CFD online trading platform Plus500 signed as the front-of-shirt sponsor of leading Swiss soccer club BSC Young Boys.
- The deal runs through the the end of the 2021/22 season, with a one-year extension option. During the coronavirus pandemic heightened levels of market volatility has seen Plus500 achieve record levels of customer activity.
- With its customer base surging Plus500 were keen push its brand out to the masses further.
- The deal builds on the brands presence in the sports sponsorship market, where it is currently the main sponsor of La Liga side Atletico Madrid and Australian rugby team Brumbies.
Scope Markets & West Ham
- On 19 June 2020, Scope Markets, the Belize-based online trading platform, signed as the new sleeve sponsor of English Premier League side West Ham United.
- Scope Markets took over from Basset & Gold, who at the beginning of April entered administration, effectively cutting short the partnership.
- The multi-year agreement is reportedly worth between £1 million ($1.24 million) and £1.5 million ($1.86 million). Scope Markets have been a partner of West Ham since 2018 and signed another extension in 2019.
- The current expansion demonstrates the brands increased commitment to West Ham and suggests high value has been driven from the partnership.
FBS & FC Barcelona
- On 16 Jan 2020, FBS, the Belize-based online broker specialising in FX trading, signed a 4-year sponsorship deal with FC Barcelona, as the club’s Official Trading Partner, in a deal that runs through to 30 June 2024.
- Having been awarded a new European license, FBS were seeking a high-profile platform to position themselves in the mainstream as a leading FX company, and differentiate itself from smaller, less well-financed rivals.
- Through the partnership, FC Barcelona and FBS collaborate on joint programmes to offer online and offline experiences to fans including the creation of branded content, whilst FBS also receive visibility via digital channels and through perimeter LED signage on matchdays.
- Aligning itself with FC Barcelona, their international superstars and portfolio of blue-chip sponsors has helped support FBS’s global brand awareness and drive growth in key global and emerging markets. After signing the deal in January, FBS announced a 25% user increase in Q1 of 2020 and the partnership has helped enhance FBS’s CSR initiatives.
ROInvesting & AC Milan
- On 31 March 2020, Cyprus-based online trading platform ROInvesting signed a multi-year partnership with AC Milan, becoming the Italian soccer clubs Official CFD Partner.
- The agreement is known to extend to at least June 30 2021. Sportcal estimate the sponsorship to be worth around $1.5 million per year.
- ROInvesting and AC Milan will launch a number of global digital campaigns during the partnership.
- In addition, the deal gives ROInvesting access to a range of branding rights, such as the use of AC Milan branding on the CFD brokers website.
Plus500 & Legia Warsaw
- On 10 August 2020, Plus500 was announced as the new shirt sponsor of Legia Warsaw, champions of the top division of Polish football, in a bid to develop Plus500’s market position in Poland and wider Europe.
- The deal runs through to the end of the 2021/22 season, with an option to extend for the 2022/23 season.
- David Zruia, Chief Executive of Plus500 said, “Our partnership with Legia is expected to further strengthen our ability to increase our international brand recognition and grow our global customer base, as well as driving brand awareness in Poland, an important market with great potential.”
- It builds even further on Plus500’s presence in sport, who recently signed as the new shirt sponsor of Swiss soccer club BSC Young Boys and already sponsor Atletico Madrid and Australian rugby team Brumbies.
FxPro & McLaren F1
- In late 2019, online forex broker FxPro signed a multi-year extension to its sponsorship agreement with the McLaren Racing Formula 1 team.
- The deal came into effect at the start of the 2020 Formula 1 season.
- As part of the agreement FxPro branding features on the front wing of the MCL35 and on the cockpit surrounding.
- FxPro first partnered with McLaren Racing during the 2018 Formula 1 season. It reaffirms FxPro’s commitment to the sports marketing tool and suggests high value has been driven from the partnership.
Plus500 & Atalanta B.C.
- On 19 August 2020, Plus500 paid a club-record fee to secure the shirt sponsorship of Serie A club and 19/20 UEFA Champions League quarter finalists Atalanta B.C.
- The three-year deal, starting from 1 September 2020 runs through to the end of the 2022/23 season.
- Plus500 are reportedly paying a significant increase on the previous shirt sponsor, the Radici Group, making it a club-record fee.
- David Zruia, chief executive of Plus500, said of the new deal: “This partnership, alongside our existing sponsorship agreements, adds to the fantastic strength of our sponsorship programmes globally. It also strengthens our presence in Italy, an important market with good growth potential, and supports the international brand recognition of Plus500 and our ability to increase customer base globally.”
- It is the third soccer shirt sponsorship Plus500 have secured this summer and makes Plus500 one of the only brands to be the shirt sponsor of more than one club competing in the UEFA Champions League.
3.5 What has sparked this recent spike in investment?
COVID-19 accelerating the shift to online businesses
COVID-19 has accelerated the shift to digital business streams and a host of online trading platforms have come out of the pandemic stronger than ever as customer activity and transactions have skyrocketed. In alignment with elevated business activity and intensifying competition, online trading platforms are increasingly looking to sponsorship deals to differentiate from their competitors, increase brand recognition and expand their global customer base. Take for example Plus500, who have achieved record levels of customer activity during the pandemic, adding 82,951 new customers in the first quarter and a further 100,574 in Q2 . Plus500 then went on to build on its presence in the sponsorship market and sign as the new shirt sponsor of Swiss soccer club BSC Young Boys in a deal that runs through until the end of the 2020/21 campaign.
Gaps in the sponsorship market
Whilst heavy sponsoring industries such as airlines, automotive and travel & tourism suffer, inevitably, gaps in the market have arisen. As some industries suffer, there is less competition for sponsoring sports properties and as such, deals can be signed at extremely competitive prices. At a time where the online trading & investment industry is experiencing growth, there are opportunities to capitalise on the market, either expanding on existing sponsorship portfolios or entering the sponsorship arena for the first time. Take for example the sleeve sponsorship of English Premier League side West Ham United; London-based investment company Basset & Gold, who were the previous sleeve sponsor of West Ham, went into administration in early April. West Ham were therefore on the hunt for a new sponsor before the restart of the Premier League, which has been scooped up by online trading platform Scope Markets on a multi-year deal reportedly worth between £1million ($1.24 million) and £1.5 million ($1.86 million).
3.6 A sustainable trend?
Online trading & investment platforms are still yet to become a major player in the sponsorship landscape, and questions have been asked as to whether their spike in sport sponsorship investments will be sustained. As previously mentioned, what has limited the growth of these brands is consumers’ hesitancy regarding trust of funds during a market downturn and whether these brands had the technological capabilities to survive a crisis.
So far, COVID-19 has been a blessing for brands within this space as many of them have experienced a surge in business activity and have been resilient in the face of the global health and economic crisis. As such, consumers are increasingly trusting with these platforms and this period could prove a pivotal moment for the industry in that it fosters that next phase of growth. A research report by Orbis Research has also predicted the global forex trading platform market to witness significant expansion post COVID-19 by 2025 . As the industry becomes increasingly saturated and competition rises, it amplifies the need for brands to differentiate from competitors and sport sponsorship can be integral to this.
Here to stay
Data also shows that the next generation are hungry for online trading. GlobalData’s Investor Insights: Channel Selection Analytics tool shows that the youngest age band (18-34yr olds) are most driven to use an online investment & trading platform and this has been increasing in recent years. The current market turmoil has also led to younger investors to increasingly look for buying opportunities in a bid to grow their savings. As the popularity of online trading & investment platforms is set to grow further, Sportcal expects their foray into the sport sponsorship market to continue.
3.7 Gambling advertisement regulations offer an opportunity for online trading and investment platforms
One feature of online trading & investment platform sponsorships is the similarities in target demographics that resonates with betting sponsors, which is predominantly male, located internationally and has shared interests in sports, trading and gambling. However, what is different is that online trading & investment platforms do not have the negative connotations associated with them that betting sponsors do.
Due to the moral concerns regarding betting sponsorships, discussions regarding stricter laws on gambling advertisements have been gathering pace in leading European sporting nations. The Spanish Ministry of Consumer Affairs have been considering proposals to tighten regulations regarding betting sponsors, including a blanket ban on betting shirt sponsorships in La Liga, following in the footsteps of Serie A and Serie B in 2018, which was reportedly set to be enforced for the start of the 2020/21 season but has been delayed due to an appeal. In the UK, whilst COVID-19 may have put a delay on the Department for Digital, Culture, Media and Sport (DCMS)’s reviewal of gambling advertisement laws, the likelihood is that some form of regulations around gambling advertisements will be enforced in the English Premier League in the near future, with a blanket ban on shirt sponsorship a possibility, according to The Times.
What this would leaves is a vast gap in the sponsorship market. In La Liga, 8 clubs had betting sponsors in the 2019/20 seasons, which represented €80 million ($90.4 million) to rights holders in the division . In the 2019/20 Premier League season season betting sponsors made up 50% of the league’s shirt sponsors and shelled out £69.6 million ($89 million) on club partnerships throughout the division. Considering the potential sponsorship hole left by betting brands and the strong parallels in the demographics of gamblers and traders, newly enforced regulations regarding betting sponsorships could provide online trading & investment platforms a unique opportunity to capitalise on the market and take advantage of the extremely competitive prices given the financial fragility of many clubs post COVID-19.
3.8 The fragility of online trading platforms still evident
An element of online trading & investment platforms which has restricted their presence in the sponsorship market is the history of brands within the space running into financial troubles during sponsorship agreements. For example, Alpari FX, who were shirt sponsor of West Ham United, entered insolvency after the Swiss franc shock in 2015, leading to their branding being removed from West Ham shirts midway through the 2015/16 season.
More recently, English Premier League side Sheffield United’s Australia-based shirt sponsor Union Standard International Group (USG), an FX and CFD broker, entered voluntary administration due to an investigation into the Australian arm of its business by the Australian Securities and Investments Commission (ASIC). Sheffield secured USG as principle partner and main jersey sponsor in June 2019 in a three-year deal that started with the 2019-20 season, which was touted at the time as the largest-ever commercial transaction in the club’s history, reportedly valued at around £3.5 million ($4.46 million).
The administration of USG demonstrates that the fragility of online trading & investment platforms is still evident. However, it is important to understand the reasoning for entering administration, which is due to the company and its representatives on the Australian side of USG acting unconscionably towards customers, rather than a market downturn. It is unlikely that the actions of the Australian authorities is likely to impact USG’s UK business, with the brand remaining as the front of shirt sponsor for the 2020/21 season. It does still provide an example of a trading platform willing to spend big on sponsorship after a period of growth; prior to signing the deal, USG had been crowned Best APAC Region Broker - 2019 by ADVFN International Financial Awards and Best Execution Broker - 2019 Australia by The European Global Business Awards.
4. Brand Analysis
Online trading platform looks to capitalise on market volatility
Plus500 is an Israeli-based online trading platform, formed in 2008. Speaking about the brands sponsorship strategy David Zruia, Chief Executive Officer of Plus500 commented: “Sponsorship agreements with top teams across the world are a core component of our strategy to increase international brand recognition and expand our global customer base.” According to Sportcal’s Intelligence Centre, Plus500 are the biggest spender within the online trading & investments sector.
Plus500 first entered the sponsorship market in January 2014, signing a partnership agreement with Spanish soccer team Atletico Madrid under which its logo appeared on the back of Atletico’s shirts for the second-half of the 2014-15 La Liga season. At the end of the 2014-15 season, Plus500 signed a two-year extension to the deal, becoming the front-of-shirt sponsor in a deal reported to be worth €11 million ($12.33 million) per-year. Plus500 still remain as Atletico’s shirt sponsor, and the most recent deal signed in 2018 is reportedly worth $19.74 million per-year, which has also expanded the brand’s commercial rights to Atletico’s training kit and across the team’s new Wanda Metropolitano stadium in Madrid through to the end of the 2020-21 season. In addition to Atletico Madrid, Plus 500 have served as naming rights partner and shirt sponsor of Australian Rugby Union club Brumbies since 2017.
¹ Estimated values Source: Sportcal
Plus500 sign trio of soccer shirt sponsorships off the back of surging customer base, including a club-record fee for the main shirt rights at high-flying Italian club Atalanta B.C.
During the coronavirus pandemic, heightened levels of market volatility has helped drive a blockbuster H1 performance for Plus500, who recently reported a record 281% YoY revenue increase and a $320 million profit for the first half of 2020 in light of its surging customer base. Indeed, Sportcal predicted Plus500 would be looking at striking further sports sponsorships in alignment with its impressive performance and have since gone on to secure a trio of soccer shirt sponsorships, including a club-record fee for the main shirt rights at high-flying Italian club Atalanta B.C. as well as the Swiss and Polish champions BSC Young Boys and Legia Warsaw. The recent agreement with Atalanta B.C. makes Plus500 one of the only brands to sponsor more than one club competing in the UEFA Champions League, in a bid to cement the brands position as one of the most recognised online trading platforms globally.
eToro lays claim as the Premier League's most prolific sponsor
eToro is a global social investment platform which allows traders to invest in cryptocurrencies in addition to more traditional commodities and stocks. The brand’s foray into the sponsorship market came after the 2017 ‘crypto bull-run’, which brought Bitcoin into the mainstream. eToro were keen to capitalise on cryptocurrency’s amplified awareness and establish themselves as a market leader in crypto trading, whilst generating further brand recognition for its full range of financial services.
eToro signed sponsorship deals with 7 teams in the English Premier League for the duration of the 2018/19 season, surpassing adidas’ 6 club partnerships to make it the most prolific brand in the league. It was the first Premier League brand partnership to be paid for in Bitcoin, a statement which helped raise eToro’s brand recognition, whilst the multi-club approach provided eToro with a high-density marketing platform including branding in 35% of Premier League games and exposure of its services to 3.2 billion Premier League fans in over 200 markets globally . In the 2019/20 season, eToro retained its status as the leagues most prolific sponsor, adding Everton and Aston Villa to its sponsorship portfolio whilst opting against renewals with Newcastle, Brighton and relegated Cardiff City. eToro believes cryptocurrency’s relationship with football can go further, with the potential to have an impact on ticket touting, counterfeit merchandising and improving the transparency of the transfer market, Sportcal thus expects the brands presence in the sport to continue.
In addition to eToro’s presence in the English Premier League, the brand has signed sponsorship deals with Bundesliga side Eintracht Frankfurt, Danish club FC Midtjylland and the UFC in Australia and New Zealand. As per Sportcal’s Intelligence Centre, eToro is the leading brand by deal volume within the sector. On expanding eToro’s sponsorship portfolio further, managing director Iqbal Gandham has said;
”We may add other layers of sport and also other regions. So we’ll probably look at Europe and Asia in terms of sports sponsorship. Our main objective is to add multiple verticals to our business .”
As the appetite for Bitcoin and crypto becomes increasingly mainstream, Sportcal expect eToro to further its presence in the sponsorship market.
GlobalData Banking & Payments Intelligence Centre
Sportcal Sponsorship Intelligence Centre