eToro Launches New Sports Deal with RAcing League

Last week, eToro- the world’s leading social investment platform- announced its new partnership with Racing League. The move will see the broker-exchange become an official partner for a team competing in the Racing League 2021.

According to the announcement on Racing League, Yorkshire trainers Tim Easterby and Richard Fahey will make up the eToro racing team. William Easterby will be the team’s manager while Paddy Mathers, David Allan and Paul Hanagan will serve as eToro Racing’s jockeys. The team will be one of two competing from Yorkshire and will be in distinctive green colors.

While speaking on the new partnership, Oli Harris, the CMO at Racing League, had this to say: “eToro are the leading brand in their space and we are very lucky to have them as a team partner. They will offer our audience the chance to learn about trading, whether stocks or crypto, via bespoke webinars and educational content. It really is a great partnership with a brand that has a growing presence in sport worldwide.”

Sports Sponsorship Deals

The latest move by eToro only adds to the company’s portfolio for sports sponsorships. The global social trading platform has, in the past, closed several sports sponsorship deals. For the broker, the sports partnerships provide an easier way to tap into the community behind the sports and offer free services and educational content to lure the fans into retail investment.

While commenting on the new sports partnership, Dylan Holman, the global sponsorship senior manager at eToro said, “We are delighted to add eToro Racing to our global sponsorship programme. As a leading investment platform with over 20m registered users worldwide, we believe sponsorships are a powerful tool for delivering financial education and opening up the global markets to everyone. We are excited to be partnering with Racing League and see this as an opportunity to reach a new community and get more people interested in investing.”

Early this month, the broker signed a three-year sponsorship deal with Rugby Australia following the influx of Aussie retail investors into the financial markets. In September of last year, the broker-exchange made a massive addition to its sports portfolio by launching 12 new deals. Today, eToro sponsors six football clubs in Germany, and six others in the United Kingdom. Some notable names include Crystal Palace, Everton, South Hampton, and West Bromwich Albion.

eToro’s Expansion Plans

The social trading company has been on a roll lately and the move to add eToro Racing to its portfolio is only the latest at expanding its global footprint. Just recently, the company added four new coins- Aave, Compound, Yearn, and Decentraland- to its marketplace. The platform also listed DOGE early in the month, following its unexpected surge to the top.

Today, the multi-asset investment platform boasts of 17 million global users. Traders on the platform can buy and sell a variety of assets including cryptocurrencies, indices, stocks, currencies and commodities. However, eToro is better known for its social trading features that make it easy for traders to earn while learning.

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Source: https://www.financebrokerage.com/etoro-launches-new-sports-deal-with-racing-league/