The deal will cover the 2021-22 and 2022-23 seasons, with the option to extend by an additional two years.
Betano branding will appear on the front of first team players’ shirts throughout this term.
The operator has been active in the Portuguese market since 2019.
It also has partnerships in place with Portuguese teams SC Braga and CS Marítimo, as well as PAOK and Olympiacos in Greece, Apollon Limassol and Pafos in Cyprus, and Universitatea Craiova and FSCB in Romania.
In January, Betano secured its first commercial deal outside of Europe when it agreed to become the new main sponsor of Brazilian Campeonato Brasileiro Série A football team Clube Atlético Mineiro.
Operated by Kaizen Investment, Betano is also active in Brazil, Germany, Romania, Greece and Cyprus. Sazka-owned OPAP holds a 36.75% stake in the operator.
In November last year, OPAP acquired an additional 15.48% stake in Stoiximan Group’s Greek and Cypriot operations from owner Kaizen, bringing its stake in this part of the business to 84.48%.