Codere Online has marked 10 years as the official betting partner of Real Madrid this year – a relationship that has covered both the club’s men’s and women’s teams since 2016.

To coincide with the anniversary, the company, which is headquartered in Madrid, has launched a new advertising campaign titled “Go for it with Codere”, aimed at highlighting what it described as a shared competitive mindset between the betting operator, the club’s players and the Real Madrid fan base.

The campaign, developed with creative agency Officer & Gentleman, consisted of two video spots. One, titled “Rock, Paper, Scissors,” showed Real Madrid players being approached by fans who challenged them to impromptu games rather than asking for autographs. A second spot, “Aim,” showed players turning a routine training exercise into a competitive challenge.

The ads featured Real Madrid players Dani Ceballos, Ferland Mendy and Fran García.

Carlos Sabanza, Director of Sponsorships at Codere Online, said: “The campaign underlines the strength of the relationship between Real Madrid and Codere, which, over these ten years, has allowed fans to live unforgettable experiences: such as exclusive Meet & Greets with the club; accompanying the players in their sporting events in different countries or participating firsthand in unique events such as the Codere Cup, fulfilling their dream of competing in the Bernabéu Stadium, like their idols, a privilege reserved for a few, thanks to Codere.”

Growth through Real Madrid despite Spanish regulations

The pair have maintained a strong relationship despite Spain’s 2020 ban on gambling companies being front-of-shirt sponsors of football clubs. 

This came in in 2020 and meant that no La Liga clubs were able to use bookmakers as main shirt sponsors. This prompted many operators and their club partners to adjust their relationships, instead focusing on international partnerships rather than domestic ones.

In Codere’s case, the business has still seen success in Spain – boasting a total of 48,000 active users in 2024 – as well as globally, as it achieved profitability and posted full-year corporate revenues of €211m for that period. 

The company has a presence in Spain and Italy, as well as Argentina, Mexico, Panama, Colombia and Uruguay, operating gaming machines, bingo halls and sports betting terminals as well as its online sportsbook and casino platform. 

Codere said the sponsorship relationship now extends to more than 20 regulated markets in Latin America. The partnership has included fan engagement initiatives such as meet-and-greet events, travel experiences linked to international matches and amateur tournaments such as the Codere Cup, which has been staged at the Santiago Bernabéu.

The promotion comes amid more scrutiny on the gambling industry in Spain, with the government recently voicing concerns about how betting firms are using welcome bonuses. 

These were also banned in 2020 as part of the clampdown, but returned in 2024. However, in August 2025, Pablo Bustinduy, the Minister who heads up the Ministry of Social Affairs (MAS), proposed an amendment to ban promotional incentives once again after the number of Spanish bettors grew by over 20% in 2024.