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"The Swiss authorities only allow betting advertising if it is done by certain state-owned companies," the club said on their website (realmadrid). "As a result, and given that Switzerland is not bound by European Union rules, Real Madrid and bwin have decided not to show the brand on the shirts."

Soccer-Real Madrid decide to play without shirt logo - Reuters
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Bwin heavily invests in partnerships with European markets. It has sponsored multiple leagues and sports in the past, contributing to the brand's global expansion. Some of its biggest sponsorships include FC Union Berlin, Borussia Dortmund, Dynamo Dresden, and FC St. Pauli.

Top Leading Gambling Companies Sponsoring Football Clubs
breakingthelines : opinion : top-leading-gambling-companies-sponso...

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