The new five-year partnership will start on 1 June, and is the biggest deal in the Premier League club’s 140-year history.
The Kenyan bookmaker replaces Thai brewery Chang as Everton’s principal sponsor, with its logo to be imprinted on the front of the team’s playing shirts.
Speaking about the deal, Robert Elstone, Evaton chief executive said: “We are pleased to have secured the biggest commercial partnership deal in the club's history with an ambitious and growing, global company. From the outset we have been impressed by SportPesa and the company's plans for the future. Over the coming months and years we will be working closely to realise our ambitions together.
“SportPesa are committed to significant investment not only into Everton through this partnership but also in the city as they open up a new European Headquarters that creates new jobs in Liverpool. The Liverpool office will give SportPesa the chance to engage with supporters through a number of fan activities and we look forward to an exciting partnership together.”
Ivo Bozukov, director of global strategy for SportPesa said: “This is a proud and monumental day in the history of our organization. Everton Football Club is a world-renowned sporting institution and a club of proud tradition and rich history. We are thrilled to have secured an alignment with Everton, a club weaved prominently throughout the tapestry of world football.”