TIMES may be tough but a fresh wave of gambling money is poised to break over AFL clubs, with Hawthorn and the Western Bulldogs shaping as possible winners.

Changes to Victorian law mean that from next season betting agencies will be allowed to sponsor sporting clubs and events. Two of the largest agencies are already lining up lucrative sponsorship offers for the Hawks and Bulldogs. But the Bulldogs' potential multimillion-dollar sponsorship — with Sydney-based Centrebet — could be undone by an AFL commercial agreement with a rival company.

Centrebet spokesman Neil Evans said yesterday the company was preparing to offer the Bulldogs a three-year deal to become the club's chief sponsor. The Bulldogs are yet to be approached but are currently without a major backer. Evans said his company wanted to sponsor an AFL team in 2009 and wanted it to be the Bulldogs.

"They are up there, have a pretty good squad and are an underdog team," he said. "They are a likeable club, a bit devoid of the hoo-ha you get at other clubs. They are the team we will look at and we hopefully would do a three-year deal."

Evans said Centrebet, which already sponsors A-League club the Newcastle Jets and NRL team Cronulla, was big enough to be the club's major backer. "We are definitely capable (of being a major sponsor)," he said. "We will take things on face value of what they are worth."

Bulldogs chief executive Campbell Rose said last night that the club was interested. "We are happy to talk to Centrebet or to any lawfully operating company that aligns with our brand and has something to offer to our football club," he said.

But any deal could be derailed by the AFL's commercial partnership with rival betting agencies Betfair and Tabcorp. Under the terms of those agreements, competitors are not permitted to sponsor clubs. AFL spokesman Brian Walsh confirmed last night that the deal would be blocked by current rules. "We would have to review our wagering position for that situation to change," he said.

The issue has not arisen previously because betting agencies were blocked from sponsoring clubs under Victorian law. But recent law changes — after fierce lobbying from betting agencies — have created strong interest from the gambling industry in sponsoring football, horse racing and other elite sports.

Rose said that if the company had a compelling offer to present and if the terms offered were favoured by the club's board then it would be extremely disappointing if AFL rules prevented the sponsorship going ahead.

The law change is also good news for high-flying Hawthorn, which is being wooed by Betfair in a deal that would be permitted under current AFL agreements. The Tasmania-based agency already sponsors Hawthorn's Launceston games, a deal believed to be worth hundreds of thousands of dollars. Spokesman Hugh Taggart said Betfair was keen to expand its sponsorship of the Hawks to the mainland, a deal that he said would double the company's current commitment.

Hawthorn is already in early talks with Betfair about signing an expanded agreement. Taggart said the agency was interested in signage rights at all Hawthorn home games and wanted the right to hand out promotional material inside the stadium.