Pacheco showed signs of promise at Anfield, but never made the grade.
Pacheco has been offered a three-year deal according to the report, having previously been linked with Espanyol and Almeria.
Pacheco was brought to Anfield under Rafa Benitez and seemed a talented forward who could read the game well, pick out a good pass and had some good movement, as well as being versatile enough to drop into the midfield area at times.
But he never really broke through at Anfield, despite making first team appearances under Benitez, Roy Hodgson and Brendan Rodgers - but he has also had several loan spells during that time, including at Norwich City under Paul Lambert prior to their promotion to the Premier League in 2011. His latest spell away from Anfield was at Huesca in the Spanish second division last season.
A lot of fans when watching Pacheco saw him as a promising player but found it difficult to see him establishing himself within the starting XI, but it seems that very few other sides have seen enough of him to see if they can find a role for him within their side.
He left on a free transfer to move to AD Alcorcon whilst still on loan at Huesca.
At the age of 23, Pacheco still has an awful long time before he reaches his best years, but he does need a stable club to settle at. Whereas in recent years plenty of sides have looked at him and have yet to feel the need to make their loan moves for him permanent.
If he does settle down at Real Betis, one would hope he could build on the promise he showed during his cameo appearances at Anfield.