According to BBC Sport, Neil Warnock is keen on bringing in midfield reinforcements ahead of the new campaign, and now looks to have signed the versatile Spaniard for the 2018/19 season.
Featuring 24 times in La Liga last season, Camarasa, who only joined Betis in 2017 for an estimated £6.3m from Levante, scored once as the club finished sixth in the table, securing qualification for the 2018/19 Europa League in the process.
The former Spain Under-21 international played in a variety of positions in the centre of midfield during last season, and appears to be a shrewd signing should the deal go through, as Warnock prepares Cardiff for their Premier League season opener against Bournemouth this weekend.
Camarasa may not be the only central midfielder set to join Cardiff before the transfer deadline, with the club linked with Bournemouth's Harry Arter, although a deal for Liverpool's Marko Grujic appears off as he wants to stay and fight for his place at Anfield.
Bobby Reid, Greg Cunningham, Josh Murphy and Alex Smithies have all moved to the Cardiff City Stadium this summer, and now look to be joined by Camarasa in what will be Cardiff's second season in the Premier League, having been relegated in 2013/14.