On June 9, 2022, Everton FC signed a multi-year deal with the crypto casino Stake. This is a landmark deal for the football sector, the highest front-of-shirt deal in Everton’s 144-year history.
While the amount being sponsored is unknown at this point, it’s a sign of things to come. For one, it shows us that crypto is slowly but steadily making its presence felt in the world of sports. And given the intrinsic relationship between betting and sports, it probably means that some rather exciting developments are on the way.
This partnership with Everton is just the latest in a string of collaborations in which Stake has involved itself over recent years. Previously, the crypto casino had signed on as UFC’s sole betting partner in Latin America and Asia.
For context, the UFC or Ultimate Fighting Championship is a top-tier mixed martial arts organization that hosts fights between big names in the MMA scene. And given how betting plays a large role in sports, it’s easy to see why Stake has been working on acquiring new partnerships.
It also shows us crypto gambling is on the rise, with more players shifting towards betting with digital currencies. The ease with which funds can be transferred and their pseudonymous nature make cryptocurrencies a useful asset when it comes to sports betting.
And this is why my team and I are looking at how this may affect the outlook for cryptocurrencies in the future.
But before we continue, you should keep the following in mind:
Cryptocurrencies are decentralized and unregulated. This means that the trading and sale of all cryptocurrencies are conducted in a totally free market. So, expect to face market manipulation, extreme price volatility, and potential government intervention.
Because of this, many have compared holding even stable cryptocurrencies such as Bitcoin and Ethereum with gambling. Fortunately, the volatility of cryptos works both ways, meaning that your portfolio of tokens can also appreciate and provide you with a tidy profit.
Sports betting may not be legal where you are. Depending on your home country and location, there is a risk that gambling may be outlawed. So keep that in mind if you intend to start placing bets or gambling. Also, trying to bypass certain blocks can cause you to get in trouble with local authorities.
More importantly, we do not and will never condone illegal gambling of any kind. We believe in betting responsibly and within your limitations at all times.
What Does The Stake-Everton FC Deal Means For The World of Crypto?
- More link-ups between sports and casinos
The Stake-Everton FC deal will probably not be the last as more crypto casinos begin moving into the sports sector. In 2020, the sports betting market was valued at $203 billion, with analysts predicting a further 50% growth by the time 2025 rolls around.
What this shows us is that the industry is growing at a rapid pace, and with its fragmented nature, there is plenty of room for rapid expansion. This is probably why crypto casinos have been aggressively tapping into the sports betting scene. The rise of online betting and the popularity of cryptocurrencies are also solid reasons for this.
Regardless of what happens, we can expect to see further integration of cryptocurrencies and sports of all kinds.
- The legitimization of crypto gambling
Although online casinos were amongst the first players to accept crypto deposits, crypto gambling hasn’t taken off significantly until now. Some of the reasons behind the resistance towards crypto include the high volatility of tokens and lack of trust in cryptocurrencies.
However, all that changed when the COVID pandemic hit and the market for crypto tokens exploded overnight. COVID lockdown restrictions forced punters to take their gambling online as land-based casinos were no longer accessible.
And from here, many discovered the various benefits of using cryptocurrencies for betting. Whether it’s low transfer fees or the near-instantaneous transfer of funds, punters realized that digital assets have a role to play in the gambling world.
- NFT football collectibles
From jerseys to caps and everything else in between, merchandise sales have always been a solid earner for football clubs. And with the availability of NFTs, football clubs now have another revenue stream that they can tap into.
Like baseball cards, hardcore fans will pay top dollar to own the most highly sought-after NFTs. For example, Lionel Messi’s “The Golden One” NFT was valued at a cool $1,128,815 last year. Collectibles such as these will likely become even more popular in the years to come as a new generation of crypto-savvy fans begin appearing.
Closing Thoughts
There is no doubt that cryptocurrencies have a significant role to play in the world of soccer and sports.
And as a new generation of punters and fans start appearing, crypto gambling will find its place in the coming days.
