To what extent can sport be strengthened with cryptocurrencies

[cardzanohi]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

[Kemarit]

We have seen sports athletes asking for bitcoin or any crypto as payments already. And then we have football clubs being sponsored by crypto sports bookies. And as far as I can remember, LTC was once promoted in UFC, it's logo on the center of Octagon. Stake sponsored Israel Adesanya. F1 strikes a deal with crypto.com.

So I guess we have seen the beginning already and it could trigger more crypto being promoted in any sports, so it will become global.

[cardzanohi]

We have seen sports athletes asking for bitcoin or any crypto as payments already. And then we have football clubs being sponsored by crypto sports bookies. And as far as I can remember, LTC was once promoted in UFC, it's logo on the center of Octagon. Stake sponsored Israel Adesanya. F1 strikes a deal with crypto.com.

So I guess we have seen the beginning already and it could trigger more crypto being promoted in any sports, so it will become global.

Execelente, more and more sports and athletes getting involved in the crypto world, from this perspective we only have to encompass more segments in sports, thanks for the vision and response.

[Peanutswar]

Having a sports gambling regarding with the cryptocurrency is now a wide adaptation because it depends on the needs of their users mostly people now are being active with the sports and also to support their teams as a supporter and a gambler, of course, you will now trying to earn an additional source of income while supporting them by having a wage to your team. Base on my experience even on just small sports some of the platforms already adopted because their players would like to suggest also having different sports will gain more players to them.

[bittraffic]

More sportsbook are also accepting crypto which they are once fiat base only. The number is going to continue increasing I guess. The athletes as well seem to be pretty vocal with their crypto adventure. A UFC fighter like Askren sounds like trading cryptocurrency himself as he speculates the price too.  Hope to see one day these athletes wear shirts with logos of the cryptocurrency they support.

[zanezane]

Sponsorships from existing crypto sports book is a good thing because it helps promote the site, crypto, and support the tournament they are sponsoring in. Advertising is a powerful tool to help with strengthening the sports that crypto has supported plus with crypto getting noticed, a lot of people that will see it and some of them might get curious and check out the crypto.

[Oshosondy]

More sportsbook are also accepting crypto which they are once fiat base only. The number is going to continue increasing I guess.

What I still just noticed is that the fiat-based gambling sites remained to be fiat-based, maybe because cryptocurrencies are not accepted in the countries as legal tender, you can see bet365 and most others are not yet accepting cryptocurrencies, I also noticed all the gambling sites in my country are not yet accepting cryptocurrencies, if they are accepting cryptocurrencies, it would have been a great crypto adoption. But I still noticed that the gambling sites that are accepting cryptocurrencies are increasing, but most of the gambling sites accepting cryptocurrencies are accepting cryptocurrencies from the onset of the gambling site creation, I believe also in what you said, this will gradually be increasing ie crypto used in gambling as payment.

[GreatArkansas]

The very important here is the sport that got a very huge community or a lot of supporters or active community members.
Slowly the blockchain or cryptocurrency is spreading, sports or non-sports. One of the examples here is FTX Exchange acquired an Arena in Miami and now called FTX Arena, then they also able to have a partnership with eSport organization, which another thing sports - eSports will be a huge player in cryptocurrency.
Athletes getting into cryptocurrency is also starting to spread.

[mu_enrico]

Common scenario, the usage of crypto in:
- promotion/funding/sponsorship
- sportsbetting
- NFT collectibles

Wild scenario:
- DAO for sports when you can own a club, vote, etc.

I wanted to give more example about "wild scenario" but I guess I'm too old to imagine things.

[YOSHIE]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

After I read your topic about Blockchain, crypto and sports.
I've read about it two days ago, if you talk about the new Blockchain scenario for sports, digital innovation should indeed be applied in the sports world, of course this is a promising new area for the sports world and gambling.

From your question, the quote below is very appropriate to answer the question you asked Blockchain a new moment in sports.

Let's start with the fact that the main values ​​on which it is based are: trust, responsibility, community and decentralization. the last of them, namely decentralization, can give clubs direct contact with their stakeholders.

In addition to: The Future of Sports – Cryptocurrencies and Blockchain Technology, that I've read.

[mindrust]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

If this hype keeps going, soon there won't be any casino that doesn't accept crypto currencies. That's how far it will go.

Crypto will devour them all because it is fast, it is cheap, it is semi/full anonymous.

FIAT don't have these qualities so when compared to crypto it doesn't stand a chance.

[DoublerHunter]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

^ Probably, only those online gambling sites remain fiat-based, and probably the reason because the jurisdiction they had followed is not allowed accepting BTC in their country. Not only sportsbook, even one of a sports team are now accepted BTC (crypto), probably because of Paypal adopting BTC worldwide and this Paypal mode of payment is now accepting BTC. So there is no reason why BTC and other crypto have become popular in the gambling industry and they are now accepting BTC.

[cryptomaniac_xxx]

Fiat based is still the king as far as online sportbookies is concern. But the gap is closing, crypto sports bookies now enjoy the support of many gamblers. And some of them have been highlighted in the last couple of years. So for sure bitcoin and crypto will be in-demand and there will be a time that we might overtake fiat based casinos. Billions are going to pour in the market that's for sure.

[Welsh]

I expect in the next few years a few primarily fiat based betting companies, and big ones at that will announce they are accepting Bitcoin. Cryptocurrency is getting more, and more common as a sponsor in elite sports, right from the UFC to Soccer. I mean, there's multiple football teams in the Premier league which is sponsored by a cryptocurrency company. In fact, I believe either Watford / Wolves have it as one of their main sponsors.

[danherbias07]

If I remember correctly, GCOX was promoted during the Pacquiao fight. Sadly, it was not that successful because it was aiming for celebrities and not the average person. But it is still an exchange that just didn't get the right amount of support or maybe a marketing strategy.

GCOX is the world's first crypto token exchange that helps celebrities create, list and trade their own crypto tokens.

I am not part of their team or their group or even connected to them.
Their salary are in millions of dollars so I guess it's just normal if they want a better way to transact large amount of money thru a different way with security included.  

[Zilon]

I feel converting payments of sports athletes to cryto currency equivalent would make a major boast both in the sporting industry as well as cryto currency world. Gradually most athletes are demanding their payment in cryto other than the general fiat currency used over the years and this would be a beautiful idea if adopted. And this also would cause a boast in some crypto projects that hasn't seen much progress since the would have an opportunity to partner with sporting activities.

[Strongkored]

More sporting events also sports clubs use crypto as sponsors or accept crypto as a payment like NBA Clubs accept crypto for their ticket purchases.
Looks like sports and gambling will be the ones who most adopt cryptos, this is good because it will make crypto more famous and the uses will be more diverse.

[traderethereum]

We will have more sports and athletes getting involved in the crypto world because the process still continues.
But we can not expect that will happen in the near because those athletes and sports need to learn more about crypto itself to use crypto without a problem.
Besides that, it will be related to the government because they are as a regulator, will try to learn about crypto.
We might see a promotion from the athletes that invite people to try to use crypto and I am sure that they can do that as they can influence people to try a new thing.

[Wexnident]

It'd probably remain to be advertisements or what not, or maybe something similar to the NFT craze that Axie Infinity made. But for the current state of sports? I honestly see nothing that could actively influence sports. Maybe for gambling casinos as other have said, but again, it wouldn't really influence how the game or how the community works. Crypto in itself is a medium for payment after all, and it's not like sports actually actively use it to influence the results of the game itself.

[famososMuertos]

Well, it is something that is present and is here to stay, different sports are already glimpsing what may be the future of cryptocurrencies in the promotion of events, I have seen a racing car with the bitcoin logo, the events mentioned above and recently it is surprising to see a traditional logo of the forum on the screens of Espn for example:


^{source:Photo Capture ESPN - UFC event.}