To what extent can sport be strengthened with cryptocurrencies

[BITCOIN4X]

Crypto betting is growing in popularity and has covered more and more sports betting so far. In the future, I might imagine that many fiat gambling site will announce that they will also accept cryptocurrencies on their site as it seems that some of the popular sports so far have also been supported by cryptocurrencies especially for fans. I found some example of cryptocurrencies for sports fans that the exchange is currently trading.

1. Juventus Fans Token
2. PSG Fans Token
3. Find More

[swogerino]

So far the biggest success is that some soccer sport clubs are being supported by some big casinos which operate mostly in crypto.Also in racing in F1 there are some exchanges,not the most well known exchange but they have their name in one of the F1 team,don't remember which one.This is only going to improve in the future.

[qwertyup23]

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?

There are several ways in order to integrate cryptocurrencies into sports.

For example, for promotional purposes, sports may endorse a specific coin in the market which can attract potential investors or curious people about its existence. In addition, players can also share their experiences in using cryptocurrencies as their investment. But in my opinion, one of the most effective ways would always be sports gambling.

Sports gambling using cryptocurrencies is one, if not, of the most famous ways of advertising such. Many people gamble BTCs or altcoins in the market in the topic of sports. Most people would become curious about its existence that would further warrant its advertisements to potential gamblers.

[kryptqnick]

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?

Blockchain has various use cases when it comes to sports. One non-crypto use is selling tickets which are in the blockchain database to ensure they aren't fake. As for cryptos, they can be used to bet on sports, and online crypto sports betting is growing. Then, betting websites can sponsor sports teams, so that they feature their logos and perhaps a BTC logo as well. So it's a mutually beneficial relationship for the sports industry and for crypto users. However, since cryptos are first and foremost a type of money, I don't think there's much beyond this that can be done with sports using cryptos.

[imstillthebest]

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?

The biggest impact crypto currencies have on sports at the moment is through  gambling. A lot of bookmakers switched to crypto currencies and many of us gamblers are using the fast and easy way to pay and withdraw in cryptos. The demand for crypto sport betting will likely keep rising with the crypto prices.

we will find a way on how to increase our cryptos after seeing the price of cryptos are soaring and gambling is one of that source because it was instant than other crypto earning oppurtunities but you only need to control your self so that you wont get addicted .
sports gambling  could be a good choice when gambling in cryptos because it could be less riskier when you are good at the sport your betting .

[Cling18]

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?

A sportsbook that accepts cryptocurrency has a huge impact on the sports and blockchain world. Most people who love sports and also gamblers are now into cryptocurrency and it actually strengthens both crypto and sports. These two could be each other's strength since more Sportsbook is now existing. People also prefer crypto payment method when it comes to online gambling.

[worle1bm]

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.

The time is not far away when cryptos like bitcoin will be legally adopted by Governments around the world and when they will be declared as legal tender then you can surely go on bets with your favourite coins if they are under the regulations or law passed.But crypto gambling is on the verge of becoming most common online casino place for players as they can benefit from holding the coins as well in long term and we have seen big whales growing in this gambling industry.This pandemic has increased the cryptocurrencies and so has the casino user base which will surely rise in future so get ready for that time also.

[Woodie]

Bridging cryptocurrency with sport can be done in so many ways,  we need more sportsbooks sponsoring more teams or doing this has part of their cooperate responsibility....I have seen cloudbet do it and it would be nice to see more coming on board.

Another option could be paying athletes or should I say sports men and women in crypto and this could carry on and crypto will be on high demand.

Casinos and sportsbooks with kyc should try to find a work around to remove kyc this could make them popular unlike what happens when most claim to be kyc free but hit you with an AML check when you deposit a high amount.

[fiulpro]

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?

I do think we cannot answer this question because it will go as far as the government is willing to take it. They might agree and disagree to the extent that it is beneficial for them. At the same time I do believe that many things are being done in terms of sports and cryptocurrencies but not all of them are worth it.

Bridging cryptocurrency with sport can be done in so many ways,  we need more sportsbooks sponsoring more teams or doing this has part of their cooperate responsibility....I have seen cloudbet do it and it would be nice to see more coming on board.

Another option could be paying athletes or should I say sports men and women in crypto and this could carry on and crypto will be on high demand.

Casinos and sportsbooks with kyc should try to find a work around to remove kyc this could make them popular unlike what happens when most claim to be kyc free but hit you with an AML check when you deposit a high amount.

There is already a lot that is being done. They are already very much interrelated. At the end of the day I do believe that cryptocurrencies are most popular when it comes to a betting site. In countries where normal sports betting is not allowed there they usually allow the crypto gambling.

Plus people have been loosing a lot during the pandemic there are businesses which are closed down but we see a ever flourishing one which is "sports gambling industries" they even gave us  the most successful CEO's. Plus even though the tax implemented by the government in sports gambling is high people usually go through with it.

I think it's already a win win for many and we have yet to see more applications coming this way.

[DU18]

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?

I think crypto is very possible to be applied permanently in the world of sports, and of course it must also have its own rules made by the authority in charge of the sport, we can see now that even some sports have made crypto platforms as their sponsors, such as formula 1, football as well as other sports, and this strengthens if crypto can be accepted in all aspects of human life in today's modern era.

[semobo]

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?

Crypto currency is a form of currency so it is not going to do anything extra to help a sport to grow it will make the payment options easier and transparent with the help of blockchain technology and at the same time they can hide their original revenue and pay fewer taxes to their governments if athletes are not willing to reveal their total income.

[Lanatsa]

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?

Its already been a while where crypto integrated with gambling industry and we did actually see some progress or changes about it which is making even more better in terms of accessibility and of course when it comes to anonymity on where most people do love most.

Asking on how to strengthen? Just let these things do happen in the test of time because everything will really be varying on someones demand and this is the main factor would be telling out on
how far or broad this industry would be taking on.

Why care that much? Just sit down and look on how far we would able to reach out.

[dothebeats]

Teams and leagues sponsored with cryptocurrencies can go a long way. It can also help athletes realize that in time, their bodies will age and they will not be able to compete by then. That soon they will need to invest into something for their future. Crypto can help them with that, and some athletes are already opting to be paid in crypto.

[bL4nkcode]

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?

Cryptocurrency is tied with anything that needs payment, and it completely suits for sports betting, payment purposes, tickets and many more. If all intl. sports leagues can do the same that would be enough.

[Fortify]

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?

I'm not sure sport has any relevance to cryptocurrencies beyond certain casinos/sportsbook sponsorship of athletes as a form of promoting themselves. However "esport" is definitely a field that is expanding every year and did especially well during Covid times (barring the large centralized gaming competitions being cancelled). It feels like esports have a direct relevance and could tie cryptocurrency into more of their competitive events as rewards, ultimately gamers who make a living online are going to need to convert it into cash for offline spending though. If there was more decentralized betting, allowing ultra competitive odds without the "house" taking a commission, then it might get more support across all sports betting markets..

[dunfida]

Teams and leagues sponsored with cryptocurrencies can go a long way. It can also help athletes realize that in time, their bodies will age and they will not be able to compete by then. That soon they will need to invest into something for their future. Crypto can help them with that, and some athletes are already opting to be paid in crypto.

Lets put up some links in regards to those athletes that do accept bitcoin or crypto converted from to their salary.

https://www.buybitcoinworldwide.com/athletes/
https://www.forbes.com/sites/tommybeer/2021/04/06/owner-of-nbas-kings-to-offer-to-pay-players-in-bitcoin/?sh=348b110f123f
https://www.cnbc.com/2020/12/30/russell-okungs-bitcoin-salary-could-trigger-more-pro-athletes-to-invest.html

These situation can even more be rampant in the future.

[Questat]

Are you referring to sports betting or the sports itself?

I guess on sports, crypto is already recognized as I read some news before that some players are accepting bitcoin as their salary and some teams are also accepting bitcoin as payment. The adoption has already started, we can't deny that, bitcoin has nowhere to go but up and everyone will adopt with it.

On the sports betting side, it's now widely used and some casinos in the crypto are even adding sportsbooks on their platform, the reason is they see the demand and that would result to make their business more profitable.

[just_Alice]

IMO cryptocurrencies have had a large impact on sports sponsorship, majorly through sports betting. In the US alone the revenue from sports betting has tripled since 2018, it could most certainly be linked to the emerging number of online bookies that deal with cryptocurrencies, thus making it easier for people to make bets. Though we'll never know for sure.

[Vaskiy]

Cryptocurrency acceptance is once into discussion as a source used only for illegal activities. Things have changed, and so is the sports and other platforms that are using cryptocurrency. When we talk of sports activities, gambling sites play a big role. Earlier it was believed bitcoin is an asset created for the gambling purpose. This is all because of its increased usage on gambling. Now it has been getting used all around.

Now more sporting authorities and clubs have been getting sponsored by gambling platforms. This has given more visibility and some has gone a level high standing as the official partner for certain leagues. In this manner we can expect good forms of growth and exposure through these sports. Also few players have started to get paid in terms of bitcoin which is a big news.

[iv4n]

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.}

Litecoin did something similar a year or two ago... they sponsored some UFC games as I remember! I agree with you, it's something that's already around, and it's not only it's here to stay, I believe it will be a lot bigger! Crypto logos will be everywhere around!
All this is only a beginning, we see it here and there... just try to think about few year years back, things like this were impossible to imagine, and look where are we now! So try to imagine what can happen in the next 5-10 years! I guess total madness, crypto will take a lot more space than it takes now!