To what extent can sport be strengthened with cryptocurrencies

[ethereumhunter]

Crypto currency has gotten it's was into sports betting since 2010 and more are creeping in gradually making it even more competitive. To strengthen crypto currency more in sporting activities could also involve paying sports men/women in crypto currency other than the regular fiat and as such crypto currency would be strengthened

Sports betting using cryptocurrency nowadays has become popular, making many gamblers who use fiat money get familiar with crypto and try to use crypto. We will see an online gambling site that uses fiat will try to integrate their payment method using crypto because they want to attract a gambler who is familiar with crypto to their place. If they can do that and many gamblers can come to their place, they will make a lot of money from fiat gamblers and crypto gamblers. The sportsman and sportswoman will see crypto can be used as their income and some of them already accept the payment using crypto, as @AmoreJaz mention.

[peter0425]

True.

It's a vast audience that their sponsorship is bringing to the market. They get to be popular because those sponsors are being brought by the leagues or athletes that they support.

And those athletes and leagues fans get to know more about cryptocurrencies too as they visit those bookies.

It's a win-win situation for all parties involved like the Cryptocurrency gambling sites, the sports organizations, and the fans, Crypto based gambling sites are sponsoring sports events like MMA and other sports events so they can promote their company, they are pouring money into these sports events and sports events are giving fans great matches and full coverage, we will see more partnerships in the future the sporting events are growing and so is the Cryptocurrency.

Cryptocurrencies is one of the best tools and accessories for online gamblers and actually sooner in real casinos as well.

so this is a win win solution from the gamblers and the casino owners also with sports people because they are all in together to deliver best result for the people.

[Slow death]

Crypto currency has gotten it's was into sports betting since 2010 and more are creeping in gradually making it even more competitive.

I thought it started after 2010, dice game sites are already old these I accept that since 2010 they accept bitcoin, but I didn't know that sports betting sites already accepted bitcoin since 2010

To strengthen crypto currency more in sporting activities could also involve paying sports men/women in crypto currency other than the regular fiat and as such crypto currency would be strengthened

without a doubt that the biggest challenge is to pay wages in bitcoin, due to the volatility it becomes very complicated and impractical to pay wages in bitcoin

[goinmerry]

I thought it started after 2010, dice game sites are already old these I accept that since 2010 they accept bitcoin, but I didn't know that sports betting sites already accepted bitcoin since 2010

Same here. That brings me to search for some of the old sports betting sites. So far, Cloudbet and Nitrogensports were the sites I found that is running for a long. They have started in 2013 so I'm still searching if there's a crypto betting sites already on 2010.

without a doubt that the biggest challenge is to pay wages in bitcoin, due to the volatility it becomes very complicated and impractical to pay wages in bitcoin

And employees really preferred to have their salary in fiat compare to bitcoin. Not that they are not technical but their salary was supposed to spend, not to hold and if need right away, it will take extra steps to convert it to fiat.

[Zilon]

If major crypto sportsbook do sponsor like what Stake did with Adesanya in UFC, I think that's the only way that crypto can bolster sports, through sponsorship and the adoption of players of cryptocurrencies themselves.

How about awarding tokens to athletes during tournaments and also having ambassadors to certain tokens from the sports sector I was just thinking if bringing real life concept will also strengthen sports with crypto currency. If some tokens should own ambassadors the pay in their token who will in turn cause this tokens to have lots of investors then both the market capitalization and sports activities will experience some level of boost.

[iv4n]

If major crypto sportsbook do sponsor like what Stake did with Adesanya in UFC, I think that's the only way that crypto can bolster sports, through sponsorship and the adoption of players of cryptocurrencies themselves.

How about awarding tokens to athletes during tournaments and also having ambassadors to certain tokens from the sports sector I was just thinking if bringing real life concept will also strengthen sports with crypto currency. If some tokens should own ambassadors the pay in their token who will in turn cause this tokens to have lots of investors then both the market capitalization and sports activities will experience some level of boost.

Premier League newcomers Watford have sealed a new shirt sponsorship agreement with Stake.com, a Curacao-based online sports betting company and crypto casino, worth a reported UK£5 million (US$6.86 million) a year!

We all know about this! I would say that crypto can do the same as fiat, and crypto can do it better! So I guess it would be fair to say that only the sky is the limit here! We see some news here and there about crypto projects sponsoring sports teams, and all until now is probably not even 5% share of the total sports sponsorship revenue, of course, on a global level!

Take a look at this if you are interested more about this: Size of sports sponsorship market worldwide in 2020 and 2027(in billion U.S. dollars) - https://www.statista.com/statistics/269784/revenue-from-sports-sponsorship-worldwide-by-region/

[Fesatmas]

Crypto currency proportionates more accessibility to sports through sports betting and help to promote them in countries where crypto is popular, but some sports aren't. For an example, let's say you are deeply inside crypto universe and sports betting and you see some sports that aren't popular in your country on a crypto gambling platform. But since it's popular in crypto universe, you become used to it after a while and even start betting on the sport. So we can conclude crypto currency helped to promote that respective sport to a new group of people.

That's right and we've been through it for a long time. Before sports that should be bet directly in the real world. So crypto provides us a service in the form of crypto betting with a much wider range of options and a variety of options to get to know more about sports that we rarely see in our own country. In fact it will provide the experience of any sports game that is not available.

We strongly agree that the position of crypto being able to regenerate promotions that are no longer growing can now be much easier to bet on. You only need crypto and don't need to go far to see a match just to bet. Save your guess and it has contributed to increasing the names of sports that may have rarely been bet on in gambling.

[Davidvictorson]

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 like that sports clubs are fast adapting to it. Everyone wants a piece of it. Because it means more revenue for the clubs. It is interesting to note that these club owners are even more interested in the wider technological applications of blockchain technology.Right now, blockchain, crypto and NFT is akin to the internet explosion 30 years ago.

[molsewid]

We all know about this! I would say that crypto can do the same as fiat, and crypto can do it better! So I guess it would be fair to say that only the sky is the limit here! We see some news here and there about crypto projects sponsoring sports teams, and all until now is probably not even 5% share of the total sports sponsorship revenue, of course, on a global level!

Take a look at this if you are interested more about this: Size of sports sponsorship market worldwide in 2020 and 2027(in billion U.S. dollars) - https://www.statista.com/statistics/269784/revenue-from-sports-sponsorship-worldwide-by-region/

The graph for the sports sponsorship market worldwide by year 2027 is far higher than it has about last year which only shows that sports sponsorship getting stronger and we can expect that before year 2027 reach cryptocurrencies will be part of the sports sponsorships. Truly only sky is the limit because it has so many possibilities and to what extent can sports be strengthened with cryptocurrencies I think are unbounded because we didn't yet know what's the role of cryptocurrency by sports sponsorship but we are very much optimistic that once it gets use it would be unstoppable.

[alpamar99]

for now it may be growing because more and more people are using it besides that there is an American Football athlete, namely Russell Okung who converts his salary into bitcoin.
even according to the Foxes Business page, Russell Okung's assets were around $6.5 million in December 2020. Now, that figure could be around $8.95 million or about 233 bitcoins.
apart from that now a lot of coins for sports fans, Ziliqa and NFT in big football clubs.

and most importantly crypto gambling sponsorship sponsorship is now rampant among football clubs.
maybe in the future there will be more things like this.

[pinggoki]

As of now the best ways cryptocurrencies assist in strengthening the integrity and longevity of sports is through sponsorships and salary/compensations. That being said there is a good chance that more opportunities can be made with partnering sports and crypto aside from the ones I mentioned above. With the integration of the blockchain technology in sports systems, among others, there is a lot of possibilities to be made.

for now it may be growing because more and more people are using it besides that there is an American Football athlete, namely Russell Okung who converts his salary into bitcoin.
even according to the Foxes Business page, Russell Okung's assets were around $6.5 million in December 2020. Now, that figure could be around $8.95 million or about 233 bitcoins.
apart from that now a lot of coins for sports fans, Ziliqa and NFT in big football clubs.

and most importantly crypto gambling sponsorship sponsorship is now rampant among football clubs.
maybe in the future there will be more things like this.

Basically just partnerships, sponsorships, and payments/compensations. Endorsements could also work well as in the case with Israel Adesanya, but then again these are all temporary movements that will not really strengthen the integrity of sports and cryptocurrencies altogether. This could change in the future as I said earlier, but until then, we would have no choice but to settle with these.

[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?

The current adoption of blockchain in several sports clubs will certainly have a positive impact on the development of these clubs, nowadays cryptocurrencies have become one of the innovations for sports clubs in seeking new sources of income, and at the same time establishing relationships with fans around the world, because crypto or NFT created by the club is an asset that represents proof of ownership or membership in a club, so that fans have access to the club and also have the opportunity to participate in club decisions.

[Saisher]

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?

Because of the transparencies of the transactions on the blockchain, it's easy now for players and gambling operators to show or expose frauds on payments and winnings, gone are the times where players are at the mercy of gambling operators because they have a hard time showing the transaction to the public, they need a lot of consents to do that, same for gambling operators.

[ChiBitCTy]

I'm not really sure to what extent it could actually help sports, but I do know that there are quite a few sports teams that are getting in to cryptocurrency stuff.  The LA Dodgers had a "crypto token bobblehead" NFT giveaway a few years ago, the Sacramento Kings had some plush doll things that were crypto related, the Dallas Mavericks accept dogecoin at their games to purchase goods, the Philadelphia 76rs will sports a crypto logo on their uniforms this year etc etc.

[Gozie51]

I'm not really sure to what extent it could actually help sports, but I do know that there are quite a few sports teams that are getting in to cryptocurrency stuff.  The LA Dodgers had a "crypto token bobblehead" NFT giveaway a few years ago, the Sacramento Kings had some plush doll things that were crypto related, the Dallas Mavericks accept dogecoin at their games to purchase goods, the Philadelphia 76rs will sports a crypto logo on their uniforms this year etc etc.

The information is quite available on the use of cryptocurrency especially bitcoin and etheruem. The sporting world has not been backwards towards strengthening of crypto usage and down to ticket sales to fans, it has been used in different clubs.

Football Cubs have been strengthening the use of cryptocurrency

The beautiful game just got much prettier after European football giant Benfica announced they’d be accepting bitcoin and Ethereum payments. Now, fans of the Portuguese Primera Liga champions can pay for match tickets and club merchandise using cryptocurrency.

[Wakate]

Through sponsorships, sports bookies, accepting salaries in the form of cryptocurrencies. These are some of those use cases that can be applied to any sports.

If you haven't seen it yet, there are a lot of sports book already that have been sponsoring teams and individual in different sports of their niche.

As years are going, more firms and individuals are becoming aware about the importance of cryptocurrency and I know that will time every will turn to cryptocurrency transactions. Even the normal Fiat we are using now for business transactions and paying of salaries will be gone soonest. Crypto will become more safer in transactions attracting large adoption of it making people to embrace it than Fiat.

[LUCKMCFLY]

Through sponsorships, sports bookies, accepting salaries in the form of cryptocurrencies. These are some of those use cases that can be applied to any sports.

If you haven't seen it yet, there are a lot of sports book already that have been sponsoring teams and individual in different sports of their niche.

As years are going, more firms and individuals are becoming aware about the importance of cryptocurrency and I know that will time every will turn to cryptocurrency transactions. Even the normal Fiat we are using now for business transactions and paying of salaries will be gone soonest. Crypto will become more safer in transactions attracting large adoption of it making people to embrace it than Fiat.

You are right, even the importance of cryptocurrencies has reached countries where it has increased more than 258% as is the case in Australia where these statistics have been recorded:

Average Aussie crypto portfolio grew 258% in FY 20-21, survey reveals

The average portfolio size on Australian cryptocurrency exchange BTC Markets has grown from $577.65 (795.5 Australian dollars) to $2,069.16 (2849.5 AUD) in the financial year 2021, signaling a 258.2% increase in portfolio holdings, according to exchange data compiled by Statista on a recent BTC Markets survey.

Source:https://cointelegraph.com/news/average-aussie-crypto-portfolio-grew-258-in-fy-20-21-survey-reveals

So if individual economies are strengthened with cryptocurrencies giving good investment results, the sports industry will never miss this type of opportunity to establish the best business model.

[sunsilk]

As of now the best ways cryptocurrencies assist in strengthening the integrity and longevity of sports is through sponsorships and salary/compensations.

We also see various sponsorships, brand deals and partnerships coming from crypto bookies so that's the extent that these sports are coming up. But there are also some countries that are not agree with this so they're becoming strict with their implementation about rules that tackles gambling even if it's their country team that will benefit from it.

And for those teams or companies, they can also strengthen through their own adoption through selling merch and accept payments in crypto.

[Oilacris]

As of now the best ways cryptocurrencies assist in strengthening the integrity and longevity of sports is through sponsorships and salary/compensations.

We also see various sponsorships, brand deals and partnerships coming from crypto bookies so that's the extent that these sports are coming up. But there are also some countries that are not agree with this so they're becoming strict with their implementation about rules that tackles gambling even if it's their country team that will benefit from it.

And for those teams or companies, they can also strengthen through their own adoption through selling merch and accept payments in crypto.

Sponsorships or something correlated to it had been already targetted out which does means that this method is already still a no-go.So it would vary totally with the government.
https://www.gamblinginsider.com/news/12366/gambling-sponsorship-in-sport-declines-ahead-of-potential-ban
https://www.thedrum.com/news/2021/02/01/football-clubs-face-government-ban-betting-brand-shirt-sponsorship

I dont see up about been strengthen with crypto because its just too impossible that it cant really be noticed if ever there are imposed restrictions.

[Russlenat]

As of now the best ways cryptocurrencies assist in strengthening the integrity and longevity of sports is through sponsorships and salary/compensations.

We also see various sponsorships, brand deals and partnerships coming from crypto bookies so that's the extent that these sports are coming up. But there are also some countries that are not agree with this so they're becoming strict with their implementation about rules that tackles gambling even if it's their country team that will benefit from it.

And for those teams or companies, they can also strengthen through their own adoption through selling merch and accept payments in crypto.

Sponsorships or something correlated to it had been already targetted out which does means that this method is already still a no-go.So it would vary totally with the government.
https://www.gamblinginsider.com/news/12366/gambling-sponsorship-in-sport-declines-ahead-of-potential-ban
https://www.thedrum.com/news/2021/02/01/football-clubs-face-government-ban-betting-brand-shirt-sponsorship

I dont see up about been strengthen with crypto because its just too impossible that it cant really be noticed if ever there are imposed restrictions.

Restrictions are normal, but if the government will accept crypto gambling and regulate it fairly then that would strengthen the future of sports gambling which would gain a massive amount of money as bettors love to use crypto coins for gambling, the most popular coin use in gambling is bitcoin.

Massive adoption is on different kinds of usage, and gambling industry as a huge contribution on that, so it should be viewed as a tax revenue opportunity by the government.