Why sports teams are rushing to join the crypto revolution?

Technology is invading every area of professional sport, with some improvements better received than others. Hawkeye technology used at the Wimbledon Championships and other tennis Grand Slam events helps the umpire make the correct call on whether a ball was out or not. This removes any chance of human error and means the vital calls in a match – often the difference between victory and defeat for a player – aren’t left to chance.

In the world of soccer, where every decision made by the referee and assistants is scrutinised by players, fans, pundits and the media, wrong decisions could end up costing a team millions of dollars in prize money. That’s why major tournaments, like the English Premier League, UEFA Champions League and FIFA World Cup, offer officials the assistance of a Video Assistant Referee, otherwise known as VAR. Although the use of video evidence continues to divide opinion amongst soccer fans, the technology helps get the big decisions spot on with no margin for error.

When it comes to making predictions on sports fixtures, technology has changed the way we back our favourite teams and players. The leading bookies allow members to wager on games using their desktop computer or smartphone, betting at the click of a button from anywhere in the country. Register with a betting app using your Android or iOS device, secure the best sportsbook promo codes and start making predictions. It’s fast, easy to do and secure with your online privacy also protected.

Crypto is already playing a part

The latest technology to have a huge impact on the world of sport is cryptocurrency, with the likes of Bitcoin making its way into every aspect of the game. From soccer to boxing, American Football to basketball and cycling to cricket, crypto’s influence is already clear to see. In sports where it’s not yet obvious, you can be sure it’s coming, and things will become clearer in the near future.

The most obvious way in which crypto is having an impact on professional soccer is through sponsorship, with the biggest teams from the EPL and other major tournaments scrambling to attract sponsorship from well-known crypto brands like Bitcoin. We are seeing an increasing number of football shirts displaying crypto apps with branding around stadiums, pitchside, on the player’s training gear and on the big screens. Some clubs have even made the bold move to rename their stadium to advertise crypto. This proves the financial muscle of Bitcoin and its increasing popularity among average fans.

Today, you’d do well to go through a day without noticing at least one advert for crypto, and that’s true of those who follow sport and people going about their everyday business. We are more familiar with digital currency today than at any time in the past, with millions using crypto to make purchases and investments. But what’s in it for the leading sports teams? The short answer to that question is big investment and readily available cash.

Following almost two years of lockdown in the UK during the pandemic when the English Premier League and Scottish Premiership played an entire season behind closed doors, the sport took a financial hit. With no gate income and less club merchandise sold, clubs had to continue their astronomical running costs, including the millions of dollars paid to players. The professional soccer industry in the UK and across Europe required a cash boost to help dig them out of a hole. Crypto appears to be the answer to generating that income without sacrificing the quality of the players, stadiums and matchday experience.

Club crypto tokens

In addition to the sponsorship deals struck between clubs, players and Bitcoin, the game’s most famous teams have taken it a step further and launched their own crypto tokens. You’ll find Manchester City, PSG, Barcelona and Juventus have a brand of crypto which is being snapped up by loyal fans and used to make purchases at the stadium and pay for tickets. Fans who purchase official club tokens gain a range of benefits, including voting rights on club issues, invitations to training sessions and a chance to meet the players. The number of clubs with crypto tokens is growing, and as technology improves, we envisage every club in the EPL will soon have tokens.