Sports and cryptocurrency deals are no longer becoming a surprise, earlier premier league club Watford announced its new sponsorship deal will be paid in crypto. Also, Arsenal FC has made intents to lunch its own unique NFT.
Watford, a Premier League football club, recently announced a sponsorship agreement with Stake.com, a cryptocurrency sports betting platform and casino.
The entire transaction is paid in cryptocurrencies, but the football club has not disclosed the financial details.
Watford’s name has already been in bitcoin news as a result of its crypto sponsorship deals.
“ambitious outlook and commitment to innovation…an extremely exciting campaign for the club as we return to the Premier League and we couldn’t be happier”, Watford chairman, Scott Duxbury told BBC.
Stake.com will be the club’s major jersey sponsor for the 2017 Premier League season, which begins next month. To kick off its long-term association with Watford, the online betting and gaming service has offered a giveaway of over 10 million DOGE ($1.9 million) across its international platform.
Government agencies are looking into the growing market for crypto gaming and sports partnerships.
Public organizations are now beginning to widen their crypto crackdown to include sports betting agencies. This could entail amending the Gambling Act to prohibit gambling sponsorships.
Sports and cryptocurrency relationships are on the rise, with a number of well-known athletes negotiating deals with cryptocurrency companies.
Major leagues are gravitating towards attracting crypto customers, who are reported to be younger and wealthier than their previous majority audience, as the crypto trend has lately caught up with the sports sector.