Will Cryptocurrency’s Influence Start to Gain Traction in the Premier League?

As Bitcoin and other cryptocurrencies become more prevalent and profitable, we are likely to see more multinational and large businesses.

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Despite being invented way back in 2009 and having appeared in numerous major news stories in recent years, Bitcoin is still not regarded as a mainstream method of payment. Its influence is gaining traction, though, and it has already inspired several other cryptocurrencies with similar capabilities.

If these digital forms of payment are to gain the trust of the masses, they need to break into popular mainstream industries. Getting representation in the Premier League is a great way for them to start pushing for wider usage.

Manchester City Already Sponsored by a Crypto Firm

Crypto firms are slowly beginning to sneak into the football industry, with some lucrative sponsorship deals in place already. One of the most important is the deal between Manchester City and the crypto exchange, OKX. This company is one of the biggest in this subsector of the fintech industry, and it paid more than $20 million to have its name adorned on City’s training kits. With the Etihad Stadium-based side having such a huge influence on other teams, this is likely to be the first of many similar deals.

It was recently announced that Aston Villa had got in on the act as well and signed a deal with a cryptocurrency-based gaming platform. This is another indicator of how digital currencies are starting to gain mainstream attention.

Crypto Casinos Closely Related to Betting Industry

The betting industry has always been a major booster to the world’s most successful football leagues, such as the Premier League. If you glance through the list of sponsors for the competition, you’ll notice that there are countless betting brands trying to get their names adorned on kits and billboards around the stadiums.

There are some sportsbooks that already accept cryptocurrency payments for bets, but the introduction of the futuristic concept has been more prominent in the online casino sector. Nowadays, though, casinos and sportsbooks are more closely linked than ever before. This is highlighted by the rise of white label bitcoin casino platforms that also offer sportsbook capabilities. Users simply sign up and have all the elements in place that they need to develop their own online casino and sportsbook brand. These include facets such as a friendly user interface, an advanced bonus system, and a secure payment system.

Players Showing an Interest in Cryptocurrencies

Some players have already been outspoken about cryptocurrencies and their support for them. Recently, there was a huge rise in the number of stars endorsing NFTs, with former Chelsea and England man John Terry famously getting involved.

Certain footballers are already requesting to be paid in cryptocurrency, underlining their belief that this could be the future of transactions. Former Arsenal man Kieran Gibbs gets paid half his salary from Inter Miami in Bitcoin and he believes that many others will soon follow suit.

The Premier League could be one of the best platforms for Bitcoin and other cryptocurrencies to use to break into the mainstream. When people see brands from the industry more frequently and associated with reliable teams, they may develop trust in this technology.

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