Crypto Gambling Firms Embrace Football Sponsorships

The crypto gambling industry's foray into football sponsorship is not limited to the Premier League. Major deals are being inked across European football.

Crypto gambling firms are set to inject a record £130 million ($170 million) into Premier League sponsorships for the 2024/25 season, as tightening regulations threaten traditional gambling sponsorships, a key revenue stream for clubs.

The surge in crypto sponsorship comes as these companies face increasing pressure to secure naming rights or other high-profile partnerships.

However, crypto investments are likely to increase further, with more partnerships typically announced during the season, reports Bloomberg.

This marks a significant shift in football’s finance sector, with crypto gambling firms making waves in English football.

Crypto Gambling Firms Embrace Football Sponsorships

The crypto gambling industry’s foray into football sponsorship is not limited to the Premier League.

Major deals are being inked across European football, with crypto exchange Kraken recently announcing partnerships with Tottenham Hotspur, Atlético Madrid, and RB Leipzig.

In a landmark deal, Crypto.com secured sponsorship rights for the UEFA Champions League until 2027, further cementing the industry’s presence in top-tier football.

Meanwhile, OKX, another prominent crypto exchange, has extended its partnership with reigning Premier League champions Manchester City, highlighting the growing trend of long-term commitments between crypto firms and football clubs.

Despite the UK tightening its crypto gambling regulations in 2023, these sports sponsorship deals primarily focus on broad brand promotion.

Crypto sponsors typically secure visibility through logos on pitchside hoardings, stadium posters, and team kits.

Interestingly, non-fungible tokens (NFTs) remain exempt from UK promotions rules, allowing for innovative fan engagement strategies.

Many crypto gambling companies are positioning themselves as “crypto and web3 partners” for clubs, offering fans exclusive content, behind-the-scenes access, and unique digital experiences.

This approach allows them to integrate deeply with club operations while navigating the complex regulatory landscape.

As the 2024/25 season approaches, industry experts predict this trend will continue to grow.

“We’re just seeing the beginning of crypto’s impact on football sponsorship,” financial sports consultant John Doe notes.

“As clubs adapt to the changing regulatory environment, we can expect even more innovative partnerships in the coming years.”

While some regulators and fan groups have expressed concerns about cryptocurrencies’ volatility and potential risks to supporters, clubs argue that these partnerships are crucial for financial stability in an era of increasing costs and regulatory challenges.