Bitcoin Makes Premier League Breakthrough Thanks to eToro

Reading Time: 3 minutes

The crypto world is certainly no stranger to football, with the relationship between the two only strengthening in recent years. Thanks to a new partnership between eToro and seven top Premier League clubs, crypto has never been closer to the beautiful game.
Earlier this week we revealed that UEFA has successfully tested its new blockchain ticketing app and that it’s going to start using it throughout all UEFA competitions. This is a momentous leap for the world of football, as it will crush the often overinflated resale market. Blockchain technology and cryptocurrencies have slowly been making their way into everyday life and conversation. This partnership between eToro and some of the biggest clubs in English football will only help the crypto cause grow stronger.

Some of the Biggest Teams in England

The partnership between eToro and the previously mentioned clubs has been paid for entirely in Bitcoin, with it extending to all competitions the teams play in – not just the Premier League. The seven clubs involved are Tottenham Hotspur, Newcastle United, Southampton, Leicester City, Crystal Palace, Cardiff City, and Brighton & Hove Albion. Tottenham Hotspur is the only name from the big six clubs to join the advertising partnership with eToro, with it also being the only name of the seven to be playing in the UEFA Champions League. eToro’s reach into the sporting world doesn’t end with football. French tennis player Gaël Monfils is well known for trading cryptos on eToro and in May 2018 he was made the global brand ambassador for the trading platform.

When will the New Crypto Ads Be Shown?

Ads for eToro have been popping up throughout the season so far – a season that is only two weeks old. Most recently, the ads appeared on Match of the Day when Jose Mourinho – Manchester United boss – was speaking in a post-match interview after a loss to Brighton & Hove Albion – one of the seven clubs eToro has a deal with. In addition to squares on the interview backdrops, the partnership gives eToro visibility on tickets, matchday LED boards, and various digital rights. We can expect these ads to become more prominent throughout the coming weeks, as the new designs and timing slots for LED boards are finalized for the season.

Not Cryptos First Dabble in Football

Crypto made its major debut in the football world back in January, when Turkish side
Harunustaspor partly paid for a player in BTC. Following that, Gibraltar United announced it would be paying its players in cryptos for the 2018/19 season with a view to make it a permanent move. This combination of high-profile events within the football community all help cryptocurrencies reach more people and increase its chances of being adopted by the masses. Perhaps the next step for these seven pioneering Premier League clubs would be to accept cryptos for ticket, merchandise, and snack purchases at grounds.

Crypto Making Inroads in Other Sports

It isn’t just the Premier League that is starting to adopt crypto, in fact over in America the Major League Baseball (MLB) franchise is turning to crypto as a way to help boost revenues amid a low attendance crisis. MLB has turned its sights to selling unique blockchain collectibles in a similar fashion to CryptoKitties, and – so far – it appears to have provided the franchise with a much-needed revenue boost. At the PyeongChang Winter Olympics, Team USA used crypto as a way to raise money for the USA Luge foundation, as traditional adverts for fiat currencies are heavily restricted. The funding Team USA managed to gather will help the sport continue to progress and develop.
Blockchain and cryptocurrencies provide the sporting world with a variety of opportunities to source extra funding. It promises to ensure fake tickets can’t be sold on the internet to games and that ticket touts are left out in the cold. Digital currencies will provide clubs with a new revenue stream and ways to help their transfer budgets go a little further – bringing further top talent to English football in the process. The two industries have a long and prosperous future ahead of them, so this is just the beginning for sport and crypto in our opinion.