Cryptocurrency payments are now common on various sports betting platforms. Different companies support Bitcoin and other digital assets to attract crypto enthusiasts, causing an increase in Bitcoin bettors who fancy convenience, security, and fast transactions.
However, the increase in the number of crypto bettors isn’t solely due to the presence of online sportsbooks that allow them to bet for real money. It also stems from popular sports events that attract fans and gamers worldwide.
But what are these major sporting events, and how do they contribute to cryptocurrency adoption? Keep reading to find out.
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The World’s Biggest Sports Events: A Quick Overview
The sports industry is saturated with diverse games. From soccer matches in different countries to basketball, cricket, tennis, horse racing, and American football, there are so many events all year round.
Below, we review the most loved and followed events that sport bettors fancy on reputable crypto gambling sites and how they influence consumer behavior toward Bitcoin and other digital assets.
1. The FIFA World Cup
Arguably the biggest sporting event in the world, the FIFA World Cup is one coloful tournament that connects billions of people worldwide. In fact, a New York Times report states that the World Cup attracts more viewers and fans than the Super Bowl.
The tournament is held every four years, with 32 countries vying for the global gold trophy. As a result, millions of fans and bettors in various parts of the world are rooting for their national teams and star players when the World Cup stage is set.
Even those whose countries aren’t participating have favorite teams and players they support for various reasons, including the survival of their bet slips.
These gamers play pre-game and live bets on crypto sportsbooks that accept Bitcoin, Ethereum, and other crypto wagers.
2. The UEFA Champions League
The UEFA Champions League (UCL) is another notable event in the sports industry. The European competition is the biggest at the club soccer level, featuring 32 teams with the sole goal of clinching the continent’s most prestigious trophy when the tournament is over.
Since the UCL brings together various soccer fans supporting their local or international football clubs across the world’s premium leagues, bookmakers allow them to bet on the annual event.
Typically, you’ll find diverse bet types, including parlays, prop bets, futures bets, and moneyline bets. As expected, you’ll find bookies accepting crypto for deposits, wagers, and withdrawals.
3. The Olympic Football Tournament
The Olympic Games is another global tournament that rocks the globe. It is one of the world’s oldest sports games, with a history dating back thousands of years.
The event happens every four years and features various track and field events. These include athletics, football, basketball, swimming, hockey, trampoline, and a myriad of other categories.
Due to its combination of multiple sports into one massive tournament, the Olympic games garner a lot of attention from sports enthusiasts and bettors. Sports bettors particularly fancy the Olympic Football Tournament because of its similarity with the World Cup.
It features 16 national teams from different continents, and there’s a gold trophy in store for the best-performing team at the end of the tournament. Bookmakers also let supporters wager on their favorite game and player odds for potential winnings.
France is hosting the 2024 Summer Olympics, which is scheduled to go live on 26th July 2024. You can join the countdown to stay updated with the various activities.
4. The FIBA World Cup
Basketball lovers will love the FIBA World Cup because it’s the most prominent b-ball tournament. As expected, the FIBA World Cup features the world’s best 32 national basketball teams competing for a trophy.
The fun part is that each team plays in various parts of the host country, showcasing its rich culture, history, and architectural designs.
Moreover, there are hundreds of bet types that basketball bettors can stake on, including over/under bets, prop bets, game parlays, halftime bets, and quarter bets. These bet options are available on top Bitcoin sportsbooks.
5. Grand Slam Tournaments
You can hardly talk about tennis without the Grand Slam. These consist of the sport’s most prestigious competitions, featuring various events that run all year round in four nations and cities.
The tennis competitions that make up the Grand Slam include top events like the US Open, Wimbledon, the French Open, and the Australian Open.
One reason fans love Grand Slam tournaments is because they feature the game’s greatest players. It also helps players approach sports betting differently. For instance, instead of betting more on team sports, they can focus on individual games from the Grand Slam.
Notable bet types from Grand Slam competitions include handicap bets, set bets, match bets, and futures bets, which can be played with cryptocurrencies on supported bookmakers.
What Are the Use Cases of Cryptocurrencies in the Sports Industry?
As stated earlier, the most common use of crypto and blockchain technology in sports is for wagering on games. However, there’s much more to crypto in sports than deposits and withdrawals. Other use cases include:
- Digital payments for tickets, merchandise, and dining at the stadium
- Sponsorships and partnerships between crypto companies and sports teams
- Improved fan participation and engagement through crypto rewards and fan tokens
- Secure and transparent ticketing and ticket sales using blockchain technology
- Marketing opportunities, including pitchside adverts that generate revenue for sports teams
Conclusion
The great relationship between cryptocurrencies and sports betting has kickstarted a new world of online gaming for sports bettors. It offers them numerous perks, including convenience, security, anonymity, generous bonuses and instant payments.
These benefits are already driving crypto adoption across the world and will continue to attract more bettors to gamble at crypto casinos using Bitcoin and other digital assets.
Additionally, cryptocurrency and blockchain technology provide better avenues for fans to connect with their idols or favorite players. As more crypto fan groups get created, more crypto betting enthusiasts will find their way to the best Bitcoin sportsbooks.
On the business side, crypto companies and sports businesses are fostering a symbiotic relationship that will create more awareness for crypto brands and generate more revenue for sports companies. So, it’s a win-win situation for everyone.
