How Major Sports Events Drive Crypto Betting Adoption

Whatever part of the world you live in, you must have realized that more sports betting companies are supporting cryptocurrency payments. The increasing interest in gambling with Bitcoin and other cryptocurrencies on online betting sites can be attributed to its convenience, security, and fast transaction speed.

However, the increase in the number of people betting with crypto betting is not only because of online sportsbooks. We can attribute it to the presence of major sporting events all over the world. These activities offer sports lovers and bettors various opportunities to bet on their favorite teams and players.

This guide highlights the major sports events that influence the use of cryptocurrencies among online bettors worldwide.

What Are the World’s Biggest Sporting Events?

Below, we review the world’s most popular sports bettors fancy on crypto betting sites and their respective sports events that combine people from different countries.

1. Football (Soccer)

Football is the world’s most popular sport, with millions of fans worldwide. The sports game cuts across hundreds of countries and fans supporting their nations and various football clubs. Interestingly, all online bookmakers offer thousands of football events that players can bet on daily.

These sportsbooks also accept cryptocurrencies like Bitcoin and Ethereum for deposits and withdrawals. Some of the biggest football events you’ll find on such Bitcoin sportsbooks include:

The FIFA World Cup

The FIFA World Cup lights the globe up with its colorful international football tournament every four years. With 32 countries contesting for the global golden trophy, millions of fans and bettors across the world back their favorite teams and players with pre-game and live betting on reputable sportsbooks.

The UEFA Champions League

The UCL is another notable tournament that brings football fans around the world together. The continental tournament features various matches across 32 teams vying for Europe’s most prestigious trophy. Bookmakers also offer bet types like parlays, moneyline bets, futures bets, and prop bets.

The Olympic Football Tournament

The Olympic Football Tournament features 16 teams representing different continents. Every four years, all the qualified national teams aim to win the trophy at the end of the Olympic games. As one of the oldest games, the Olympics attract millions of football fans cheering their teams on at the global competition. Bookmakers also let supporters wager on their favorite game and player odds.

Other notable soccer events that attract bettors worldwide include the UEFA Europa League, the EUROs, the AFCON Tournament, and Copa America.

2. Basketball

Basketball is another top sports game with massive fans all over the world. Fans and players from different countries love the court game because it features various tournaments. US sports bettors particularly fancy basketball because of the various gaming options it offers. Some of these include:

The FIBA World Cup

The FIBA World Cup brings together national basketball teams from 32 countries. Each team plays at different venues in the host country with the hope of lifting the trophy. The bet types include over or under bets, parlay bets, halftime, quarter, and prop bets.

The NBA

The NBA needs no introduction among basketball lovers. The professional basketball league comprises 30 teams from the US and Canada, making it a reputable continental competition.

Virtually all crypto sports betting sites offer NBA bet options for players and fans, and you can wager on games using various digital assets.

March Madness (The NCAA Men’s Basketball Tournament)

The NCAA Division tournament (also known as March Madness) is another popular basketball league in the US. The college game features 68 teams from different colleges competing for the championship.

Bettors can bet on NCAA games on supported bookies and play games with popular altcoins like Litecoin, Ripple, and Tether. Moreover, you can bet on other famous basketball events like the Olympic Basketball Tournament, WNBA and the EuroLeague.

3. Tennis

Tennis is one of the world’s most-watched sports games, with players, fans, and competitions from different parts of the globe. Like other notable sports, tennis has different global and continental events that people can participate in and bet on. Some standout tennis events that drive crypto adoption include:

Grand Slam Tournaments

The Grand Slam is perhaps the most prestigious tennis competition. It features various events that run through the year in four countries and cities. The tournaments are also primarily individual games, offering gamblers a different approach to sports betting.

The tennis events that make up the Grand Slam are Wimbledon, the US Open, the French Open, and the Australian Open. All the games from these tournaments have different betting options and odds. Common bet types include handicap bets, set bets, match bets, and futures bets.

ATP Finals

The ATP Finals is a notable tennis event outside the Grand Slam category. The indoor tennis game is held in Italy every November, featuring the best men’s singles and doubles teams. You can bet on ATP games for an exciting experience before the season comes to a close.

WTA Finals

The WTA Finals is the female variant of the ATP Finals. During the event, the best 8 women’s singles and doubles teams have an end-of-season clash for the title. The event also has various betting options you’ll find on sports betting platforms.

4. Cricket

Cricket is one of the least popular games in some parts of the world, but different Asian and European countries participate in the sport.

Like other sports, cricket has various tournaments holding different times of the year. These include international and national competitions like:

The ICC Cricket World Cup

The ICC World Cup is the sport’s leading international tournament. It features qualified teams from all cricket-playing countries. The tournament’s popularity among the fans from the participating countries makes it a top betting event on bookie sites.

Considering that some of the sport’s participating countries (including India and Sri Lanka) have strict gambling regulations, bettors from these locations opt for Bitcoin sportsbooks with offshore licenses and anonymous gambling opportunities.

The Ashes

The Ashes is a biennial Test Cricket series that pitches two big rivals, England and Australia against each other. The event celebrates the old-age rivalry between both countries, offering supporters and bettors bet options like innings run, top bowler, top batsman, most sixes, and series winner.

Other notable cricket events to bet on include the ICC T20 World Cup, the Indian Premier League (IPL), the Asia Cup, and the Big Bash League (BBL).

Cryptocurrency and Blockchain Use Cases in the Sports Industry

There are numerous use cases for cryptocurrencies and blockchain technology in the sports gaming world. Here are the different opportunities for different stakeholders can promote crypto adoption:

• Online Payments

Some sports businesses accept Bitcoin payments for tickets and merchandise sales. For instance, a notable football club like FC Barcelona and Oxford City FC allow their fans to buy tickets, food, and drinks with crypto. The acceptance of cryptocurrencies by such entities encourages more people to own and use them.

• Sponsorships and Partnerships

Crypto companies spend millions of dollars on sports sponsorship deals. These businesses partner with top sports teams across various leagues worldwide to increase their visibility and potentially make more sales.

For instance, cryptocurrency exchanges like Crypto.com and Bybit have partnership deals with sports businesses like PSG and Red Bull Racing. Tezos, a blockchain development company, also partners with Manchester United. Their partnerships with these brands improve their credibility and encourage broader crypto adoption.

• Fan Participation and Engagement

Many sports teams boost fan engagement and participation using cryptocurrencies. These teams reward dedicated fans with fan tokens, including non-fungible tokens (NFTs) that offer them special privileges. These include clubs like PSG, AC Milan, and Arsenal FC.

Some teams also have crypto-based reward programs that give active fans crypto rewards.

• Marketing Campaigns and Awareness

Sports events provide crypto-focused companies with a massive avenue to advertise their products and services. From pitchside advertising boards to media backdrops for interviews, there are various opportunities for brands to showcase themselves.

Some crypto companies also create educational resources to help sports companies train their fans on cryptocurrencies and encourage them to use crypto. Overall, the exposure builds awareness for the brands.

• Secure Ticketing and Sales

Blockchain technology helps businesses secure and manage ticketing, merchandise, and other sales. Fantasy sports gaming platforms like Battle Infinity (IBAT) also improve their security and transparency using blockchain technology.

Sports Betting is Influential to Better Crypto Adoption

The union between cryptocurrencies and sports betting is still in the honeymoon phase with a lot of potential. However, due to its numerous perks, including fast payments, massive crypto bonuses, and overall convenience, more players will adopt Bitcoin casinos.

Moreover, ongoing partnerships between sports fan groups and crypto-focused companies will create active fan participation and broader involvement. As more sports betting markets like Esports continue to grow, crypto bookmakers will experience a massive influx of customers of all ages from various parts of the world.

Ultimately, the popularity of these sporting activities through wide media coverage and passionate fan participation will rub off on the cryptocurrency industry, and more gamblers will seek exciting crypto betting opportunities.

Photo by Traxer on Unsplash

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