Volume of crypto deals increases significantly
Compared to the 2020/21 season, spending by sponsors from the crypto industry in the Premier League has increased approximately tenfold, as the website cryptopolitan.com reports.
Manchester City secured the biggest deal. The crypto exchange OKX pays the equivalent of 64 million euros per season to be placed on, among other things, the training clothes of the reigning enGLI champions.
The new sponsors also include the crypto exchange Kraken, which will financially support Tottenham Hotspur and which already sponsors the Bundesliga club RB Leipzig in Canada.
Crypto sponsors to replace gambling deals
Experts suspect that if jersey advertising for gambling companies in the Premier League is finally stopped for the 2026/27 season, a gap will open up that could be filled by crypto companies.
Currently, numerous clubs have concluded lucrative contracts with gambling providers and shortly before the advertising ban on the chest of the jersey came into force, some teams had signed a lucrative deal.
In a few years, the place on the jersey chest of numerous first division teams seems to be advertised again. Then the crypto companies could use their opportunity to place their logos thousands of times on TV broadcasts and in the stadiums.
Connections between gambling and cryptocurrencies?
In Great Britain last year there were efforts to to classify cryptocurrency trading as gambling. However, the then British business secretary to the Treasury, Andrew Griffith, vetoed the proposal.
Nevertheless, it is clear that the crypto scene has an importance for gambling. Even though playing with cryptocurrencies is not regulated in Canada, among others, there are still numerous sites that offer this.
In Canada there is now a rehabilitation clinic that specializes in people who have traded cryptocurrencies excessively and developed an addiction. So there seem to be certain parallels to the gambling scene, within which such offers also exist.
Crypto sports sponsorship goes beyond the Premier League
But it's not just enGLI football that benefits from crypto sponsors. With crypto.com, the UEFA Champions League has a backer from the crypto scene. There are also such commitments in basketball and Formula 1.
Experts suspect that the crypto scene is pursuing the goal of improving its popularity through sponsorship activities. On the other hand, she also wants to polish up her image, for example suffered from the crypto scandal surrounding FTX.
It will be interesting to see whether the strict advertising regulations regarding gambling in some countries will lead to football fans seeing even more sponsorship from the crypto industry in the future.
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