Are you into sports betting? Do you passionately follow your favorite sports matches, only to make the perfect ticket and earn some money from your favorite teams? Of course, soccer is still one of the most popular sports to bet on. Additionally, finance development requires advanced solutions when it comes to betting payouts, or any other economic deals in the industry.
So, do you know that cryptocurrencies are already taking a significant part in soccer as a sport, besides the betting options you have? For example salaries and other types of sponsorship and endorsements?
Cryptocurrencies open up many possibilities for international payments, so even someone on the other side of the world can easily buy merch without having to wait days for transactions to complete. So, in addition to betting on soccer matches, cryptocurrencies are also applicable in other aspects of the industry. This may include premier league picks, buying tickets for matches, as well as paying membership fees for the fan club.
There are several ways in which cryptocurrencies can be used in the soccer industry. Here are a few examples:
1. Sponsorships and endorsements
Cryptocurrencies can be used to sponsor soccer teams or individual players or to pay for endorsements. Often soccer players promote a brand or service, so they should be paid accordingly. Therefore, cryptocurrencies can be a convenient way to cover cooperation properly. A team or player could receive a certain amount of cryptocurrency in exchange for promoting a particular brand.
This is one of the most interesting ways to use cryptocurrencies in soccer, but also in the entire sports industry. It looks like we have some really interesting things to learn about this topic. So, we can move on to the next way of using these funds.
2. Sports betting
Sports betting is another way to use cryptocurrencies. If you are a fan of online betting, you surely want to find a way to take advantage of the opportunities for the biggest bonuses or winnings. In fact, more services are available to you than those limited to your region, which means it all adds up to more excitement.
And interestingly, as the value of cryptocurrencies changes, your savings may gain more value at a given moment. Of course, this all depends on you and what you want to achieve as a bettor.
3. Ticket sales
Cryptocurrencies can be used to purchase tickets for soccer matches. Sometimes, fans don’t have many convenient options to buy tickets for their favorite match, because transactions can be too slow. Cryptocurrencies are fast and efficient, and everyone can claim their tickets on time before they’re sold out.
This option would provide fans with a more convenient and secure way to purchase tickets and ease international transactions. It seems like cryptos aren’t as scary as people often describe them. You only have to find a way to use them properly. And surely buying tickets that may not be available near you is a nice way to invest some of the crypto coins, and manage to watch your favorite match live.
4. Merchandise sales
Merch sales are a popular way to buy something related to your favorite team. From coffee cups and T-shirts to keychains, sneakers, or socks, merch items are getting more and more popular every day. But, what to do when the stores don’t accept your fiat currency, or conversion rates are ridiculous? Surely, the answer lays in the world of cryptocurrencies and blockchain.
Soccer teams could also accept cryptocurrencies as a form of payment for merchandise sales. This would provide fans with more payment options and could potentially increase sales. As a result, both fans can get the items they want more efficiently, and teams earn money this way.
5. Player salaries
Cryptocurrencies could be used to pay player salaries. International player transfers require team owners to be really inventive about paying the fees. But cryptocurrencies seem to solve some of the challenges these people have. Transactions become really simpler and can be carried out without large commissions and additional costs.
This would provide players with an additional payment option and could potentially make international transactions easier. Surely, the goal is for every party included to be satisfied with the service. Even though cryptocurrencies are volatile and uncertain, they resolve many of the transaction issues teams have. But, it’s up to the players and their managers to decide whether it’s an acceptable option or not.
Still, having that option is a nice starting point, and maybe one day it will be more accepted among the teams and players.
6. Transfer fees
Transfer fees in soccer can be quite large, and that’s why they are pretty challenging for everyone who needs to pay, and even receive them. As you suppose, cryptocurrencies could be used to facilitate these transactions. Crypto transactions are fast, efficient, and can be completed in seconds. As a result, all the contracts and deals are more certain, without a risk of giving up on the transfer.
This would provide a more secure and faster way to transfer large amounts of money internationally, since transfers may occur between teams from different corners of the Earth.
7. More convenience during Cups
When traveling for tournaments or official Cups, soccer players have a hard time getting used to the local currencies, or they can’t find a convenient way to exchange the convertible currencies. And sometimes a few crypto coins can jump in, and make things easier, until finding a more acceptable solution.
With all these things said, we can conclude that cryptocurrencies provide several benefits to the soccer industry, including increased convenience, security, and speed of transactions. However, never forget that cryptocurrency can be volatile and there may be regulatory challenges that need to be addressed. That means everyone must be careful while using crypto money for any purpose. Sometimes it’s a great idea, but in other cases, traditional payments may work better for everyone.
Surely, there is a large potential for crypto finance to change the whole way the soccer industry works. We only need time to see how these things would go in the future, before completely embracing the crypto market as part of the sports.