The relationship between sport and cryptocurrencies is getting closer. As of today, the number of teams that accept cryptocurrencies as a method of payment in ticket sales has increased, showing advertisements for exchange houses on their shirts and that have established alliances with different crypto assets.
This year marks a decade since the creation of Bitcoin, the first cryptocurrency of international validity, and which today has become not only a way of acquiring goods and services anywhere on the planet but also a big business.
Thus, the main characteristics of this type of currency, anonymity and decentralization, make it the perfect financial system for the world of gambling and casino games.
But what is Bitcoin? A unique digital money system protected by cryptographic technology that has no physical or paper version: it only exists within the digital universe. However, it can be used both to buy products offline, to withdraw funds in foreign countries and make monetary investments. In addition, and contrary to the money that most handle, Bitcoin is finite. In other words, only 21 million coins can be created.
How is it achieved? There are two ways: you can download the application from the official site or use an external resource, such as Blockchain. There are bitcoinfuture.app to help anyone interested in buying in the process.
This creation meant not only a revolution in the way of understanding money in general but also in the way in which online casinos and sports betting houses are managed. Its owners saw benefits in Bitcoin that with the traditional monetary system would be impossible: anonymity for users and transactions; total absence of commissions (or minimum); agility in the processes; and the ability to play anywhere in the world (even in countries where gambling is illegal).
For casino owners it is so profitable that they often offer bonuses and gifts to those who use Bitcoin to promote its use. It is fast, simple and safe; an online casino that is managed with cryptocurrencies can start operating in just two or three weeks, compared to a traditional one that can take months. They do not need compulsory licenses and also, since they are not that many yet, the competition is low and the public grows a little more every day.
The development of the Internet and social networks has led to a crisis in the sports broadcast segment on official channels. Blockchain can help here in the fight against piracy. How?
Track through a single database of copyrights and their sale. In addition, thanks to smart contracts, the blockchain can significantly facilitate the process of purchasing access to official sports broadcasts, and therefore increase profits.
Blockchain has also transformed the sphere of sports betting. Today, many blockchain projects are being created that make the prediction market honest, transparent and secure.
E-Sports is another ideal area for blockchain
E-Sports are one of the fastest growing quasi-official sports disciplines in the world. Although many still underestimate this industry, by the way, this industry attracts the attention not only of new users, but also celebrities, investors and famous advertisers. In this area, blockchain has yet to fully reveal it’s potential. But innovation is what cyber sports needs in the future.
The commercial advantages of blockchain and cryptocurrencies are highly appreciated in sports, because new technologies can be used for many purposes: forecasting various events, legal online gambling, or promoting or issuing special loyalty tokens. Blockchain projects can bring new ad contracts to successful celebrities, which for them is an added gain.
Since the technology is new, many industry giants continue to work the old-fashioned way, without fully understanding cryptocurrencies and their benefits. That is, until now not all market participants are ready to take bold steps, but over time, the number of projects in the field of sports and in search of a healthy lifestyle will only grow, as technology puts Availability of all your greatest tributes to achieve radical changes.
In addition to paying for and confirming electronic tickets, bitcoins are used to engage sports fans in a variety of activities at stadiums and elsewhere. Thus, special tokens allow fans to create new connections with their idols.