• Watford, a Premier League club, has signed a new sponsorship contract that is entirely paid in cryptocurrency

  • Watford, a Premier League football club, recently announced a sponsorship agreement with Stake.com, a cryptocurrency sports betting platform and casino. The entire transaction is paid in cryptocurrencies, but the football club has not disclosed the financial details.

    Watford’s name has already been in bitcoin news as a result of its crypto sponsorship deals.

    Watford chairman Scott Duxbury described the club’s ambitious perspective and dedication to innovation as “a tremendously exciting campaign for the club as we return to the Premier League and we couldn’t be happier.”

    Stake.com will be the club’s major jersey sponsor for the 2018 Premier League season, which begins next month. To kick off its long-term association with Watford, the online betting and gaming service has offered a giveaway of over 10 million DOGE ($1.9 million) across its international platform.

    Government agencies are looking into the growing market for crypto gaming and sports partnerships. Public organizations are now beginning to widen their crypto crackdown to include sports betting agencies. This could entail amending the Gambling Act to prohibit gambling sponsorships.

    Partnerships in Sports and Cryptocurrencies are on the rise.

    Sports and cryptocurrency relationships are on the rise, with a number of well-known athletes negotiating deals with cryptocurrency companies. Major leagues are gravitating towards attracting crypto customers, who are reported to be younger and wealthier than their previous majority audience, as the crypto trend has lately caught up with the sports sector.

    For example, the Ultimate Fighting Championship (UFC), a mixed martial arts organization based in the United States, has announced a $175 million 10-year collaboration with Crypto.com. UFC fight kits, walk-out outfits worn by UFC competitors, and uniforms of employees working in and around the octagon all feature the Crypto.com logo.

    “If we had chatted a few of years ago, crypto might not have come up in conversation, but it’s a sign of the times…

    It’s new, but it’s moving swiftly and has a lot of energy.” Lawrence Epstein, the UFC’s chief operating officer said.

    What's your reaction?