The year 2020 has been a challenging one for sports teams around the world and finding new sponsors can be more difficult as businesses struggle with revenue. Yet opportunities continue to abound, as demonstrated by the recent deal between English Premier League side Southampton FC and crypto sports book Sportsbet.io, as cryptocurrency platforms continue to capitalize on this unique opportunity.
COVID-19 and Sports Teams
Spectator sports have been hit very hard by the global COVID-19 pandemic as fans aren’t allowed to attend games in most countries. There is also a huge loss of earnings from canceling seasons, delaying the start of the new one, not being able to sell tickets or VIP seats, and so forth. A lot of teams are now battling to survive and many are desperate to ink crucial deals with sponsors to keep their financial sheets balanced.
According to sports academician Professor Wim Lagae, a ‘great deal of income is evaporating for football teams, whereas expenses remain unchanged”. Addressing this situation is difficult, putting an even bigger emphasis on sponsorship deals. Attracting those sponsors, with no promise of prime exposure of VIP packages, is not straightforward. This is where cryptocurrency platforms can extend a much-needed helping hand.
Southampton FC and Sportsbet.io
Premier League side Southampton FC has inked a one-year contract with Sportsbet.io. The cryptocurrency betting platform becomes the new main club partner and front-of-short sponsor for the upcoming season. Come September 12th, Southampton will take on Crystal Palace in their first game of the new season with their shirt sporting a new logo.
Signing the deal with Sportsbet.io will benefit both parties. Southampton FC secures a main sponsor during these troubling times while Sportsbet.io gains more exposure in the United Kingdom, which is one of its key markets.
Sports betting is — under normal circumstances — a popular business venue among UK sports fans. However, COVID-19 forced all retail gambling venues to close. Combined with the lack of sporting events, Q2 2020 has not been too great for UK betting in general, although providers exploring alternative betting markets have yielded some success. Virtual betting has also gained a lot more momentum, creating a “perfect storm” for Sportsbet.io to take the next step.
For the club, the introduction of Sportsbet.io also marks the end of the previous sponsor relationship with LD Sports.
Crypto Sponsors and the Premier League
Over the years, there have been many sponsors supporting Southampton FC. Most of them have nothing to do with cryptocurrency or blockchain, except for one: eToro. The investment platform sponsored multiple Premier League sides last year through LED boarding advertisements.
This is a clear example of how cryptocurrency-oriented companies are gaining more traction. Whether it is for investing, betting, or otherwise, they can all bring something unique to the table. Gaining more exposure by sponsor top league teams in major sports is a great way to improve overall cryptocurrency awareness and adoption.
For Sportsbet.io, the sponsorship deal with Southampton FC marks an interesting milestone. It is the second major English football club to be sponsored by this company. To this date, Sportsbet,io is also the principal sponsor of Watford FC, who will play in the English Championship this coming season.
As the first crypto sportsbook to introduce streaming across all major sports, as well as a cash-out function, Sportsbet.io is recognized as a leader in both online sports betting and within the crypto community. Sportsbet.io prides itself on its secure and trustworthy betting service, with withdrawal times of around 1.5 minutes among the fastest in the industry.