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Benefits That Cryptocurrencies Can Offer Sports Fans
The sports industry has become what it is in the world mainly because of the fans. It’s a given to understand that sports leagues around the world have found that the true key to winning is to always cater to all of the fans' needs and likes. One way in which the sports industry has come to the aid of comforting fans in all ways is to keep up with the economic trends around to make all the fans-teams transactions as easy as possible, for example, ushering in the use of cryptocurrencies. For baseball fans for example, some of the top online World Series betting platforms have adapted their services to welcome the usage of digital money.
If there’s one thing that’s as clear as water is that fans fill stadiums and arenas, they buy merchandise and they follow every team’s moves, in short without fans there wouldn’t be a sports industry. So with this new crypto trend taking the world by storm, what are some of the benefits sports fans can take away from using this new option of money?
Fans Gaining Advantages from Teams and Crypto Companies Joining
Teams all around the world have started looking at cryptocurrency companies as their newest and most attractive sponsorship partners moving into the future. The first major team in the United States to actually find a way to bring together their fan base with a crypto partner was the LA Dodgers. Back in a home game in September 2018 the Dodgers held the first ever “Digital Bobblehead Night” giving the first 40,000 fans the chance to download a crypto token for a digital bobblehead doll version of some of the most popular Dodgers players. After the success of this move, more teams have looked to blockchain-based companies that deal with crypto at their base to allow fans to collect new sorts of digital memorabilia gadgets in exchange for e-money.
Another fan favorite activity that has seen a development in the crypto world has been the promotion of crypto based fantasy leagues. In these leagues fans can manage teams of their choosing and run them however they wish by using cryptocurrencies to do their dealings, manage contracts and of course collect winnings.
Ticket and Merchandise Purchases Have Also Seen Positive Changes With Cryptocurrencies
While before sports fans would have to deal with the hassle of having to stress over finding the best ways to get their hands on prime sporting event tickets and their favorite teams’ merchandise, with cryptocurrencies in the mix everything has changed for the better. Teams have shortened the gap on counterfeiting problems and illegal purchasing of tickets and merchandise by allowing fans to use cryptocurrencies as their main source of money when buying such products.
While before fans would have to come to a point of dealing with scalpers and counterfeit experts, now teams are able to offer their products and tickets without having to fear mongering from a third party. At the end of the day teams and leagues have understood that making life as easy as possible for their loyal fans is the key to succeed in such a cut throat industry like sports entertainment. The rule is simple, if the fans are happy they’ll buy whatever the teams offer, so teams are totally on board with the idea of using crypto options as a source of payment for fans who are now full into the digital money wave.
Online Sports Betting Is Safer Now Because of Cryptocurrency Transactions
Another part of the sports entertainment industry that has seen a significant and positive change with the addition of cryptocurrencies to their dealings is the ever growing online sports betting industry. By offering the option for wagering fans to be able to use crypto money to be able to place their bets on teams and events, fans are offered a slew of new options mostly regarding privacy settings and information handlings.
The days in which online credit or debit transactions were the rule to practice online sports betting are slowly being put to rest thanks to cryptocurrencies being put into the game. The levels of security in which all crypto transactions are performed is close to none, offering fans the biggest levels of comfort and confidence while also profiting in immense ways. A win-win situation for all parts involved.
This article does not necessarily reflect the opinions of the editors or the management of EconoTimes