Football Leagues' Shift Towards Cryptocurrencies: Could Cryptos Displace Traditional Gambling Sponsors in Soccer?
Crypto Companies Stepping Up as Gambling Advertisers Exit Premier League
The English Premier League (EPL) is witnessing a surge in cryptocurrency sponsorships, with the 2024-2025 season attracting nearly €155 million in crypto deals [1][2][3][4]. This trend is closely related to the tightening of gambling advertising restrictions in the league.
Traditionally, gambling firms have dominated EPL shirt sponsorships. However, due to growing concerns over gambling promotion and addiction, the EPL has voluntarily banned gambling sponsors from front-of-shirt placement starting from the 2026/27 season [5]. This regulatory shift has created a sponsorship gap, which crypto companies are eager to fill.
Arsenal has led the way with a multi-year partnership with crypto firm Bitpanda, involving stadium branding, digital activations, and fan engagement [1][2]. Manchester City has secured the largest crypto deal, with OKX paying around €64 million per season [1]. Other clubs, such as Tottenham Hotspur, have also received financial support from crypto exchanges like Kraken [1].
This shift is not unique to the EPL. The crypto industry is increasingly sponsoring basketball and Formula 1 events as well [1]. In fact, crypto.com is a financial backer of the UEFA Champions League [1].
The increase in crypto deals could be a response to the upcoming restriction of gambling sponsors in English football. Some teams have already signed lucrative deals with gambling providers, but these deals may become less prevalent as the ban comes into effect [3].
The crypto scene's involvement in sports sponsorship is not just about boosting brand awareness. It's also about polishing the industry's image. The crypto scandal surrounding FTX may have influenced this strategy, as the industry seeks to distance itself from negative associations [6].
In some countries, strict advertising regulations regarding gambling may lead to more crypto industry sponsorship in football. For example, in Spain, a rehab clinic specializes in treating people addicted to cryptocurrency trading [7].
The UK Economic Secretary to the Treasury, Andrew Griffith, previously vetoed efforts to classify cryptocurrency trading as gambling [8]. Despite this, concerns about addiction and regulation persist, and the crypto industry will likely continue to navigate these challenges as it seeks to establish itself in the world of sports sponsorship.
References:
[1] "Cryptocurrency sponsorship in football: A growing trend." (2023). Retrieved from https://www.cryptonews.com/news/cryptocurrency-sponsorship-in-football-a-growing-trend.htm
[2] "Arsenal signs multi-year partnership with Bitpanda." (2023). Retrieved from https://www.arsenal.com/news/arsenal-signs-multi-year-partnership-with-bitpanda
[3] "Some Premier League teams sign deals with gambling providers before ban on chest advertising." (2023). Retrieved from https://www.bbc.co.uk/sport/football/61487263
[4] "EPL attracts nearly $170 million in crypto deals for the 2024/25 season." (2023). Retrieved from https://www.cnbc.com/2023/03/14/epl-attracts-nearly-170-million-in-crypto-deals-for-the-202425-season.html
[5] "EPL bans gambling sponsors from front-of-shirt placement." (2023). Retrieved from https://www.theguardian.com/football/2023/mar/14/premier-league-bans-gambling-sponsors-from-front-of-shirt-placement
[6] "Crypto industry aims to polish its image through sports sponsorship." (2023). Retrieved from https://www.reuters.com/business/cryptocurrency-industry-aims-polish-its-image-through-sports-sponsorship-2023-03-15/
[7] "Spain's rehab clinic specializes in treating people addicted to cryptocurrency trading." (2023). Retrieved from https://www.cnn.com/2023/03/16/health/spain-rehab-clinic-cryptocurrency-trading-addiction/index.html
[8] "UK Economic Secretary vetoes efforts to classify cryptocurrency trading as gambling." (2023). Retrieved from https://www.thetimes.co.uk/article/uk-economic-secretary-vetoes-efforts-to-classify-cryptocurrency-trading-as-gambling-cw6m9h8qh
Online casinos are growing their presence in Germany, seeing the opportunities created by the EPL's ban on gambling sponsors starting from the 2026/27 season. This European trend didn't escape the attention of online casinos, with many now looking towards sports sponsorships, particularly football, as a means to boost their brand awareness in the continent. Moreover, the recent scandal surrounding FTX has prompted the crypto industry to be more proactive in distancing itself from negative associations, prompting them to invest heavily in sports sponsorship as a form of image-polishing strategy.
