Cryptocurrency-based platforms have gained a lot of prominence in the last few years. One way these platforms are entering different sectors is by signing collaboration deals with popular brands. But in many countries of the world, there are still many obstacles to the widespread use of cryptos because of fears about economic instability being brought about by digital currency.
Sports is one sector of the economy where cryptos have found high acceptance levels. Collaborations between sports clubs and crypto platforms are becoming increasingly common. This trend was visible when Watford FC declared their partnership with Stake.com. Stake.com is a specialized crypto casino that claims to operate with full legal compliance.
Stake.com is one of the top online crypto sports betting platforms that offer customers better safety and higher potential profitability. Watford revealed a “club-record contract” with their new shirt sponsor in 2021 after the company apparently paid in cryptocurrencies.
The Premier League club did not specify which cryptocurrency was used or how much the transaction was valued in pounds. It came after the club established a similar partnership with crypto-based betting business Sportsbet.io in 2019. Stake is preparing to launch a UK platform at Stake.uk.com, which will provide UK users with a variety of sports betting, casino, and gaming experiences, as well as unique Watford incentives.
The deal between Stake.com and Watford FC comes as a surprise for many long-time enthusiasts of the English Premier League. Stake.com is using companies like Aspire Global to circumvent the European ban and enter into UK markets. All Watford FC players will wear sports jerseys with the Stake.com logo on them, and in return, Stake.com will invest 10 million Doge coins into the club.
As Stake expands worldwide, the relationship with Watford FC will take advantage of the Premier League’s global appeal to raise brand exposure throughout the world, notably in the United Kingdom, where the brand will launch Stake.co.uk. Stake hopes to expand its worldwide presence by partnering with one of the oldest football teams in the world, while also helping the Hornets in their bid to break into the Premier League after a good season in the Championship last season.