It was a momentous event for the Bitcoin community to see for the first time its much-adored digital currency’s name on the St. Petersburg Bowl seal last year, but little did bitcoiners know that it could have also been the last.
Based on reports, ESPN confirmed that this year’s college football playoff will no longer bear the Bitcoin branding. This, however, raised questions among followers of the annual event who also happen to be Bitcoin adopters and supporters.
Despite the three-year sponsorship deal won by BitPay last year, the Bitcoin payment processor who backed the said football event, Bitcoin St. Petersburg Bowl pushed through for only a year. The sponsorship was done in order to promote the digital currency and to correct the negative perceptions the media projected months before the Bitcoin bowl.
This also served as a marketing study to learn about the viable business models Bitcoin can bring to the world of sports.
With the sponsorship called off—at least for this year—it is still unknown, though, whether or not bitcoins will still be accepted and used for purchasing tickets and goods.
Does this hint Bitcoin’s lackluster appeal in sports?
While dropping the Bitcoin branding for the 2015 St. Petersburg Bowl relayed signs that the sporting scene or the annual college football event was not satisfied with the marketing presence of Bitcoin, the same cannot be said on the online betting scene.
The iGaming industry is seeing the rise of the Bitcoin casino market, and along these sites are the various sportsbooks that run on the cryptocurrency. Stripped off of the popular Bitcoin casino games, these online bookies still receive great following from avid sports bettors from across the globe.
Nitrogen Sports is among the leading names in the Bitcoin sports betting niche, and it covers an extensive range of local and international matches, including both major and minor leagues. To use its popularity to its advantage and to boost its services, it also offers casino games, much like how most of the sportsbooks—Anonibet, News&Score, and Betcoin Sports to name a few—do these days.
Bitcoin may have lost its share of exposure in the annual football event this year, but this does not translate to the players’ disinterest in betting on sports with bitcoins.