Following the unexpected announcement that St. Petersburg will no longer consider BitPay as their major sponsor, ESPN is still open in accepting Bitcoin companies and businesses as sponsors for this year’s college bowl.
BitPay, a payment processor conducting Bitcoin transactions, won a three-year deal to provide financial assistance to the annual event. However, St. Petersburg pushed through with just a year of partnership with the said payment firm.
After this broadcast, a lot of Bitcoin supporters, developers, and spectators are still confused and are still in doubt with the sudden cancellation of contract that lead them to speculate that Bitcoin is still a farfetched idea.
Nevertheless, ESPN explained that there are no underlying reasons to why the sudden drop of sponsors and that the decision was agreed upon by both the sports channel and BitPay.
A spokesperson from ESPN said in an interview:
“The decision to rebrand the event to the St. Petersburg Bowl was a mutual one between both BitPay and ESPN.”
In connection to this surprising turn of events, ESPN said they are not closing their doors to multinationals, particularly Bitcoin-related businesses, to sign up as one of their new event sponsors.
BitPay’s sponsorship and the effects to the Bitcoin industry
In spite of just being a one year sponsor for the college bowl, BitPay has made an astounding development to both Bitcoin markets and the community.
Dubbed as the first ever ‘Bitcoin Bowl,’ ratings for the show made a huge hit. Estimates show that the event gathered an audience of more than 3 million, showing great supremacy over many NCAA basketball playoffs.
The sponsorship is a definite marketing success and is a pedestal for the virtual currency community. Now, having experienced great exposure, its industry, particularly the Bitcoin casino community continues to grow.
Moreover, cryptocurrency aficionados and normal Internet users are now more enthusiastic whenever Bitcoin casino games, especially sports betting events, are held due to progressing influence brought by BitPay’s sponsorship.
Regardless of the sudden disconnection between St. Petersburg and BitPay, one year is definitely enough to fuel the Bitcoin industry to reach greater heights, even creating more excitement on the Bitcoin casino market.