The world of crypto is now getting more real than ever and companies who deal with cryptocurrency are now making steady advancements. One such great way to move ahead is by signing collaboration deals with well-known brands or clubs. Although crypto is earning more acceptance across countries and governments, it is still not accepted wholeheartedly across industries because of the risks that people think they pose.Â
Sport is a genre of recreation that most people actively engage in. Stake.com is a very well-known crypto casino dealer and they claim to be one of the most legal casinos across the globe. Casino operators licensed by the United Kingdom Gambling Commission like Jonny Jackpot online casino are considered safe and trustworthy. Securing a position in the front seats was a strategic move by Stake.com by collaborating with Watford FC.Â
The United Kingdom Gambling Commission had taken up the onus to eradicate gambling addiction for the country. They have launched a myriad of programs to achieve this objective. The problem was further escalated since the number of gamblers in the UK rose to around 1.4 million in 2020 itself. Hence, stake.com is currently banned in most of Europe as compliant with the anti-gambling laws. Gambling is seen to be quite a problem in the UK and hence the stringent measures.
General Information about Watford FC:
Watford Football Club (FC) is a professional football team that has English origins. As the name would suggest, this team plays for Watford located in Hertfordshire. Watford FC is one of the competing teams in the Premier League, and given the rate of football fanatics in the United Kingdom, they are a very popular favorite.Â
Although they have been promoted recently, the conception of the football club dates back quite some time and they boast of a very rich history. It is believed that the club was first organized formally in the year of 1881, and the main man behind the conception was Henry Grover. Â
Watford FC had its fair share of both success and failure just like any other team however, the year 2021 proved quite lucky for them. Football as a game is taken very seriously in England and hence the popularity of Watford FC is quite expected.
General Information about Stake.com:
Stake.com has now become a very popular platform for people who prefer taking risks as entertainment. However, the problem is that they dwell on the concept of sports betting by promoting their offerings through Football clubs. This is currently banned or considered illegal in most countries.Â
Stake.com is a very famous crypto casino where instead of liquid cash, the mode of financial dealings is based on cryptocurrency. Casino gambling as well as crypto are very volatile concepts and have different expressions in various parts of the world.Â
Details of the Deal:
The sports fraternity was taken aback when players of Watford FC were seen proudly sporting the Stake.com jersey. Only later it was learned that both had signed a sponsorship deal and for the premier league, stake.com is the official sponsor of Watford FC.Â
Premier League is a widely watched tournament across the length and breadth of the globe and hence investing in a team like Watford FC could give them massive exposure. The major takeaways of the deal are as follows:
- In all of the matches, the players will sport a Stake.com jersey.
- Roughly estimated, Stake.com will be putting in around ten million Doge coins.
- Although the UK does not approve of Stake.com currently, they are trying to get into the market with the help of aids like Aspire Global.
Possible Fail:
This deal came during a time when leading football clubs like Luton Football Club have taken strong remedial action against gambling endorsements. Even bodies like The Betting and Gambling Council have taken up new initiatives and have banned all those advertisements which glorify gambling or betting. No matter how much Stake.com tries to reform the principles, it is formed on the foundational business model of the crypto casinos.Â
The concept of casinos and betting is not well accepted in The alarming situation associated with addictive gambling has been plaguing the nation. This has led to the formation of regulatory bodies such as ASA or Advertising Standards Authority, the Committee of Advertising Practice, NFL Players Association or NFLPA, etc.Â
Watford FC is therefore going to promote an offshore operator along with anonymous payment methods. Hence a collaboration between the leading football club and an aggressive crypto casino might not end up very well.
Concluding Thoughts:
Currently, the laws of the United Kingdom don’t majorly support any forms of gambling endorsements that might provoke addictive gambling. If Stake.com doesn’t come up with any new endeavor that can put a limit to the rate of provocative gambling, it could lead to potential problems.
