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Leading crypto sportsbook Sportsbet.io announced the launch of a first-of-its-kind ‘Crypto Fan Fund’ today and donated Bitcoin (BTC) to its partner club Southampton FC. The fund will be used to power a series of fan-led initiatives across the 2021-22 season and thereafter.
During the current the season, the fund will be used to support the causes that matter most to fans. Saints Voice, Southampton FC’s long-standing supporter panel, will make the decisions on how the fund is used. The panel will work closely with the club and with Sportsbet.io to determine the greatest possible impact.
This Bitcoin donation is a major first within elite sports partnerships. Interestingly, unlike traditional fiat donations, the value of the fund can still change and move in line with the market, allowing for the potential of greater investments in future seasons. Sportsbet.io will underwrite the fund for the value of 2BTC at the point of donation, guaranteeing the club access to at least the minimum value of the fund, plus any additional profits accrued from deflation.
Head of Responsible Gambling at Sportsbet.io, Helen Edwards, said:
“Supporters are the lifeblood of the game and continue to demonstrate their unrivaled passion and loyalty every matchday. As a valued partner of Southampton Football Club, it’s incredibly important that we engage with the dedicated Saints fans and support them too, in any way that we can.
The opportunity to use Bitcoin in such an innovative way by setting up this fan fund is incredibly powerful. We firmly believe the hype is real and cryptocurrency is here to stay, and are excited to see how the value of the fund could continue to rise, allowing for even greater investments for Saints fans and the wider community”
Potential uses of the fund are better matchday experiences by providing much-needed assistance to local venues impacted by COVID-19. Saints Voice could however also choose to retain or ‘HODL’ a portion of the fund to invest in future seasons, thereby speculating on a Bitcoin price increase.
Southampton’s Director of Marketing & Partnerships, Sarah Batters, stated,
“Covid had a major impact on our fans’ experience of a matchday last season. Thankfully things are getting back to normal and almost all our fans have returned, so we are delighted to offer our supporters the opportunity to make their match experience even better, this season and beyond.
Working in close collaboration with the fantastic representatives on our Saints Voice panel, with Sportsbet.io’s ‘Crypto Fan Fund’ we hope to build a closer bond with our supporters by tackling some of the causes that they consider most crucial and look forward to seeing how they ultimately choose to allocate this fund.”
The donation confirms Sportsbet.io’s ongoing commitment as the main club sponsor of Southampton Football Club, and as a leader in the crypto-community. The initiative is part of Sportsbet.io’s ‘Believe the Hype’ campaign, encouraging Saints to support and live the hype around their club and cryptocurrencies.
The post Sportsbet.io Opens Crypto Fund for Southampton Fans appeared first on iGaming.org.
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Author: iGaming Team