Crypto Casino Stake.com Unfazed by Crypto Winter with Everton FC Deal

In recent years, the crypto market and sport have developed a close bond. Dapper Labs is at the forefront of sports evolution (FLOW).

Dapper Labs, the company behind the Flow blockchain, has been a pioneer in connecting US sports franchises with digital assets.

Dapper Labs and the National Basketball Association of the United States teamed in 2020 to develop the NBA NFT marketplace Top Shot. The debut came after a collaboration with the National Football League (NFL), which resulted in the establishment of the NFLALLDAY NFT marketplace.

Since then, cryptocurrency exchanges have expanded their reach into the world of sports. Sports provide cryptocurrency companies with a hitherto untapped client base in more rich places such as North America and Europe.

The crypto winter, on the other hand, has had an influence on the cash flow of numerous major exchanges in recent months. Reports of employment reductions have just contributed to the pessimism.

However, the crypto winter isn't all doom and gloom, as numerous crypto-related businesses see it as an opportunity.

Everton FC Sponsorship Deal Expands Stake.com's Bandwidth

The Sydney Morning Herald announced this week that Stake.com, an Australian crypto casino, has signed a new sponsorship contract with Everton FC.

According to sources, Stake.com has agreed to a multi-year sponsorship arrangement with the English Premier League club, which had previously lost its shirt sponsor owing to Russian sanctions.

According to reports, the agreement is the "highest value front-of-shirt contract in the Club's 144-year history."

It's not the first time the casino has dabbled with English football.

Watford Football Club is also sponsored by Stake.com. Despite being relegated to the Championship, the platform committed to a second year as the official sponsor.

Stake.com also has sponsorship partnerships with celebrities such as Drake and professional sports teams. Boxing Japan and Rugby League Brazil are two franchises.

Stake.com, which was founded in 2017, has grown to become one of the most popular cryptocurrency casino and sports betting sites, offering bitcoin (BTC), Dogecoin (DOGE), EOS (EOS), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tron (TRX).

However, the current sponsorship contract comes at a difficult moment for cryptocurrency exchanges.

Several crypto exchanges have announced personnel reductions in recent weeks, with some going beyond payrolls to save costs.

As the crypto winter bites, platforms are dropping sports sponsorship deals.

While some platforms continue to push into the sports world, others are tightening their belts.

The Los Angeles Angels of the Major League Baseball have reportedly dropped out of a multi-million dollar partnership with prominent crypto exchange FTX, according to the New York Post.

Before slamming the brakes, FTX had been extremely active in the sports sector.

FTX was one of the main crypto exchanges at the Superbowl LVI half-time show in February. FTX is said to have spent $6.5 million for a 30-second commercial, with Crypto.com, eToro, and Coinbase also paying for half-time show airtime.

Another unidentified exchange just backed out of an agreement with the Washington Wizards of the National Basketball Association.

The dramatic shift in the marketplace puts even more focus on Stake.com and its insatiable desire to reach into a hitherto untapped client base through sports.