Crypto-centric casino and sports betting platform operator Cloudbet expects the 2022 Champions League Final to become the biggest Bitcoin sports betting event to date due to the global increase in crypto wagering.
Huge Audience Paired with Steady Crypto Betting
The final match of the 2022 Champions League competition this Saturday will feature two of the most popular soccer clubs in the world, Real Madrid and Liverpool, which combined boast millions in fan base across the globe, while audiences for the event are expected to be over 700 million.
“As two of the biggest teams in the world meet in the most-watched club match on the planet, we anticipate the busiest day ever for crypto betting.”Leandro Rossi, Director, Cloudbet
Rossi’s bold statement is supported by numbers from software developer SoftSwiss which suggest the rate of increase of cryptocurrency use in sports betting, 116% for the first quarter of 2022, nearly doubled the 60% rate of growth year-over-year in overall wagering on sports.
“It’s clear the Bitcoin betting boom will continue despite the sector’s setbacks, and that an increasing number of bettors are reaping the benefits of the decentralized blockchain model.”Leandro Rossi, Director, Cloudbet
The bullish mood is also supported by data from Cloudbet, where a steady turnover suggests that the recent slump in the value of cryptocurrencies did not affect the impetus to wager. In the casino vertical, spending is even increasing.
Exponential Growth in Bitcoin Value
Emphasizing the exponential growth in the Bitcoin market since the last time Real Madrid and Liverpool met in a Champions League Final in 2018, Rossi outlined the “tremendous potential returns” the market offers for soccer fans “despite recent fluctuations.”
Currently, Bitcoin is toying with the $30,000 level representing a 250% increase in value as compared to the $8,500 the flagship cryptocurrency was trading at on the day of the 2018 Champions League Final in which Real Madrid beat Liverpool 3-1.
For the biggest soccer event of the year, Cloudbet is offering sports fans and bettors wagers on the full-time result, Asian handicap, and Both Teams to Score accepting a wide range of cryptocurrencies, besides Bitcoin, following an expansion of its payment options list to include 11 new cryptocurrencies earlier in the year.