Tag: crypto casino

Everton FC Inks Partnership with Crypto Casino Stake.com

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Everton FC, an English Premier League team, has recently struck a multi-year agreement with the online casino and sports betting website Stake.com. This cooperation is yet another example of a crypto-sports collaboration as the sector continues to expand across the globe.

As expected of man crypto venture, the figures floated around have been nothing short of mind-blowing. The sponsorship agreement with the Australian casino is reportedly “the highest value front-of-shirt deal in the club’s 144-year history.” However, the specific sponsorship value has not yet been revealed.

In light of the recent developments, Everton’s Chief Executive Officer, Professor Denise Berrett-Baxendale, said that Stake.com is an ambitious organization with excellent expansion ambitions. He further noted that the company’s employees are extremely thrilled to be collaborating with Stake.com at this point in the company’s development.

He also praised his staff for the outstanding progress they have achieved over the last several months and their relentless effort to clinch the partnership contract that is the largest in the club’s entire history.

Stake.com’s History

Stake.com is recognized as one of the most successful operators and largest brands in the gaming and sports betting industries despite just having been established in 2017. As a result of its rapid growth, it now processes more than 80 billion transactions each year and has more than five million registered customers. As part of its extensive worldwide sponsorship portfolio, Stake.com is happy to expand its partnerships with a broad range of well-known athletes, celebrities, and organizations.

Stake.com is a privately held company with over 200 employees located in a variety of different legal jurisdictions. The organization does its business in the United Kingdom under the domain name Stake.uk.com and is licensed to do so by the Gambling Commission under the name TGP Europe Limited.

This agreement adds another layer of depth to Stake.com’s already vast global sports sponsorship portfolio. That already includes relationships with the UFC, soccer icon Sergio Aguero, and English football team Watford FC, in addition to worldwide multi-platinum musicians.

 A Few Setbacks

Currently, the UK is considering gaming reform, which might have an impact on the agreement. A blanket ban on betting firms giving significant shirt sponsorship was seriously under consideration. The United Kingdom government has, however, chosen to defer plans to prevent gambling corporations from sponsoring the jerseys of English football teams.

There appears to be some fan backlash, though. Over 20,000 individuals have signed a petition condemning Everton’s record sponsorship arrangement with Stake.com.

Venezuela Pushes Petro With Launch of Crypto-Only Casino

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Venezuela, the very first country on the planet to launch its own national digital currency, has been trying to get Petro, its state-sanctioned digital currency off the ground for quite some time now. The digital currency was primarily conceptualized as a way for the country to escape United Sanctions and it was hoped to be the ultimate solution to the country’s woes in that regard.

However, everything did not go as smoothly as initially expected with the most recent effort to push adoption of Petro being the launch of a crypto-only casino.

Capitalizing on The Gambling Industry

Recently, Nikolas Maduro, the president of Venezuela, announced plans for an upcoming casino at the Hotel Humboldt in the Ávila National Park. This would be a special project for the country and the world of crypto as it would be the first retail casino in the world to operate exclusively using crypto. At the casino, everyone will be required to use Petros (PTS).

The casino’s customers will, therefore, need to exchange their fiat currencies or digital currencies into PTR. According to the president, the funds from the casino will be used to fund education and healthcare in the country.

As expected, this was a rather unexpected move especially considering the fact that it is a total turn around for the country where gambling was completely banned back in 2011. Legal and regulated gambling in Venezuela essentially went extinct after the ban.

Previous Efforts

Venezuela officially launched in February 2018 as an oil-backed digital currency. Unfortunately, the digital currency has not been able to attract much interest since its launch because of the purpose of its creation – that is, circumventing US sanctions. To make the situation even worse, a number of risk rating sites have labeled it as a scam.

In an effort to improve the standings of the digital currency, the president has on a previous occasion announced that millions of barrels of oil would be sold for PTR.

Will It Work?

President Maduro and his government are quite aggressive about getting PTR off the ground. While it can be hard to tell what these efforts will amount to in the long term, it is safe to say that they may just have a chance. The gambling industry is a great way to boost crypto adoption and this can be seen across the industry.

Still, lots of people still prefer Bolivars and dollars for other transactions beyond gambling. That said, it might take a little longer for things to turn out the way that President Maduro is hoping they will. Still, it remains a significant development in the worlds of crypto and gambling.