Cloudbet projects record levels of cryptocurrency betting for this year’s European Champions League final, played between Real Madrid (ESP) and Liverpool (ING). This is despite a current drop in the value of cryptocurrencies such as Bitcoin. The decision will be played this Saturday, May 28, at the Stade de France in Paris.
The Champions League final is expected to have even higher view numbers than last year’s event, when it attracted over 700 million views worldwide, according to Front Office Sports.
Provider Softswiss has seen a 117% increase for the use of cryptocurrencies in sports betting from 2022, compared to a 60% growth in the sports betting industry overall.
Despite a drop in the value of cryptocurrencies, data from Cloudbet suggests that players’ desire to gamble with cryptocurrencies has not diminished. Cryptocurrency trading volume in the sports betting market has stabilized, while cryptocurrency casino spending is increasing, according to Cloudbet.
Furthermore, Bitcoin is still up 250% from the Champions League final in 2018, when Real Madrid and Liverpool also met. At the time, the cryptocurrency was trading at just $8,500.
Cloudbet director projects impact of decision on cryptocurrency betting market
Cloudbet managing director Leandro Rossi said: “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 cryptocurrency betting.”
“It is clear that the Bitcoin betting boom will continue despite the difficulties in the industry and that an increasing number of bettors are reaping the benefits of the decentralized blockchain model.”
“The variety of Champions League markets available on Cloudbet represents a tangible opportunity for users to increase the size of their respective Bitcoin investments.”
“In the four years since Liverpool’s last Champions League final against Real, the Bitcoin market has grown exponentially, offering tremendous potential returns for football fans despite recent market fluctuations,” concluded Rossi.
