Cloudbet expects record crypto betting for Champions League Final
Cloudbet has projected record levels for betting using cryptocurrencies for this year’s Champions League Final.
This comes despite a current slump in the value of cryptocurrencies such as Bitcoin.
The Champions League Final is expected to garner even greater viewing figures than last year’s event, which attracted over 700 million views worldwide according to Front Office Sports.
Taking place on 28 May at the Stade de France, the final sees historic sides Liverpool and Real Madrid go head-to-head in a hotly anticipated tie for sportsbooks.
Supplier Softswiss recorded a 117% increase year-on-year for cryptocurrency use in sports betting as of 2022, compared to a 60% growth in the sports betting industry overall.
What’s more, despite a slump in the worth of cryptocurrencies, Cloudbet’s data suggests players’ desire to bet with crypto has not subsided. Sports betting crypto turnover has steadied, while crypto spending in casinos is increasing, according to Cloudbet.
Moreover, Bitcoin is still up over 250% from Real Madrid’s last Champions League Final clash with Liverpool in 2018, when the crypto coin was trading at just $8,500.
Cloudbet’s 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 crypto betting.
“It is clear that the Bitcoin betting boom will continue despite the sector’s setbacks, and that an increasing number of bettors are reaping the benefits of the decentralised blockchain model.
“The array of Champions League markets available at Cloudbet represents a tangible opportunity for users to grow 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 soccer fans despite recent market fluctuations.”