The Rise Of Crypto Sponsors In Sport
Welcome back to the Chris Farnell sports law blog. Here we bring you the latest sports law news. The UK Government, following their recent “comprehensive review” of gambling laws is considering regulating the use of betting companies in English football, which may include a ban on being the main front-of-shirt sponsors.
This could have a profound impact. Last season, nine of the twenty Premier League clubs had gambling companies as their front-of-shirt sponsor, as well as another six teams in the Championship.
Teams are however already looking elsewhere for sponsors, and these are increasingly coming from the Cryptocurrency sector – A sector which comes with its own set of challenges and concerns.
The world of sponsorship is clearly shifting with the times, with the once popular Gambling, now returned to being thought of as a dirty waste of time having trouble. Betting firms have been identified as redundant after the economic challenges of the Pandemic, with many losing their jobs and not being able to leave the house.
Online gambling has replaced traditional gambling, which has made it clearer how degenerative and damaging it can be. Instead of parents sitting with their children reading a book in the evening, they leave them in front of a mobile phone or IPad while they spend what little money they have on getting their own endorphins sold back to them on the computer.
Betting firms getting the Boot
The Government is set to ban betting firms from sponsoring football shirts following its review of gambling laws. Outlawing front-of-shirt logos of gambling companies is almost certain to be one of the proposals included on a white paper to be published this winter.
A wider ban on betting advertising in sport, including pitchside hoardings and TV commercials, is under consideration but is less likely at this stage. Things are clearly moving in the right direction/
This season, nine of the 20 Premier League clubs have gambling companies as their front-of-shirt sponsor, as well as another six teams in the Championship. Those deals are estimated to be worth a combined £100million a year. We think this is a good move and support this change. There's never any shortage of companies wanting to sponsor football. Visit us soon on the Chris Farnell Instagram page.
Welcome to the Chris Farnell blog. Chris Farnell advises leading Football League Clubs, media agents, and a number of high profile sporting individuals like Roberto Martinez and Tyson Fury. Learn more about Chris Farnell on this page and come back soon for more updates.