NBA & Bitcoin: How Bitcoin & Basketball Combine
April 14, 2017
NBA and Bitcoin is a natural partnership because of the benefit of the digital currency. Bitcoin makes it easier for fans to connect with a favorite franchise.
The connection between NBA and Bitcoin is not unusual. In fact, the Sacramento Kings opened its doors to Bitcoin back in 2014. There are also several Bitcoin sportsbooks that offers competitive odds for basketball Bitcoin betting.
Bitcoin-friendly NBA franchises
The most notable event between Bitcoin and the organization is when Sacramento Kings announced its acceptance of the digital currency. This might not have been front page material during 2014. However, this move made the NBA the first major sports organization to partner with the popular cryptocurrency.
The Sacramento Kings have been using BitPay to allow customers and fans to buy merchandises and other products of the franchise in its Kings Team Store. This includes tickets to the team’s matches.
Acceptance of Bitcoin is part of the business philosophy of NBA 3.0. The philosophy involves the investment in technology, globalization, and community partnership. Partnering with BitPay to allow people to use Bitcoin in the Kings Team Store is in line with the philosophy.
Sacramento Kings and BitPay
Vivek Ranadive, majority owner of Sacramento Kings, said:
“We are maniacally focused on creating the most seamless experience for our fans in all facets With BitPay, we are able to implement a technology that allows our fans to make Kings-related purchases without physically reaching into their wallets. A major tenet of the NBA 3.0 philosophy is about utilizing technology for the betterment of the fan experience, and this is yet another step in that process.”
Tony Gallippi, co-founder and CEO of Bitpay, said:
“We make it easy for businesses like the Sacramento Kings to accept bitcoin as a form of payment both in-person and online. As the first professional sports team to accept bitcoin, the Sacramento Kings continue to show that they are at the intersection of sports and technology.”
It makes sense for other franchises to also offer the option of Bitcoin payment to its customer at this current time. A majority of the public are now familiar with the cryptocurrency. There are also many Bitcoin exchanges that make it easier for almost anyone to own the digital currency. A future where a LeBron fan could buy his T-shirt in the Cavalier Team Shop with Bitcoin is not far off. There might even be an electronic ticket vendor that lets you pay with Bitcoin through your phone.
Bitcoin NBA bets
Apart from buying NBA merchandises with Bitcoin, it also makes sense to make wagers on NBA matches with the cryptocurrency. There are many major sportsbooks that accept Bitcoin. This includes Nitrogen Sports, 1xBit, and BetOnline.ag. This sportsbook covers all major and minor NBA matches and events.