For many niche sports, embracing the changes that other areas of the market have found success in is one of the clearest ways to move with the times. Over a decade and a half ago, we witnessed just how influential cryptocurrency and blockchain were becoming in the world of betting.
While Bitcoin was making inroads online, it wasn’t really until the introduction of the innovative digital asset as a payment method in the gambling market that we first saw its crossover potential. Today, we’re going to examine how this ethos has created a new foundation for the market to flourish, with combat sports emerging as the frontier of the crypto betting landscape.
Bitcoin Casinos – The Big Bang Moment
Cryptocurrency casinos are commonplace in the modern gambling market; however, when they first emerged, it was a gamble for many platforms that were integrating digital assets and blockchain technology into their websites and apps. Yes, it had shown great promise, but in the early 2010s, it lacked the notoriety, visibility, or credibility in conventional finance to set the betting world on fire.
However, casino gamers quickly warmed to the idea of blockchain and digital assets, and within a few years, Bitcoin became one of the fastest-growing assets in the casino gaming world. While it has had its ups and downs since then, the general trajectory has been positive.
Those who play at the Thunderpick bitcoin casino and have a knowledge of how the industry looked in its more formative years will understand just how much this niche has transformed the betting world over the last decade.
There’s now a litany of Bitcoin casinos in the market, and as the world of traditional finance and investing climbs on board with the idea of crypto, it is those casinos and broader betting providers that initially jumped on board that have found themselves yielding the best returns.
Cryptocurrency captures the essence of this new market, while providing a convenient, secure, and transparent way for people to withdraw their winnings and deposit their funds. However, this is simply from a user perspective; the changes have been so profound that many gambling platforms are now dealing with an entirely new market dynamic across casino gaming and sports betting.
Digital Betting – Spearheading A New Look Market
It’s no secret that the betting market has been fuelled primarily by the global digital audience. We’ve seen how mobile gaming has become an integral part of the industry, and how social media now plays a vital role in tapping into a new, contemporary audience and has created some of the most impactful marketing strategies over the decade thus far.
The rise of esports has shown just how far a niche can go in sports and sports betting, especially when marketing ideas are executed properly. As you can see in the link below, social media is the new battleground for niche sports marketing.
Onboarding people via social media helps open the broader market to betting platforms aligned with these events, a tactic similar to what we have seen in combat sports. In the modern boxing and UFC market, even the biggest PPV events and highlights are available on YouTube within hours of their events.
Betting On Contemporary Combat Sports
Given the direct one-on-one nature of boxing and UFC, bettors will investigate different angles before placing a punt. As someone who has watched combat sports for decades and has seen the evolution from digital platforms to mobile betting to cryptocurrency, this has shaped the way the market operates.
Once we combine it with the fact that combat sports have gone from the periphery of cable TV to PPV, and now to streaming services and giants like Netflix, which recently picked up the Mike Tyson vs. Jake Paul farce.
The changing face of combat sports has legitimized YouTubers like Jake Paul, whose enormous social media reach mostly attracts an audience that does not understand combat sports.
The novelty and unconventional nature of influencing boxing have meant that legitimate undisputed heavyweight world championship rematches, such as Usyk vs Joshua, are overlooked and dwarfed in viewership by nonsense crossover bouts.
However, this is a dynamic that the world of crypto betting has risen to. Many platforms now offer bets on crossovers, legitimate boxing matches, UFC title fights, and even sports theatre like the WWE, something unheard of in the early days of online betting.
Looking To The Future
It’s hard to say at this point whether cryptocurrency will play a significant role in reshaping the world of combat sports betting. While the early signs are promising, we have seen how the global market can shift quickly in response to new developments.
However, with many combat sports athletes partnering with crypto sports betting platforms, and a significant amount of younger combat sports fans turning to cryptocurrency investments rather than traditional markets, there are plenty of reasons for those in the industry to be optimistic.
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