I ran across this article on Vox.com. I have featured an excerpt from Terry Nguyen’s article about the increasing role of Cryptocurrency in the sports betting of the Super Bowl! This article is quite interesting and substantial. There’s a lot of information and I highly recommend that you read through my excerpt and jump to Nguyen’s article to read the entire piece. You might want to read it a couple of times because the details are substantial. Cryptocurrency might be the latest and hottest trend, but there are dangers in this new trend!
The winner of this year’s Super Bowl: Money
By Terry Nguyen
Welcome to the Money Bowl. At least three sports betting sites and three crypto platforms have plans to run ads on Sunday.
Photo Brian by Rothmuller/Icon Sportswire via Getty Images
The Super Bowl brings together two of America’s most popular pastimes: football and consumerism. Viewers are accustomed to the advertising presence of the usual Super Bowl suspects — the auto manufacturers, beer brands, snack foods, and popular tech companies. Some commercials airing during Sunday’s game between the Cincinnati Bengals and the Los Angeles Rams, however, are more than just product placements. They are attempts at persuading viewers to seriously consider cryptocurrency investments and sports betting, activities that have to do with money but with a whole lot more financial risk involved.
The 2022 Super Bowl is already being dubbed the “Crypto Bowl” based on the number of crypto advertisers vying for viewers’ attention and trust. Not only that, the game will be held at a Southern California stadium owned by SoFi, a financial services company that offers cryptocurrency trading with Coinbase. A more inclusive title, perhaps, might be the “Money Bowl.” At least three sports betting platforms, including Caesars Sportsbook, DraftKings, and FanDuel, plan to run ads on Sunday. Sports betting might be an emerging industry as more and more states legalize the activity, but its nascent popularity, alongside cryptocurrency, is part of a growing trend.
Money, as a concept, feels increasingly gamified, which effectively blurs “the boundaries between what constitutes investing and what constitutes entertainment,” according to Vox’s Rebecca Jennings. And the prevalence of these companies at the Big Game suggests that it might be more profitable to classify themselves as the latter.
While the Super Bowl is still one of the most-watched television events of the year, its viewership over the past decade has steadily declined. Just 96.4 million people tuned in last year, compared to 114 million in 2015. The event’s audience is also skewing older. Fewer people between the ages of 18 and 49, a key advertising demographic, are watching every year, and the NFL also seems to be losing out on casual viewers.
That hasn’t affected the prices for mid-game ads. In fact, the cost of a television spot is at record highs, with companies forking out millions of dollars for a 30-second to minute-long spot.
SportsHandle, a blog that covers sports betting regulation in the US, reported that the NFL has limited the number of sportsbooks advertisements to six this season, a decision that likely put a premium on the few available spots. Caesars Sportsbook will run multiple ads over the weekend, including one during the Super Bowl’s second quarter that will feature the Mannings, the football family that has produced a lineage of quarterback players. FanDuel has launched a Super Bowl promo — bet $5 to potentially win $280 — to draw in new players, especially those in states where sports betting was recently legalized. DraftKings, which had a spot in the 2021 Super Bowl, will run two 15-second ads and offer viewers a chance to bet for free during the fourth quarter.
Some of America’s largest cryptocurrency companies — platforms where users can buy and sell crypto assets — are also paying top dollar for a brief feature. These services are ultimately competing against one another for customers, but the influx of crypto-related ads, seen collectively over the course of a three-hour broadcast, might be enough to develop a mainstream interest in the once-niche financial asset.
Crypto executives see the Super Bowl as a high-profile opportunity to introduce the masses to trading digital currencies. Despite crypto’s volatile history, the sector has only grown since bitcoin, the world’s first cryptocurrency, was developed in 2009. Many payment processing services, from Square to PayPal, have begun integrating cryptocurrency capabilities into their platforms. Yet, cryptocurrencies are still considered risky assets to invest in, as there is not much federal regulation surrounding consumer protection and oversight.
You can see the entire article at Vox.com via this link:
https://www.vox.com/the-goods/22925225/super-bowl-ads-money-crypto-sports-betting
Please check out the rest of this article. The complexity of cryptocurrencies is nothing to ignore.
Read the article from David Rosenthal about his EE80 Talk! It’s enlightening!
If you would like more critical evaluations about cryptocurrencies, check out David Rosenthal’s post about his EE380 Talk. Rosenthal’s content discusses cryptocurrencies, bit coin, thefts and nasty situations.
Stevie Wilson
LA-Story.com
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