Sportsbet.io launches crypto fan fund for Southampton

Crypto-first operator Sportsbet.io has launched a fan fund as part of its commercial sponsorship with Premier League club Southampton.

The Yolo Group brand has donated two bitcoin to the fund which will be used to deliver a series of fan-led initiatives over the coming seasons.

How the funds will be used will be decided by the club’s supporters panel Saints Voice, which will work closely with the club and the operator to determine what projects and initiatives to work on.

The donation via cryptocurrency is a first within elite sports sponsorships. Sportsbet.io said the value of the fund could shift in line with the market to allow for potential greater investment opportunities.

Sportsbet.io confirmed it will underwrite the value of two bitcoin guaranteeing the club a minimum value in the fund.

Helen Edwards, Sportsbet.io head of responsible gambling, said: “As a valued partner of Southampton, it’s incredibly important that we engage with the dedicated Saints fans and support them too, in any way that we can.

“The opportunity to use bitcoin in such an innovative way by setting up this fan fund is incredibly powerful.

“We firmly believe the hype is real and cryptocurrency is here to stay, and are excited to see how the value of the fund could continue to rise, allowing for even greater investments for Saints fans and the wider community,” she added.

In April, Sportsbet.io secured a three-year extension to its existing sponsorship agreement with the Saints which will see the brand continue to serve as the club’s main partner and front-of-shirt sponsor.