Crypto.com has spent $213 million on sports deals in the ongoing season, substantially more than the next spender, Coinbase, at $80 million, according to a report by Sportquake. OKX and Gate.io spent $71 million and $53 million, respectively, while Binance spent $31 million.
Crypto Exchanges Have Deep Pockets
In total, the top ten crypto exchanges are spending over $539 million annually across global sports.
Industry-wide, pure-play crypto exchanges spent a total of $565 million on sports in the 2024–25 season. Only $117 million was spent on US-based sports teams, with the remainder going to non-US teams. This marks a 20 per cent increase in spending from the previous season.
However, the figure remains below the 2022–23 peak of $685 million.
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“2025/26 spend is expected to return towards the 2022/23 peak, driven by a combination of incumbent brands spending more and a new wave of first-time spenders,” the report stated.
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When it comes to individual sports, football received the largest share. Forty-three per cent of all spending was made on football sponsorships, while 28 per cent went to Formula One. Crypto.com’s high spending was also boosted by its sponsorship deal with the Champions League.
According to the report, crypto companies signed more than 20 new football sponsorship deals worth over $130 million annually in the current season.
An Incoming Opportunity in English Football
Football sponsorships remain a preferred marketing avenue for other retail trading platforms as well. FinanceMagnates.com earlier reported that Robinhood spent $25.9 million on sports deals in the current season, followed by Swissquote at $15 million and eToro at $10.7 million.
Meanwhile, crypto and retail trading brands could see more opportunities in English football. The UK government has banned betting firms from becoming the main shirt sponsor of Premier League teams starting next season. Currently, 11 out of 20 Premier League teams have betting brands as their main shirt sponsors, and those slots will become available to non-betting brands next season.
Read more: Football Sponsorship Shake-Up – CFDs Brokers Could Score as Betting Brands Get Benched
Interestingly, crypto firms also prefer consistent branding in football, with 37 per cent of deals involving shirt or sleeve sponsorships. Additionally, 59 per cent of all new sports sponsorship deals by crypto exchanges in the 2024–25 season were in football.
“Premier League front-of-shirt sponsorship is a thinly traded marketplace, with only four to five teams per season,” Matt House, CEO of Sportquake, recently told FinanceMagnates.com. “So, with availability doubling and the biggest buyer exiting, simple supply and demand economics suggest the market is likely to be softer year-on-year, presenting a buying opportunity for non-betting brands.”
