Sportsbet.io has announced the launch of a first-of-its-kind ‘Crypto Fan Fund’, donating 2 Bitcoin (BTC) to its partner club Southampton FC. The fund will be used to deliver a series of fan-led initiatives across the 2021-22 season, and beyond.

Crypto Fan Fund

Throughout the season, the fund will be used to support the causes that matter most to fans. All decisions on how and where the fund is used will be made by Saints Voice, Southampton FC’s long-standing supporter panel, who will work closely with the club and with Sportsbet.io to determine how to make the greatest impact.

The donation of cryptocurrency in this way is a major first within elite sports partnerships. Unlike traditional fiat donations, the value of the fund can shift and increase in line with the market, allowing for the potential of greater investments in future seasons. Sportsbet.io will underwrite the fund for the value of 2BTC at the point of donation, guaranteeing the club access to at least the minimum value of the fund, plus any additional profits accrued from deflation.

Helen Edwards, Head of Responsible Gambling at Sportsbet.io stated:

“Supporters are the lifeblood of the game and continue to demonstrate their unrivaled passion and loyalty every matchday. As a valued partner of Southampton Football Club, 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.”

Potential uses of the fund could include improvements to the matchday experience through providing much-needed assistance to local venues impacted by COVID-19. Saints Voice can also decide to retain, or ‘HODL’, a portion of the fund to invest in future seasons, to capitalize on any increase in value.

Sarah Batters, Director of Marketing & Partnerships at Southampton FC stated:

“Covid had a major impact on our fans’ experience of a matchday last season. Thankfully things are getting back to normal and almost all our fans have returned, so we are delighted to offer our supporters the opportunity to make their match experience even better, this season and beyond.

Working in close collaboration with the fantastic representatives on our Saints Voice panel, with Sportsbet.io’s ‘Crypto Fan Fund’ we hope to build a closer bond with our supporters by tackling some of the causes that they consider most crucial and look forward to seeing how they ultimately choose to allocate this fund.”

The donation consolidates Sportsbet.io’s ongoing commitment as the main club sponsor of Southampton Football Club, and as a leader in the crypto community. The initiative is part of Sportsbet.io‘s ‘Believe the Hype’ campaign, encouraging Saints to believe the hype around their club, and around cryptocurrency.

Bitcoin today is still one of the hottest cryptocurrencies on the market and is definitely one of the most talked-about virtual currencies. Also, Bitcoin’s market capitalization has surpassed $650. 07 billion.

Needless to say, the crypto market is booming, and Bitcoin is the central aspect of this growth. If you’re new to BTC transactions and wondering how to get started because all this is too confusing for you, in this article, we explain in more detail what BTC transactions are.

Bitcoin – Virtual Currency

Bitcoin is a decentralized digital currency that was developed as a means to transfer money over the Internet without an intermediary. It operates differently from traditional currencies because it is based on the blockchain network.

Moreover, this is a decentralized, peer-to-peer database where the BTC transactions are added to a so-called blocks of transactions, which are linked via cryptography in the network.

After a BTC transaction is recorded in the system, it’s not possible for the details of the transaction to be changed by any user. This makes every BTC transaction irreversible in the network.

Plus, there is complete transparency regarding the information about the transactions in the network in order to ensure there is total security in the network. Otherwise, the identity of the users is confidential.

Elements of BTC Transactions

The main elements of every BTC transaction are a transaction output, input, and designated amount. The input is the BTC address which is the address of the Bitcoin wallet from which the transaction was initiated. The second part is the output, specifically the other Bitcoin address of the receiver.

It should be noted that for each BTC transaction is necessary for both parties to have their own Bitcoin wallets. A bitcoin wallet is a software where the Bitcoin tokens are stored, and each Bitcoin wallet has its own set of private and public keys, which are required for any BTC transaction.

For example, if you want to trade on an online trading site, it’s important for you to invest in a good BTC wallet. There are great automated trading sites like BitcoinProfit.org where you can invest in BTC, and you can also exchange your BTC for other cryptocurrencies. If you want to create an account, you only need $250.

The Bitcoin address is actually a hashed version of your public key. Moreover, the private key is seen as a unique string of characters that are paired with your public key, and the private key is necessary for you to sign your BTC transaction.

The Blockchain Network

When you want to make a BTC transaction and send BTC to another user, your Bitcoin wallet will create a transaction output which is basically the address of the user you want to send BTC to. After you have initiated the transaction on the blockchain network, the transaction will be recorded on the system, and the information regarding your Bitcoin address will be registered as a transaction input while the transaction output will be the person’s Bitcoin address.

The transaction is processed by the miners on the network. When you want to make a transaction, you also need to take into account the transaction fees that you will need to pay in order for your BTC transaction to be completed on the network.

Amount of BTC
When it comes to the amount of BTC that you can send, you can actually send satoshis via the network. But obviously, you cannot send one satoshi, as it is only 100 millionth of one Bitcoin. The minimal number of BTC tokens that you can send over the network is actually 546 Satoshis. The name of the smallest unit of a Bitcoin comes from the name of Bitcoin’s creator Satoshi Nakamoto.

Cloudbet has unveiled another bitcoin betting world first, with the launch of crypto horse racing in time for the 2021 Melbourne Cup on Tuesday.

Customers of the pioneering crypto casino can now bet on horses with bitcoin and 12 other cryptocurrencies on the biggest races on the international calendar, including Australia’s top event.

“The Melbourne Cup is not only one of the most famous horse races in the world; but one that goes beyond sport into popular culture in Australia and abroad,” a Cloudbet spokesperson said. “This race might stop the nation, but it won’t stop us bringing the crypto advantage of better margins, lower transaction costs and faster withdrawals to racing fans.”

Last year’s Melbourne Cup winner was outsider Twilight’s Payment, whose post-to-post victory was a bust for punters everywhere. This year, the horse is third in the odds to complete back-to-back victories, but the markets have made local hero Incentivize the resounding favourite, as he has taken Australian racing by storm over the last few months including winning the prestigious Caulfield Cup.

International raider Spanish Mission is thought to be the main challenger in the 24-strong field. In something of a preview of this year’s Ashes in cricket, the racing world is eager to find out if the English horse can go down under and wrest the crown from the Aussie favourite.

Horse racing is the latest in a series of new features and upgrades launched by Cloudbet in recent months. Founded in 2013, the crypto operator now offers esports, political betting, social bet sharing and fully native sportsbooks in 17 languages for players around the world.

The new feature makes Cloudbet the sole crypto betting platform offering odds on the traditional “sport of kings.”