eToro Ties Up With Everton FC as ‘Online Trading Partner’
Everton Football Club and eToro have announced a partnership, granting eToro further global exposure through the football clubs marketing assets and a solid presence at Goodison Park – Everton’s stadium. eToro has emerged as one the largest digital asset exchanges, giving customers the option to invest in cryptocurrencies like Bitcoin, Ethereum, and Litecoin, along with regular shares and commodities, August 1, 2019.
Leveraging Everton’s Brand Value
Everton is one of the biggest clubs in England having finished 8th with 54 points in the English Premier League.
The club’s stadium currently has a capacity of nearly 40,000, giving eToro exposure to these many people on a biweekly basis when the team plays at home during the Premier League season.
The utilization of Everton’s marketing channels to propel themselves is a very insightful move from eToro. Their dedicated customer base is mostly in the United States, so this can be seen as a tactical plan to get more U.K. based customers under their wing.
Alan McTavish, commercial director at Everton FC said the club was delighted to welcome eToro as an official partner and looks forward to developing their partnership by bringing blockchain technology into the world of football.
Cryptocurrency companies have been accused of over marketing and under developing in the past. In this case, eToro has built a successful product and on-boarded customers, making it a customer acquisition play to expand in a new market. Initial Coin Offerings (ICOs) were marketing concepts and products that didn’t exist, so there is a stark difference.
FCA on the Lookout
Adoption in the U.K. may see some hindrance coming in the future as rumors of a potential ban make the rounds over social media and news publications.
It is fairly evident that the rules set by the agency have already kicked in as Everton’s announcement is followed by a disclaimer at the bottom that reads “the vast majority of retail client accounts lose money when trading in CFDs”.
The U.K. has been very open-minded for the most part, so the realistic probability of a ban is very low. It is essential for those in the U.K. not to believe these rumors until a government agency offers clarity on this stance.