Bitcoin and Sports; How They’re Coming Together
Recently, The Royal & Ancient Golf Club of St. Andrews (R&A), the ruling authority of golf worldwide apart from North America has implemented a ruling that states that all UK golf courses must legally accept payment in Bitcoin, or potentially face fines. As Bitcoin has rapidly emerged on the scene as a leading digital currency, this move is in anticipation of its use becoming more commonplace.
With golf growing in popularity among the millennial generation, the R&A was keen to make the use of cryptocurrency accessible. They warned golf courses nationwide that if they hadn’t already set up a Bitcoin payment system, they should as soon as possible.
According to R&A officials, it is very simple to convert existing payment systems, converting existing Java-based e-commerce systems to one that “integrates an API that can be used with a Bitcoin payment processing provider and is easily achievable. The system can then be linked to an app that generates a QR code to line seamlessly to a golf club’s unique blockchain.
The R&A is working to educate long-standing golf clubs with regard to the benefits of redesigning their payment platforms to accept Bitcoin, as it is set up to become a standard for payments for goods and services. With the well-received social media campaign #TeeingUpTheCrypto, the R&A has managed to generate awareness with many clubs choosing to take the lead.
The online portal Go Play Golf offers a gift card redeemable at over 5,000 golf courses nationwide, from local courses to world-class destinations. The card can also be used for over 100,000 items of golf equipment, accessories, or supplies.
The hotel continues to base its room rates and commission payments to agents on Bermuda dollars, which are then converted to the Bitcoin market rate when the guest’s checkout using the cryptocurrency.
According to the resort's owner, the cost of the Bitcoin transaction is currently just pennies compared to the traditional 3% charged by credit card companies. However, they add that as the currency stabilizes the travel companies would be wise to consider using cryptocurrencies, and not just for their potential to reduce transaction costs. They recognize the fact that there is an entire culture now emerging around cryptocurrency and making the move will help to access that market.
About the Author:
Jordan Fuller is a retired golfer who continued his passion for it by mentoring, coaching, and writing. He writes about golf tips and reviews on his site, https://www.golfinfluence.com
Image courtesy of CCN
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