Cryptocurrency CashBet Coin Announces Sponsorship Deal With Arsenal Football Clubbr>
iGaming platform provider CashBet has teamed with Premier League football club Arsenal FC to promote the firm’s own cryptocurrency, CashBet Coin, at Arsenal’s home games. The deal is claimed to be the first collaboration between a major football club and a cryptocurrency provider.
Founded in 2012 by gaming industry veterans, CashBet is used by 8 operators to run over 450 games worldwide. CashBet is licensed by the Alderney Gambling Control Commission and the UK Gambling Commission. It offers a software solution that enables operators to run a legal iGaming business end-to-end. The enterprise-grade platform is highly scalable, flexible and customizable to an operator’s needs, with unified back office support for mobile, tablet, and desktop devices.
CashBet is gearing up towards an initial coin offering (ICO) that is set up to raise the funds that the company requires to develop the “only mobile-first platform for real-money, social, and skill-based interactive gaming.”
“The introduction of CashBet Coin will enable operators to solve the biggest problems facing crypto casinos today: speed, trust, and cost,” said CashBet CEO and founder Mike Reaves. “Integrating blockchain technology into the CashBet core iGaming stack will open new markets by democratizing access to world-class entertainment for a new group of players currently underserved by the centralized banking establishment. Additionally, the associated technology initiative will be far more scalable and cost-efficient on a per-transaction basis than current blockchain-based casino software.”
The deal with Arsenal FC will see CashBet’s new token being advertised at Arsenal’s Premier League home games at the Emirates Stadium in London, while CashBet can use the Arsenal brand across its ICO promotions. CashBet plans to raise between $40 million–$70 million. The ICO presale started on January 24 and will end on February 20. It will be followed by the public sale beginning on March 20 and continuing until April 27.
“With our ICO for CashBet Coin, we are actively targeting a global, multi-billion dollar marketplace of iGaming content providers, operators and players,” said Reaves. “We are delighted to do so in partnership with one of world football’s true giants in Arsenal, enabling us to build our brand and engage this audience in a meaningful way.”