New iGaming Cryptocurrency Partners with Top Premier League Side
Arsenal football club has recently announced an agreed partnership with CashBet Coin, a cryptocurrency and blockchain provider designed for online casinos.
The Premier League side has enjoyed a fruitful casino and sports betting partnerships with Betfair and 12Bet in the past, however, CashBet Coin is the club’s first official crypto-partner. The deal is set to help CashBet grow its global brand awareness through the creation of unique content with the Arsenal players that will be shared and distributed via the football team’s digital and social media channels.
Speaking at the press announcement on Wednesday, Arsenal’s chief commercial officer Vinai Venkatesham spoke of his excitement to be working with the cryptocurrency provider.
We are pleased to welcome CashBet Coin as our partner. We are looking forward to working with CashBet Coin as they launch their new cryptocurrency. – Vinai Venkatesham, Chief Commercial Officer, Arsenal Holdings PLC
The cryptocurrency is a utility token that can be used to fund private accounts at different online casinos and sports betting companies. The partnership announcement comes on the back of CashBet launching an Initial Coin Offering (ICO) which is a fundraising mechanism for raising capital. Once the fundraising target is met, investors will be granted functional currency tokens which can be used for online gambling.
Whilst the use of cryptocurrency in the gambling industry is still in its infancy, the cryptocurrency provider aims to solve many issues with the current payment systems for casino, eSports, lottery and sports betting players.
Utilising blockchain technology, CashBet aims to build trust, increase speed and reduce transaction costs. The provider’s public ICO is set to end on April 27th, 2018. It will be interesting to see how the market responds and whether or not we will see operators and players flock to incorporate the crypto-supported iGaming platform into their everyday gaming use.
The CEO and founder of CashBet Coin, Dr Mike Reaves spoke confidently of the provider’s ability to compete within the competitive industry.
With our ICO for CashBet Coin, we are actively targeting a global, multi-billion dollar marketplace of iGaming content providers, operators and players. – Dr Mike Reaves, CEO & Founder, CashBet Coin