CashBet Coin will be launched on 24th January via an Initial Coin Offering (ICO). The cryptocurrency is a utility token that can be used on CashBet-powered iGaming sites and apps.
The partnership will help CashBet Coin build global brand awareness through our extensive digital and social media platforms, and through the creation of bespoke content with our players.
Vinai Venkatesham, Arsenal’s chief commercial officer, said: “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.”
Dr. Mike Reaves, CEO and founder of CashBet, said: “With our ICO for CashBet Coin, we are actively targeting a global, multi-billion dollar marketplace of iGaming content providers, operators and players.
“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.”
But one crypto-currency expert has questioned whether the club is wise to promote what can be a very risky investment.
CashBet is a Californian online gaming business formed in 2012, which is now launching an Initial Coin Offering (ICO). It aims to raise $40m by getting investors to buy CashBet Coins which can then be used to bet on its various online games.