Tuesday, 23 July, 2019

Arsenal secures Blockchain partner CashBet Coin, a gaming cryptocurrency

Arsenal Signs Up to Promote Cryptocurrency in Partnership With CashBet Arsenal secures Blockchain partner CashBet Coin, a gaming cryptocurrency
Shannon Reynolds | 25 January, 2018, 18:39

Arsenal's Chief Commercial Officer, Vinai Venkatesham, said the North London club was "looking forward to working with CashBet Coin as they launch their new cryptocurrency".

By partnering with a cryptocurrency issuer, Arsenal should be able to capitalize on the digital coin sector buzz.

The agreement will give the CashBet Coin brand in-stadium advertising channels for Arsenal home Premier League games.

According to its website, CashBet sells software that helps gaming companies accept bets using cryptocurrencies.

CashBet Coin, due to be launched on January 24, the same day as the partnership was announced, will hope to benefit from the extensive reach Arsenal have as a football club supported all over the world.

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The new cryptocurrency can be used to play CashBet games online and on mobile apps.

Founded in 2012 and headquartered in California, CashBet says it wants to become the "undisputed leader" in the crypto-gambling market. It wants to raise $40m (£28m) through an Initial Coin Offering (ICO) aimed at investors.

Regulators have called the investment mania a unsafe bubble, and said ICOs are "highly speculative" with investors putting their entire capital at risk. "Cryptocurrencies are less regulated than regular betting shops and it's a lot harder to get actual pounds back out again", Gerard told the BBC. For CashBet, the partnership clearly makes sense as Arsenal is one of the best known football brands in the world.

With our ICO, we are actively targeting a global, multi-billion dollar marketplace of iGaming content providers, operators, and players.

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