Mia Gardner | 06 Feb 2018
The initial coin offering (ICO) will be the first step towards the development of the very first platform set to offer a 100% crypto-ready service to its users. Coins have been available at the discounted price from January 24th, and will go on public sale in March.
Users will be able to use CashBet Coins at any online casino site that is powered by CashBet, with the proposed benefits expected to be faster pay-outs, reduced transaction costs and a larger content-variety.
Chief executive and founder of CashBet, Mike Reaves, is full of praise for the support that the initiative has been enjoying from the business community thus far, saying that CashBet’s crypto solution is bound to do the confidence proud by delivering a player experience that is a notch above the rest.
Shortly after CashBet Coins went on sale on Wednesday, the announcement was made that hugely popular UK soccer team Arsenal had agreed to become its official blockchain partner. The agreement will yield many benefits in terms of advertising and branding for CashBet, with the CashBet Coin expected to make a star appearance at all Arsenal home games at the Emirates Stadium.
CashBet is the official host of no less than 450 different mobile games and has reported a 770 percent player increase since 2015.
According to Reaves, the goal is to target a multi-billion dollar market of iGaming content providers, players and operators. Reaves said that the team at CashBet was delighted to have the opportunity to do so with the help of one of the true giants in world soccer and that it was a truly unique opportunity to build and extend the CashBet brand.
Cryptocurrencies have slowly but surely made their way into the main-stream market over the last 12 months, and deals such as the CashBet/Arsenal partnership suggests that the forward progress is far from being over.
Despite a lot of criticism from certain avenues regarding the volatility of cryptocurrencies, the concept seems to be enjoying a lot of support yet and after a year it’s pretty safe to assume that it isn’t just another passing phase.
Arsenal’s chief commercial officer, Vinai Venkatesham, certainly agrees, saying that Arsenal is excited to be partnering up with CashBet in their newest endeavour.