CashBet announced on Wednesday that it has signed a sponsorship deal with Premier League football club Arsenal FC ahead of the Initial Coin Offering (ICO) of its new cryptocurrency, CashBet Coin designed specifically for its iGaming platform.
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.
Arsenal’s chief commercial officer
Under the partnership, CashBet Coin will be advertised at Arsenal’s Emirates Stadium, and CashBet can use Arsenal’s brand to promote the new tokens.
According to its website, California-based CashBet sells software that helps gaming companies accept bets using cryptocurrencies. CashBet plans to raise $40 million to $70 million in a sale of CashBet Coins.
The ICO presale started on January 24, 2018 at 5:00PM GMT and will end on February 20 at 5:00PM GMT, followed by the public sale beginning on March 20 at 5:00PM GMT and continuing until April 27 at 5:00PM GMT.
CashBet will issue 430,000,000 CashBet Coin tokens. Each coin is initially priced at 50 U.S. cents and meant to be used on CashBet’s gaming sites and mobile apps.