Arsenal have signed a sponsorship deal with United States cryptocurrency "CashBet", becoming the first major global sports team to engage in such a partnership. "We are looking forward to working with CashBet Coin as they launch their new cryptocurrency", Venkatesham said in a club release. This method of investment allows for the rapid accrual of starter funds, as well as generating interest in the new cryptocurrency and the gaming system it will be supporting.
The developers of newly issued CashBet Coin have designed it to fit nice and well on the iGaming shelf.
"The introduction of CashBet Coin will enable operators to solve the biggest problems facing crypto casinos today: speed, trust, and cost".
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Integrating blockchain into the CashBet platform will open new markets by "democratizing access" for a new group of users now underserved by the banks, he continued.
Building on this, Mike Reaves, chief executive and co-founder of CashBet, said: "We are thrilled by the business and cryptocurrency community's recent support of CashBet's blockchain integration and upcoming ICO".
The ICO pre-sale is scheduled to begin on January 24, 2018 at 5:00PM GMT and close on February 20th. Hundreds of new coins have been offered for sale to the public.
A total of 430 million CBC tokens will be issued by the CashBet team, with a conversion rate of 1 CBC = $0.50.
CashBet Coin (CBC) is the brainchild of the CashBet gambling platform.