#Arsenal FC Partner CashBet on Cryptocurrency Sponsorship Deal




Arsenal football club partner Cashbet on Cryptocurrency

Arsenal Football Club becomes the first Premier League club to sign a sponsorship deal with the US #cryptocurrency #CashBet, which will see the club to promote the firm's initial coin offering (ICO) at the 60,000-seat Emirates stadium.


Arsenal FC was named the sixth-wealthiest football club in the world by financial firm Deloitte recently, putting in revenues of $597.1 million in the 2016-17 season that ended this past May. The American-owned team nicknamed the "Bank of England" back in the '20s and 30s' for its high spending ago, is again looking to the future: Arsenal became the first top-tier sports team in the world to forge a cryptocurrency partnership.

The value of the deal was undisclosed, is the first time a major global sporting team has officially partnered with a cryptocurrency firm. It comes as an increasing number of regulators and business leaders express concern about the dangers of consumers risking their savings in unregulated virtual currencies.

A spokesman pointed out that the regulator was planning to "conduct a deeper examination of the fast-paced developments" of ICOs and would take "further regulatory action" if necessary.
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."

CashBet said it was delighted to be able to secure a deal with Arsenal as the firm is actively targeting a global, multibillion-dollar marketplace of i-gaming content providers operator and players.

Trade publication #iGaming Business offers this explanation of how CashBet Coin will be used.
CashBet Coin can be used for payments on any casino application or website powered by CashBet, with player to benefit from access to what the company described as a "greater variety of provably-fair content, reduced transaction costs, and faster payouts."
CashBet, which plans to raise between $40m and $70m from the sale of CashBet Coins tokens in its ICO, uses Arsenal's crest and player's images on its website and the club describes CashBet as its "first official cryptocurrency partner". CashBet Coins will initially be priced at 50 cents and are designed to be used on CashBet's mobile phone gambling apps.

Crytocurrency can be used to gamble -where legal on so called "iGaming " phone apps to play Bingo and slot machine-styled games.


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