The Arsenal Football team of the English Premier League has signed a cooperation agreement with Cashbet, describing itself as a special iGaming cryptocurrency platform, according to Freedman Club.
The partnership has become an unprecedented phenomenon: a sports organization has concluded the deal with a cryptocurrency platform. A new digital asset called Cashbet Coin will be promoted by Arsenal at the Emirates home stadium (London). At the same time, the company will be able to use the team’s brand in its own promotions.
Vinai Venkatesham, Arsenal's chief commercial officer, notes that the club is delighted of new partnership relations.
Mike Reeves, CEO & Founder at Cashbet, is also glad to sign the agreement: “We are happy to cooperate with one of the global football giants. It will allow us to develop our team and attract new customers.”
The financial aspect of the deal remains undisclosed. What is known is that Cashbet receives a status of Blockchain Official Partner and ICO advertising at the stadium holding 60 000 people.
Cashbet was founded in 2012 as a blockchain-based online gambling project. The company is going to raise $40–70 million during the ICO that has been launched on January 24 and will last until February 20.
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