Arsenal Became The First Club Supported By A Cryptocurrency

Arsenal Became The First Club Supported By A Cryptocurrency

London-based football club Arsenal FC recently made quite a revolutionary sports deal. Arsenal has shaken hands with CashBet Coin. A digital token specifically created for iGaming and is supposedly becoming the main currency on the CashBet online platform.

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London-based football club Arsenal FC recently made quite a revolutionary sports deal. Arsenal has shaken hands with CashBet Coin. A digital token specifically created for iGaming and is supposedly becoming the main currency on the CashBet online platform. Pre-sales in the ICO started this week and the ERC20 token is going live during the initial coin offering.

For the uninitiated, CashBet is an online betting company based in California, USA. On the company’s website, Arsenal players can be seen already. CashBet assumes itself to be the first of its kind platform where visitors can make sporting bets, play skill-based interactive games and visit the online casino.

The recent deal means that visitors to the Emirates Stadium where Arsenal plays its home games will see in-stadium advertisements of CashBet Coin. The English Premier League has enormous TV broadcast coverage of 600 million homes. On average 80 million people watch Premier League matches worldwide. During the 2016-17 season, Arsenal landed on the third place in terms of earnings, just behind the two Manchester rivals – Manchester United and Manchester City.

The club itself has a long and successful history. Arsenal has won the League 13 times and 13 FA Cup trophies. Some analysts believe Arsenal is the most popular football club in China. The southeastern region of the Asian continent has an official online merchandising store that accepts Malaysian Ronggit, Indian Rupees, Thai Baht, Vietnamese Dong and Singaporean Dollars.

The deal between a football club and a cryptocurrency is the first of its kind. It is not something new however to see a gambling company supporting a sports club. But here’s the catch – CashBet is regulated in the United Kingdom but initial coin offerings are not. Furthermore, it was revealed that in 2017 alone $370 million raised through ICOs were lost or stolen.

Fly Emirates, Puma, Gatorade and Vitality Insurance currently sponsor Arsenal FC. Now CashBet is joining the long line of major sponsors and is hoping to benefit from the club’s enormous exposure. According to some reports, Arsenal FC is the club with the fifth largest fan base – 142 million fans worldwide.

The club itself seems to care for its supporters. The official website has Chinese version as well as another official website that targets North American supporters. Additionally, the club’s popularity grows in Asia and Africa.

Now when the cards are on the table we are going to see if ICOs regulations are becoming reality and if other similar partnerships are going to be formed.

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