Digital currencies are soaring in popularity and sports is the latest market they are seeking to transform (disrupt). Casino operators are already accepting digital currencies such as bitcoin and ethereum in their casinos and sportsbooks. Partnerships between sporting entities and cryptocurrencies are not new. Rory Macdonald got 330 DASH for wearing an Altcoin branded t-shirt in his recent title fight. Arsenal’s deal with Cashbet makes the EPL soccer team the first to have a blockchain partner.
Arsenal Is the First Team in The Top Major Leagues to Secure a Blockchain Partner
Cashbet is now the first cryptocurrency to secure a significant partnership deal with a football team in the top major leagues. Founded in 2012, Cashbet is a gambling-oriented cryptocurrency. Cashbet has plans to conduct an ICO, and its partnership with Arsenal FC will increase the cryptos value significantly.
Mike Reaves, the CEO of Cashbet celebrated the firm’s partnership with Arsenal FC. Reaves termed it as a significant milestone Cashbet has been able to achieve in its pursuit to become a key participant in the iGaming industry. Cashbet is targeting the global billion-dollar industry of iGaming content developers, operators, and gamers. Through the partnership, Cashbet is creating a unique cryptocurrency brand that can interact and engage with its audience in a unique way.
While the deal between Cashbet and Arsenal is a success, it is worth noting that the agreement has come at a time where most cryptocurrencies are facing increased scrutiny. The partnership deal between Arsenal FC and Cashbet is of an unknown value. Through this agreement, Cashbet will assume the role of Arsenal’s official blockchain partner. One big win for Cashbet from the deal is that its ICO will be marketed on the 60,000 seats present at the Emirates Stadium.
Cryptocurrencies are Partnering with Sporting Entities
Partnerships between sporting and cryptocurrency firms are increasingly becoming popular. The driving force behind mainstream applications of cryptocurrencies stems from their increasing global acceptance. Before the Cashbet and Arsenal deal, other cryptocurrency deals involving sports teams had been made. Dogecoin was able to fundraise for the Jamaican bobsled team. Potcoin, on the other hand, is the sponsor of Dennis Rodman’s adventures in North Korea.