The popularity of cryptocurrency looks to be extending towards the professional sports arena, drawing a new wave of sponsorship deals. CashBet has launched a new strategic partnership with Premier League football club Arsenal FC ahead of its initial coin offering (ICO) for CashBet Coin.
The incidence of sponsorship deals for these types of exchanges and venues serves as the latest endorsement for the crypto industry, which has gained serious traction in the past twelve months. For CashBet’s purposes, the timing of the deal comes before its ICO and new cryptocurrency, CashBet Coin, which is designed specifically for iGaming. CashBet Coin’s ICO presale will be going live today as of 17:00 GMT.
Over the past few years, sport sponsorships have been popular amongst retail brokers as they are an enticing way to raise brand awareness for the FX, CFDs, binary options, and now cryptocurrency industries – we have seen a multitude of marketing deals signed with football, rugby, and racing teams in Europe.
The popularity of cryptos could represent a changing of the guard, with sports teams instead choosing these venues over FX and binary options providers. In any scenario, the method has proven to be highly successful, as the sponsorships help expose a brand to far more individuals than a publication or even above the line advertising ever could.
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The deal between Arsenal FC and CashBet is one of the first examples of a crypto venue joining forces with a professional football club, and the calibre of Arsenal FC makes this deal notable.
Vinai Venkatesham, Arsenal’s Chief Commercial Officer, commented on the deal: “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.”
The deal will make CashBet Coin Arsenal’s exclusive and official ‘Blockchain Partner’. Furthermore, the agreement will also give the CashBet Coin brand exposure via the placement of in-stadium advertising channels for Arsenal home Premier League games at Emirates Stadium.
“With our ICO for CashBet Coin, we are actively targeting a global, multi-billion dollar marketplace of iGaming content providers, operators and players. We are delighted to do so in partnership with one of world football’s true giants in Arsenal, enabling us to build our brand and engage this audience in a meaningful way,” explained Mike Reaves, CEO and founder of CashBet.
“Designed specifically for iGaming, CashBet Coin will improve the online experience for real money, casino, social, skill-based, eSports and sports betting players through increased trust and transparency, faster payouts, reduced fees and dedicated player protection,” noted Mr. Reaves.