While CashBet says it is regulated by the UK Gambling Commission and the Alderney Gambling Control Commission, a spokesman admitted that did not apply to its new crypto-currency venture.
- Per, the FT, using the “cash and carry” strategy, traders sell a bitcoin futures contract at a premium, while also holding the underlying crypto.
- We thought it would be a good time to dive deeper into our partnership and what it means for CashBet Coin and the crypto community.
- The Lucky Block casino has live and table poker games, including short-deck poker, Texas Hold’em, Omaha, and Seven-Card Stud.
The cryptocurrency is a utility token that can be used on CashBet-powered iGaming sites and apps. CashBet is a Californian online gaming business formed in 2012, which is now launching an Initial Coin Offering (ICO). It aims to raise $40m by getting investors to buy CashBet Coins which can then be used to bet on its various online games.
The company headquartered in Oakland, California and registered in Alderney Gambling Control Commission and the UK Gambling Commission. It intends to dominate the crypto-casino and enterprise software market. “We are actively targeting a global, multi-billion dollar marketplace of iGaming content providers, operators and players,” Cashbet CEO Mike Reaves said in the wake of the announcement. CashBet Coin will be launched on 24th January via an Initial Coin Offering (ICO).
Getting Started with BCH
But one crypto-currency expert has questioned whether the club is wise to promote what can be a very risky investment. The club has reached an agreement with the gaming company CashBet, which is planning to launch its own currency CashBet Coin. “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.”
Arsenal Membership
The ripple network, a cryptocurrency that enjoyed massive growth in 2017 for example promises to cut payment costs by as much as 60%. Similarly cashbet coin is also set to make payments faster and with little cost to buyers. The collaboration is a first as cryptocurrencies penetrate more and more sectors of the sector. Arsenal and Cashbet are clearly intent on cashing in on the latest craze as it also tries to bring the best that the technology offers to its customers.
Statements and financial information on CoinCheckup.com and it’s subsites should not be construed as an endorsement or recommendation to buy, sell or hold. As the exclusive and official cryptocurrency of Arsenal Football Club, CashBet Coin is poised to become the most trusted and well-known token for iGaming, globally. Our vision is to elevate the online gambling experience for players everywhere through improved trust, cost, speed, content and access. The swell of activity has allowed CME to eclipse Binance as the largest bitcoin derivatives trading exchange in the world.
We have endeavored to design the very best online betting
experience for each of our customers, whether they are beginners or veterans. The partnership will provide a huge boost to Cashbet as it slowly builds it global presence. I’ve asked Arsenal whether it was wise to endorse a highly volatile business and whether it was encouraging fans to bet with CashBet Coins. In a Thursday note, JPMorgan’s Nikolaos Panigirtzoglou, highlighted that the spot ETFs will likely help deepen the crypto market and further developments could boost derivatives trading. An average 66,000 futures contracts have been exchanged daily this month at the CME Group, marking a new high and an almost 50% rise month-to-month, according to The Financial Times. Fans of Bitcoin Cash look for Provably Fair Games on offer as well as bonuses with favorable terms and user-friendly features like instant withdrawals.
Elsewhere on the BBC
Betpanda accepts Bitcoin Cash, Bitcoin, Ethereum, Litecoin, and other popular cryptos. Players can experience video and live dealer poker, including Stud, Three Card, Hold’em, and Russian Poker.Betpanda has a cashback program and a welcome bonus. There are hundreds of virtual and live games from top software providers, a VIP program with unique competitions, and a prize raffle. Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions.
The Lucky Block casino has live and table poker games, including short-deck poker, Texas Hold’em, Omaha, and Seven-Card Stud. It’s a Bitcoin Cash-friendly casino with Provably Fair Games that accepts multiple other cryptocurrencies and has fast account openings for new players. This site boasts blackjack, roulette, baccarat, and table games like Sic Bo and Teen Patti, as well as a wide selection of sports betting and its own crypto token. CashBet Coin (CBC), designed by Oakland, California-based gambling platform CashBet, will see the presale for its ICO, or initial coin offering, at 11 a.m.
This content is purely for educational purposes and should not be considered as financial advice. Do your own research before investing in any crypto platform and only invest the amount https://cryptolisting.org/ you can afford to lose. Once a player has selected a well-rated and trustworthy Bitcoin Cash casino and checked its terms and rules, they’ll register and create an account.
Visit our Review Methodology page to learn more about how we review each crypto platform. These will change and can be restrictive, even on the top crypto casinos. The public sale will commence on March 20 where investors will be offered a chance to buy the Cashbet coin at $0.45 in the first 24 hours (at a discount of 10%) and for $0.47 for the next 24 hours.
The partnership will help CashBet Coin build global brand awareness through our extensive digital and social media platforms, and through the creation of bespoke content with our players. Arsenal has announced a partnership with CashBet Coin as the club’s first official cryptocurrency partner and official blockchain partner. 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, operators and players”. In an ICO the issuing company accepts a cryptocurrency, such as bitcoin or Ether, in exchange for “tokens” in the venture, which can represent a share in a firm or even a prepayment voucher.
A total of 430 million CBC tokens — starting value at 50 cents — will be issued, but the bad news for U.S. citizens is that they are only purchasable by accredited investors. Purchases of CBC can be made with Bitcoin, Ethereum, and Litecoin. CashBet Coins will initially be priced at 50 cents and are designed to be used on CashBet’s mobile phone gambling apps. The acquisition enables Greentube to enhance the use of cryptocurrency throughout its social gaming portfolio and follows the successful trial integration of CBC with its flagship brand GameTwist last year. The deal, the value of which 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.
Instead, in the over two weeks of trading, crypto asset manager Grayscale has seen large outflows from its ETF, while bitcoin itself has flailed. The token whipsawed in the weeks since the SEC’s approval, falling below the key $40,000 threshold last week, and is trading basically where at the beginning of this month. Arsenal issued this perfunctory press release about becoming the first Premier League team partner with a cryptocurrency. To start playing with BCH, the cryptocurrency will need to be transferred from the player’s cryptocurrency wallet to the casino. Some BCH-friendly casinos can have over 3000+ slots from some of the top software providers in the industry.