Leading mobile-first iGaming platform provider CashBet today announced it seeks to raise $40 million through an Initial Coin Offering (ICO) to develop the world’s first complete crypto-ready mobile iGaming platform.
CashBet is a vertically integrated iGaming solution to leverage blockchain technology for transparent operations, increased speed, and lower transaction fees. The CashBet Coin will be available in pre-sale starting January 24, 2018, at 5:00 p.m. GMT, with a 20 percent discount offered. A public sale will follow in March 2018.
Interactive gaming, which includes real money, social, skill-based, esports, and sports betting, hit $91 billion in 2016, led by mobile gaming.
Despite strong growth, current iGaming operations continue to face three major issues: trust, speed, and cost.
While most iGaming ICOs and solutions are presented by newly formed companies, CashBet has been in business since 2012, supports over 450 games on its platform, and is venture-backed and profitable. CashBet is also a platform licensed by the world’s most reputable tier 1 gaming jurisdictions and is fully committed to delivering an iGaming experience that is legal, safe, fun, and profitable. CashBet recently won first place out of 32 contestants at CoinAgenda’s ICO competition in Las Vegas, and second place out of 42 contestants at the World Crypto Economic Forum’s ICO competition in San Francisco.
Mike Reaves, CEO, and Co-founder of CashBet says:
“We are thrilled by the business and cryptocurrency community’s recent support of CashBet’s blockchain integration and upcoming ICO. The iGaming marketplace demands more transparency and flexibility, and we’re confident that our crypto solution will deliver a superior player experience.”
The CashBet Coin will be used for payments on any casino app or website powered by the CashBet platform, lowering transaction fees and increasing the speed of payouts. CashBet Coin is intended to democratize access to CashBet’s entertainment and gaming by enabling players in markets underserved by the payment card industry to wager in CashBet-powered casinos. Players will benefit from access to a greater variety of provably-fair content, reduced transaction costs, and faster payouts.