The Oakland-CA online betting company, CashBet, just got a big boost to its ICO, as England\'s Premier League football club signed up to promote the new cryptocurrency. In the exclusive deal, Arsenal will officially partner CashBet in the Blockchain project, the first major football club in the world to join the crypto community publicly.

CashBet was founded in 2012 and, although based in California, is licensed by the Alderney and the UK Gambling Commissions. The new project will use the Ethereum distributed ledger to solve the problem of pay-out delays experienced by gamblers on the platform, and will accept both crypto and fiat payments. The project\'s Pre-ICO sale launched at 1700 GMT and already features Arsenal players on the website. This runs until 24th February, and is offered at a 20% discount on the $0.50 price, with a minimum investment of $25k. The ICO itself runs from 20th March to 27th April, with further discounts offered in the first 24 hours to eligible participants. The price will then rise by five cents a week throughout the ICO, up to a ceiling of $0.75.

The company will issue 430 million CashBet Coins, of which a third will go to investors, roughly a third to reserves, with the remaining third split between team development and advisory funding.