Igaming platform provider Cashbet is seeking to raise $40m through an Initial Coin Offering to develop a crypto-ready mobile igaming platform.
According to the company, interactive gaming, which includes real money, social, skill-based, esports and sports betting, hit $91bn in 2016, led by mobile gaming. This latest move from CashBet aims 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, with a 20 percent discount offered. A public sale will follow in March 2018.
“We are thrilled by the business and cryptocurrency community’s recent support of CashBet’s blockchain integration and upcoming ICO,” said Mike Reaves, CEO and co-founder of the company. “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.
