The UK's first football club Arsenal has made the improbable move of its own. associate with an ICO for official sponsorship. On Thursday, the London-based club will now present the upcoming ICO promotion of the American CashBet mobile gaming application.

The little-known operator is planning to raise up to $ 70 million by distributing its CashBet Coin token, with its current pre-ICO phase ending on February 20th.

In a press release, CashBet describes itself as " exclusive and official Blockchain Partner of Arsenal."

While some reports suggest that the agreement is the first of its kind in the sports world, in December 2017, Bitcoin Switzerland began a three-year sponsorship of the Danish Rungsted hockey team Seier Capital.

Bitcoin injection saw Bitcoin Switzerland will rename the team's stadium at Bitcoin Arena and promise to pay its best player only at Bitcoin – another world first in the sport.

Despite the mixed reputation of the ICOs that continues, the Arsenal sales manager seems unfazed.

" We are pleased to welcome CashBet Coin as a partner.We are looking forward to working with CashBet Coin as they launch their new cryptocurrency ", said Vinai Venkatesham in a new publication

.