he mobile-first iGaming platform provider and turnkey operator, CashBet, announced a major blockchain initiative for its patented iGaming platform on January 4th, with the launch an Initial Coin Offering (ICO) of its cryptocurrency designed for iGaming, CashBet Coin. "Incorporating blockchain into the CashBet platform will better enable the company to offer the only complete, crypto-ready iGaming platform on the market," asserted Dr. Mike Reaves, CEO and founder of CashBet.
CashBet Coin’s ICO presale will begin on January 24, 2018 at 0:00 GMT +8 and will end on February 20 at 0:00 GMT +8. The public sale is expected to begin March 20 at 0:00 GMT +8 and will continue until April 27 at 0:00 GMT +8. The ICO will end early if the hard cap is reached prior to the end of the public sale.
Reaves also said: “The introduction of CashBet Coin will enable operators to solve the biggest problems facing crypto casinos today: speed, trust, and cost. Integrating blockchain technology into the CashBet core iGaming stack will open new markets by democratizing access to world-class entertainment for a new group of players currently underserved by the centralized banking establishment. Additionally, the associated technology initiative will be far more scalable and cost-efficient on a per transaction basis than current blockchain-based casino software.”
CashBet Coin tokens will be issued within two weeks after the ICO completes. The introduction of CashBet Coin as an ERC20-compatible cryptocurrency token will roll-out in several phases that include inviting token holders to an exclusive VIP experience, introducing regulated cryptocurrency wagering, and providing facilities for customers and partners of CashBet to pay their fees via CashBet Coin. Later, CashBet will launch CryptoRGS, the first provably-fair iGaming content distribution network suitable for crypto casinos, and CryptoGo, an off-chain state channel-based technology designed to minimize cost and payout delay for players.
CashBet also announced advisory board appointments to support the ICO, including Stuart Lewis-Smith (GM of GSN Games / Sony), Lars Wahlström (GM of Sweden-based Jackpotjoy), Kevin Flood (Founder of Gameinlane and former CTO of PurePlay and GM of Harrah’s Online), Tjaden Hess (GM of Blockchain Software Engineer, 1protocol and ConsenSys) and Jay Berg (Founder of Protoblock, Inc. and former core developer at Coinsetter)
Reaves continued: “We anticipate several more patents to be issued for this technology to complement the two patents that were issued to CashBet in December. The heavy hitters we’ve added to our software engineering team and advisory board will help us fulfill our vision of offering the most feature-rich cryptocurrency-ready iGaming platform. The ease of use and liquidity of our token, CashBet Coin, will open new markets both in terms of players and operators. This new cryptocurrency will allow us and our partners to attract new players through access to a robust VIP program as well as consumer protection, minimal transaction fees, faster payouts, and hundreds of high quality games that do not exist on any other cryptocurrency-enabled iGaming platform.”
CashBet was founded in 2012 by gaming industry veterans and is the only mobile-first platform currently in the market for real-money, social, lottery, and skill-based gaming. The team has previous experience building and selling online gaming platforms for CyberArts (Ultimate Gaming) and US Digital Gaming. The CashBet platform allows operators to run an iGaming business end-to-end, enabling robust game management, marketing, customer relationship management, support, and data analytics. CashBet is licensed by the Alderney Gambling Control Commission and the UK Gambling Commission.