A national newspaper is offering £100,000 to catch the BMX gunman who killed Rhys Jones.
The Sun has put up the reward in the hope that it will result in a new lead over the death of the 11-year-old, who was shot in the Croxteth area of Liverpool on Wednesday evening.
A 16-year-old boy was arrested yesterday afternoon and is being questioned on suspicion of murder.
Yesterday, Rhys's parents - Melanie and Stephen Jones - laid flowers at the scene of the shooting.
Mrs Jones wept as the couple spent several minutes looking at the bouquets and tributes left in memory of their son.
Rhys was shot in the neck as he played football with friends outside a pub, in Croxteth, at about 7.30pm on Wednesday.
People living in the area said shots were fired by a teenager on a BMX bike.
Mrs Jones cradled her son in her arms in his dying moments as they waited for paramedics.
A 14-year-old and an 18-year-old were released on bail on Thursday.
The Sun's reward is for anyone supplying new information directly leading to the arrest and conviction of whoever was responsible for the murder.
Money will be paid at the discretion of the editor.
Yesterday, police confirmed that an abandoned bicycle, which was found in an area of Liverpool with a different postcode from the shooting, was being examined.
Officers also confirmed descriptions of the killer's firearm, a black handgun with a long barrel.
Speaking after the latest arrest was made public, a police source said: "Rhys was not involved in any form of gang. We are categorising this as a Category A-plus homicide, the most serious investigation to take on.
"We have made some arrests but this could be a protracted investigation. Another arrest was made today but further inquiries are ongoing and further arrests possible."
Rhys was a keen Everton supporter and at 5.15pm today, a minute's silence will be held before his team take on Blackburn Rovers at Goodison Park.
Players from both sides will wear black armbands.
A police appeal for help will also be broadcast at the ground.
"We are using this opportunity to appeal for people to come forward with information which could lead to the arrest of those responsible for killing Rhys," said Detective Chief Inspector Dave Kelly.
"We hope that if there is anyone in the crowd who has any information regarding the murder of Rhys that they will come forward and tell us what they know."
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