A new chapter begins for BetDEX, the blockchain-based sports betting exchange. The firm has successfully acquired a license in Ireland, expanding its footprint and serving Irish sports betting enthusiasts just in time for the highly-anticipated Women’s Soccer World Cup.
As the kick-off countdown begins, passionate football fans are rallying behind their beloved Irish team and are encouraged to participate in the thrilling betting experience offered by BetDEX.
🇮🇪Hey Ireland! 📣 We're ready for your bets!!— BetDEX (@BetDEXLabs) July 19, 2023
BetDEX is pumped to announce that we've received our Irish license right in time for you to back your very own Ireland Women's Team during the Women's World Cup.
Go get your bets in before kickoff tomorrow! ⚽️
Win or lose,…
An Overview of BetDEX’s Operations
BetDEX, a betting platform built on the open-sourced Monaco protocol, operates on a non-custodial model, meaning it doesn’t directly manage users’ funds. This model aims to offer a degree of security and transparency. The platform has licenses from both the Isle of Man Gambling Supervision Commission and Irish authorities.
Founded by Nigel Eccles, co-founder of FanDuel, BetDEX was launched in an open beta in November 2022, supported by a £21m seed investment. The platform serves users in Europe, Asia, South America, and Africa.
In recent developments, BetDEX collaborated with the NFT platform, DRiP, to provide an opportunity for DRiP subscribers to win an NFT through matched trades on BetDEX.
Additionally, a related event took place on July 14, in connection with the Wimbledon Grand Slam Giveaway.
BetDEX aims to combine web3 and sports betting to address issues like fragmented liquidity pools and limited betting options for winning players. The company plans to focus on user experience, liquidity, and expansion of sports coverage and in-play markets in 2023.
iGaming Industry Observations
BetDEX’s developments offer several observations for the iGaming industry:
- Decentralized Betting: BetDEX’s Ireland expansion shows increasing interest in decentralized betting platforms.
- Blockchain Use: The use of blockchain technology in iGaming in BetDEX’s operations might inspire other iGaming platforms to follow the trend of adopting blockchain for transparency and security.
- Market Expansion: BetDEX’s entry into Ireland might encourage other companies to pursue similar strategies for global reach, potentially broadening the iGaming market.