A blockchain-betting alternate BetDEX is going live on Solana mainnet on November 17, the primary day of the FIFA World Cup Qatar 2022.
The platform goals to take real-money soccer bets as the primary blockchain-based sports activities betting alternate with a correct license. At some point of the launch, BetDEX is not going to impose any charges on bets made on World Cup video games.
The platform’s customers will have the ability to wager on soccer video games, whereas wagers on World Cup games shall be charge-free.
In an announcement, the alternate’s CEO and co-founder, Varun Sudhakar, mentioned.
“We’re thrilled to formally introduce the BetDEX Change in just a few nations and territories. Because the world’s first absolutely authorized web3 sports activities betting alternate, we’re wanting to welcome new members right into a burgeoning trade.
The sports activities betting trade has milked their clients for much too lengthy by offering inferior merchandise and exorbitant costs whereas limiting their successful gamers.”
Regulatory Compliance
Backed by Paradigm and FTX, BetDEX is the primary licensed and controlled blockchain-based sports activities betting alternate.
The decentralized platform obtained all online gambling and gaming license within the Isle of Man, which additionally consists of on-line sports activities betting underneath the On-line Playing Regulation Act (OGRA). The platform at present operates in South America, Africa, Asia, and Europe.
BetDEX is engaged on increasing its choices and the areas it may well serve. Along with soccer, the BetDEX alternate is anticipated to start out taking bets on tennis and cricket in 2023. The platform has already registered 12,000 early-access customers since its open beta check started in early October. Though the alternate will nonetheless have a “beta” tag till 2023, customers can place actual cash bets as quickly because it launches.
BetDEX, a web3 firm backed by Paradigm and FTX, was launched by former FanDuel founders. This can be a permissionless decentralized and open-sourced protocol developed on the Solana blockchain, facilitating prediction and betting markets, together with BetDEX as a big contributor.