BetDEX Receives Approval for Ireland Betting Market
BetDEX, the first regulated blockchain sports betting exchange, has obtained an official betting license in Ireland.
The BetDEX Exchange, which started with peer-to-peer sports wagers on soccer, got its first license from the Isle of Man in October 2022. Under the Isle of Man Online Gambling Regulation Act, the approval allows the company to offer all kinds of online gaming, including sports betting.
In its Beta testing phase, the exchange accepted wagers from more than 12,000 early access players from several parts of the world, including America, Europe, Asia, and Africa.
By getting the go-ahead to launch in Ireland, the Web3 exchange has achieved a significant milestone in its drive to expand its innovative betting platform globally.
As a UK-headquartered company with a local presence in Ireland, the BetDEX team is excited to enter a new but familiar territory of operation. Ireland has a rich history of being at the forefront of sports betting advancements, and while this license provides Irish citizens with the opportunity to bet using our platform, it also introduces the region to the power and benefits of blockchain and web3 technologies. We’re confident this will continue to advance the adoption of web3 betting platforms across the globe.
New In-Play Markets
According to the company, the licensing approval coincides with its introduction of in-play bets for cricket and tennis markets. This development further enhances the betting experience for users on the exchange as it allows them to place bets in real-time during cricket and tennis matches.
Users will also be able to wager on side markets like games and set winners in tennis matches and the number of goals and goal scorers for the English and European football leagues.
The exchange has also announced plans to launch betting markets for other sports and leagues in the future, including the Rugby World Cup, the ICC Men’s Cricket World Cup, and cycling.
BetDEX Chairman Nigel Eccles added: “Ireland has long been a leader in innovation and adoption of new technologies. I am proud to be able to bring the BetDEX exchange back to my native country.”
As it continues to garner recognition and trust within the industry, BetDEX is poised to revolutionize the way people engage in sports betting worldwide. While blockchain betting exchanges aren’t yet popular with bettors, the experience users get on the BetDEX platform may convert many into ardent followers of the blockchain betting revolution.