BetDex Exchange, established by FanDuel founder Nigel Eccles, has been given permission by the Isle of Man Gambling Supervision Commission, making it the first regulated blockchain wagering platform.
BetDex Exchange is the first regulated blockchain wagering platform. The firm was established by former FanDuel executives Varun Sudhakar, Stuart Tonner, and Nigel Eccles. BetDex has received authorization to operate all types of online gaming, including online sports wagering, under the Isle of Man Online Gambling Regulation Act.
BetDex has secured $21 million in an initial funding round. Varun Sudhakar, Chief Executive Officer and co-founder of BetDex, stated: “This is a significant step forward for BetDex Exchange. We are now the first fully regulated sports wagering platform in the Web3 space.”
Abby Kimber, Head of E-Gaming for the Isle of Man Government, stated: “We are pleased to welcome BetDex to our group. We are thrilled to be at the forefront of technologies such as blockchain, while upholding our reputation as a highly regulated jurisdiction that prioritizes player protection.”
I extend my best wishes to BetDex for their future ventures and anticipate a lasting collaboration with them.
In recent weeks, this newly formed platform has garnered wagers from more than 12,000 early adopters and is presently in an open trial phase. It welcomes bets from South America, Europe, Asia, and portions of Africa. The BetDex platform currently provides peer-to-peer sports wagering on football and is projected to introduce additional sports in the coming period.
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