In a groundbreaking move for the world of online sports betting, BetDEX Labs Inc. (BetDEX) has proudly announced the acquisition of a remote betting intermediary license in Ireland. This license acquisition, which officially came into effect on July 1, marks a significant step forward for the BetDEX Exchange, granting it the authority to provide a diverse range of online sports betting services within Ireland. This move not only strengthens BetDEX's foothold within the European Union but also highlights its commitment to global expansion through innovative blockchain technology.
BetDEX Exchange gained widespread attention when it became the pioneer in licensed and regulated sports betting exchanges built on blockchain technology, securing an online gambling license from the Isle of Man in October 2022. The recent granting of the remote betting intermediary license in Ireland further cements BetDEX's reputation as a transformative force within the betting industry.
Varun Sudhakar, CEO and Co-Founder of BetDEX, expressed his enthusiasm, stating,
|"With our roots in the UK and a burgeoning presence in Ireland, we are entering both familiar and exciting new terrain. Ireland's rich history in sports betting innovation perfectly aligns with our vision. This license not only empowers Irish bettors with access to our platform but also introduces the region to the potential of blockchain and web3 technologies. We are confident this step will propel the global adoption of web3 betting platforms."
With the BetDEX Exchange now accessible to Irish bettors, they are set to experience an array of benefits, including enhanced speed, reduced costs, and heightened flexibility when compared to traditional competitors. The Exchange distinguishes itself as entirely non-custodial, ensuring that player funds are never under BetDEX's control. Wagers are facilitated through transparent, audited, and public smart contracts on the blockchain. Upon settlement, winnings are immediately transferred to the winner's wallet. This innovative approach permits BetDEX to provide more competitive spreads and fractional fees compared to conventional bookmakers.
It's interesting to note that the licencing licence was granted at the same time as cricket and tennis markets began accepting in-play wagers on July 3. As a critical segment of the sports betting industry, in-play markets contribute to over 50% of global sports betting turnover. As BetDEX continually expands its offerings, users will be able to engage in side markets, such as betting on the game and set winners in tennis, as well as predicting the number of goals and goal scorers across English and European football leagues.
Nigel Eccles, Chairman and Co-Founder of BetDEX Labs, conveyed his pride in the company's achievement, remarking,
|"Ireland's ongoing dedication to technological innovation aligns perfectly with BetDEX's core values. It's an honour to reintroduce the BetDEX Exchange to my home country. Our team is thrilled to provide the people of Ireland with an unparalleled betting experience.
The acquisition of the remote betting intermediary license in Ireland solidifies BetDEX's position as a trailblazer in the convergence of blockchain technology and sports betting. With this latest milestone, BetDEX continues to pave the way for a more transparent, efficient, and rewarding betting landscape for enthusiasts around the world.