BetDEX Exchange Licenced in Isle of Man

This story was published more than 1 year ago.

Blockchain betting exchange BetDEX has shared that they've been licensed by the Isle of Man Gambling Supervision Commission and will now be able to offer betting services to customers in the market.

The exchange will now be able to offer sportsbetting services, although the licensing does allow for casino gaming as well. BetDEX is a decentralised sportsbetting exchange, which claims to offer faster speeds for transactions and odds changes, in addition to offering lower fees for bettors than traditional sportsbooks would have. The exchange was created by Nigel Eccles, who also founded betting brand FanDuel.

BetDEX has opened an "open beta" stage, which has seen it process more than 12,000 wagers from punters in continents like Europe, Africa, Asia, and South America.

"Today's news is an exciting step forward for the BetDex Exchange," said BetDEX CEO Varun Sudhakar. "With the licensing and regulatory approval, BetDex now boasts the first fully-regulated sports betting platform in the web3 space, and we're excited to welcome bettors from approved regions."

Isle of Man Government Head of eGaming Abby Kimber also commented, adding: "It is a pleasure to welcome BetDex to the island. We are excited to be at the forefront of technologies like blockchain while maintaining our reputation as a highly regulated jurisdiction that prides itself on player protection. I wish BetDex every success with their future ventures and look forward to partnering with them for many years to come."

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.