Fully-licensed and regulated decentralized sports betting exchange expanding betting markets with the addition of Indian Premier League
EDINBURGH, Scotland, March 27, 2023 /PRNewswire/ — BetDEX Labs Inc. (or “BetDEX”) today announced that the BetDEX Exchange will be introducing cricket markets to the platform this week. The first fully-licensed sports betting exchange built on the blockchain will accept bets on Indian Premier League (“IPL”) matches to coincide with the first matches of the forthcoming 2023 season. Cricket joins soccer and basketball markets currently available on the Exchange.
The launch of cricket markets via the Indian Premier League, the men’s Twenty20 cricket league in India contested by 10 teams across 7 cities, is a key milestone for the BetDEX Exchange, as it brings one of the world’s most popular leagues to the BetDEX community. Last year, the IPL captured 229 million television viewers in the first week of the season, with the league itself estimated to be one of the highest valued sports leagues worldwide.
Varun Sudhakar, CEO and Co-Founder of BetDEX, commented on today’s news: “The addition of IPL on the BetDEX Exchange is an exciting milestone and a celebration of the ongoing expansion of our betting markets. Adding the IPL has been a key goal of the team as we continue to add more sports markets across the globe for our community.”
Since its launch on Solana’s blockchain in November, 2022 for the FIFA World Cup, BetDEX has continually upgraded and expanded its exchange. Building upon FIFA World Cup matches and the English Premier League, which were available at launch, the exchange has since added various markets for Bundesliga, Serie A, NFL, NBA, NCAA Basketball, and more. BetDEX recently announced that it has launched in new territories including Canada and India, as the company continues to expand operations across the globe.
BetDEX Exchange is built on the Monaco Protocol, a decentralized and open-sourced protocol that utilizes the Solana blockchain, supporting prediction and betting markets, underpinned by greater security and lower network fees than traditional betting exchanges and sportsbooks.
The BetDEX Exchange became the first fully licensed sports betting exchange on blockchain after gaining licensing from the Isle of Man in October 2022.
For additional information regarding the BetDEX Exchange please visit: https://www.betdex.com/
BetDEX Labs Inc. (“BetDEX”), developed by former FanDuel founders and early employees, is a web3 company backed by investors including Paradigm, Multicoin, and Lightspeed, building open source technology for global prediction markets. The BetDEX Exchange, powered by BetDEX, is a sports betting exchange built on the Monaco Protocol allowing for peer-to-peer wagering. The Exchange is licensed and regulated under the jurisdiction of Isle of Man via the Gambling Supervision Commission. BetDEX is a key contributor to the Monaco Protocol, a permissionless decentralized and open-sourced protocol built on the Solana blockchain, supporting prediction and betting markets. For more information, visit: https://www.betdex.com/. Follow BetDEX @BetDEXLabs.
Contact: Dillon Arace, [email protected]
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