BetDEX celebrates ‘key goal’ with sportsbook market expansion

Blockchain-based betting exchange BetDEX has lauded the completion of a key commercial objective for 2023, adding Indian Premier League (IPL) markets to its platform.

BetDEX hopes to further extend its reach in global betting markets by incorporating cricket, which will sit alongside football, American football and basketball as one of its three primary offerings, with plans for further expansion in the future.

The company noted that the IPL is ‘one of the world’s most popular leagues’, having registered 229 million television viewers in the first week of the new season and estimated the cricket league as one of the highest valued sports tournaments globally.

Varun Sudhakar, CEO and Co-Founder of BetDEX, said: “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.”

Built on the Solana-based Monaco Protocol, a decentralised and open-sourced blockchain, BetDEX became the first fully-licensed sports betting exchange incorporating blockchain when it registered with the Isle of Man Gaming Commission in October 2022. 

As it stands, the operator’s betting markets include the Premier League, NFL, Bundesliga, Serie A, NBA, NCAA Basketball, as well as last year’s FIFA World Cup, which the platform launched before the tournament commenced.

In an interview with SBC following the launch, Varun Sudhakar outlined BetDEX’s ambition to expand its reach and visibility via the hugely popular World Cup, which came shortly after global cryptocurrency markets took a major hit. 

This occurred due to the bankruptcy and liquidation of crypto exchange FTX in November 2022, which saw public and investor confidence in cryptocurrency fall, subsequently impacting prices. 

Sudhakar, however, remained confident in crypto-betting’s future stability and its ability to bounce back, sharing his view that operator’s of these products must promote their USPs to customers, leveraging popular betting events such as the World Cup.

He said: “I think the best way to solve that as it relates to the general public is to find different ways to showcase applications which benefit users, and provide something different for users compared to what they currently experience in day-to-day life. Betting is definitely one of those avenues.”