SBC News Voice of the Sports Betting Industry
BetDEX Labs has launched tennis markets on its BetDEX Exchange – the first fully-licensed sports betting platform built on blockchain technology.
The initial offering of tennis markets coincided with the start of the French Open on 28 May. Meanwhile, the company is also preparing to launch in-game wagering in the coming weeks.
In-game products will be available for tennis at launch and will subsequently roll out to other sports including cricket, basketball and football, to name a few.
Varun Sudhakar, CEO and Co-Founder of BetDEX said: “The addition of tennis and in-play wagering are major roadmap milestones for the BetDEX team and were highly requested by our community.
“Tennis markets have been in popular demand during the French Open, and in-play betting capabilities will open more wagering flexibility to our users.
The sports betting platform has reportedly experienced an over 850% increase in turnover since the beginning of the year. In March 2023, the exchange expanded to cricket markets in alignment with the start of the Indian Premier League (IPL) season.
“To have these launch at a time when we are seeing continued growth is a great accomplishment,” Sudhakar added.
“We firmly believe in the future of web3 and are confident BetDEX will remain a leader in that transition to benefit the entire industry.”
The BetDEX Exchange also recently launched select esports markets and continues to look for new markets to add to the exchange, bolstering its offerings, while under the jurisdiction and guidance of its Isle of Man licence.
Earlier this year, Sudhakar discussed with SBC News that in spite of the downfall of FTX and crypto volatility and prices, crypto-betting continued to buck this trend, particularly from a customer-relations standpoint.
“Crypto betting has been one of the few bright spots of the general bear market, which started well before FTX,” he said. “Crypto-betting is one of the few verticals that has done quite well and has seen significant traction.”
