SBC News Voice of the Sports Betting Industry
BetDEX has announced that its BetDEX Exchange has received a remote betting intermediary licence in Ireland.
Effective as of 1 July, the licence fully approves the company to offer all forms of online sports betting in the country and establishes a presence in the EU as the Exchange continues to expand global operations.
Varun Sudhakar, CEO and Co-Founder of BetDEX, commented: “As a UK-headquartered company with a local presence in Ireland, the BetDEX team is excited to enter a new but familiar territory of operation.
“Ireland has a rich history of being at the forefront of sports betting advancements, and while this licence provides Irish citizens with the opportunity to bet using our platform, it also introduces the region to the power and benefits of blockchain and web3 technologies.
“We’re confident this will continue to advance the adoption of web3 betting platforms across the globe.”
The BetDEX Exchange became the first fully licensed and regulated sports betting exchange built on blockchain technology when it received an online gambling licence from the Isle of Man in October last year.
Licensing approval in Ireland also coincides with the company’s introduction of in-play bets, which were fully available as of 3 July for cricket and tennis markets.
“Ireland has long been a leader in innovation and adoption of new technologies”, added BetDEX Labs Chairman and Co-Founder, Nigel Eccles.
“This licensing is a testament to the country’s commitment to staying on the cutting-edge and I am proud to be able to bring the BetDEX Exchange back to my native country. On behalf of the BetDEX team, we are excited to provide a superior betting experience to the people of Ireland.”
The firm has also continued to expand its sports coverage, having launched betting markets on tennis, cricket, UFC, and esports in the last few months.
BetDEX also asserted that it is going to launch betting markets for other leagues and sports including the Rugby World Cup in France later this year, in addition to the ICC Men’s Cricket World Cup in India and cycling, amongst others.
The company praised the increase in its offerings for fuelling rapid growth, with the Exchange seeing over $1.5m in matched wagers during the past six months.
