BetDex Exchange has received a licence from the Isle of Man Gambling Supervision Commission (GSC) to become the first sports betting exchange on blockchain.
Under the Online Gambling Regulation Act (OGRA), BetDEX has received licensed approval for all forms of online gambling and gaming, including online sports betting. The BetDEX Exchange is powered by BetDEX Labs, a web3 company founded by former FanDuel executives Varun Sudhakar, CEO, Stuart Tonner, CTO, and Nigel Eccles, Chairman.
Varun Sudhakar, CEO and Co-Founder of BetDEX, said: “Today’s news is an exciting step forward for the BetDEX Exchange. 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. We’re certain this is the start of growing our exchange and continuing the expansion of sports betting into the Web3 landscape.”
Digital Isle of Man Head of eGaming Abby Kimber said: “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.”
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