Sports betting exchange BetDEX officially launches following beta period

BetDEX Labs has announced the official launch of its sports betting exchange platform, BetDEX Exchange, more than a year after its beta launch. The Edinburgh-headquartered business, which features FanDuel co-founder Nigel Eccles, says its exchange offers highly competitive odds across a number of popular betting markets with "industry low fees."

Since the beta launched over a year ago, the platform has grown from taking bets on the FIFA World Cup 2022 to a wider range of sports, including soccer, football, tennis, hockey, basketball, MMA, e-sports, and more.

BetDEX says that, unlike with other platforms, its users do not incur premium charges or discriminatory account restrictions "for being a winning bettor." The exchange further claims to offer "one of the lowest fees in the industry" - 3% on net winnings; with bettors only paying if they win.

"The BetDEX Exchange has stated that it will never penalize its users for winning, and will always strive to provide its customers with access to the best odds and deep liquidity," the company said in a press release. "Customers can deposit in crypto or fiat to fund their player account."

Varun Sudhakar, CEO and Co-Founder of BetDEX Labs said: “The core of the BetDEX team were early developers and employees at FanDuel, Betfair, BetDAQ, and BoyleSports, motivated to democratize access to sports betting. 

“While sports betting is a massive industry with over $2 trillion dollars traded every year, hidden fees and arbitrary limits on winners have created an extremely poor player experience. We founded BetDEX on the belief that players should not be penalized for their success, and we are proud to launch a sports betting exchange that is built for the bettor.”

We're officially launching out of beta! Thanks to everyone who's been with us on this journey....we're just getting started!https://t.co/yFKVELODYZ https://t.co/XxwMKHuvXL

— BetDEX (@BetDEXLabs) May 30, 2024

As a result of its expansion since the beta launch over a year ago, BetDEX now offers over 20 times as many markets year-over-year "with great prices and deep liquidity, providing bettors with the variety and choice they expect from a top-tier sports betting exchange."

The BetDEX Exchange is licensed and regulated in Ireland, having received its sports wagering license in the country in July last year. Before that, the company became the first fully licensed and regulated sports betting exchange built on blockchain technology when it received an online gambling license from the Isle of Man in October 2022.