World’s first decentralised sports betting protocol now live in beta

Home » World’s first decentralised sports betting protocol now live in beta

The Monaco Protocol, the world’s first decentralized sports betting protocol, is now available for developers to build complementary products on the Solana devnet.
The Protocol, based on Solana, will act as a global clearinghouse for sports betting, providing bettors with fast, low-cost trades across a shared liquidity pool.
Third parties can build their own applications and develop innovations on the Protocol platform because it is completely decentralized, open-source, and permissionless.

The BetDex Exchange, the first sports betting application built on the Monaco Protocol, is now in closed beta, with over 80,000 people on the waiting list.

BetDex currently provides football betting services, with plans to add more sports in the future.

Varun Sudhakar, Co-Founder and CEO of BetDex, stated: “We believe that the future of sports betting will be decentralized, and the Monaco Protocol and BetDex Exchange place us at the forefront of that industry advancement.”

We have a team with extensive industry knowledge, and we’re laser-focused on obtaining the necessary gaming licenses this year while providing a superior sports betting experience in the face of an outdated status quo.”

Varun Sudhakar, Nigel Eccles, and Stuart Tonner, all former FanDuel executives, founded BetDex.

In 2021, the three received a £21 million ($24.8 million) seed funding round led by crypto investment firm Paradigm and cryptocurrency exchange FTX.

BetDex, based in Scotland with a US office in New York, is pursuing a number of global licenses with the goal of transforming the consumer sports betting industry. Tonner, Co-Founder and CTO of BetDex, stated: “Blockchain technology will revolutionize sports betting, and we are well ahead of the curve.

“We already have a great team in place that is rapidly growing, and we have a number of exciting product milestones coming up before the end of the year.””

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