The BetDEX decentralized sports betting platform will be launched on the Solana Mainnet ahead of the upcoming FIFA World Cup Qatar 2022, which will be played from November 20 to December 18.

Starting November 17, three days before the World Cup, BetDEX will be open on the Solana mainnet, according to Varun Sudhakar, CEO and co-founder of BetDEX Exchange.

As it kicks off, users will be able to bet, specifically the platform will accept real money bets on soccer matches. For any such bets placed on 2022 FIFA World Cup matches, no fee will be charged by the exchange. Notably, BetDEX Exchange is the first fully licensed non-custodial sports betting platform on a blockchain. It is based on the Monaco protocol.

“After a successful open beta, we are excited to officially launch the BetDEX Exchange in select countries and territories around the world. As the world’s first fully licensed web3 sports betting exchange, we look forward to adding members to a booming space.

Launching just before the world’s biggest sporting event is an exciting time as our community can bet on matches during the World Cup and beyond,” said Sudhakar.

BetDEX plans to expand to other territories

The exchange received its license from the Isle of Man under the Online Gambling Regulation Act (OGRA) to offer all types of online gaming and betting, including online sports betting. For now, only bets from countries in Asia, South America, Africa and all of Europe will be accepted.

In the future, there are plans to expand BetDEX’s offerings, both in terms of the territories where the betting option is available and also betting capabilities. For the next year, BetDEX Exchange plans to accept bets on tennis and cricket in addition to this one on soccer.

So far, various preparations have been made for the 2022 FIFA World Cup upgrade, especially the introduction of blockchain technology and many forms of digitization. Already, cryptocurrency exchange Crypto.com is the official partner and one of the sponsors of the event in Qatar. Weather Algorand is the official blockchain partner for the upcoming World Cup.

Recently, card issuer and financial services provider Visa, which is also FIFA’s Official Payment Technology Partner, launched a non-fungible token (NFT) piece called ‘Master of Movement’ before the World Cup.

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