BetDEX, a sports betting exchange built on a blockchain, will open on Solana Mainnet on Nov. 17.
The sports betting exchange will go live at the beginning of the FIFA World Cup in Qatar, said Varun Sudhakar, the firm’s CEO. Users will be able to place bets on football matches, with no fees for bets placed on World Cup matches.
“For too long, the sports betting industry has milked their customers by offering subpar products and high fees, while simultaneously restricting their winning players,” Sudhakar told The Block.
BetDEX is currently available in countries across Europe, Asia, South America and Africa. The sports exchange is fully licensed and regulated in the Isle of Man under the Online Gambling Regulation Act.
The FIFA World Cup in Qatar has come under scrutiny in the build-up to the tournament. Concerns have been raised over the conditions workers have had to endure to build the stadiums required to host the tournament, among other issues.