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BetDEX Exchange to Launch on Solana Mainnet Ahead of 2022 FIFA World Cup

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Fully-licensed and regulated Exchange will accept real money wagers on soccer matches in approved regions beginning November 17

EDINBURGH, Scotland, Nov. 6, 2022 /PRNewswire/ --  BetDEX Labs Inc. (or "BetDEX") today announced that the BetDEX Exchange will officially launch on Solana mainnet on November 17 to coincide with the beginning of the 2022 World Cup. As the first fully-licensed sports betting exchange built on a blockchain, the platform will be accepting real-money wagers on soccer. As part of the launch, BetDEX Exchange will not be charging any fees for wagers placed on World Cup matches.

Varun Sudhakar, CEO and Co-Founder of BetDEX, commented on today's news: "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're looking forward to onboarding members into a booming space.  Launching just ahead of the world's premier sporting event is an exciting moment as our community can wager on matches throughout the duration of the World Cup and beyond."

The BetDEX Exchange recently became the first fully-licensed regulated sports betting exchange on blockchain. Under the Online Gambling Regulation Act (OGRA), the BetDEX Exchange received licensed approval from the Isle of Man for all forms of online gambling and gaming, including online sports betting. The platform currently accepts wagers from countries throughout Europe, Asia, South America, and Africa. The fully non-custodial exchange is built on the Monaco Protocol.

The BetDEX Exchange is continuing to expand its offering both in terms of territories where it is available and wagering capabilities. The BetDEX Exchange is expected to accept wagers on tennis and cricket, in addition to soccer, in 2023. Since the launch of its open beta in early October, the BetDEX Exchange has accepted wagers from over 12,000 early access members. A "beta" tag will remain on the exchange until 2023, but customers will be able to wager real money immediately upon launch. The company has focused on international markets at launch and continues to explore regulatory approval in various additional countries around the world.

Additional information regarding the BetDEX Exchange, please visit: https://www.betdex.com/.

About BetDEX

BetDEX Labs Inc. ("BetDEX"), developed by former FanDuel founders and early employees, is a web3 company backed by Paradigm and FTX building open source technology for global prediction markets. The BetDEX Exchange, powered by BetDEX, is a sports betting exchange built on the Monaco Protocol allowing for peer-to-peer wagering. The Exchange is licensed and regulated under the jurisdiction of Isle of Man via the Gambling Supervision Commission. BetDEX is a key contributor to the Monaco Protocol, a permissionless decentralized and open-sourced protocol built on the Solana blockchain, supporting prediction and betting markets. For more information, visit: https://www.betdex.com/.

Media ContactDillon AraceM Group Strategic Communications (on behalf of BetDEX)[email protected]

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