Betswap.gg launches in beta

The platform bills itself as the world’s first decentralised crypto-based peer-to-peer betting exchange.

Curacao.- Betswap.gg, which bills itself as the world’s first decentralised peer-to-peer betting exchange, has launched in beta. The platform is making bold claims that it will break the monopoly of high-profile sportsbooks through use of blockchain technology.

The platform raised $18.3m in a seed funding round in January and has attracted investment from Shima Capital, M6, DSA, and Wonderland. Its core business model is now live, although there is a lot left to be developed. The company says it will introduce more games and a centralised exchange listing by the end of the year.

Betswap aims to provide decentralised, unrestricted access to bets globally, with players able to use the service without registering verification documents, something which sounds like it won’t be long to attract the ire of regulators.

Betswap says it also allows players to bet against each other while paying lower fees than with traditional bookmakers. It claims to never hold user funds beyond ongoing bets.

BETSGG spokesperson Romy Jasmine said: “For the first time, a bettor will be able to own a piece of their own platform… and have a voice in the protocol’s long-term strategic direction.”

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