DuelNow, a blockchain-based sports betting platform, has just secured a significant $11 million investment to revolutionize the way people bet on sports. The funding, led by GEM Digital Limited with a $10 million commitment, along with an additional $1 million from notable figures in the cryptocurrency world, is set to propel DuelNow to the forefront of the industry.
By leveraging the Ethereum Layer-2 blockchain, Arbitrum, DuelNow aims to create a peer-to-peer sports betting environment that eliminates the traditional “house” element, offering users a transparent and user-focused experience. This technology promises to reduce fees, increase payouts, and provide bettors with more control and fairness in their betting activities.
With the fresh capital infusion, DuelNow plans to scale operations, increase user awareness, and establish itself as a leader in the market. The platform is focused on reshaping the sports betting landscape by cutting out cumbersome sign-up processes, unfair odds, and inflexibility often associated with traditional betting shops and websites.
Currently offering its platform for major leagues such as the NFL, MLB, NBA, and MMA, DuelNow provides a customizable betting experience that challenges the status quo by removing the house advantage. The platform’s roadmap includes the introduction of additional sports and betting options, demonstrating a commitment to continuous improvement and responsiveness to user needs.
The positive sentiment around on-chain sports betting is growing, with industry figures like Mike Ippolito and AltcoinPsycho recognizing the potential for decentralized platforms to disrupt traditional betting paradigms. Investors are also excited about DuelNow’s potential to democratize sports betting and bring much-needed transparency and empowerment to the sector.
As DuelNow continues to innovate and expand its offerings, the future of sports betting looks set to be transformed by blockchain technology. Stay tuned for more updates on this exciting development in the world of online betting.
