Posted on: November 14, 2024, 07:43h.
Last updated on: November 14, 2024, 07:43h.
A new site, BetHog, was launched publicly in limited regions, providing online players a crypto sportsbook and casino, the company announced this week.
The launch comes as bitcoin hit record highs of over $90K this week (trading at $91,205.99 as of Thursday morning) following the election of former President Donald Trump.
Some analysts predict the price of bitcoin could surpass $100K by the end of the month fueled by speculation the Trump administration will lessen regulations on cryptocurrency.
Principals Are Co-founders of FanDuel
BetHog was founded by Nigel Eccles and Rob Jones, who were among the co-founders of the FanDuel sportsbook.
The crypto casino market has seen dramatic growth over the past few years driven by innovations like provably fair games, robust VIP programs, and streaming,” BetHog Co-CEO Eccles said in a statement. “With BetHog, my goal is to innovate even further by bringing unique and highly visual games to market. I want to offer users unique play-along and skill-based titles, combined with a robust VIP offering, but most of all, this is about maximizing fun for our users.”
The site was launched after a 10-month development period. It features exclusive BetHog games such as HODL (Crash for meme coins), Thermonuclear Boars (Mines) and Liar’s Dice. Other offerings are provided from Pragmatic and Evolution.
The BetHog casino is built on Solana, a blockchain platform. SOL is the token for the company’s PvP titles. BetHog also accepts bitcoin, Ethereum and Tether (USDT).
BetHog received $6M in a first round of funding led by 6MV, a venture capital firm which focuses on gaming. Other participants are Will Ventures, Bullpen Capital, Karatage, Advancit Capital, and several angel investors including Chris Grove, a partner emeritus at Eilers & Krejcik, LLC and Josh Hannah, co-founder of Flutter Entertainment.
The new infusion of money will be used for product development and to work on strategic partnerships.
Serge Kassardjian, general partner at 6MV, said BetHog.is “perfectly positioned to unlock this massive opportunity to build the most innovative online casino and betting platform of this era of crypto.”
“We believe this will bring in a diverse audience of crypto and non-crypto gamers to enjoy this differentiated and fun gambling experience.”
Not Offered in US
For now, BetHog is not available in the US or in much of Europe. But Forbes reported this week eventually BetHog wants to be available to players in these regions “where feasible,” Eccles said.
BetHog is licensed in Anjouan, located in the Indian Ocean off of the African coastline.
The company comes as BetDEX Exchange, a Scotland-based crypto sportsbook, was launched in May.
A few weeks ago, another cryptocurrency online casino, called MetaWin, was hacked, leading to the loss of $4M. The London-based online casino operates through a license also issued from Anjouan.