New Crypto Sportsbook BetHog Debuts Amid Record-Breaking Bitcoin Surge

New Crypto Sportsbook BetHog Debuts Amid Record-Breaking Bitcoin Surge

By Michael Harrison

November 20, 2024 at 07:15 AM

A new cryptocurrency-focused sportsbook and casino, BetHog, has launched in select regions, coinciding with Bitcoin's record surge above $90,000 following Donald Trump's election as the 47th US president.

Two men viewing mobile FanDuel app

Two men viewing mobile FanDuel app

Founded by FanDuel co-founders Nigel Eccles and Rob Jones, BetHog secured $6 million in initial funding led by gaming-focused venture capital firm 6MV, along with several other investors including Will Ventures, Bullpen Capital, and industry experts.

The platform operates on the Solana blockchain and accepts multiple cryptocurrencies including Bitcoin, Ethereum, and Tether (USDT). It features exclusive games like HODL, Thermonuclear Boars, and Liar's Dice, alongside offerings from Pragmatic and Evolution.

Key Features:

  • Built on Solana blockchain
  • Exclusive proprietary games
  • Multiple cryptocurrency payment options
  • Provably fair games
  • VIP programs
  • Streaming capabilities

Currently, BetHog operates under an Anjouan license and is not available in the US or most of Europe, though future expansion is planned where regulations permit. The launch follows BetDEX Exchange's entry into the crypto sportsbook market in May.

The platform's development comes amid growing interest in cryptocurrency gambling, despite recent security concerns highlighted by the $4 million hack of MetaWin casino. Analysts predict Bitcoin could reach $100,000 by month's end, potentially driven by anticipated cryptocurrency deregulation under the Trump administration.

The company plans to use its funding for product development and strategic partnerships, aiming to create an innovative platform that appeals to both crypto and traditional gamblers.

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