Dubbed ‘Betfair for Bitcoin’, Exbet is the first full-featured and licensed betting exchange to use the popular cryptocurrency as its native payment option.
It launches with a one percent flat rate commission, significantly undercutting rival exchanges.
Users can trade across all major soccer leagues, NFL, and cricket’s IPL, with additional sports and leagues, including the NBA, to be added in 2020 and beyond.
Exbet also provides API integration for algorithmic trading and third-party tools, and is already seeing encouraging pre-match liquidity on its markets.
David Evans, Exbet COO, said: “With the sporting calendar back on track, we are thrilled to launch Exbet, the world’s first fully-featured and licensed Bitcoin betting exchange. Betting exchange users have, for too long, been neglected by a handful of operators more focused on short-term gains than the long-term health of the vertical.
“We see considerable opportunities at the intersection of blockchain and betting exchanges, with many cryptocurrency users already familiar with exchange mechanics.
“This new audience, combined with a growing number of exchange veterans and market makers switching to Bitcoin for our low commission rate, means we can offer strong pre-match liquidity immediately.”
The launch of Exbet will be supported by a range of marketing activities over the coming months, as the platform looks to build in-play liquidity.