DuelNow Raises $11 Million to Revolutionize Decentralized Sports Betting

DuelNow has announced a significant milestone in the realm of decentralized sports betting with the securing of $11 million in funding. The investment includes a $10 million commitment from GEM Digital Limited, complemented by an additional $1 million from notable industry angel investors. Among these investors are prominent figures such as Charlie Lee, the creator of Litecoin, Richard Ma, the founder and CEO of Quantstamp, and Billy Markus, the creator of Dogecoin.

This substantial funding signals a pivotal moment in the sports betting industry, emphasizing the growing demand for decentralized betting solutions. DuelNow is leveraging the Ethereum Layer-2 blockchain, Arbitrum, to deliver a peer-to-peer betting platform that promises absolute transparency and lightning-fast transaction speeds. By eliminating the traditional house advantage, DuelNow aims to offer lower fees and higher payouts, creating a more user-focused experience.

The $11 million investment will enable DuelNow's team to focus on growth, increasing awareness, and establishing the platform as a market leader. Bettors can expect a heightened sense of control, freedom, and fairness in their betting experiences. DuelNow's platform will disrupt traditional betting practices by eliminating cumbersome sign-up processes, unfavorable odds, financial barriers, and inflexible user experiences.

Initially, fans of NFL, MLB, NBA, and MMA can utilize DuelNow to create a customized betting experience that removes the house edge. As the platform evolves, additional sports will be incorporated to broaden its appeal. This move is seen as a significant step in redefining standards in crypto gambling and blockchain-based betting.

The on-chain sports betting market is gaining momentum, with industry influencers like Mike Ippolito, Co-Founder of Blockworks, and AltcoinPsycho expressing positive sentiments about its potential. DuelNow's commitment to listing new sports and offering personalized betting options aims to empower users further, fostering a marketplace where bettors feel in control and valued.

In summary, DuelNow's recent funding round is poised to transform the sports betting landscape by promoting a decentralized, transparent, and user-centric model. This development is likely to attract bettors frustrated with traditional betting platforms and eager for more equitable and flexible betting options.