DuelNow, an emerging force in the decentralized sports betting space, is proud to announce a major financial milestone with a $10 million investment from GEM Digital Limited, as well as additional investment from an influential consortium of industry angel investors. $1 million investment. This injection of funds marks a critical moment in the player-first betting market. The list of investors includes big names like Litecoin’s Charlie Lee, Quantstamp’s Richard Ma, and the mastermind behind Dogecoin Billy Markus, as well as other notable investors like Crypto Rand, Mooncat, Marc van der Chijs, and more.
Using blockchain to empower gamblers:
This huge amount of financial support sends a strong signal to the entire gambling industry: decentralized sports betting is not a new thing and is here to stay. DuelNow leverages Arbitrum, the highly regarded Ethereum layer 2 blockchain, to foster a true peer-to-peer gambling environment. This technology ensures unparalleled transparency and fast transaction speeds, prioritizing the punter experience by effectively eliminating the traditional “bookmaker” element, resulting in lower fees and increased payouts. The new $11 million in capital will be used strategically to drive DuelNow’s growth, increase its market share and solidify its market leadership, while championing broader adoption of blockchain technology to enhance the sports betting space.
DuelNow sets a new standard in the crypto gambling and blockchain gambling space by eliminating cumbersome registration procedures, unfair odds, financial exclusivity, and poor user experience. This approach attracts the attention of disillusioned gamblers who demand better from traditional betting shops and websites. Currently, the platform caters to fans of major sports leagues such as the NFL, MLB, NBA and MMA, offering a tailored betting experience that eliminates the house edge. As the platform grows, plans are underway to expand sports offerings.
According to GlobeNewswire, the on-chain sports betting market is growing rapidly, driven by the success of platforms such as Polymarket. Figures such as Blockworks co-founder Mike Ippolito and AltcoinPsycho have recently expressed optimism about the emerging space.
Expectation:
DuelNow is committed to offering a variety of sports and customized betting options to personalize competition. This move could change the way real-life friends participate in P2P sports betting on their favorite sports. The overall goal is to foster a market where bettors are not just participants, but have a significant say in the process, ultimately feeling a greater sense of control and fairness in their betting activities. Thanks to the recent financial support, those who partner with DuelNow in the short term will witness a transformative shift in the crypto sports betting landscape.
DuelNow’s move is part of a larger trend in venture capital investment in the Web3 gambling space, as evidenced by increased activity on platforms such as Polymarket. With Polymarket’s trading volume exceeding $1 billion, largely thanks to bets on the outcome of the U.S. presidential election, blockchain’s potential to redefine online gambling continues to grow. According to industry analysts, the global online sports betting market will expand significantly, thanks to blockchain’s ability to reduce transaction costs and increase transparency.
