BetDex is an exciting new betting exchange that is looking to redefine the sports betting exchange landscape with its innovative, decentralized platform built on blockchain technology.
They’re making some bold promises for sports bettors around the world (particularly the winners).
New technology is allowing them to do things that other betting platforms can’t so in this article, we’ll share our perspective after a deep dive into what’s on offer.
A few key points of interest will be:
- Winner Welcome Policy
- Low Commission (Net Profit Only)
- No Premium Charges or Stake Limiting
- Liquidity – The BetDex EcoSystem
- The Deposit and Withdrawal Process
Let’s dig into this in further detail with our BetDex review…
BetDex Review: A New Way of Doing Things?
BetDEX is a new kind of sports betting exchange that uses blockchain technology to create a transparent and user-friendly experience. Founded by experts who previously worked on big names like Betfair and FanDuel, BetDEX aims to disrupt the betting industry and change how betting exchanges work. Its goal is to make sports betting fair and accessible for everyone, without worrying about restrictions or unfair practices.
Unlike traditional exchanges, who penalise successful bettors and hide their processes – BetDEX uses a decentralized system. This means users have control, and all transactions are open and secure. Whether you’re a casual bettor looking for better odds or a professional seeking a platform that supports winners, BetDEX offers a straightforward and attractive option designed with bettors in mind.
If you would like to know more about the technology behind BetdDex there is an excellent article “What’s BetDEX Built on?“
How to Join BetDex Exchange?
Signing up to BetDEX is easy. If you’re using a VPN or not it doesn’t matter, you just need to register some basic address details and you’re away…
Funding your account is done via a third-party payment processor so BetDEX don’t have access to your personal financial statements. In recent years this has been a massive problem for some players as the companies clearly use KYC checks to restrict winning.
The website has an easy-to-use layout that lets users easily explore different sports markets and betting options:
The homepage shows active betting markets clearly, and a sidebar menu offers quick links to account settings, betting history, and customer support. The interface feels familiar to those who’ve used platforms like Betfair or Smarkets but with the added advantage of blockchain transparency.
What Countries is BetDex Available in?
Currently, BetDEX is available in the following countries:
- Ireland
- Germany
- Brazil
- Canada
- Plus many more across Europe, South America and Africa
BetDEX is expanding its licensing to more regions, but its current regulatory approvals already assure users of a safe and legitimate platform. This regulatory backing, along with its decentralized setup, makes BetDEX a secure and transparent choice for bettors seeking a trustworthy exchange.
Sports and Markets Covered by BetDEX
Currently, there are five sports that you can bet on with BetDEX.
- Football (Soccer)
- Tennis
- American Football
- Baseball
- MMA (Mixed Martial Arts – UFC etc)
Again given that BetDEX are a fairly new betting exchange, more sports and markets will be added as time goes by.
In terms of the markets that you will find currently on BetDEX, they are mostly focused on bigger markets at the moment. If we look at today’s UEFA Nations League between France and Italy. The following markets are offered – Match Odds, Both Teams to Score and Over/Under 2.5 Goals.
No Premium Charges or Stake Restrictions For Winning…
One of the standout features of BetDEX is the promise of no additional premium charges or stake restrictions. These are factors that affect a lot of successful exchange users.
This could make BetDEX a real game-changer. It is starting to become common knowledge that in the betting world, successful players often find their bets restricted or get banned. BetDEX changes that by welcoming successful bettors without penalties. Unlike traditional bookmakers that limit bets to protect their profits, or exchanges that penalize winners eventually.
No restrictions or limits means bettors can play confidently, knowing their success won’t be restricted!
BetDEX Commission Rates Explained:
BetDEX offers a competitive fee structure, charging only a 3% commission on profits. This clear approach helps bettors keep more of their earnings, making it appealing to everyone. During special promotions, users can even enjoy 0% commission on trades, adding more value.
Unlike other exchanges, BetDEX doesn’t charge extra fees for long-term winners, showing they truly care about the bettor’s experience.
Deposit and Withdrawal – A Simple Process
One of the most common complaints about the current sports betting landscape is the deposit and withdrawal process. More so the exploitation of this process by bookmakers in order to withhold sums of money from winning players and make verification on withdrawal extremely difficult.
BetDEX makes withdrawing money easily by removing the usual obstacles found on many betting sites. Users can withdraw funds without having to go through complex KYC (Know Your Customer) checks for deposits under $3000. This is great for those who value privacy or have faced delays elsewhere. By simplifying withdrawals, BetDEX ensures quick and hassle-free access to funds, showing its commitment to user satisfaction.
You can deposit funds to BetDEX using the following methods:
- Credit Card
- Debit Card
- Crypto (USDC Solana)
When you want to withdraw your money you simply request the amount and method you want.
BetDEX Liquidy and Protocol
Currently, liquidity on BetDEX is lower than that of the more established exchanges. This is to be expected because it is currently building its customer base.
BetDEX is aware that liquidity is crucial for any betting exchange. It manages this through its innovative Monaco Protocol. Using a decentralized, open-source system, BetDEX keeps markets liquid and accessible, even as it grows. The protocol uses automatic market makers (AMM) to adjust prices based on supply and demand, making it easy for users to enter and exit positions. For short-term scalp traders this liquidity is crucial.
For those interested, we will publish a separate article about the Monaco Protocol soon.
One of the most interesting things here is how accessible the liquidity pool has become. With players all around the world in different jurisdictions betting into one fluid betting pool, it makes for a fart stronger (and more sustainable) product. Its early days right now but historically, liquidity has been the number one problem for new betting exchanges. It’s an exciting prospect!
BetDEX also rewards liquidity providers, who help maintain market depth. This method supports platform growth and provides users with a dependable betting experience with an always-available market
How Secure is BetDEX Exchange?
BetDEX puts a strong emphasis on security by using blockchain technology to protect user transactions and funds. The platform employs smart contracts within the Monaco Protocol to ensure that bets are carried out fairly and transparently.
These smart contracts automatically match and settle bets based on set rules, eliminating any chance of interference or manipulation. This level of security offers a major advantage over traditional exchanges, which often lack transparency and can raise doubts about the fairness of the betting process.
BetDEX Community and Support Options:
BetDEX offers excellent customer support through various channels like email, social media, and active communities on X and Discord. The support team is known for being quick to respond and helpful with user questions and issues. They also have a detailed FAQ section that covers everything from setting up an account to advanced betting tips, making sure users have all the information they need to enjoy the platform.
BetDEX are actively building a strong community by encouraging user interaction through social media and forums. The platform hosts events, promotions, and discussions, allowing users to connect, share insights, and offer feedback. This active community not only improves the user experience but also helps the platform grow by incorporating user suggestions into updates and features.
Our BetDEX Review Conclusion:
The future looks promising! Although liquidity is still growing and some additional features are needed, it’s a solid thumbs-up from us – we’ll be keeping an eye on this one closely.
In this BetDEX review, we have covered how the company is paving the way for the future of sports betting with its focus on transparency, security, and user experience through blockchain technology.
It offers unrestricted stakes, low and clear fees, expanding market options, and strong community support, all tailored for bettors. If you’re tired of the limitations of traditional exchanges or want a modern, user-friendly platform, BetDEX is worth checking out. As it grows and innovates, BetDEX aims to lead the sports betting industry, providing a truly fair and rewarding experience for all its users.
Related: BetDEX Information HUB