A brand-new sportsbook and casino focused mainly on cryptocurrency, BetHog, was launched last week. The owners also co-own FanDuel, and it is said to launch in good time, as the market for cryptocurrency reaches an all-time high.

BetHog, a new cryptocurrency-based sportsbook and casino, has officially launched in select regions. The timing coincides with Bitcoin reaching an all-time high of $91,205.99 on Thursday, following the election of Donald Trump as the 47th President of the United States. Analysts are speculating that the cryptocurrency market could see further gains, with Bitcoin potentially surpassing $100,000 by the end of the month, driven by expectations of reduced regulatory hurdles under the new administration.

A visionary duo behind BetHog

BetHog is the brainchild of Rob Jones and Nigel Eccles, who were part of the founding team behind the renowned FanDuel sportsbook. Drawing on their experience in the gaming industry, the duo aims to create a cutting-edge platform that merges the excitement of gaming with the advantages of blockchain technology.

The crypto casino market has experienced phenomenal growth in recent years due to innovations like provably fair games, live streaming, and robust VIP programs, Eccles said in a statement. He added that with BetHog, his goal is to push the boundaries even further by offering unique, highly visual games and immersive play-along experiences. They are combining skill-based titles with a premium VIP experience to maximize fun for their users.

Exclusive games and blockchain integration

BetHog was developed over a 10-month period and features a mix of exclusive and third-party games. Some of its proprietary offerings include Thermonuclear Boars (Mines), HODL (Crash for meme coins), as well as Liar’s Dice. The platform also offers popular titles from gaming giants Pragmatic Play and Evolution.

Built on the Solana blockchain, BetHog leverages the platform's speed and efficiency for its operations. Its PvP titles are powered by SOL tokens, while the casino accepts a range of cryptocurrencies, including Bitcoin, Tether, and Ethereum. This multi-crypto support ensures broad accessibility for users within the crypto ecosystem.

Backed by $6 million in funding

The launch of BetHog has been bolstered by a $6 million funding round led by 6MV venture capitalists specializing in gaming investments. Other contributors include Will Ventures, Karatage, and angel investors such as Chris Grove, partner emeritus at Eilers & Krejcik, and Josh Hannah, who is the co-founder of Flutter Entertainment.

6MV’s General Partner, Serge Kassardjian, expressed his optimism about the platform's potential. He says that BetHog is perfectly positioned to unlock a massive opportunity in the online gaming space. By creating a differentiated and engaging gambling experience, it has the potential to attract both crypto enthusiasts and traditional gamers.

The funding will primarily be used for product development and establishing strategic partnerships, ensuring that BetHog remains competitive in the rapidly growing crypto casino sector.

Global expansion plans

At present, BetHog is unavailable in the United States and much of Europe. However, reports suggest that the company is exploring opportunities to expand into these markets "where feasible." The platform operates under a license issued in Anjouan, a jurisdiction off the African coast in the Indian Ocean.

BetHog enters a competitive market that includes other blockchain-based platforms like BetDEX Exchange, a sportsbook based in Scotland that launched in May. Its licensing in Anjouan follows a trend in the crypto gaming industry, as seen with MetaWin, another cryptocurrency casino that operates under the same regulatory framework.

Security in the spotlight

The launch of BetHog comes amid heightened scrutiny of crypto casinos following a high-profile hack involving MetaWin. The platform based in London suffered a $4 million loss just weeks ago, raising concerns about cybersecurity in the sector. BetHog’s reliance on Solana, known for its secure and efficient blockchain infrastructure, may provide reassurance to users wary of potential vulnerabilities.

As the cryptocurrency market reaches new heights, BetHog aims to carve out a distinct niche in the gaming industry. With a focus on innovation, exclusive games, and a user-friendly experience, the platform is designed to attract a diverse audience of gamers and crypto enthusiasts alike.