iGaming Business – Online gaming operator BetVIP has launched what it describes as the world’s first licensed Bitcoin-only sportsbook ahead of this summer’s Fifa World cup national team football tournament.
BetVIP.com takes wagers and pays out winnings exclusively in the virtual currency and only accepts bets in regulated markets.
Powered by technology solutions provider BetTech Gaming and accessible online or via mobile device, BetVIP.com offers pre-match and in-play wagering opportunities across hundreds of markets in international sporting events, including the 2014 World Cup, which kicks off tomorrow (Thursday) in Brazil.
All first-time customers will also benefit from a 100% first deposit bonus.
BetVIP is the brainchild of digital entrepreneur Daniel Schwartzkopff, who previously founded telecoms start-up FSMS and DataProphet, a consultancy specialising in solving prediction problems in the financial industry.
Schwartzkopff said that he launched BetVIP in order to allow punters to benefit from the faster transactions and lower costs of Bitcoin exchange.
“Our gaming licence and strict bet acceptance policy demonstrates our commitment to the longevity of the currency,” said Schwartzkopff.
“There is a massive opportunity to provide both a secure and reliable platform for Bitcoin holders and take on the traditional online sportsbooks.