The world’s first licensed Bitcoin-only sportsbook has officially launched in time for the kickoff of the 2014 FIFA World Cup, but BetVIP is not all about football, according to its founder.
Initiated by South African entrepreneur David Schwartzkopff, BetVIP is not only bringing the much-awaited international football sporting event closer to online sports bettors, but it is also taking the legitimacy and transparency of Bitcoin to the next level by accepting bets for various sports made in regulated markets only.
Although its timely launch, which coincides with the FIFA World Cup, suggests a mere PR stunt, Schwartzkopff has cleared that there is more to his new venture than publicity.
“Our gaming license and strict bet acceptance policy demonstrates our commitment to the longevity of the currency,” he said. “There is a massive opportunity to provide both a secure and reliable platform for bitcoin holders and take on the traditional online sportsbooks.”
According to him, BetVIP plays as an instrument to promote fast transactions and low costs of Bitcoin exchange, which, in turn, will benefit online bettors.
He further explained that the Bitcoin sports betting site is dedicated to provide assistance to the desire of the public to “normalize the currency and bring it into everyday use.”
“We might trade in an anonymous currency, but we are providing complete transparency and accountability in order to build trust with our players,” he added.
Schwartzkopff, who has extensive knowledge and background in start-up and technology ventures, has designed BetVIP to become more legitimate and stable for future plans by acquiring a gaming license from the regulating body of Curacao.
Based in Cape Town and Malta, BetVIP accepts pre-match and in-play wagers for more than 15 sporting events through its betting platform that is available for both Europe-based online and mobile players, who also wish to take advantage of the various betting options available for this year’s FIFA World Cup.