LONDON: The global online sports betting market is all set to be disrupted by a Scottish company, Mungoparc as it launched on Wednesday, what it claims is the world’s first peer-to-peer sports betting platform involving cryptocurrency, insider.co.uk reports.
Mungoparc’s users can now bet on football matches across Europe using cryptocurrencies such as Bitcoin and Ethereum.
Company founder Paul Roach said the launch has been timed perfectly ahead of the FIFA World Cup 2018 in Russia and that it is targeting a new, tech-savvy generation of young sports punters.
“We’re literally betting big on Blockchain and all the metrics point towards an upwards trajectory in both crypto currency use and sports betting. We know there are a massive amount of people unsure of how to spend their crypto and we think Mungoparc is going to give them a great destination.”
The company is looking to raise $1.35 million through seed funding for accelerated product development. It is also mulling to add sports such as cricket, tennis and eSports to its portfolio.
