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Cape Town-based BetVIP, has announced the launch of a bitcoin sports betting platform under a Curacao licence.
South African firm BetTech powers the platform that is mainly focused on the Asian and European markets where BetVIP says bitcoins are more widely used.
Founder of BetVIP, Daniel Schwartzkopff told Business Day "the licence adds legitimacy to the sportsbook, improving its long-term prospects."
"As bitcoin becomes more popular there will be moves to regulate the space, so we thought we would rather stay ahead of the curve," he said.
BetVIP offers pre-match and in-play wagers on both web and mobile platforms.
Founder Daniel Schwartzkopff is a South African serial entrepreneur who also serves as a director at DataProphet, a consultancy that specialises in solving prediction problems in the financial industry. He is also a producer at Doublethink Pictures and serves as founder and managing director of COLV, a credit card location verification company. He founded and acts as chief executive officer of free telecoms start-up FSMS.co.za, a venture capital-backed company that provides mobile advertising and market research.
Schwartzkopff attended the University of Cape Town graduating with a BEng. Hons. (Chemical), Chemical Engineering in 2010.
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