FanDuel co-founders Nigel Eccles and Rob Jones have launched BetHog, a cryptocurrency-powered casino and sportsbook available globally with “a number of jurisdictional restrictions” including the US and UK.
The platform has backing from 6MV, Bullpen Capital, and other investment groups as part of a $6 million seed round announced Tuesday, Nov. 12.
The project from the FanDuel co-founders is unavailable throughout the US because it is licensed and registered in Belize. It primarily targets Asia and Latin America, a spokesperson said.
BetHog will work on US and UK access in 2025.
FanDuel founders turn to crypto
BetHog players fund their accounts with cryptocurrencies like Bitcoin, Ethereum, Solana, and Tether. Funding via cryptocurrency allows players to bypass the “legal tender” requirements many states use to define gambling, avoiding taxes, fees, and the regulatory scrutiny unique to every state.
State-by-state gambling laws and unclear federal regulations have paved the way for alternative gaming models. The Supreme Court’s repeal of PASPA sparked a surge in gambling, an industry with high barriers to entry, like taxes and fees. These alternative models have gained investment interest by bringing gaming to states where online gambling is not legal.
“The crypto casino market has seen dramatic growth over the past few years driven by innovations like provably fair games, robust VIP programs and streaming,” Eccles said in a press release. “With BetHog, my goal is to innovate even further by bringing unique and highly visual games to market. I want to offer users unique play-along and skill-based titles, combined with a robust VIP offering, but most of all, this is about maximizing fun for our users!”
BetHog features a variety of casino games powered by prominent gaming vendors such as Pragmatic and Evolution.
Work since 2017
Eccles and Jones left FanDuel in 2017 and are suing the former board for breaching fiduciary duties to its shareholders.
After leaving FanDuel, they launched several tech ventures together, including a direct-to-consumer music platform and influencer-focused social network.
