RoBET awarded Isle of Man blockchain sports betting licence

28 October 2019

RoBET, a tech startup led by serial entrepreneur Edoardo Narduzzi, has become the first decentralized, blockchain based sports betting business licensed by the Isle of Man Gambling Supervision Commission (GSC).

RoBET is an innovative platform able to manage all processes of the sport betting business through smart-contracts using Ethereum framework. The company has just open its activities offering the possibility to bet on 17 different sports worldwide and covering 47 different national soccer championships. Customers can use the platform using three different digital assets: RoBET own token, RAC, Eth or Bitcoin.

During the first quarter of 2020 RoBET will launch two new services: "Become a Bookie"  fully based on smart-contract to associate potential partners in the management of a digital bookmaker agency; Artficial Intelligence engine to provide best odds and to suggest the optimal risk-return betting strategy for each customer based on his or her specific needs or goals.

RoBET has been supported and assisted by SolutionsHub a leading consulting company in the crypto field.

Edoardo Narduzzi, Founder of RoBET, commented: ‘Being granted the first blockchain sports betting license is an enormous achievement. RoBET is a smart-contract decentralized, blockchain-based ecosystem for sports betting, utilising artificial intelligence to help customers handle risk management, odd evaluation and odd comparison.

Nick Wright, COO at SolutionsHub, added: ‘We are delighted to have supported RoBET. The innovative nature of the technology and business model presents interesting challenges from a regulatory perspective, but as ever, we have worked closely with the GSC who have been very receptive and supportive, while ensuring the calibre of the licensee is suitable for the Isle of Man. The Isle of Man is proving to be the go-to jurisdiction for legitimate blockchain betting businesses due to its international reputation, speed to license within the publicised time-frames, cost effectiveness, and ability to engage with the regulator in meaningful, open and transparent dialogue.’

Lyle Wraxall, CEO of Digital Isle of Man, commented: "Digital Isle of Man is delighted to welcome RoBET to the Isle of Man as the first blockchain sports betting operator in our jurisdiction. The Isle of Man continues to grow its community of top-tier blockchain and crypto betting businesses and proactively seeks to meet the needs of innovative businesses. We look forward to supporting RoBET throughout their growth in the Island."