BetProtocol’s technology is ready to launch online gaming platforms today.
We are thrilled to announce that our first platform will be launching in the coming weeks. The BetProtocol team has been working tirelessly on our technology & product offerings, and with our compliance partners to make our first platform launch a reality.
Ever since we started our company in 2017, we have been dreaming of the day we could deploy our first online gaming platform. That day is drawing ever closer!
We had in the past promised that our first platform would be out by now. However, in order to be compliant with online gaming regulations we depend on various third-party partners, operator partners who have to fetch and physically mail notarised compliance documents, certification partners that have to make their checks, and so on. With many cities and countries around the world on lockdown due to COVID-19, our partners have experienced delays. Therefore we are pushing our launch date back by some weeks.
In contrast, development always continues!
COVID-19 has caused a massive disruption worldwide in the economy, and although we are a full-remote software company, we nonetheless depend on others to do business. Unfortunately due to the coronavirus pandemic we will be delaying the launch of our first platforms, until sometime in April. Depending on the level of economic disruption with some of our partners, the delay could be longer. We simply can’t predict with any more accuracy a situation like this that is constantly changing.
We previously promised in late 2019 that we would be launching our first platforms in Q1 of 2020. However at that time we could not have predicted that a global pandemic would sweep the world and bring the economy to a crashing halt. We can only be grateful that we are all still healthy and that we have enough runway to last us years. Hopefully this crisis will be long gone by summer. We remain cautiously optimistic.
BetProtocol hopes everyone is staying safe in these troubled times around the world due to the COVID-19 pandemic.
It is times like these we must set aside our differences and fight a common enemy: the virus. The way we do so is to prepare ourselves, our families and communities, and most of all practice good hygiene and social distancing.
BetProtocol’s COVID-19 Contingency Plan
Hope for the best; Plan for the worst.
Sequoia Capital says that the coronavirus pandemic is the black swan of 2020. In their blog post to their portfolio companies they point out some strategies to harden companies against the trials that are coming. We read this post and took their suggestions to heart, and as a result we have:
- Stockpiled critical supplies, safety equipment, and other necessities
- Hardened technical and financial infrastructure
- Ensured long-term runway and cash reserves by cutting certain costs
- Updated our sales and business plan projections to account for a recession and/or depression
- Doubled-down on our sales efforts
- Automated certain processes to be more robust and less dependent on human intervention
- Shifted even more towards Esports and Casino development and de-prioritised Sportsbook (you can’t have sports betting without live games)
- Developed a NEW gaming module to attract a different demographic and opening up a new avenue for sales (more on this in a separate post)
- Continue full remote operations and suspended all in-person meetings for all staff
- The launch of our first platforms is delayed by some weeks due to COVID-19’s affects on some of our partners.
- Despite this, our technology is ready to launch platforms today.
- BetProtocol’s COVID-19 Contingency Plan has been activated
- We are doing great, we are prepared for the worst, we are hoping for the best.
- We hope you all stay safe. Thanks for your continuing support!
BetProtocol enables anyone in the world to create gaming platforms with no coding required. Thanks to BetProtocol’s blockchain technology, these platforms are secure, scalable and regulatory compliant. Its vision is to enable anyone in the world to dream of being a gaming platform owner one morning, and actually be one that same day.