DuelNow, a decentralized sports betting market, closed an $11 million funding round led by GEM Digital Limited.
Investors such as Charlie Lee, Billy Markus, Richard Ma, Marc van der Chijs, HardBank, Jonathan Lee, Joseph Cheong, Ethan Yau, and Dean Thomas also participated.
DuelNow touts itself as a decentralized peer-to-peer betting platform designed to achieve lower fees and higher payouts by taking the house out of the equation.
The platform currently serves “NFL, MLB, NBA, and MMA fans” and plans to add additional betting products in the future, the company said.
By removing the intermediary, DuelNow aims to reduce fees and increase payouts, directly benefiting the end users—sports bettors who seek more control and fairness in their betting activities.
The company plans to use the fresh capital to scale operations, boost user awareness, and establish itself as a leader in the market.
