Two FanDuel co-founders raised $6m and launched a new crypto casino named BetHog, producing some games in-house. [Image: Shutterstock.com]

FanDuel co-founders Rob Jones and Nigel Eccles, who departed the company in 2017, have raised $6m and launched a new global cryptocurrency-only gambling site named BetHog.

Jones’ and Eccles’ initial target markets are Latin America and Asia users before potentially considering expansion into the US. Leveraging popular gambling live streamers and crypto-focused social media influencers is a key part of their customer acquisition strategy.

they believe most online casinos on the market are largely the same, offering identical games

An in-house team makes some of the games, a move BetHog hopes will create a devoted player base and open up potential licensing opportunities down the line as they believe most online casinos on the market are largely the same, offering identical games. An example of an in-house production is HODL!, a crash game with a meme coin trading theme.

Among the reasons for the focus on cryptocurrency is Eccles’ fear of relying on payment companies that can withdraw their services at the drop of a hat.

He referenced a meeting with PayPal when he was still at FanDuel in which a risk officer of the e-wallet platform questioned if it would continue doing business with the operator. Another issue is credit card fees, so BetHog is focusing on cryptocurrency to keep things simple.