Add Sports Betting Innovator Launches Brand-new Start-up

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 <br>[sports betting](https://unightlifetalk.site/read-blog/2638_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) wagering innovator launches brand-new start-up<br>
 <br>17 November 2021<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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 <br>About sharing<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>By Douglas Fraser<br>
 <br>[Business](https://vishwakarmacommunity.org/read-blog/7944_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) and economy editor, Scotland<br>
 <br>One of Scotland's most  teams is starting again with a brand-new company - and has actually protected the most significant initial financial investment of any British start-up [business](https://social.myschoolfriend.ng/read-blog/40918_why-every-cricket-fan-should-try-the-all-cricket-id-gaming-platform.html).<br>
 <br>BetDEX is being led by Nigel Eccles, who co-founded dream [sports betting](https://chateando.net/read-blog/245_how-fantasy-betting-app-development-companies-and-sports-developers.html) website FanDuel in 2009 in Edinburgh.<br>
 <br>The new firm has seed funding of $21m.<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
 <br>It intends to launch a brand-new open source software application platform, on which others can innovate in [sports betting](https://drapia.org/11-WIKI/index.php/User:HeidiDymock47) wagering, in the first half of next year.<br>
 <br>The company is [hiring staff](https://pittsburghpenguinsclub.com/read-blog/11547_compare-amp-review-oddsjet-de.html) from a base in Scotland.<br>
 <br>FanDuel was offered to Flutter - formerly named Paddy Power Betfair - in 2018 and is now worth more than $30bn.<br>
 <br>However, Mr Eccles and other co-founders remain in legal disagreement with FanDuel's later phase investors over the method in which they structured a takeover, which left the Edinburgh team without a share of the rising valuation.<br>
 <br>Mr Eccles said that a person thing he discovered from the [FanDuel experience](https://social.myschoolfriend.ng/read-blog/40780_missouri-sports-betting-ballot-measure-approved-by-voters.html) was to choose financiers thoroughly.<br>
 <br>He informed BBC Scotland: "We took a great deal of lessons from that, one of which was the value of who we select as investors in this new service, to ensure their values are aligned with ours, that they take their fiduciary tasks responsibly, which they're the right partners for us."<br>
 <br>The $21m seed financing for BetDEX consists of stakes taken by 7 backers of US innovation companies, including two big [funds -](https://linkin.commoners.in/read-blog/25767_things-you-need-to-understand-about-rafting-adventures.html) [Paradigm](https://jamboz.com/read-blog/336_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) and FTX - which specialise in buying business operating with crypto-currencies.<br>
 <br>Varun Sudhakar, president of BetDEX, stated: "The [sports betting](https://social.concienciacasanare.com/read-blog/16_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) wagering market charges high prices for poor products and limits trades by its most effective users.<br>
 <br>"BetDEX is diametrically opposed to this [technique](https://demo.wowonderstudio.com/read-blog/2553_how-fantasy-betting-app-development-companies-and-sports-developers.html). We will effectively compete against incumbents with a [considerably superior](https://social.japrime.id/read-blog/23437_sport-betting-industry-looks-to-protect-itself.html) [product](https://jimsusefultools.com/index.php/User:LasonyaDaughtry) and low fees, which is now possible with the development of the blockchain innovation."<br>
 <br>As chairman of the brand-new firm, Mr Eccles said it might look familiar to retail punters utilized to existing online firms.<br>
 <br>'Pool of skill'<br>
 <br>However, he says that those who use its platform to run their own wagering firms will have the ability to innovate and produce a broader series of wagering products.<br>
 <br>He said the normal share taken by online bookies is 7% to 10% of a stake, but BetDEX ought to enable that to fall below 1%.<br>
 <br>The company will establish its own [sports betting](https://accc.rcec.sinica.edu.tw/mediawiki/index.php?title=User:ReinaYancey) apps to operate on the platform.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>Mr Eccles stated these would take an "smart, thoughtful" approach to the way they are marketed to safeguard those who have problem with problem [sports betting](https://palkwall.com/read-blog/27730_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html).<br>
 <br>He said the team of around 500 software engineers who assisted develop FanDuel from Scotland showed that it stays the place to construct a firm. BetDEX has the exact same head of technology, Stuart Tonner.<br>
 <br>"A great deal of that [FanDuel] [success](http://wiki.die-karte-bitte.de/index.php/Benutzer_Diskussion:LucaWarby634) was [constructed](https://kenyansocial.com/read-blog/1335_the-history-of-the-nfl-and-how-to-bet-on-it.html) on a highly knowledgeable, extremely talented engineering team, that developed this product that could process millions of bets and millions of users.<br>
 <br>"There's a real skill pool of experienced engineers who helped us build our item and that's what we want to leverage for BetDEX also."<br>
 <br>Related subjects<br>
 <br>Edinburgh<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
 <br>[Sports betting](https://www.oscommerce.com/wiki/User_talk:StanForest604)<br>
 <br>More on this story<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>[Paddy Power](http://titotit.com/xe/?document_srl=722272) [purchases fantasy](https://origintraffic.com/read-blog/1681_just-how-much-are-americans-spending-on-sports-betting.html) [sports betting](https://kiigasofthub.com/read-blog/10119_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) website<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>23 May 2018<br>
 <br>FanDuel [creator leaves](https://richonline.club/read-blog/4347_how-to-withdraw-from-bet9ja-8-step-guide-to-cash-in-your-wins.html) business<br>
 <br>Published<br>
 <br>20 November 2017<br>