Add Sports Betting Innovator Launches new Start-up

Sports Betting Innovator Launches new Start-up.-.md

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+[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)<br>[sports betting](https://wow.t-mobility.co.il/read-blog/50_how-are-betting-odds-calculated.html) wagering innovator launches new start-up<br>
+<br>17 November 2021<br>
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+<br>About sharing<br>
+<br>By Douglas Fraser<br>
+<br>Business and economy editor, Scotland<br>
+<br>Among [Scotland's](https://oolibuzz.com/read-blog/41724_just-how-much-are-americans-investing-in-sports-betting.html) most effective technology groups is beginning again with a brand-new firm - and has secured the greatest initial financial [investment](https://social.instinxtreme.com/read-blog/14711_missouri-sports-betting-ballot-measure-approved-by-voters.html) of any British [start-up](https://profesional.id/read-blog/135_missouri-sports-betting-ballot-measure-approved-by-voters.html) [company](https://younetwork.app/read-blog/8724_the-ins-and-outs-of-betting-on-the-nfl-draft.html).<br>
+<br>BetDEX is being led by Nigel Eccles, who co-founded fantasy [sports betting](https://wow.t-mobility.co.il/read-blog/19_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) website FanDuel in 2009 in Edinburgh.<br>
+<br>The [brand-new company](https://meta.mactan.com.br/read-blog/23711_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) has seed financing of $21m.<br>
+<br>It intends to [release](https://social.ishare.la/read-blog/1463_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) a new open source software platform, on which others can innovate in [sports betting](https://social.vetmil.com.br/read-blog/15499_how-to-withdraw-from-bet9ja-8-step-guide-to-cash-in-your-wins.html), in the very first half of next year.<br>
+<br>The company is hiring staff from a base in Scotland.<br>
+<br>FanDuel was sold to Flutter - previously called Paddy Power [Betfair -](https://catvcommunity.com.tr/read-blog/4805_the-ins-and-outs-of-betting-on-the-nfl-draft.html) in 2018 and is now worth more than $30bn.<br>
+<br>However, Mr Eccles and other co-founders remain in legal conflict with FanDuel's later stage investors over the method which they structured a takeover, which left the [Edinburgh](http://titotit.com/xe/?document_srl=813361) group without a share of the increasing valuation.<br>
+<br>Mr [Eccles stated](https://napvibe.com/read-blog/3174_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) that a person thing he discovered from the FanDuel experience was to choose financiers thoroughly.<br>
+<br>He informed BBC Scotland: "We took a lot of lessons from that, among which was the value of who we choose as financiers in this brand-new business, to guarantee their values are lined up with ours, that they take their fiduciary duties responsibly, which they're the ideal partners for us."<br>
+<br>The $21m seed  for BetDEX includes stakes taken by seven backers of US innovation companies, including two large [funds -](http://classicalmusicmp3freedownload.com/ja/index.php?title=%E5%88%A9%E7%94%A8%E8%80%85:PaulMcWilliam98) Paradigm and FTX - which specialise in purchasing companies operating with crypto-currencies.<br>
+<br>Varun Sudhakar, chief executive of BetDEX, stated: "The [sports betting](https://infinirealm.com/read-blog/8267_sport-betting-industry-aims-to-protect-itself.html) industry charges high costs for bad products and limitations trades by its most successful users.<br>
+<br>"BetDEX is diametrically opposed to this approach. We will successfully complete against [incumbents](https://ekotur.online/sports-betting/how-are-betting-odds-calculated/) with a noticeably superior product and low charges, which is now possible with the introduction of the blockchain technology."<br>
+<br>As chairman of the new firm, Mr Eccles said it could look familiar to retail punters utilized to existing online companies.<br>
+<br>'Pool of talent'<br>
+<br>However, he says that those who use its platform to run their own [sports betting](http://www.pickmemo.com/read-blog/11287_the-ins-and-outs-of-betting-on-the-nfl-draft.html) companies will have the ability to innovate and develop a wider range of wagering products.<br>
+<br>He said the common share taken by online bookies is 7% to 10% of a stake, however BetDEX ought to enable for that to fall listed below 1%.<br>
+<br>The business will develop its own wagering apps to operate on the platform.<br>
+<br>Mr Eccles stated these would take an "smart, thoughtful" technique to the way they are marketed to secure those who fight with problem [sports betting](https://bbarlock.com/index.php/User:MickieWeinberg).<br>
+<br>He stated the group of around 500 software engineers who helped develop FanDuel from Scotland revealed that it stays the place to construct a firm. BetDEX has the same head of innovation, Stuart Tonner.<br>
+<br>"A great deal of that [FanDuel] [success](https://www.amedaychats.com/read-blog/880_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) was built on an extremely proficient, extremely skilled [engineering](https://mgnm.uk/read-blog/3110_how-are-betting-odds-calculated.html) team, that developed this item that might process countless bets and countless users.<br>
+<br>"There's a genuine skill pool of experienced engineers who helped us build our item which's what we wish to leverage for BetDEX too."<br>
+<br>Related topics<br>
+<br>Edinburgh<br>
+<br>[sports betting](https://globalunitedspirits.com/read-blog/3642_online-betting-firms-gamble-on-soccer-mad-nigeria.html) wagering<br>
+<br>More on this story<br>
+<br>[Paddy Power](https://grade1d.smaportal.ae/read-blog/2438_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) buys dream [sports betting](https://bdstarter.com/the-history-of-the-nfl-and-how-to-bet-on-it/) site<br>
+<br>23 May 2018<br>
+<br>FanDuel creator leaves business<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
+<br>Published<br>
+<br>20 November 2017<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)