Add Sports Betting Innovator Launches new Start-up
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<br>[sports betting](https://superappsocial.com/read-blog/1540_why-every-cricket-fan-should-try-the-all-cricket-id-gaming-platform.html) wagering innovator launches new start-up<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>17 November 2021<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
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<br>About sharing<br>
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<br>By Douglas Fraser<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>[Business](http://www.vokipedia.de/index.php?title=Benutzer:AnitaTen52) and economy editor, Scotland<br>
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<br>One of Scotland's most teams is starting again with a new company - and has actually protected the greatest preliminary financial [investment](https://meebeek.com/read-blog/1149_just-how-much-are-americans-investing-in-sports-betting.html) of any British start-up business.<br>
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<br>BetDEX is being led by Nigel Eccles, who co-founded fantasy [sports betting](https://sfqatest.sociofans.com/read-blog/647_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) website [FanDuel](https://terra.planetv.wtf/read-blog/698_.html) in 2009 in Edinburgh.<br>[bit.ly](https://bit.ly/AviatorGameOnlineBET9JA)
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<br>The [brand-new firm](http://www.vokipedia.de/index.php?title=Benutzer:AnitaTen52) has seed [funding](https://redebuck.com.br/read-blog/22672_things-you-need-to-learn-about-rafting-adventures.html) of $21m.<br>
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<br>It aims to launch a brand-new open source software platform, on which others can innovate in [sports betting](https://philadelphiaflyersclub.com/read-blog/8449_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html), in the very first half of next year.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>The business is [hiring staff](https://systemcheck-wiki.de/index.php?title=Benutzer:BellV8685945) from a base in Scotland.<br>
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<br>FanDuel was offered to Flutter - formerly named Paddy Power [Betfair -](https://maxmeet.ru/read-blog/66_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024) in 2018 and is now worth more than $30bn.<br>
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<br>However, Mr Eccles and other co-founders remain in [legal conflict](https://jamboz.com/read-blog/321_why-every-cricket-fan-need-to-try-the-all-cricket-id-gaming-platform.html) with FanDuel's later [stage financiers](https://wiki.ragnaworld.net/index.php?title=User:JeffersonWentz8) over the method in which they structured a takeover, which left the Edinburgh team without a share of the rising evaluation.<br>
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<br>Mr Eccles said that one thing he learned from the FanDuel experience was to choose investors carefully.<br>
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<br>He informed BBC Scotland: "We took a great deal of lessons from that, one of which was the importance of who we select as financiers in this brand-new organization, to ensure their worths are lined up with ours, that they take their fiduciary duties properly, and that they're the right partners for us."<br>
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<br>The $21m [seed funding](https://social.midnightdreamsreborns.com/read-blog/13140_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) for BetDEX consists of stakes taken by seven backers of US innovation companies, including 2 big funds - Paradigm and FTX - which specialise in purchasing business operating with crypto-currencies.<br>
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<br>Varun Sudhakar, president of BetDEX, said: "The [sports betting](https://jamboz.com/read-blog/336_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) wagering industry charges high prices for bad products and limitations trades by its most successful users.<br>
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<br>"BetDEX is diametrically opposed to this technique. We will successfully compete versus incumbents with a noticeably exceptional [product](http://maili.demoe.cn112/read-blog/425_the-history-of-the-nfl-and-how-to-bank-on-it.html) and low charges, which is now possible with the introduction of the blockchain technology."<br>
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<br>As chairman of the new company, Mr Eccles stated it might look familiar to retail punters utilized to existing online firms.<br>
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<br>'Pool of talent'<br>
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<br>However, he states that those who utilize its platform to run their own [sports betting](https://gigen.net/read-blog/18_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) firms will be able to innovate and create a broader variety of [sports betting](https://camlive.ovh/read-blog/2411_how-fantasy-betting-app-development-companies-and-sports-developers.html) items.<br>
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<br>He stated the normal share taken by online bookmakers is 7% to 10% of a stake, but BetDEX ought to permit that to fall below 1%.<br>
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<br>The company will develop its own wagering apps to operate on the platform.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>Mr Eccles stated these would take an "smart, thoughtful" method to the way they are marketed to safeguard those who fight with problem [sports betting](https://mysuccessdarpan.com/read-blog/12321_things-you-need-to-understand-about-rafting-adventures.html).<br>
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<br>He said the team of around 500 software application engineers who helped build FanDuel from Scotland showed that it remains the place to develop a firm. BetDEX has the exact same head of technology, Stuart Tonner.<br>
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<br>"A lot of that [FanDuel] success was built on a highly proficient, really skilled engineering team, that built this product that could process millions of bets and countless users.<br>
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<br>"There's a genuine skill swimming pool of skilled engineers who helped us construct our product which's what we desire to leverage for BetDEX also."<br>
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<br>Related subjects<br>
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<br>Edinburgh<br>
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<br>[Sports betting](https://meta.mactan.com.br/read-blog/23692_start-winning-with-pcg-college-football-picks.html)<br>
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<br>More on this story<br>
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<br>[Paddy Power](https://philadelphiaflyersclub.com/read-blog/8451_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) buys fantasy [sports betting](http://bedfordfalls.live/read-blog/113184_online-betting-firms-gamble-on-soccer-mad-nigeria.html) website<br>
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<br>23 May 2018<br>
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<br>[FanDuel](https://ekotur.online/sports-betting/score-big-wins-how-sports-betting-software-drives-growth-and-engagement/) founder leaves business<br>
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<br>Published<br>
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<br>20 November 2017<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
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