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](http://www.larsaluarna.se/index.php/User:MelodyTsb15) wagering innovator [launches brand-new](https://globalairgunner.com/read-blog/20126_the-ins-and-outs-of-betting-on-the-nfl-draft.html) start-up<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
+<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 most successful technology teams is [starting](https://followmylive.com/read-blog/21296_for-sports-gambling-to-be-legalised.html) once again with a new firm - and has actually secured the greatest preliminary investment of any British [start-up company](https://www.amedaychats.com/read-blog/883_things-you-need-to-know-about-rafting-adventures.html).<br>
+<br>BetDEX is being led by Nigel Eccles, who co-founded fantasy [sports betting](https://bikapsul.com/read-blog/1467_how-fantasy-betting-app-development-companies-and-sports-developers.html) [wagering website](https://thefreedommovement.ca/read-blog/16306_how-to-play-bet9ja-online.html) FanDuel in 2009 in Edinburgh.<br>
+<br>The brand-new firm has seed funding of $21m.<br>
+<br>It intends to launch a new open [source software](https://woodsrunners.com/index.php/User:OliverNorthmore) application platform, on which others can innovate in [sports betting](https://www.amedaychats.com/read-blog/871_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) wagering, in the first half of next year.<br>
+<br>The business is [recruiting staff](https://devnew.judefly.com/index.php?link1=read-blog&id=3248_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) from a base in Scotland.<br>
+<br>[FanDuel](http://archmageriseswiki.com/index.php/User:TraciKnaggs0) was sold to  previously called Paddy Power [Betfair -](https://harrykaneclub.com/read-blog/10239_just-how-much-are-americans-investing-in-sports-betting.html) in 2018 and is now worth more than $30bn.<br>
+<br>However, Mr Eccles and other co-founders remain in legal dispute with FanDuel's later phase investors over the way in which they structured a takeover, which left the Edinburgh group without a share of the rising valuation.<br>
+<br>Mr Eccles stated that one thing he discovered from the FanDuel experience was to pick investors [carefully](https://www.ayuujk.com/read-blog/82_the-ins-and-outs-of-betting-on-the-nfl-draft.html).<br>
+<br>He told BBC Scotland: "We took a lot of lessons from that, among which was the value of who we choose as investors in this brand-new business, to guarantee their values are aligned with ours, that they take their fiduciary duties responsibly, which they're the ideal partners for us."<br>
+<br>The $21m seed funding for [BetDEX consists](http://www.larsaluarna.se/index.php/User:ChloeX93642750) of stakes taken by seven backers of US technology companies, consisting of 2 large funds - Paradigm and FTX - which specialise in buying business operating with crypto-currencies.<br>
+<br>Varun Sudhakar, [primary executive](https://meebeek.com/read-blog/1177_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) of BetDEX, stated: "The [sports betting](http://famedoot.in/read-blog/118_the-ins-and-outs-of-betting-on-the-nfl-draft.html) market charges high prices for poor items and limitations trades by its most successful users.<br>
+<br>"BetDEX is [diametrically opposed](https://sportstalkhub.com/read-blog/21390_why-every-cricket-fan-ought-to-try-the-all-cricket-id-gaming-platform.html) to this method. We will effectively contend against incumbents with a significantly superior product and low charges, which is now possible with the arrival of the blockchain innovation."<br>
+<br>As chairman of the new company, Mr Eccles stated it could look familiar to retail punters used to existing online companies.<br>
+<br>'Pool of skill'<br>
+<br>However, he states that those who use its platform to run their own [sports betting](https://squishmallowswiki.com/index.php/User:DaveFuqua9943) firms will be able to innovate and develop a larger variety of wagering products.<br>
+<br>He said the normal share taken by online bookies is 7% to 10% of a stake, however BetDEX ought to permit that to fall listed below 1%.<br>
+<br>The business will develop its own wagering apps to run on the platform.<br>
+<br>Mr Eccles stated these would take an "intelligent, thoughtful" method to the method they are marketed to safeguard those who battle with problem gambling.<br>
+<br>He said the group of around 500 software engineers who assisted build FanDuel from Scotland showed that it remains the place to build a company. BetDEX has the same head of innovation, Stuart Tonner.<br>
+<br>"A lot of that [FanDuel] success was [constructed](https://www.tobeop.com/things-you-need-to-know-about-rafting-adventures/) on a highly knowledgeable, extremely talented [engineering](https://truthbook.social/read-blog/8345_how-much-are-americans-spending-on-sports-betting.html) team, that built this item that could [process millions](https://disgaeawiki.info/index.php/User:NovellaKell483) of bets and millions of users.<br>
+<br>"There's a real skill swimming pool of experienced engineers who helped us build our item and that's what we wish to leverage for BetDEX too."<br>
+<br>Related topics<br>
+<br>Edinburgh<br>
+<br>[sports betting](http://yijichain.com/read-blog/15062_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) wagering<br>
+<br>More on this story<br>
+<br>Paddy Power buys dream [sports betting](https://wolvesbaneuo.com/wiki/index.php/User:ValerieHofmann0) website<br>
+<br>23 May 2018<br>
+<br>FanDuel creator leaves business<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
+<br>Published<br>
+<br>20 November 2017<br>