From 76daff40e0d02e00f93abd517d178da4da9db543 Mon Sep 17 00:00:00 2001 From: alejandrinarod Date: Thu, 2 Jan 2025 05:23:49 -0500 Subject: [PATCH] Add Sports Betting Innovator Launches new Start-up --- ...tting Innovator Launches new Start-up.-.md | 39 +++++++++++++++++++ 1 file changed, 39 insertions(+) create mode 100644 Sports Betting Innovator Launches new Start-up.-.md diff --git a/Sports Betting Innovator Launches new Start-up.-.md b/Sports Betting Innovator Launches new Start-up.-.md new file mode 100644 index 0000000..c4a4b57 --- /dev/null +++ b/Sports Betting Innovator Launches new Start-up.-.md @@ -0,0 +1,39 @@ +[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
[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
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
17 November 2021
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By Douglas Fraser
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Business and economy editor, Scotland
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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).
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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.
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The brand-new firm has seed funding of $21m.
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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.
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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.
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[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.
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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.
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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).
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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."
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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.
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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.
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"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."
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As chairman of the new company, Mr Eccles stated it could look familiar to retail punters used to existing online companies.
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'Pool of skill'
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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.
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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%.
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The business will develop its own wagering apps to run on the platform.
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Mr Eccles stated these would take an "intelligent, thoughtful" method to the method they are marketed to safeguard those who battle with problem gambling.
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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.
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"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.
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"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."
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Related topics
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Edinburgh
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[sports betting](http://yijichain.com/read-blog/15062_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) wagering
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More on this story
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Paddy Power buys dream [sports betting](https://wolvesbaneuo.com/wiki/index.php/User:ValerieHofmann0) website
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23 May 2018
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FanDuel creator leaves business
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
Published
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20 November 2017
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