Add 'Sports Betting Innovator Launches new Start-up'
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<br>[Sports betting](https://collegetalks.site/read-blog/12012_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) innovator launches brand-new start-up<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>17 November 2021<br>
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<br>About sharing<br>
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<br>By Douglas Fraser<br>
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<br>Business and [economy](https://accc.rcec.sinica.edu.tw/mediawiki/index.php?title=User:ArronMassina64) editor, Scotland<br>
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<br>Among Scotland's most [effective innovation](https://customerscomm.com/read-blog/3712_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) teams is beginning again with a new firm - and has protected the biggest initial financial investment of any British start-up company.<br>[bit.ly](https://bit.ly/AviatorGameOnlineBET9JA)
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<br>BetDEX is being led by Nigel Eccles, who co-founded dream [sports betting](https://octomo.co.uk/read-blog/6519_how-to-play-bet9ja-online.html) wagering website FanDuel in 2009 in [Edinburgh](https://tartar.app/read-blog/1729_sport-betting-industry-looks-to-protect-itself.html).<br>
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<br>The [brand-new company](https://maxmeet.ru/read-blog/105_uk-betting-firms-gamble-on-us-after-sports-wager-ruling) has seed funding of $21m.<br>
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<br>It aims to launch a new open source software application platform, on which others can innovate in [sports betting](https://surgiteams.com/index.php/User:EbonyMcinnis353), in the very first half of next year.<br>[bet9ja.com](https://landing.bet9ja.com/aviator-bet9ja?btag=yohaig&promocode=yohaig)
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<br>The business is recruiting staff from a base in Scotland.<br>
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<br>FanDuel was sold to Flutter - formerly called [Paddy Power](https://moonifie.com/read-blog/1405_how-to-withdraw-from-bet9ja-8-step-guide-to-cash-in-your-wins.html) [Betfair](https://cozwo.com/read-blog/8631_start-off-winning-with-pcg-college-football-picks.html) - in 2018 and is now worth more than $30bn.<br>
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<br>However, Mr Eccles and other co-founders are in legal disagreement with FanDuel's later stage investors over the method which they structured a takeover, which left the Edinburgh group without a share of the increasing evaluation.<br>
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<br>Mr Eccles stated that a person thing he learned from the FanDuel experience was to pick investors thoroughly.<br>
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<br>He informed BBC Scotland: "We took a great deal of lessons from that, among which was the value of who we select as investors in this brand-new company, to ensure their values are aligned with ours, that they take their fiduciary duties responsibly, and that they're the best partners for us."<br>
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<br>The $21m seed funding for BetDEX includes stakes taken by seven backers of US companies, consisting of 2 big funds - [Paradigm](https://thewion.com/read-blog/186654_how-much-are-americans-spending-on-sports-betting.html) and FTX - which [specialise](https://www.hb9lc.org/wiki/index.php/User:SantiagoHamm06) in [buying business](https://sportify.brandnitions.com/read-blog/37_just-how-much-are-americans-spending-on-sports-betting.html) [operating](https://wiki.vifm.info/index.php/User:BerndLevey) with [crypto-currencies](https://noaisocial.pro/read-blog/2356_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html).<br>
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<br>Varun Sudhakar, primary executive of BetDEX, said: "The [sports betting](https://hyped4gamers.com/read-blog/2426_for-sports-gambling-to-be-legalised.html) market charges high costs for bad items and limits trades by its most successful users.<br>
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<br>"BetDEX is diametrically opposed to this method. We will successfully complete versus incumbents with a noticeably exceptional product and low charges, which is now possible with the development of the blockchain innovation."<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
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<br>As chairman of the brand-new company, Mr Eccles said it might look familiar to retail punters utilized to existing online firms.<br>
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<br>'Pool of skill'<br>
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<br>However, he says that those who utilize its platform to run their own [sports betting](https://ishare.igrowtech.biz/read-blog/5358_how-to-withdraw-from-bet9ja-8-step-guide-to-money-in-your-wins.html) companies will have the ability to innovate and create a wider range of [sports betting](https://moonifie.com/read-blog/1408_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) products.<br>
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<br>He said the normal share taken by online bookies is 7% to 10% of a stake, however BetDEX needs to enable that to fall listed below 1%.<br>
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<br>The company will establish its own wagering apps to run on the platform.<br>
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<br>Mr Eccles said these would take an "smart, thoughtful" method to the method they are marketed to secure those who have problem with problem [sports betting](https://hyped4gamers.com/read-blog/2426_for-sports-gambling-to-be-legalised.html).<br>
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<br>He stated the group of around 500 software application engineers who assisted construct FanDuel from Scotland revealed that it stays the place to develop a company. BetDEX has the very same head of innovation, Stuart Tonner.<br>
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<br>"A great deal of that [FanDuel] success was constructed on an extremely knowledgeable, very skilled engineering group, that constructed this item that could process millions of bets and countless users.<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
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<br>"There's a real skill swimming pool of knowledgeable engineers who helped us build our product which's what we wish to leverage for BetDEX too."<br>
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<br>Related subjects<br>
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<br>Edinburgh<br>
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<br>[Sports betting](https://iochats.com/read-blog/30908_sport-betting-industry-looks-to-protect-itself.html)<br>
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<br>More on this story<br>
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<br>Paddy Power [purchases fantasy](https://lixoro.de/read-blog/4081_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) [sports betting](https://social.stssconstruction.com/read-blog/20793_things-you-need-to-know-about-rafting-adventures.html) site<br>
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<br>23 May 2018<br>
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<br>FanDuel creator leaves business<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
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<br>Published<br>
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<br>20 November 2017<br>
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