Add Sports Betting Innovator Launches new Start-up

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 [bit.ly](https://bit.ly/AviatorGameOnlineBET9JA)<br>[Sports betting](https://messengerkivu.com/read-blog/2358_how-to-attract-users-to-my-fantasy-sports-platform.html) [innovator launches](https://santosfcfansclub.com/read-blog/7618_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) 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>One of Scotland's most [effective technology](https://lifefriendsurance.com/just-how-much-are-americans-spending-on-sports-betting/) teams is [starting](http://www.vokipedia.de/index.php?title=Benutzer:AnitaTen52) once again with a new company - and has actually protected the most significant initial financial investment of any British start-up business.<br>
 <br>BetDEX is being led by Nigel Eccles, who co-founded dream [sports betting](https://www.facetwig.com/read-blog/96065_things-you-need-to-understand-about-rafting-adventures.html) site FanDuel in 2009 in Edinburgh.<br>
 <br>The new company has seed financing of $21m.<br>
 <br>It aims to introduce a brand-new open [source software](https://papersoc.com/read-blog/699_sport-betting-industry-looks-to-protect-itself.html) platform, on which others can  in [sports betting](https://farmwoo.com/read-blog/9534_online-betting-firms-gamble-on-soccer-mad-nigeria.html) wagering, in the very first half of next year.<br>
 <br>The [business](https://mediawiki1263.00web.net/index.php/User:CandidaAbrahams) is recruiting personnel from a base in Scotland.<br>
 <br>FanDuel was sold to Flutter - previously called Paddy [Power Betfair](https://forum.subchems.com/read-blog/3854_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) - in 2018 and is now worth more than $30bn.<br>
 <br>However, Mr Eccles and other co-founders are in legal disagreement with FanDuel's later phase financiers over the method which they structured a takeover, which left the [Edinburgh](https://tottenhamhotspurfansclub.com/read-blog/7108_begin-winning-with-pcg-college-football-picks.html) group without a share of the increasing evaluation.<br>
 <br>Mr Eccles stated that one thing he gained from the [FanDuel experience](https://seenoor.com/read-blog/426_how-fantasy-betting-app-development-companies-and-sports-developers.html) was to [choose investors](https://wheeoo.com/read-blog/57802_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) carefully.<br>
 <br>He [informed BBC](https://tribetok.com/read-blog/78_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) Scotland: "We took a great deal of lessons from that, one of which was the value of who we choose as investors in this brand-new business, to ensure their values are lined up with ours, that they take their fiduciary tasks responsibly, which they're the best partners for us."<br>
 <br>The $21m seed financing for BetDEX includes stakes taken by 7 backers of US innovation companies, including two large funds - [Paradigm](https://social.stssconstruction.com/read-blog/21125_the-ins-and-outs-of-betting-on-the-nfl-draft.html) and FTX - which [specialise](https://wiki.rrtn.org/wiki/index.php/User:ShaneAllcot3326) in [investing](https://connectingsparks.com/read-blog/25076_sport-betting-industry-aims-to-protect-itself.html) in companies running with [crypto-currencies](https://parentingliteracy.com/wiki/index.php/User:ElijahClaudio).<br>
 <br>Varun Sudhakar, president of BetDEX, said: "The [sports betting](https://younetwork.app/read-blog/8721_things-you-need-to-understand-about-rafting-adventures.html) wagering market charges high rates for poor products and limitations trades by its most effective users.<br>
 <br>"BetDEX is diametrically opposed to this approach. We will successfully complete against incumbents with a significantly [remarkable product](https://gayplatform.de/read-blog/3765_for-sports-gambling-to-be-legalised.html) and low charges, which is now possible with the advent of the blockchain technology."<br>
 <br>As chairman of the brand-new company, Mr Eccles said it might look familiar to retail punters utilized to existing online companies.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>'Pool of talent'<br>
 <br>However, he states that those who utilize its platform to run their own [sports betting](https://skylockr.app/read-blog/201_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) firms will be able to innovate and produce a larger series of [sports betting](https://drapia.org/11-WIKI/index.php/User:ClevelandRoby89) items.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>He said the typical share taken by online bookmakers is 7% to 10% of a stake, however BetDEX must enable 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 said these would take an "intelligent, thoughtful" method to the method they are marketed to protect those who have a hard time with issue gambling.<br>
 <br>He said the team of around 500 software application engineers who assisted construct FanDuel from Scotland showed that it remains the place to build a firm. BetDEX has the very same head of technology, Stuart Tonner.<br>
 <br>"A lot of that [FanDuel] [success](https://voggisper.com/read-blog/1217_for-sports-gambling-to-be-legalised.html) was developed on an [extremely](https://social.engagepure.com/read-blog/789_just-how-much-are-americans-investing-in-sports-betting.html) knowledgeable, very talented engineering group, that built this product that could process countless bets and millions of users.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>"There's a real talent pool of knowledgeable engineers who helped us build our product and that's what we want to leverage for BetDEX as well."<br>
 <br>Related subjects<br>
 <br>Edinburgh<br>
 <br>[Sports betting](https://lixoro.de/read-blog/4092_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html)<br>
 <br>More on this story<br>
 <br>Paddy Power purchases fantasy [sports betting](https://napvibe.com/read-blog/3129_for-sports-gambling-to-be-legalised.html) website<br>
 <br>23 May 2018<br>
 <br>FanDuel founder leaves business<br>
 <br>Published<br>
 <br>20 November 2017<br>