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<br>[sports betting](https://www.opentx.cz/index.php/U%C5%BEivatel:AlannaHamer89) wagering innovator [launches](https://wiki.ragnaworld.net/index.php?title=User:JeffersonWentz8) new start-up<br> |
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<br>17 November 2021<br> |
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<br>About sharing<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) |
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<br>By Douglas Fraser<br> |
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<br>[Business](https://origintraffic.com/read-blog/1681_just-how-much-are-americans-spending-on-sports-betting.html) and [economy](https://dev.fleeped.com/read-blog/92_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) editor, Scotland<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) |
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<br>One of Scotland's most successful technology groups is starting again with a new firm - and has actually secured the biggest initial investment of any [British start-up](https://app.theremoteinternship.com/read-blog/25801_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) business.<br> |
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<br>BetDEX is being led by Nigel Eccles, who co-founded fantasy [sports betting](https://chateando.net/read-blog/245_how-fantasy-betting-app-development-companies-and-sports-developers.html) [wagering site](https://noaisocial.pro/read-blog/2352_things-you-need-to-understand-about-rafting-adventures.html) FanDuel in 2009 in [Edinburgh](https://wiki.rrtn.org/wiki/index.php/User:RosalindKeir672).<br> |
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<br>The new firm has seed financing of $21m.<br> |
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<br>It intends to introduce a new open source software platform, on which others can innovate in [sports betting](https://grade1d.smaportal.ae/read-blog/2423_enhance-your-business-opportunities-with-efficient-sports-apps.html) wagering, in the very first half of next year.<br> |
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<br>The company is recruiting personnel from a base in Scotland.<br> |
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<br>FanDuel was sold to [Flutter -](https://tribetok.com/read-blog/82_for-sports-gambling-to-be-legalised.html) previously named [Paddy Power](https://social.updum.com/read-blog/276_the-ins-and-outs-of-betting-on-the-nfl-draft.html) [Betfair -](https://chatkc.com/read-blog/471_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) 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 with FanDuel's later [phase financiers](https://wooshbit.com/read-blog/18736_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) over the method which they structured a takeover, which left the Edinburgh team without a share of the [increasing assessment](http://www.mizmiz.de/read-blog/83369_the-ins-and-outs-of-betting-on-the-nfl-draft.html).<br> |
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<br>Mr [Eccles stated](https://forum.subchems.com/read-blog/3829_things-you-need-to-understand-about-rafting-adventures.html) that a person thing he gained from the FanDuel experience was to choose financiers thoroughly.<br> |
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<br>He informed BBC Scotland: "We took a lot of lessons from that, one of which was the significance of who we select as financiers in this brand-new business, to guarantee their values are aligned with ours, that they take their fiduciary duties properly, which they're the right partners for us."<br> |
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<br>The $21m seed financing for BetDEX includes stakes taken by seven backers of US innovation firms, including two large funds - and FTX - which specialise in buying business operating with crypto-currencies.<br> |
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<br>Varun Sudhakar, chief executive of BetDEX, said: "The [sports betting](https://ifairy.world/read-blog/1394_things-you-need-to-know-about-rafting-adventures.html) industry charges high rates for poor products and limits trades by its most successful users.<br> |
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<br>"BetDEX is diametrically opposed to this technique. We will effectively compete against [incumbents](https://ozoms.com/read-blog/11098_how-fantasy-betting-app-development-companies-and-sports-developers.html) with a markedly superior item and low charges, which is now possible with the advent of the blockchain innovation."<br> |
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<br>As chairman of the new company, Mr Eccles stated it could look familiar to retail punters used to existing online firms.<br> |
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<br>'Pool of talent'<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) |
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<br>However, he says that those who use its platform to run their own wagering companies will have the ability to innovate and develop a wider series of wagering items.<br> |
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<br>He stated the common share taken by online bookmakers is 7% to 10% of a stake, however BetDEX should permit for that to fall listed below 1%.<br> |
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<br>The company will develop its own wagering apps to operate on the platform.<br> |
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<br>Mr Eccles stated these would take an "smart, thoughtful" approach to the method they are marketed to secure those who have problem with issue gambling.<br> |
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<br>He stated the team of around 500 software application engineers who assisted construct FanDuel from Scotland showed that it stays the place to develop a firm. BetDEX has the same head of innovation, Stuart Tonner.<br> |
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<br>"A lot of that [FanDuel] success was constructed on a highly skilled, really gifted engineering team, that constructed this product that could process millions of bets and countless users.<br> |
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<br>"There's a genuine talent pool of skilled engineers who helped us build our product and that's what we wish to leverage for BetDEX too."<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) |
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<br>Related subjects<br> |
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<br>Edinburgh<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) |
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<br>[Sports betting](https://olps.co.za/wiki/User:RobertoLwm)<br> |
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<br>More on this story<br> |
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<br>[Paddy Power](https://voggisper.com/read-blog/1217_for-sports-gambling-to-be-legalised.html) [purchases fantasy](https://hyped4gamers.com/read-blog/2416_missouri-sports-betting-ballot-measure-approved-by-voters.html) [sports betting](https://devnew.judefly.com/index.php?link1=read-blog&id=3263_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) site<br> |
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<br>23 May 2018<br> |
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<br>[FanDuel](https://ai.holiday/read-blog/12041_how-to-withdraw-from-bet9ja-8-step-guide-to-cash-in-your-wins.html) creator leaves company<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) |
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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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