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[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)<br>[Sports betting](https://southwales.com/read-blog/354_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) innovator launches new start-up<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
<br>17 November 2021<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
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<br>By Douglas Fraser<br>
<br>Business and economy editor, Scotland<br>
<br>One of Scotland's most successful innovation groups is beginning once again with a new company - and has actually protected the biggest initial investment of any British start-up business.<br>
<br>BetDEX is being led by Nigel Eccles, who co-founded dream [sports betting](https://miderde.de/index.php?title=Benutzer:AudraHinz7) website FanDuel in 2009 in Edinburgh.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
<br>The brand-new firm has seed financing of $21m.<br>
<br>It intends to launch a new open source software application platform, on which others can [innovate](https://munidigital.iie.cl/wiki/index.php?title=Usuario:AliciaRadecki) in [sports betting](https://nuo18.lt/read-blog/68705_things-you-need-to-understand-about-rafting-adventures.html) wagering, in the very first half of next year.<br>
<br>The [company](http://ringturbine.com80/index.php/User:LeathaField6) is recruiting personnel from a base in Scotland.<br>
<br>FanDuel was sold to [Flutter -](https://noaisocial.pro/read-blog/2352_things-you-need-to-understand-about-rafting-adventures.html) formerly named [Paddy Power](https://online-learning-initiative.org/wiki/index.php/User:RuebenDalley87) [Betfair](http://chillibell.com/read-blog/484_for-sports-gambling-to-be-legalised.html) - in 2018 and is now worth more than $30bn.<br>
<br>However, Mr Eccles and other co-founders remain in legal disagreement with [FanDuel's](https://www.womplaz.com/read-blog/90_things-you-need-to-know-about-rafting-adventures.html) later stage [investors](https://forum.subchems.com/read-blog/3829_things-you-need-to-understand-about-rafting-adventures.html) over the method which they structured a takeover, which left the Edinburgh group without a share of the [increasing appraisal](https://issosyal.com/read-blog/10055_the-ins-and-outs-of-betting-on-the-nfl-draft.html).<br>
<br>Mr Eccles stated that a person thing he gained from the FanDuel experience was to [choose investors](https://gayplatform.de/read-blog/3788_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) thoroughly.<br>
<br>He told BBC Scotland: "We took a great deal of lessons from that, among which was the importance of who we pick as financiers in this brand-new service, to guarantee their values are lined up with ours, that they take their fiduciary responsibilities responsibly, and that they're the right partners for us."<br>
<br>The $21m seed [financing](https://vishwakarmacommunity.org/read-blog/7969_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) for BetDEX includes stakes taken by seven backers of US innovation companies, consisting of 2 big funds - Paradigm and FTX - which [specialise](https://unightlifetalk.site/read-blog/2628_enhance-your-business-opportunities-with-efficient-sports-apps.html) in [purchasing](https://thefreedommovement.ca/read-blog/19318_things-you-need-to-learn-about-rafting-adventures.html) companies [operating](https://pittsburghpenguinsclub.com/read-blog/11520_why-every-cricket-fan-ought-to-try-the-all-cricket-id-gaming-platform.html) with [crypto-currencies](https://genzkenya.co.ke/read-blog/98_things-you-need-to-know-about-rafting-adventures.html).<br>
<br>Varun Sudhakar, president of BetDEX, stated: "The [sports betting](https://connectingsparks.com/read-blog/25156_how-to-withdraw-from-bet9ja-8-step-guide-to-money-in-your-wins.html) wagering industry charges high costs for poor products and limitations trades by its most effective users.<br>
<br>"BetDEX is diametrically opposed to this . We will successfully contend against incumbents with a markedly exceptional item and low fees, which is now possible with the introduction of the [blockchain technology](https://chatkc.com/read-blog/491_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html)."<br>
<br>As chairman of the brand-new company, Mr Eccles stated it could look familiar to retail punters utilized 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://customerscomm.com/read-blog/3714_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) companies will be able to innovate and produce a broader series of [sports betting](https://iuridictum.pecina.cz/w/U%C5%BEivatel:KashaWillson) items.<br>
<br>He stated the typical share taken by online bookies is 7% to 10% of a stake, however BetDEX ought to enable that to fall below 1%.<br>
<br>The business will establish its own [sports betting](http://www.pickmemo.com/read-blog/11287_the-ins-and-outs-of-betting-on-the-nfl-draft.html) apps to operate on the platform.<br>
<br>Mr Eccles said these would take an "smart, thoughtful" method to the way they are marketed to safeguard those who fight with problem gambling.<br>
<br>He stated the team of around 500 software application engineers who assisted build FanDuel from Scotland showed that it stays the location to build a company. BetDEX has the very same head of innovation, Stuart Tonner.<br>
<br>"A lot of that [FanDuel] success was constructed on a highly knowledgeable, extremely gifted engineering group, that constructed this item that might process countless bets and [countless](https://wo.linyway.com/read-blog/1758_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) users.<br>
<br>"There's a genuine talent swimming pool of experienced engineers who helped us build our item and that's what we want to leverage for BetDEX also."<br>
<br>Related topics<br>
<br>Edinburgh<br>
<br>[Sports betting](https://farmwoo.com/read-blog/9531_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html)<br>
<br>More on this story<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
<br>[Paddy Power](https://galgbtqhistoryproject.org/wiki/index.php/User:QPGMatilda) [purchases](https://peoplesmedia.co/read-blog/12850_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) dream [sports betting](https://bence.net/read-blog/6356_sport-betting-industry-wants-to-protect-itself.html) website<br>
<br>23 May 2018<br>
<br>[FanDuel creator](https://netgork.com/read-blog/111684_how-to-play-bet9ja-online.html) leaves company<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
<br>Published<br>
<br>20 November 2017<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)