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[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)<br>[sports betting](https://2flab.com/read-blog/846_sport-betting-industry-aims-to-protect-itself.html) wagering innovator launches brand-new start-up<br> |
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<br>17 November 2021<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) |
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<br>Share<br> |
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<br>close panel<br> |
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<br>Share page<br> |
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<br>Copy link<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://nuo18.lt/read-blog/68717_why-every-cricket-fan-ought-to-try-the-all-cricket-id-gaming-platform.html) editor, Scotland<br> |
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<br>Among Scotland's most effective innovation teams is beginning once again with a new [company -](https://napolifansclub.com/read-blog/22930_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) and has protected the biggest initial financial [investment](https://demo.wowonderstudio.com/read-blog/2546_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) of any [British start-up](https://genzkenya.co.ke/read-blog/98_things-you-need-to-know-about-rafting-adventures.html) [business](https://sportysocialspace.com/read-blog/12003_things-you-need-to-know-about-rafting-adventures.html).<br> |
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<br>BetDEX is being led by Nigel Eccles, who co-founded fantasy [sports betting](https://www.etymologiewebsite.nl/wiki/Gebruiker:LourdesMoen4) website FanDuel in 2009 in Edinburgh.<br> |
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<br>The new firm has [seed financing](https://bexopro.com/read-blog/2788_why-every-cricket-fan-must-try-the-all-cricket-id-gaming-platform.html) of $21m.<br> |
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<br>It aims to introduce a brand-new open source software platform, on which others can innovate in [sports betting](https://sportstalkhub.com/read-blog/21392_how-much-are-americans-spending-on-sports-betting.html) wagering, in the first half of next year.<br> |
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<br>The business is hiring personnel from a base in Scotland.<br> |
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<br>FanDuel was offered to Flutter - previously named Paddy Power [Betfair](http://www.mizmiz.de/read-blog/83306_things-you-need-to-learn-about-rafting-adventures.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 disagreement with FanDuel's later stage financiers over the method in which they structured a takeover, which left the [Edinburgh](https://pittsburghtribune.org/read-blog/132026_sport-betting-industry-wants-to-protect-itself.html) group without a share of the rising evaluation.<br> |
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<br>Mr Eccles said that a person thing he learned from the FanDuel experience was to pick financiers thoroughly.<br> |
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<br>He [informed](https://wiki.ragnaworld.net/index.php?title=User:JeffersonWentz8) BBC Scotland: "We took a lot of lessons from that, among which was the value of who we pick as investors in this new service, to guarantee their worths are lined up with ours, that they take their fiduciary responsibilities properly, which they're the best partners for us."<br> |
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<br>The $21m seed funding for BetDEX includes stakes taken by 7 [backers](https://harrykaneclub.com/read-blog/10229_sport-betting-industry-wants-to-protect-itself.html) of US innovation firms, including two large funds - Paradigm and FTX - which specialise in buying companies running with crypto-currencies.<br> |
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<br>Varun Sudhakar, [primary executive](https://mediawiki1263.00web.net/index.php/User:CandidaAbrahams) of BetDEX, said: "The [sports betting](https://olps.co.za/wiki/User:RoryKirsova456) industry charges high prices for poor products and limitations trades by its most effective users.<br> |
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<br>"BetDEX is diametrically opposed to this technique. We will successfully compete against incumbents with a [markedly exceptional](https://social.updum.com/read-blog/276_the-ins-and-outs-of-betting-on-the-nfl-draft.html) [product](https://systemcheck-wiki.de/index.php?title=Benutzer:BellV8685945) and low costs, which is now possible with the [arrival](https://pittsburghpenguinsclub.com/read-blog/11520_why-every-cricket-fan-ought-to-try-the-all-cricket-id-gaming-platform.html) of the blockchain technology."<br> |
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<br>As chairman of the brand-new company, Mr Eccles stated it could look familiar to retail punters used to existing online companies.<br> |
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<br>'Pool of talent'<br> |
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<br>However, he says that those who utilize its platform to run their own [sports betting](https://social.updum.com/read-blog/276_the-ins-and-outs-of-betting-on-the-nfl-draft.html) companies will be able to innovate and create a larger series of wagering products.<br> |
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<br>He stated the normal share taken by online bookies is 7% to 10% of a stake, but BetDEX should enable that to fall listed below 1%.<br> |
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<br>The business will develop its own wagering apps to run on the platform.<br> |
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<br>Mr Eccles said these would take an "intelligent, thoughtful" technique to the method they are marketed to safeguard those who battle with problem [sports betting](https://letustalk.co.in/read-blog/11471_things-you-need-to-know-about-rafting-adventures.html).<br> |
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<br>He stated the group of around 500 software engineers who assisted develop FanDuel from Scotland revealed that it remains the place to construct a firm. BetDEX has the very same head of technology, Stuart Tonner.<br> |
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<br>"A lot of that [FanDuel] success was [constructed](https://bence.net/read-blog/6419_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) on a highly knowledgeable, very [talented engineering](https://richonline.club/read-blog/4358_online-betting-firms-gamble-on-soccer-mad-nigeria.html) team, that developed this product that might process millions of bets and users.<br> |
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<br>"There's a real talent swimming pool of skilled engineers who assisted us build our item and that's what we wish to leverage for BetDEX also."<br> |
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<br>Related subjects<br> |
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<br>Edinburgh<br> |
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<br>[Sports betting](https://theavtar.in/read-blog/30167_how-much-are-americans-investing-in-sports-betting.html)<br> |
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<br>More on this story<br> |
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<br>[Paddy Power](https://swaggspot.com/read-blog/9691_the-ins-and-outs-of-betting-on-the-nfl-draft.html) [purchases](https://comunidadebrasilbr.com/read-blog/14308_how-fantasy-betting-app-development-companies-and-sports-developers.html) dream [sports betting](https://richonline.club/read-blog/3575_missouri-sports-betting-ballot-measure-approved-by-voters.html) website<br> |
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<br>23 May 2018<br> |
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<br>[FanDuel creator](https://letustalk.co.in/read-blog/11471_things-you-need-to-know-about-rafting-adventures.html) 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>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) |
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