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<br>[sports betting](https://sundaycareers.com/read-blog/2678_just-how-much-are-americans-investing-in-sports-betting.html) wagering innovator [launches brand-new](https://ishare.igrowtech.biz/read-blog/5338_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) start-up<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
<br>17 November 2021<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>By Douglas Fraser<br>
<br>Business and economy editor, Scotland<br>
<br>One of Scotland's most [effective technology](https://bikapsul.com/read-blog/1466_start-winning-with-pcg-college-football-picks.html) teams is beginning once again with a new firm - and has actually protected the biggest preliminary [financial investment](https://twixxor.com/read-blog/8953_the-ins-and-outs-of-betting-on-the-nfl-draft.html) of any [British start-up](https://www.miptrucking.net/read-blog/1295_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) [business](http://www.vmeste-so-vsemi.ru/wiki/%D0%A3%D1%87%D0%B0%D1%81%D1%82%D0%BD%D0%B8%D0%BA:Kelly88E90).<br>
<br>BetDEX is being led by Nigel Eccles, who co-founded fantasy [sports betting](http://it-viking.ch/index.php/User:AnnettFain) FanDuel in 2009 in Edinburgh.<br>
<br>The brand-new company has [seed funding](https://alumni.myra.ac.in/read-blog/148676_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) of $21m.<br>
<br>It intends to introduce a new open source software application platform, on which others can innovate in [sports betting](http://yijichain.com/read-blog/15079_how-to-withdraw-from-bet9ja-8-step-guide-to-money-in-your-wins.html) wagering, in the very first half of next year.<br>
<br>The company is recruiting personnel from a base in Scotland.<br>
<br>FanDuel was sold to Flutter - previously named Paddy Power Betfair - in 2018 and is now worth more than $30bn.<br>
<br>However, Mr Eccles and other co-founders are in legal dispute with FanDuel's later stage financiers over the method in which they structured a takeover, which left the Edinburgh group without a share of the rising valuation.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
<br>Mr Eccles said that one thing he discovered from the FanDuel experience was to choose investors thoroughly.<br>
<br>He [informed](https://meta.mactan.com.br/read-blog/24916_just-how-much-are-americans-investing-in-sports-betting.html) BBC Scotland: "We took a lot of lessons from that, one of which was the significance of who we pick as financiers in this brand-new business, to ensure their worths are aligned with ours, that they take their fiduciary responsibilities responsibly, which they're the best partners for us."<br>
<br>The $21m seed [funding](https://pipewiki.org/wiki/index.php/User:KayleneField246) for BetDEX includes stakes taken by 7 [backers](https://youtoosocialnetwork.com/read-blog/1253_why-every-cricket-fan-must-try-the-all-cricket-id-gaming-platform.html) of US technology companies, including two large funds - Paradigm and FTX - which specialise in investing in companies running with crypto-currencies.<br>
<br>Varun Sudhakar, [primary executive](http://www.larsaluarna.se/index.php/User:ArletteWisdom8) of BetDEX, stated: "The [sports betting](https://flowsocial.xyz/read-blog/572_why-every-cricket-fan-need-to-try-the-all-cricket-id-gaming-platform.html) wagering market charges high rates for bad products and limits trades by its most effective users.<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
<br>"BetDEX is diametrically opposed to this approach. We will successfully complete against incumbents with a significantly [remarkable product](https://newyorkcityfcfansclub.com/read-blog/5005_how-are-betting-odds-calculated.html) and low charges, which is now possible with the advent of the blockchain innovation."<br>
<br>As chairman of the brand-new firm, Mr Eccles said it might look familiar to retail punters utilized to existing online firms.<br>
<br>'Pool of talent'<br>
<br>However, he states that those who utilize its platform to run their own [sports betting](http://1600-6765.com/board_fyUJ95/218165) companies will have the ability to innovate and develop a larger range of [sports betting](https://nbc.co.uk/read-blog/149_just-how-much-are-americans-investing-in-sports-betting.html) products.<br>
<br>He stated the normal share taken by online bookmakers is 7% to 10% of a stake, but BetDEX ought to permit for that to fall listed below 1%.<br>
<br>The company will establish its own wagering apps to operate on the platform.<br>
<br>Mr Eccles said these would take an "smart, thoughtful" approach to the method they are marketed to safeguard those who have problem with issue gambling.<br>
<br>He said the team of around 500 software engineers who assisted construct FanDuel from Scotland revealed that it stays the place to develop a firm. BetDEX has the very same head of innovation, Stuart Tonner.<br>
<br>"A lot of that [FanDuel] success was [developed](https://chateando.net/read-blog/217_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) on a highly experienced, really gifted engineering group, that built this item that could process countless bets and millions of users.<br>
<br>"There's a genuine skill pool of knowledgeable engineers who helped us build our item which's what we want to utilize for BetDEX also."<br>
<br>Related subjects<br>
<br>Edinburgh<br>
<br>[Sports betting](https://projectblueberryserver.com/index.php/User:TracieKilgour)<br>
<br>More on this story<br>
<br>[Paddy Power](http://yijichain.com/read-blog/15168_how-much-are-americans-spending-on-sports-betting.html) purchases dream [sports betting](https://islider.ru/read-blog/37651_enhance-your-business-opportunities-with-efficient-sports-apps.html) website<br>
<br>23 May 2018<br>
<br>FanDuel [creator leaves](http://www.vmeste-so-vsemi.ru/wiki/%D0%A3%D1%87%D0%B0%D1%81%D1%82%D0%BD%D0%B8%D0%BA:Kelly88E90) company<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
<br>Published<br>
<br>20 November 2017<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)