commit 4762938d870a2fcc13eb0148c5fd88a535c42192 Author: celestegeorg25 Date: Thu Jan 2 05:44:53 2025 +0000 Add Sports Betting Innovator Launches Brand-new Start-up diff --git a/Sports Betting Innovator Launches Brand-new Start-up.-.md b/Sports Betting Innovator Launches Brand-new Start-up.-.md new file mode 100644 index 0000000..179a97f --- /dev/null +++ b/Sports Betting Innovator Launches Brand-new Start-up.-.md @@ -0,0 +1,39 @@ +
[Sports betting](https://friendza.enroles.com/read-blog/31622_sport-betting-industry-looks-to-protect-itself.html) [innovator launches](https://aijoining.com/read-blog/248_online-betting-firms-gamble-on-soccer-mad-nigeria.html) new start-up
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
17 November 2021
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By Douglas Fraser
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Business and economy editor, Scotland
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Among Scotland's most successful innovation groups is starting again with a brand-new company - and has actually protected the biggest initial financial investment of any British start-up company.
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BetDEX is being led by Nigel Eccles, who co-founded dream [sports betting](https://demo.wowonderstudio.com/read-blog/2553_how-fantasy-betting-app-development-companies-and-sports-developers.html) [site FanDuel](https://farmwoo.com/read-blog/9534_online-betting-firms-gamble-on-soccer-mad-nigeria.html) in 2009 in [Edinburgh](https://squishmallowswiki.com/index.php/User:AvisIrh342).
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The new [company](https://thefreedommovement.ca/read-blog/19389_sport-betting-industry-looks-to-protect-itself.html) has [seed funding](https://ai.holiday/read-blog/12051_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) of $21m.
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It [intends](https://newcastleunitedfansclub.com/read-blog/13553_why-every-cricket-fan-ought-to-try-the-all-cricket-id-gaming-platform.html) to introduce a new open source software platform, on which others can innovate in [sports betting](https://gayplatform.de/read-blog/3342_for-sports-gambling-to-be-legalised.html), in the very first half of next year.
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The company is [recruiting staff](https://social.updum.com/read-blog/36_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) from a base in Scotland.
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FanDuel was offered to [Flutter -](https://ozoms.com/read-blog/11093_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) previously called Paddy Power [Betfair](https://energypowerworld.co.uk/read-blog/144383_the-ins-and-outs-of-betting-on-the-nfl-draft.html) - in 2018 and is now worth more than $30bn.
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However, Mr Eccles and other co-founders remain in [legal conflict](https://mediawiki1263.00web.net/index.php/User:CandidaAbrahams) with [FanDuel's](https://social.engagepure.com/read-blog/821_exploring-the-sports-betting-industry-putting-ideas-into-practice.html) later phase investors over the method which they structured a takeover, which left the Edinburgh team without a share of the increasing assessment.
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Mr Eccles stated that one thing he gained from the [FanDuel experience](https://chateando.net/read-blog/245_how-fantasy-betting-app-development-companies-and-sports-developers.html) was to choose investors carefully.
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He informed BBC Scotland: "We took a lot of lessons from that, one of which was the importance of who we choose as investors in this brand-new business, to ensure their values are aligned with ours, that they take their fiduciary duties properly, and that they're the best partners for us."
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The $21m seed financing for BetDEX includes stakes taken by 7 backers of US technology firms, including two large [funds -](https://social.stssconstruction.com/read-blog/21205_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) [Paradigm](https://social.ppmandi.com/read-blog/244_how-to-play-bet9ja-online.html) and FTX - which specialise in buying business running with crypto-currencies.
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Varun Sudhakar, president of BetDEX, stated: "The [sports betting](https://sabiile.com/read-blog/2134_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) market charges high costs for poor items and limits trades by its most effective users.
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"BetDEX is [diametrically opposed](https://social.mirrororg.com/read-blog/7664_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) to this method. We will successfully complete versus incumbents with a significantly [superior item](https://cosplaybook.de/read-blog/7041_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) and low fees, which is now possible with the development of the [blockchain technology](https://wiki.rrtn.org/wiki/index.php/User:AurelioNicoll)."
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As chairman of the new company, Mr Eccles stated it might look familiar to retail punters used to existing online firms.
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'Pool of skill'
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However, he states that those who use its platform to run their own wagering companies will be able to innovate and create a broader variety of [sports betting](https://younivix.com/read-blog/29941_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) products.
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He said the common share taken by online bookies is 7% to 10% of a stake, however BetDEX should enable for that to fall below 1%.
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The business will establish its own [sports betting](https://aijoining.com/read-blog/245_sport-betting-industry-aims-to-protect-itself.html) apps to run on the platform.
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Mr Eccles stated these would take an "smart, thoughtful" approach to the way they are marketed to secure those who struggle with issue [sports betting](https://social.engagepure.com/read-blog/794_how-to-play-bet9ja-online.html).
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He said the group of around 500 software application engineers who assisted develop FanDuel from Scotland revealed that it remains the location to build a firm. BetDEX has the exact same head of innovation, Stuart Tonner.
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"A great deal of that [FanDuel] success was constructed on an [extremely](https://moonifie.com/read-blog/1423_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) competent, very gifted engineering team, that developed this item that might process millions of bets and countless users.
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"There's a genuine skill swimming pool of knowledgeable engineers who assisted us build our item which's what we want to leverage for BetDEX too."
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Related topics
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Edinburgh
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[Sports betting](https://demo.wowonderstudio.com/read-blog/2604_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html)
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More on this story
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buys dream [sports betting](https://mediawiki1263.00web.net/index.php/User:CandidaAbrahams) site
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23 May 2018
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FanDuel creator leaves company
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
Published
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20 November 2017
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) \ No newline at end of file