commit edd654d080135dd909402dd628b7f1e28c78e614 Author: kristianvincen Date: Thu Jan 2 08:15:19 2025 +0100 Add Sports Betting Innovator Launches new Start-up diff --git a/Sports Betting Innovator Launches new Start-up.-.md b/Sports Betting Innovator Launches new Start-up.-.md new file mode 100644 index 0000000..29c36d8 --- /dev/null +++ b/Sports Betting Innovator Launches new Start-up.-.md @@ -0,0 +1,39 @@ +
[Sports betting](https://terra.planetv.wtf/read-blog/698_.html) innovator launches [brand-new](https://netgork.com/read-blog/111684_how-to-play-bet9ja-online.html) start-up
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17 November 2021
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By [Douglas](https://social.ishare.la/read-blog/1411_how-much-are-americans-investing-in-sports-betting.html) Fraser
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Business and economy editor, Scotland
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One of Scotland's most [effective technology](https://bbarlock.com/index.php/User:HalleyLongstreet) teams is [starting](https://unightlifetalk.site/read-blog/2628_enhance-your-business-opportunities-with-efficient-sports-apps.html) again with a new firm - and has secured the biggest preliminary investment of any British start-up business.
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BetDEX is being led by Nigel Eccles, who co-founded fantasy [sports betting](https://vishwakarmacommunity.org/read-blog/7944_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) [wagering](https://vishwakarmacommunity.org/read-blog/7944_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) [site FanDuel](https://www.opentx.cz/index.php/U%C5%BEivatel:EmoryHite7) in 2009 in Edinburgh.
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The [brand-new company](https://swaggspot.com/read-blog/9524_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) has seed funding of $21m.
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It intends to [release](http://it-viking.ch/index.php/User:MargartMillican) a new open source software platform, on which others can innovate in [sports betting](https://surgiteams.com/index.php/User:KOWNatisha) wagering, in the first half of next year.
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The [company](https://www.sportpassionhub.com/read-blog/1487_how-fantasy-betting-app-development-companies-and-sports-developers.html) is from a base in Scotland.
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FanDuel was sold to Flutter - formerly called Paddy Power Betfair - in 2018 and is now worth more than $30bn.
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However, Mr Eccles and other co-founders remain in legal conflict with FanDuel's later stage financiers over the method which they structured a takeover, which left the Edinburgh team without a share of the [rising assessment](https://friendza.enroles.com/read-blog/31580_things-you-need-to-know-about-rafting-adventures.html).
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Mr Eccles said that one thing he gained from the FanDuel experience was to [pick investors](https://bvbborussiadortmundfansclub.com/read-blog/6484_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) thoroughly.
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He informed BBC Scotland: "We took a lot of lessons from that, among which was the importance of who we select as financiers in this brand-new service, to guarantee their worths are aligned with ours, that they take their fiduciary duties responsibly, which they're the right partners for us."
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The $21m seed [funding](https://heatwave.app/read-blog/389_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) for BetDEX includes stakes taken by seven backers of US innovation companies, consisting of 2 big funds - Paradigm and FTX - which specialise in buying business operating with [crypto-currencies](https://youfurry.com/read-blog/37836_online-betting-firms-gamble-on-soccer-mad-nigeria.html).
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Varun Sudhakar, primary executive of BetDEX, stated: "The [sports betting](https://onetable.world/read-blog/103194_online-betting-firms-gamble-on-soccer-mad-nigeria.html) wagering market charges high prices for poor items and limitations trades by its most successful users.
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"BetDEX is diametrically opposed to this technique. We will effectively complete versus incumbents with a significantly exceptional product and low costs, which is now possible with the arrival of the blockchain innovation."
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As chairman of the new company, Mr Eccles stated it could look familiar to retail punters utilized to existing online firms.
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'Pool of talent'
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However, he says that those who use its platform to run their own wagering companies will be able to innovate and create a wider series of wagering products.
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He stated the normal share taken by online bookies is 7% to 10% of a stake, however BetDEX should permit for that to fall listed below 1%.
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
The company will establish its own [sports betting](https://loveyou.az/read-blog/17320_things-you-need-to-understand-about-rafting-adventures.html) apps to run on the platform.
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Mr Eccles stated these would take an "smart, thoughtful" method to the way they are marketed to secure those who have a hard time with issue [sports betting](http://yijichain.com/read-blog/15075_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html).
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He said the team of around 500 software application engineers who assisted construct FanDuel from Scotland revealed that it stays the place to develop a company. BetDEX has the exact same head of innovation, Stuart Tonner.
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"A lot of that [FanDuel] success was built on a highly experienced, really [gifted engineering](https://demo.wowonderstudio.com/read-blog/2604_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) team, that [developed](http://www.engel-und-waisen.de/index.php/Benutzer:PhillisWorthen) this item that could process millions of bets and millions of users.
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"There's a genuine skill pool of knowledgeable engineers who assisted us build our item and that's what we wish to leverage for BetDEX too."
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Related topics
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Edinburgh
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[sports betting](https://wolvesbaneuo.com/wiki/index.php/User:CheriKitchen883) wagering
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More on this story
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Paddy Power [buys dream](https://moonifie.com/read-blog/1429_things-you-need-to-understand-about-rafting-adventures.html) [sports betting](https://iuridictum.pecina.cz/w/U%C5%BEivatel:KashaWillson) site
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23 May 2018
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[FanDuel](https://blkbook.blactive.com/read-blog/2282_just-how-much-are-americans-spending-on-sports-betting.html) [founder](https://mixup.wiki/index.php/User:RBCRoxanna) leaves business
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Published
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20 November 2017
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