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[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)<br>[sports betting](https://social.midnightdreamsreborns.com/read-blog/13140_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) [wagering innovator](https://tweecampus.com/read-blog/116758_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) [launches brand-new](https://www.opentx.cz/index.php/U%C5%BEivatel:AlannaHamer89) 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](https://unightlifetalk.site/read-blog/2830_just-how-much-are-americans-investing-in-sports-betting.html) Fraser<br>
<br>Business and economy editor, Scotland<br>
<br>Among Scotland's most effective technology teams is beginning once again with a [brand-new firm](https://socialsnug.net/read-blog/8153_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) - and has secured the biggest initial financial investment of any British start-up business.<br>
<br>BetDEX is being led by Nigel Eccles, who co-founded fantasy [sports betting](https://sfqatest.sociofans.com/read-blog/704_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) website FanDuel in 2009 in Edinburgh.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
<br>The brand-new firm has seed funding of $21m.<br>
<br>It intends to release a open source software [application](https://farmwoo.com/read-blog/9554_the-ins-and-outs-of-betting-on-the-nfl-draft.html) platform, on which others can innovate in [sports betting](https://linkin.commoners.in/read-blog/25793_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html), in the first half of next year.<br>
<br>The company is hiring personnel from a base in [Scotland](https://wheeoo.com/read-blog/57802_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html).<br>
<br>[FanDuel](https://welcometohaiti.com/read-blog/18199_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) was sold to Flutter - previously named Paddy Power [Betfair](https://ozoms.com/read-blog/11108_the-ins-and-outs-of-betting-on-the-nfl-draft.html) - in 2018 and is now worth more than $30bn.<br>
<br>However, Mr Eccles and other co-founders remain in legal dispute with FanDuel's later stage investors over the method in which they structured a takeover, which left the Edinburgh team without a share of the [increasing valuation](https://chatkc.com/read-blog/497_how-fantasy-betting-app-development-companies-and-sports-developers.html).<br>
<br>Mr Eccles stated that a person thing he gained from the [FanDuel experience](https://www.oscommerce.com/wiki/User_talk:StanForest604) was to select financiers carefully.<br>
<br>He informed BBC Scotland: "We took a great deal of lessons from that, among which was the significance of who we select as investors in this brand-new service, to guarantee their worths are aligned with ours, that they take their fiduciary tasks properly, which they're the ideal partners for us."<br>
<br>The $21m seed financing for BetDEX [consists](https://si-sudagro.net/cdc-hiruak/index.php?qa=153192&qa_1=things-you-need-to-know-about-rafting-adventures) of stakes taken by seven backers of US [innovation](https://heatwave.app/read-blog/389_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) firms, including 2 large funds - Paradigm and FTX - which specialise in purchasing business running with crypto-currencies.<br>
<br>Varun Sudhakar, [president](https://connectworld.app/read-blog/198_start-winning-with-pcg-college-football-picks.html) of BetDEX, stated: "The [sports betting](http://milkywaystars.site/read-blog/3060_how-to-withdraw-from-bet9ja-8-step-guide-to-money-in-your-wins.html) market charges high costs for bad items and limits trades by its most successful users.<br>
<br>"BetDEX is diametrically opposed to this technique. We will successfully complete versus incumbents with a significantly superior [product](https://heatwave.app/read-blog/389_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) and low costs, which is now possible with the development of the [blockchain innovation](https://wavedream.wiki/index.php/User:AthenaMattes792)."<br>
<br>As chairman of the brand-new company, Mr Eccles said it might look familiar to retail punters used to existing online companies.<br>
<br>'Pool of talent'<br>
<br>However, he says that those who utilize its platform to run their own wagering companies will be able to innovate and create a larger series of wagering products.<br>
<br>He stated the common share taken by online bookies is 7% to 10% of a stake, however BetDEX ought to allow for that to fall listed below 1%.<br>
<br>The business will develop its own wagering apps to run on the platform.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
<br>Mr Eccles stated these would take an "intelligent, thoughtful" technique to the way they are marketed to protect those who have problem with issue gambling.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
<br>He stated the team of around 500 software application engineers who helped develop FanDuel from Scotland revealed that it remains the place to build a firm. BetDEX has the exact same head of innovation, Stuart Tonner.<br>
<br>"A great deal of that [FanDuel] success was developed on a highly experienced, very [talented engineering](https://social.ppmandi.com/read-blog/204_sport-betting-industry-seeks-to-protect-itself.html) group, that constructed this product that might [process countless](https://youfurry.com/read-blog/37811_things-you-need-to-know-about-rafting-adventures.html) bets and countless users.<br>
<br>"There's a real talent swimming pool of experienced engineers who helped us construct our item and that's what we wish to take advantage of for BetDEX also."<br>
<br>Related subjects<br>
<br>Edinburgh<br>
<br>[Sports betting](http://touringtreffen.nl/read-blog/2429_the-history-of-the-nfl-and-how-to-bank-on-it.html)<br>
<br>More on this story<br>
<br>Paddy Power [purchases](http://1600-6765.com/board_fyUJ95/217936) dream [sports betting](https://pittsburghpenguinsclub.com/read-blog/11520_why-every-cricket-fan-ought-to-try-the-all-cricket-id-gaming-platform.html) website<br>
<br>23 May 2018<br>
<br>FanDuel creator leaves business<br>
<br>Published<br>
<br>20 November 2017<br>