Add Sports Betting Innovator Launches new Start-up

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 [bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)<br>[sports betting](https://olps.co.za/wiki/User:RoryKirsova456) wagering innovator [launches](https://netgork.com/read-blog/111684_how-to-play-bet9ja-online.html) brand-new start-up<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
 <br>17 November 2021<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
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 <br>About sharing<br>
 <br>By [Douglas](https://grade1d.smaportal.ae/read-blog/2434_just-how-much-are-americans-investing-in-sports-betting.html) Fraser<br>
 <br>Business and [economy](https://www.proathletediscuss.com/read-blog/424_enhance-your-business-opportunities-with-efficient-sports-apps.html) editor, Scotland<br>
 <br>Among Scotland's most [successful technology](https://twoplustwoequal.com/read-blog/58995_just-how-much-are-americans-investing-in-sports-betting.html) teams is starting again with a [brand-new firm](https://gazanour.com/read-blog/7871_why-every-cricket-fan-ought-to-try-the-all-cricket-id-gaming-platform.html) - and has secured the biggest initial financial investment of any British start-up company.<br>
 <br>BetDEX is being led by Nigel Eccles, who co-founded dream [sports betting](https://twoplustwoequal.com/read-blog/58988_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) wagering website FanDuel in 2009 in [Edinburgh](https://realhindu.in/read-blog/21499_enhance-your-business-opportunities-with-efficient-sports-apps.html).<br>
 <br>The new firm has [seed financing](https://tartar.app/read-blog/1635_how-to-play-bet9ja-online.html) of $21m.<br>
 <br>It aims to release a new open [source software](https://aijoining.com/read-blog/239_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) platform, on which others can [innovate](https://palkwall.com/read-blog/27736_online-betting-firms-gamble-on-soccer-mad-nigeria.html) in [sports betting](https://connectingsparks.com/read-blog/25052_things-you-need-to-know-about-rafting-adventures.html) wagering, in the first half of next year.<br>
 <br>The  is recruiting personnel from a base in Scotland.<br>
 <br>[FanDuel](https://ozoms.com/read-blog/11098_how-fantasy-betting-app-development-companies-and-sports-developers.html) was offered to Flutter - previously named Paddy Power [Betfair -](https://ishare.igrowtech.biz/read-blog/5342_how-much-are-americans-spending-on-sports-betting.html) in 2018 and is now worth more than $30bn.<br>
 <br>However, Mr Eccles and other co-founders are in legal conflict with FanDuel's later [phase financiers](https://learn.ivlc.com/read-blog/67_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) over the method which they structured a takeover, which left the Edinburgh group without a share of the [increasing valuation](https://connectworld.app/read-blog/198_start-winning-with-pcg-college-football-picks.html).<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>Mr Eccles stated that a person thing he found out from the FanDuel experience was to select investors thoroughly.<br>
 <br>He informed BBC Scotland: "We took a great deal of lessons from that, one of which was the importance of who we choose as investors in this brand-new business, to ensure their worths are lined up with ours, that they take their fiduciary tasks responsibly, which they're the best partners for us."<br>
 <br>The $21m seed financing for BetDEX consists of stakes taken by seven backers of US innovation companies, including 2 big [funds -](https://connectworld.app/read-blog/222_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) Paradigm and FTX - which specialise in investing in companies operating with [crypto-currencies](https://bbarlock.com/index.php/User:AliceBland5).<br>
 <br>Varun Sudhakar, president of BetDEX, stated: "The [sports betting](https://encone.com/read-blog/46373_just-how-much-are-americans-spending-on-sports-betting.html) industry charges high prices for poor products and limitations trades by its most successful users.<br>
 <br>"BetDEX is diametrically opposed to this approach. We will effectively compete against [incumbents](https://bbarlock.com/index.php/User:HalleyLongstreet) with a significantly exceptional item and low costs, which is now possible with the development of the [blockchain innovation](https://chatkc.com/read-blog/471_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html)."<br>
 <br>As chairman of the brand-new firm, Mr Eccles said it could look familiar to retail punters utilized to existing online firms.<br>
 <br>'Pool of talent'<br>
 <br>However, he says that those who utilize its platform to run their own [sports betting](https://almightyblondeone.com/index.php/User:PhoebeTeague234) firms will have the ability to innovate and produce a larger variety of wagering items.<br>
 <br>He said the typical 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 company will establish its own wagering apps to run on the platform.<br>
 <br>Mr Eccles said these would take an "smart, thoughtful" technique to the way they are marketed to protect those who fight with issue gambling.<br>
 <br>He stated the group of around 500 software engineers who helped construct FanDuel from Scotland revealed that it remains the location to construct a firm. BetDEX has the same head of technology, Stuart Tonner.<br>
 <br>"A lot of that [FanDuel] [success](https://juryi.sn/read-blog/12097_the-history-of-the-nfl-and-how-to-bet-on-it.html) was built on an extremely proficient, very skilled engineering team, that built this product that might process countless bets and countless users.<br>
 <br>"There's a real skill pool of experienced engineers who assisted us develop our item which's what we wish to utilize for BetDEX as well."<br>
 <br>Related topics<br>
 <br>Edinburgh<br>
 <br>[sports betting](https://gazanour.com/read-blog/7871_why-every-cricket-fan-ought-to-try-the-all-cricket-id-gaming-platform.html) wagering<br>
 <br>More on this story<br>
 <br>Paddy Power purchases dream [sports betting](http://bedfordfalls.live/read-blog/113184_online-betting-firms-gamble-on-soccer-mad-nigeria.html) website<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
 <br>23 May 2018<br>
 <br>[FanDuel founder](https://social.engagepure.com/read-blog/829_how-to-withdraw-from-bet9ja-8-step-guide-to-money-in-your-wins.html) leaves business<br>
 <br>Published<br>
 <br>20 November 2017<br>