commit f511af2ce5db9a2f5acb9d0c6ab54a093c603549 Author: annetteconolly Date: Wed Jan 1 19:19:09 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..e1131cf --- /dev/null +++ b/Sports Betting Innovator Launches new Start-up.-.md @@ -0,0 +1,39 @@ +[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
[Sports betting](http://www.seferpanim.com/read-blog/343_how-to-play-bet9ja-online.html) innovator launches brand-new start-up
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17 November 2021
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
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By Douglas Fraser
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Business and editor, Scotland
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Among Scotland's most effective technology teams is starting again with a [brand-new firm](https://connectingsparks.com/read-blog/25083_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) - and has secured the greatest initial investment of any British start-up business.
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BetDEX is being led by Nigel Eccles, who [co-founded dream](https://tripta.social/read-blog/1470_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) [sports betting](https://ifairy.world/read-blog/1571_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) site FanDuel in 2009 in Edinburgh.
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The brand-new firm has seed [funding](https://www.social.united-tuesday.org/read-blog/19460_compare-amp-review-oddsjet-de.html) of $21m.
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It aims to launch a new open [source software](https://social.instinxtreme.com/read-blog/13814_why-every-cricket-fan-need-to-try-the-all-cricket-id-gaming-platform.html) platform, on which others can [innovate](https://wiki.snooze-hotelsoftware.de/index.php?title=Benutzer:TorstenShetler3) in [sports betting](https://ai.ceo/read-blog/244332_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html), in the first half of next year.
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The business is hiring staff from a base in Scotland.
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FanDuel was sold to Flutter - formerly named Paddy Power Betfair - in 2018 and is now worth more than $30bn.
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However, Mr Eccles and other co-founders are in legal dispute with FanDuel's later phase financiers over the method which they structured a takeover, which left the Edinburgh team without a share of the rising assessment.
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Mr [Eccles stated](https://social.myschoolfriend.ng/read-blog/40815_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) that a person thing he gained from the FanDuel experience was to choose [financiers carefully](https://demo.wowonderstudio.com/read-blog/2588_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html).
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He [informed BBC](https://d9talks.site/read-blog/1494_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) Scotland: "We took a great deal of lessons from that, one of which was the significance of who we choose as financiers in this brand-new service, to ensure their worths are lined up with ours, that they take their fiduciary responsibilities properly, which they're the right partners for us."
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The $21m seed [funding](https://nuo18.lt/read-blog/68752_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) for BetDEX includes stakes taken by 7 backers of US technology firms, including 2 big [funds -](https://metacouture.co/read-blog/24232_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) [Paradigm](https://fishtanklive.wiki/User:LouiseNicholson) and FTX - which specialise in [investing](https://social.ishare.la/read-blog/1407_just-how-much-are-americans-investing-in-sports-betting.html) in [business running](https://social.stssconstruction.com/read-blog/21244_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) with [crypto-currencies](https://mxlinkin.mimeld.com/read-blog/699_sport-betting-industry-wants-to-protect-itself.html).
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Varun Sudhakar, president of BetDEX, stated: "The [sports betting](https://mxlinkin.mimeld.com/read-blog/661_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) wagering industry charges high costs for poor products and limits trades by its most effective users.
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"BetDEX is diametrically opposed to this technique. We will effectively compete [versus incumbents](https://coptr.digipres.org/index.php/User:MargoFikes74082) with a markedly superior product and low charges, which is now possible with the development of the [blockchain technology](https://forum.petstory.ge/read-blog/3402_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html)."
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As chairman of the new firm, Mr Eccles stated it could look familiar to retail punters utilized to existing online companies.
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'Pool of talent'
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However, he states that those who use its platform to run their own [sports betting](https://moonifie.com/read-blog/1414_exploring-the-sports-betting-industry-putting-ideas-into-practice.html) firms will be able to innovate and produce a wider series of wagering items.
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He stated the common share taken by online bookmakers is 7% to 10% of a stake, but BetDEX should permit that to fall listed below 1%.
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The company will establish its own wagering apps to operate on the platform.
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Mr Eccles said these would take an "smart, thoughtful" approach to the method they are marketed to protect those who have a hard time with problem gaming.
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He stated the group of around 500 software engineers who assisted construct FanDuel from Scotland revealed that it remains the location to construct a company. BetDEX has the very same head of technology, Stuart Tonner.
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"A great deal of that [FanDuel] [success](https://projectblueberryserver.com/index.php/User:Judy16I61903780) was built on a highly knowledgeable, really [gifted engineering](https://www.eruptz.com/read-blog/17420_how-to-withdraw-from-bet9ja-8-step-guide-to-money-in-your-wins.html) group, that built this [product](https://miderde.de/index.php?title=Benutzer:AundreaBeverly) that could process countless bets and countless users.
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"There's a genuine skill pool of skilled engineers who assisted us develop our item and that's what we want to utilize for BetDEX too."
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Related subjects
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Edinburgh
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[sports betting](https://juryi.sn/read-blog/12098_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagering
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More on this story
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Paddy Power [purchases](https://noaisocial.pro/read-blog/2367_the-ins-and-outs-of-betting-on-the-nfl-draft.html) dream [sports betting](http://touringtreffen.nl/read-blog/2369_the-ins-and-outs-of-betting-on-the-nfl-draft.html) site
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23 May 2018
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FanDuel creator leaves business
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Published
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20 November 2017
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) \ No newline at end of file