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[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)<br>[Sports betting](http://www.seferpanim.com/read-blog/343_how-to-play-bet9ja-online.html) innovator launches brand-new start-up<br>
<br>17 November 2021<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>By Douglas Fraser<br>
<br>Business and editor, Scotland<br>
<br>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.<br>
<br>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.<br>
<br>The brand-new firm has seed [funding](https://www.social.united-tuesday.org/read-blog/19460_compare-amp-review-oddsjet-de.html) of $21m.<br>
<br>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.<br>
<br>The business is hiring staff from a base in Scotland.<br>
<br>FanDuel was sold to Flutter - formerly named Paddy Power Betfair - in 2018 and is now worth more than $30bn.<br>
<br>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.<br>
<br>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).<br>
<br>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."<br>
<br>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).<br>
<br>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.<br>
<br>"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)."<br>
<br>As chairman of the new firm, Mr Eccles stated it could look familiar to retail punters utilized to existing online companies.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
<br>'Pool of talent'<br>
<br>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.<br>
<br>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%.<br>
<br>The company will establish its own wagering apps to operate on the platform.<br>
<br>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.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
<br>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.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
<br>"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.<br>
<br>"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."<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
<br>Related subjects<br>
<br>Edinburgh<br>
<br>[sports betting](https://juryi.sn/read-blog/12098_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagering<br>
<br>More on this story<br>
<br>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<br>
<br>23 May 2018<br>
<br>FanDuel creator leaves business<br>
<br>Published<br>
<br>20 November 2017<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)