From 56b9c48fbe74e23e17083d062934f6ba673ddff9 Mon Sep 17 00:00:00 2001 From: lorrinedempsey Date: Thu, 2 Jan 2025 11:00:59 +0100 Subject: [PATCH] Add Sports Betting Innovator Launches new Start-up --- ...tting Innovator Launches new Start-up.-.md | 39 +++++++++++++++++++ 1 file changed, 39 insertions(+) create mode 100644 Sports Betting Innovator Launches new Start-up.-.md 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..ce2e7af --- /dev/null +++ b/Sports Betting Innovator Launches new Start-up.-.md @@ -0,0 +1,39 @@ +
[sports betting](https://www.womplaz.com/read-blog/92_missouri-sports-betting-ballot-measure-approved-by-voters.html) wagering innovator launches [brand-new](https://origintraffic.com/read-blog/1699_how-fantasy-betting-app-development-companies-and-sports-developers.html) start-up
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17 November 2021
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
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By Douglas Fraser
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Business and economy editor, Scotland
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Among Scotland's most effective innovation teams is starting once again with a new firm - and has protected the greatest preliminary financial investment of any British start-up company.
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BetDEX is being led by Nigel Eccles, who co-founded fantasy [sports betting](https://namesdev.com/read-blog/15187_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) site FanDuel in 2009 in Edinburgh.
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The [brand-new company](https://2flab.com/read-blog/851_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) has seed funding of $21m.
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It aims to introduce a brand-new open [source software](https://devnew.judefly.com/index.php?link1=read-blog&id=3251_compare-amp-review-oddsjet-de.html) application platform, on which others can [innovate](https://doum.cn/read-blog/2208_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) in [sports betting](https://sme.ass.in.th/read-blog/2302_how-to-attract-users-to-my-fantasy-sports-platform.html), in the very first half of next year.
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
The business is hiring personnel from a base in Scotland.
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FanDuel was offered to [Flutter -](https://ifairy.world/read-blog/1309_how-to-play-bet9ja-online.html) previously [named Paddy](https://tartar.app/read-blog/1677_the-ins-and-outs-of-betting-on-the-nfl-draft.html) [Power Betfair](https://lets.chchat.me/read-blog/1793_online-betting-firms-gamble-on-soccer-mad-nigeria.html) - in 2018 and is now worth more than $30bn.
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However, Mr Eccles and other co-founders remain in legal disagreement with FanDuel's later [phase investors](https://uptoscreen.com/read-blog/74240_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) over the method which they structured a takeover, which left the Edinburgh group without a share of the increasing appraisal.
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Mr Eccles said that one thing he found out from the FanDuel experience was to select financiers carefully.
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He told BBC Scotland: "We took a great deal of lessons from that, among which was the value of who we choose as investors in this brand-new service, to ensure their worths are aligned with ours, that they take their fiduciary responsibilities responsibly, which they're the right partners for us."
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The $21m seed financing for BetDEX consists of stakes taken by 7 backers of US [technology](https://youtoosocialnetwork.com/read-blog/1256_start-winning-with-pcg-college-football-picks.html) firms, including 2 large funds - Paradigm and FTX - which specialise in purchasing companies [operating](https://munidigital.iie.cl/wiki/index.php?title=Usuario:LavernAmiet440) with [crypto-currencies](https://vibrantclubs.com/read-blog/11523_sport-betting-industry-seeks-to-protect-itself.html).
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Varun Sudhakar, primary executive of BetDEX, stated: "The [sports betting](http://yijichain.com/read-blog/15085_how-to-play-bet9ja-online.html) market charges high rates for poor products and limits trades by its most effective users.
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"BetDEX is [diametrically opposed](https://wiki.trinitydesktop.org/User:PTRKirby5898161) to this method. We will effectively contend versus incumbents with a [noticeably remarkable](https://fishtanklive.wiki/User:SonRadke2309) item and low costs, which is now possible with the advent of the [blockchain innovation](https://ask.onekeeitsolutions.com/index.php?qa=100967&qa_1=for-sports-gambling-to-be-legalised)."
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As chairman of the brand-new company, Mr Eccles said it could look familiar to retail punters utilized to existing online companies.
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'Pool of skill'
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However, he says that those who utilize its platform to run their own wagering companies will be able to innovate and create a larger variety of [sports betting](https://social.ppmandi.com/read-blog/233_the-history-of-the-nfl-and-how-to-bank-on-it.html) items.
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He said the common share taken by online bookmakers is 7% to 10% of a stake, however BetDEX ought to enable for that to fall below 1%.
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The company will establish its own [sports betting](https://wiki.fablabbcn.org/User:Skye9268038) apps to operate on the platform.
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Mr Eccles stated these would take an "smart, thoughtful" technique to the method they are marketed to secure those who battle with problem gambling.
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He stated the group of around 500 software engineers who assisted construct FanDuel from Scotland showed that it remains the location to develop a company. BetDEX has the same head of innovation, Stuart Tonner.
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"A great deal of that [FanDuel] [success](https://taar.me/read-blog/8433_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) was built on an proficient, really skilled engineering group, that developed this product that could process millions of bets and millions of users.
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"There's a real skill pool of knowledgeable engineers who helped us build our item and that's what we want to leverage for BetDEX also."
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Related topics
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Edinburgh
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[sports betting](http://woorichat.com/read-blog/10314_the-history-of-the-nfl-and-how-to-bet-on-it.html) wagering
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More on this story
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Paddy Power purchases fantasy [sports betting](http://stotep.com/read-blog/3931_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) website
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23 May 2018
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
FanDuel founder leaves company
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
Published
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20 November 2017
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) \ No newline at end of file