Add Sports Betting Innovator Launches new Start-up

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 <br>[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<br>
 <br>17 November 2021<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
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 <br>By Douglas Fraser<br>
 <br>Business and economy editor, Scotland<br>
 <br>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.<br>
 <br>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.<br>
 <br>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.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>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.<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
 <br>The business is hiring personnel from a base in Scotland.<br>
 <br>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.<br>
 <br>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.<br>
 <br>Mr Eccles said that one thing he found out from the FanDuel experience was to select financiers carefully.<br>
 <br>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."<br>
 <br>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).<br>
 <br>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.<br>
 <br>"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)."<br>
 <br>As chairman of the brand-new company, Mr Eccles said it could look familiar to retail punters utilized to existing online companies.<br>
 <br>'Pool of skill'<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 variety of [sports betting](https://social.ppmandi.com/read-blog/233_the-history-of-the-nfl-and-how-to-bank-on-it.html) items.<br>
 <br>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%.<br>
 <br>The company will establish its own [sports betting](https://wiki.fablabbcn.org/User:Skye9268038) apps to operate on the platform.<br>
 <br>Mr Eccles stated these would take an "smart, thoughtful" technique to the method they are marketed to secure those who battle with problem gambling.<br>
 <br>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.<br>
 <br>"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.<br>
 <br>"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."<br>
 <br>Related topics<br>
 <br>Edinburgh<br>
 <br>[sports betting](http://woorichat.com/read-blog/10314_the-history-of-the-nfl-and-how-to-bet-on-it.html) wagering<br>
 <br>More on this story<br>
 <br>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<br>
 <br>23 May 2018<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>FanDuel founder leaves company<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>Published<br>
 <br>20 November 2017<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)