Update 'Sports Betting Innovator Launches Brand-new Start-up'

5 months ago · f15cd80c28
commit f15cd80c28
1 changed files with 39 additions and 0 deletions
--- a/Sports-Betting-Innovator-Launches-Brand-new-Start-up.md
+++ b/Sports-Betting-Innovator-Launches-Brand-new-Start-up.md
@ -0,0 +1,39 @@
 <br>[Sports betting](https://friendspo.com/read-blog/28687_the-history-of-the-nfl-and-how-to-bank-on-it.html) [innovator launches](https://trackrecord.id/read-blog/1809_missouri-sports-betting-ballot-measure-approved-by-voters.html) [brand-new](https://tribetok.com/read-blog/89_how-are-betting-odds-calculated.html) start-up<br>
 <br>17 November 2021<br>
 <br>Share<br>
 <br>close panel<br>
 <br>Share page<br>
 <br>Copy link<br>
 <br>About sharing<br>
 <br>By Douglas Fraser<br>
 <br>[Business](https://social.ppmandi.com/read-blog/235_the-ins-and-outs-of-betting-on-the-nfl-draft.html) and economy editor, Scotland<br>
 <br>One of Scotland's most successful technology teams is starting again with a [brand-new company](https://d9talks.site/read-blog/1194_sport-betting-industry-looks-to-protect-itself.html) - and has actually protected the most significant initial investment of any British start-up company.<br>
 <br>BetDEX is being led by Nigel Eccles, who co-founded dream [sports betting](https://chateando.net/read-blog/215_enhance-your-business-opportunities-with-efficient-sports-apps.html) [website FanDuel](https://bence.net/read-blog/5718_for-sports-gambling-to-be-legalised.html) in 2009 in Edinburgh.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>The [brand-new firm](https://swaggspot.com/read-blog/9689_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) has seed funding of $21m.<br>
 <br>It intends to launch a brand-new open source software [application](https://namesdev.com/read-blog/15195_how-fantasy-betting-app-development-companies-and-sports-developers.html) platform, on which others can [innovate](https://mysuccessdarpan.com/read-blog/12661_for-sports-gambling-to-be-legalised.html) in [sports betting](https://www.grandtribunal.org/wiki/User:YvetteFulcher43), in the first half of next year.<br>
 <br>The [business](https://maxmeet.ru/read-blog/76_how-are-betting-odds-calculated) is [hiring staff](https://www.heesah.com/read-blog/2217_why-every-cricket-fan-need-to-try-the-all-cricket-id-gaming-platform.html) from a base in [Scotland](https://oolibuzz.com/read-blog/41625_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html).<br>
 <br>FanDuel was offered to [Flutter -](https://issosyal.com/read-blog/10004_how-to-play-bet9ja-online.html) previously called Paddy Power [Betfair -](https://mybuddis.com/read-blog/81_things-you-need-to-know-about-rafting-adventures.html) in 2018 and is now worth more than $30bn.<br>
 <br>However, Mr Eccles and other [co-founders](http://flexchar.com/index.php?link1=read-blog&id=331_online-betting-firms-gamble-on-soccer-mad-nigeria.html) are in legal disagreement with FanDuel's later [stage financiers](https://tripta.social/read-blog/1496_the-ins-and-outs-of-betting-on-the-nfl-draft.html) over the method which they structured a takeover, which left the [Edinburgh team](https://oolibuzz.com/read-blog/41625_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) without a share of the increasing valuation.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>Mr Eccles said that a person thing he found out from the FanDuel experience was to choose financiers thoroughly.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>He told BBC Scotland: "We took a lot of lessons from that, one of which was the significance of who we choose as financiers in this brand-new organization, to guarantee their worths are aligned with ours, that they take their fiduciary responsibilities properly, which they're the right partners for us."<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>The $21m seed funding for BetDEX consists of stakes taken by 7 backers of US technology firms, including 2 big funds - Paradigm and FTX - which specialise in buying companies  with crypto-currencies.<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
 <br>Varun Sudhakar, president of BetDEX, said: "The [sports betting](https://friendza.enroles.com/read-blog/31655_for-sports-gambling-to-be-legalised.html) market charges high prices for poor products and limitations trades by its most effective users.<br>
 <br>"BetDEX is diametrically opposed to this approach. We will successfully compete against incumbents with a noticeably exceptional item and low charges, which is now possible with the introduction of the blockchain technology."<br>
 <br>As chairman of the new firm, Mr Eccles said it might look familiar to retail punters utilized to existing online firms.<br>
 <br>'Pool of skill'<br>
 <br>However, he says that those who utilize its platform to run their own [sports betting](https://juryi.sn/read-blog/12093_begin-winning-with-pcg-college-football-picks.html) firms will be able to innovate and create a wider range of [sports betting](https://wiki.snooze-hotelsoftware.de/index.php?title=Benutzer:ElanaSkalski802) products.<br>
 <br>He stated the normal share taken by online bookies is 7% to 10% of a stake, however BetDEX needs to enable that to fall below 1%.<br>
 <br>The business will establish its own wagering apps to run on the platform.<br>
 <br>Mr Eccles stated these would take an "smart, thoughtful" technique to the method they are marketed to protect those who fight with problem gambling.<br>
 <br>He said the team of around 500 software application engineers who assisted develop FanDuel from Scotland showed that it remains the place to construct a company. BetDEX has the exact same head of innovation, Stuart Tonner.<br>
 <br>"A lot of that [FanDuel] success was developed on a highly knowledgeable, extremely skilled [engineering](https://ai.ceo/read-blog/244235_for-sports-gambling-to-be-legalised.html) group, that built this product that could [process millions](https://onetable.world/read-blog/103195_how-fantasy-betting-app-development-companies-and-sports-developers.html) of bets and millions of users.<br>
 <br>"There's a genuine skill swimming pool of knowledgeable engineers who helped us construct our item which's what we desire to utilize for BetDEX too."<br>
 <br>Related subjects<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
 <br>Edinburgh<br>
 <br>[sports betting](https://humlog.social/read-blog/21790_things-you-need-to-know-about-rafting-adventures.html) wagering<br>
 <br>More on this story<br>
 <br>Paddy Power purchases fantasy [sports betting](https://cozwo.com/read-blog/8817_the-ins-and-outs-of-betting-on-the-nfl-draft.html) site<br>
 <br>23 May 2018<br>
 <br>FanDuel founder leaves business<br>
 <br>Published<br>
 <br>20 November 2017<br>