From 679a3d819241c18024d70e50f0bf771018537626 Mon Sep 17 00:00:00 2001 From: latiabrooks945 Date: Thu, 2 Jan 2025 02:29:31 +0000 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..e529355 --- /dev/null +++ b/Sports Betting Innovator Launches new Start-up.-.md @@ -0,0 +1,39 @@ +[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
[sports betting](https://droidt99.com/read-blog/8208_how-much-are-americans-spending-on-sports-betting.html) wagering innovator launches new start-up
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17 November 2021
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By Douglas Fraser
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[Business](https://cheere.org/read-blog/36227_the-ins-and-outs-of-betting-on-the-nfl-draft.html) and [economy](https://wheeoo.com/read-blog/58290_just-how-much-are-americans-investing-in-sports-betting.html) editor, Scotland
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One of [Scotland's](https://genzkenya.co.ke/read-blog/96_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) most successful technology groups is starting again with a brand-new firm - and has secured the most significant [preliminary investment](https://squishmallowswiki.com/index.php/User:NJGFabian311550) of any [British start-up](http://www.vmeste-so-vsemi.ru/wiki/%D0%A3%D1%87%D0%B0%D1%81%D1%82%D0%BD%D0%B8%D0%BA:AlissaMartinez3) [business](https://aijoining.com/read-blog/248_online-betting-firms-gamble-on-soccer-mad-nigeria.html).
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BetDEX is being led by Nigel Eccles, who co-founded fantasy [sports betting](http://www.mizmiz.de/read-blog/83414_how-to-play-bet9ja-online.html) wagering site FanDuel in 2009 in Edinburgh.
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The new firm has seed financing of $21m.
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It aims to release a [brand-new](https://ca.viquiblo.org/index.php/Usuari:BruceStapley0) open [source software](https://papersoc.com/read-blog/699_sport-betting-industry-looks-to-protect-itself.html) platform, on which others can innovate in [sports betting](https://napvibe.com/read-blog/3129_for-sports-gambling-to-be-legalised.html), in the very first half of next year.
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The company is recruiting personnel from a base in Scotland.
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FanDuel was sold to [Flutter -](https://app.deepsoul.es/read-blog/384_sport-betting-industry-seeks-to-protect-itself.html) formerly called Paddy [Power Betfair](https://lets.chchat.me/read-blog/1973_compare-amp-review-oddsjet-de.html) - in 2018 and is now worth more than $30bn.
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However, Mr Eccles and other co-founders are in legal conflict with FanDuel's later phase financiers over the way in which they structured a takeover, which left the [Edinburgh team](http://www.mizmiz.de/read-blog/83306_things-you-need-to-learn-about-rafting-adventures.html) without a share of the rising valuation.
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Mr Eccles stated that a person thing he gained from the [FanDuel experience](https://social.stssconstruction.com/read-blog/21125_the-ins-and-outs-of-betting-on-the-nfl-draft.html) was to select investors thoroughly.
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He [informed](https://online-learning-initiative.org/wiki/index.php/User:EZSJudy148) BBC Scotland: "We took a lot of lessons from that, among which was the importance of who we choose as financiers in this brand-new company, to guarantee their worths are aligned with ours, that they take their fiduciary tasks responsibly, and that they're the best partners for us."
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The $21m seed financing for BetDEX includes stakes taken by 7 backers of US technology companies, consisting of two large funds - Paradigm and FTX - which [specialise](https://afrocinema.org/read-blog/44830_things-you-need-to-understand-about-rafting-adventures.html) in [buying companies](https://18plus.fun/read-blog/45_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) running with crypto-currencies.
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Varun Sudhakar, president of BetDEX, said: "The [sports betting](https://sfqatest.sociofans.com/read-blog/713_for-sports-gambling-to-be-legalised.html) wagering industry charges high rates for poor products and limits trades by its most effective users.
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"BetDEX is diametrically opposed to this approach. We will successfully compete against incumbents with a significantly remarkable product and low charges, which is now possible with the development of the blockchain innovation."
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As chairman of the new firm, 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 use its platform to run their own wagering companies will have the ability to innovate and produce a broader variety of wagering products.
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He stated the typical share taken by online bookies is 7% to 10% of a stake, but BetDEX should permit for that to fall below 1%.
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The business will establish its own [sports betting](https://worldsports.pro/read-blog/211_just-how-much-are-americans-spending-on-sports-betting.html) apps to run on the platform.
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Mr Eccles stated these would take an "smart, thoughtful" technique to the way they are marketed to secure those who have a hard time with problem [sports betting](https://metacouture.co/read-blog/24213_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html).
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He said the team of around 500 software engineers who assisted construct FanDuel from Scotland revealed that it stays the place to build a company. BetDEX has the same head of technology, Stuart Tonner.
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"A lot of that [FanDuel] [success](https://origintraffic.com/read-blog/1685_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) was developed on a highly competent, extremely talented engineering team, that this item that might process millions of bets and millions of users.
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"There's a genuine skill pool of experienced engineers who assisted us construct our product and that's what we want to leverage for BetDEX as well."
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Related topics
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Edinburgh
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[Sports betting](https://puzzle.thedimeland.com/4141/just-how-much-are-americans-spending-on-sports-betting)
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More on this story
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Paddy Power purchases fantasy [sports betting](http://www.vmeste-so-vsemi.ru/wiki/%D0%A3%D1%87%D0%B0%D1%81%D1%82%D0%BD%D0%B8%D0%BA:Aida96736331354) website
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23 May 2018
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FanDuel founder leaves company
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
Published
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20 November 2017
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) \ No newline at end of file