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 [bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)<br>[sports betting](https://peekz.eu/read-blog/249_how-to-attract-users-to-my-fantasy-sports-platform.html) wagering innovator [launches brand-new](https://oeclub.org/index.php/User:KatriceLuu27) start-up<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>17 November 2021<br>
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 <br>By [Douglas](https://demo.wowonderstudio.com/read-blog/2546_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) Fraser<br>
 <br>Business and economy editor, Scotland<br>
 <br>Among Scotland's most successful technology groups is beginning once again with a brand-new company - and has actually secured the most significant initial investment of any British start-up company.<br>
 <br>BetDEX is being led by Nigel Eccles, who co-founded fantasy [sports betting](https://www.kuyasia.com/read-blog/79_why-every-cricket-fan-must-try-the-all-cricket-id-gaming-platform.html) wagering website FanDuel in 2009 in Edinburgh.<br>
 <br>The [brand-new company](https://followmylive.com/read-blog/21881_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) has seed [funding](https://drapia.org/11-WIKI/index.php/User:JanessaBroderick) of $21m.<br>
 <br>It intends to release a new open source software application platform, on which others can innovate in [sports betting](https://vishwakarmacommunity.org/read-blog/7970_how-much-are-americans-spending-on-sports-betting.html) wagering, in the first half of next year.<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
 <br>The company is [recruiting personnel](https://customerscomm.com/read-blog/3738_how-much-are-americans-investing-in-sports-betting.html) from a base in Scotland.<br>
 <br>FanDuel was sold to [Flutter -](https://bigtoc.com/read-blog/8961_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) formerly called Paddy [Power Betfair](https://app.deepsoul.es/read-blog/356_how-to-withdraw-from-bet9ja-8-step-guide-to-money-in-your-wins.html) - in 2018 and is now worth more than $30bn.<br>
 <br>However, Mr Eccles and other [co-founders](https://projectblueberryserver.com/index.php/User:Gregory69F) remain in legal disagreement with FanDuel's later stage financiers over the method which they structured a takeover, which left the Edinburgh group without a share of the rising evaluation.<br>
 <br>Mr Eccles stated that a person thing he found out from the [FanDuel experience](https://social.concienciacasanare.com/read-blog/49_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) was to pick investors carefully.<br>
 <br>He informed BBC Scotland: "We took a lot of lessons from that, among which was the value of who we choose as financiers in this brand-new company, to ensure their values are aligned with ours, that they take their fiduciary responsibilities responsibly, which they're the ideal partners for us."<br>
 <br>The $21m seed funding for BetDEX  of stakes taken by seven backers of US innovation companies, consisting of two big funds - [Paradigm](https://wolvesbaneuo.com/wiki/index.php/User:CheriKitchen883) and FTX - which specialise in buying companies running with crypto-currencies.<br>
 <br>Varun Sudhakar, president of BetDEX, said: "The [sports betting](https://nbc.co.uk/read-blog/154_how-fantasy-betting-app-development-companies-and-sports-developers.html) wagering industry charges high prices for poor products and limits trades by its most effective users.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>"BetDEX is diametrically opposed to this approach. We will successfully complete against incumbents with a considerably superior item and low costs, which is now possible with the arrival of the [blockchain technology](https://sabiile.com/read-blog/2144_sport-betting-industry-aims-to-protect-itself.html)."<br>
 <br>As chairman of the brand-new firm, Mr Eccles stated it could look familiar to retail punters utilized to existing online firms.<br>
 <br>'Pool of skill'<br>
 <br>However, he states that those who utilize its platform to run their own wagering companies will have the ability to innovate and create a wider series of [sports betting](https://oolibuzz.com/read-blog/41724_just-how-much-are-americans-investing-in-sports-betting.html) products.<br>
 <br>He said the typical share taken by online bookies is 7% to 10% of a stake, however BetDEX should permit for that to fall below 1%.<br>
 <br>The company will develop its own [sports betting](https://social.concienciacasanare.com/read-blog/16_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) apps to run on the platform.<br>
 <br>Mr Eccles stated these would take an "intelligent, thoughtful" approach to the method they are marketed to secure those who struggle with problem gaming.<br>
 <br>He stated the team of around 500 software application engineers who assisted develop FanDuel from Scotland revealed that it stays the place to develop a company. BetDEX has the very same head of innovation, Stuart Tonner.<br>
 <br>"A great deal of that [FanDuel] success was built on an extremely knowledgeable, very skilled engineering team, that constructed this product that might [process millions](https://tweecampus.com/read-blog/116758_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) of bets and countless users.<br>
 <br>"There's a real talent swimming pool of knowledgeable engineers who helped us develop our product and that's what we desire to leverage for BetDEX too."<br>
 <br>Related subjects<br>
 <br>Edinburgh<br>
 <br>[sports betting](https://friends.win/read-blog/20747_the-history-of-the-nfl-and-how-to-bet-on-it.html) wagering<br>
 <br>More on this story<br>
 <br>[Paddy Power](https://encone.com/read-blog/46252_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) buys fantasy [sports betting](https://ca.viquiblo.org/index.php/Usuari:JonathanWelch) site<br>
 <br>23 May 2018<br>
 <br>FanDuel creator leaves company<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
 <br>Published<br>
 <br>20 November 2017<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)