OpenBet was acquired by Endeavor late last year. Endeavor, the parent company of UFC, WWE, and the talent agencies WME and IMG, recognized OpenBet’s importance to the growing legal sports betting landscape.
Providing both front-end and back-office support to online sports betting sites, OpenBet has an impressive and global customer portfolio. Its client roster includes major U.S. sportsbooks such as DraftKings and FanDuel. It also provides its state-of-the-art platform services to leading U.K. operators SkyBet, Ladbrokes, and William Hill — while also having its own content business as well, featuring BetBuilder and the DonBest pricing feeds.
Neccton is OpenBet’s first M&A play since its own acquisition last fall. And it’s both significant and timely. Neccton, founded in 1996, is currently active in over 30 countries, monitoring over 60 billion wagers. Its AI-driven solutions can detect when responsible gaming interventions are required.
Neccton Co-Founder and Managing Director Dr. Michael Auer noted the power of the OpenBet union. “We have always held the belief that many of the world’s biggest problems can be solved through a potent combination of scientific research and advanced software. It’s an existential imperative for our industry.” Auer added, “ Our vision is to have Neccton technology deployed by the industries leading brands…there is no better partner than OpenBet to help us achieve that.” For that matter, there is probably no better time.
The time is nigh
After the US Supreme Court nullified the ban on sports betting, states rushed to legalize sportsbooks. In their rush to tap a newfound source of state revenues, states legalized first and left the details of responsible gaming to follow. As a result, only now are jurisdictions beginning to grapple with the implementation and enforcement of responsible gaming.
The good news is that states have allocated ample financial resources for responsible gaming, and they're chomping at the bit to put them toward constructive solutions. Meanwhile, OpenBet and Neccton are at the ready to provide those solutions.
Also, states have begun to fine sportsbooks that fall short in their duties to protect consumers. In 2022, more than $250 million in fines were issued to gambling entities that failed to meet compliance and regulatory standards. That just provides more incentive for companies to procure responsible gaming solutions.
