A prominent software developer and content provider, OpenBet, has completed the acquisition of a leading wagering technology provider Neccton. OpenBet, as a part of the global Endeavor network, will use the acquisition announced on June 13 to integrate Neccton’s portfolio of responsible gaming, fraud detection, and anti-money laundering technologies to OpenBet’s content, platform, and services.
Improving Player Protection:
According to OpenBet, the acquisition of Neccton will be a vehicle to improve the player protection offerings across a range of platforms and services and simultaneously provide additional support to the wagering industry. The provider’s customers like DraftKings, Entain, Sky Bet, and more will get additional security of their operation in return for their loyalty to OpenBet as the supplier.
At the same time, the acquisition represents a natural step for Neccton after 15 years of its brand building in the field of software and service development for the gaming operators. The company was led by industry pioneers Dr Michael Auer and Andreas Schneeberger, who are among the worldwide recognized responsible gaming research authorities and, respectively, reputable AI and Machine Learning experts.
Jordan Levin, CEO of OpenBet, reportedly said: “Since the birth of online sports betting, OpenBet has been at the forefront of creating compelling and safe entertainment experiences built on solid technology foundations. We thrive on solving the most complex challenges our industry presents, and OpenBet’s acquisition of Neccton takes our commitment to player protection and AML to the next level.”
Neccton’s technology is reportedly used in more than 30 countries and languages performing around 60 billion transactions and analyzing millions of live streams around the world. Its products, reportedly capable of processing tens of thousands of events per second, monitor players around the world using AI-based solutions. According to OpenBet, the products of its new subsidiary reduce the costs of the activities related to AML, responsible gaming, and fraud detection procedures to help operators and regulators ensure compliance of operations.
Levin reportedly continued: “Every CEO and regulator knows that player protection and AML capabilities need game-changing services like Neccton to deliver break-through ethical and fiscal solutions for our rapidly expanding industry. In 2022 alone, the industry saw record fines of more than $250 million for responsible gaming, AML, and compliance failures. Michael, Andreas, and the Neccton team are working at the intersection of data science and cloud-based artificial intelligence to research and solve this global challenge.”
Combination of Research and Software:
Dr Michael Auer, Managing Director of Neccton, reportedly added: “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. Our vision is to have Neccton technology deployed by the industry’s leading brands and shaping regulatory standards. With its 25-year track record, high compliance standards, and position as a leading partner for World Lottery Association members, there is no better partner than OpenBet to help us achieve that.”
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