OpenBet Enhances Player Protection with Neccton Acquisition
OpenBet, a prominent content, platform, and service provider in the sports betting industry and a part of the global Endeavor network, has recently announced its acquisition of Neccton, a renowned leader in responsible gaming, anti-money laundering (AML), and fraud detection technology.
The acquisition of Neccton signifies OpenBet’s commitment to accelerating its player protection offerings and expanding its support to the betting industry. OpenBet already boasts an extensive clientele, including reputable names such as FanDuel, DraftKings, Entain, Sky Bet, British Columbia Lottery Corporation, and Loto Québec.
Neccton, led by industry pioneers Dr. Michael Auer and Andreas Schneeberger, brings over 15 years of experience in developing software and services for the gaming sector. Dr. Auer is widely recognized as one of the world’s foremost authorities in academic responsible gaming research and is frequently referenced by regulatory bodies in operator guidelines. Schneeberger, on the other hand, is a renowned expert in Cognitive Science, AI, and Machine Learning.
Jordan Levin, CEO of OpenBet, expressed his enthusiasm about the acquisition, stating, “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 cutting-edge technology is currently deployed in over 30 countries and languages. The company’s products process a staggering number of transactions, analyze millions of real-time activity streams from players worldwide, and possess the capability to handle tens of thousands of events per second.
Neccton’s product suite provides extensive player monitoring capabilities across various countries and regions, with particular expertise in Europe and North America. Their AI-based solution enables real-time analysis of player behavior, significantly improving the accuracy and reducing the cost of AML, fraud detection, and responsible gaming activities. The software’s customizable rules and thresholds have been specifically designed for gaming operators and forward-thinking regulators.
Levin further emphasized the significance of such game-changing services, stating, “Every CEO and regulator knows that player protection and AML capabilities need game-changing services like Neccton to deliver breakthrough 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.”
Dr. Michael Auer, Managing Director of Neccton, shared his vision for the future, stating, “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.”
The acquisition of Neccton by OpenBet sets the stage for enhanced player protection, anti-money laundering, and responsible gaming practices within the betting industry. As both companies join forces, their combined expertise and technology aim to revolutionize the sector, safeguarding players and promoting industry-wide compliance with regulatory standards.