OpenBet Amplifies Responsible iGaming Measures Through Acquisition of Neccton

OpenBet, an esteemed provider of content, platforms, and services for the sports betting sector and a component of the global Endeavor network, has announced the acquisition of Neccton, a frontrunner in responsible gaming, anti-money laundering (AML) and fraud detection technology. This move underscores OpenBet’s commitment to enhancing player protection offerings within the iGaming industry.

OpenBet caters to an extensive range of clients, including FanDuel, DraftKings, Entain, Sky Bet, the British Columbia Lottery Corporation, Loto Québec, and many others. The addition of Neccton to their portfolio stands as a significant step in their ongoing effort to extend support to the betting industry.

With over a decade and a half of experience in the development of software and services for the iGaming sector, Neccton is led by industry trailblazers Dr. Michael Auer and Andreas Schneeberger. Dr. Auer’s extensive work in academic responsible gaming research has earned him global recognition as an authority on the subject, with his insights regularly referenced by regulatory bodies in operator guidelines. Schneeberger, an expert in Cognitive Science, AI, and Machine Learning, brings invaluable knowledge to the table.

Neccton’s advanced technology is currently deployed across 30 countries and in multiple languages. The company’s products oversee approximately 60 billion transactions, analyzing real-time activity streams from players globally, with the capacity to process tens of thousands of events every second.

The AI-based solution from Neccton allows monitoring of players in various countries and regions, with significant expertise in both Europe and North America. By analyzing player behavior in real time, Neccton’s technology can notably enhance the accuracy and reduce the cost of AML, fraud detection, and responsible iGaming activities. Its customizable rules and thresholds, specifically developed for iGaming operators and forward-thinking regulators, position it as a valuable asset in the advancement of responsible iGaming practices.

Jordan Levin, CEO of OpenBet, 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.”

Levin 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.”

Dr Michael Auer, Managing Director of Neccton, 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.”