OpenBet has moved to enhance its general product offering, acquiring Multi Builder and by extension Sportsbook Training Services (STS).
The firm asserts that it has secured new ‘assets and talent’, such as proprietary sports technology and quantitative trading models, in addition to STS’ training skills and operations.
Specifically, OpenBet has been eyeing up its new holdings proprietary IP and technology for ‘several key pricing models’ across a range of pre-match and in-play sports markets which, it explains, are already well-received by ‘leading sportsbook operators’.
Oliver Preston, Managing Director of Multi Builder Limited, remarked: “We are extremely proud to be part of OpenBet’s latest expansion strategy, further developing their market leading portfolio.
“OpenBet is the stand-out sports technology, services and content business. Their relentless focus on customer and player experience is second to none.
“Our offering will complement the company’s current products very effectively, enabling it to continue providing quality, scale and depth of systems across global markets. We’ve found a trusted partner in OpenBet and we can’t wait to get started.”
A further caveat of the agreement will see MultiBet trader Johnathan Smith continue to manage STS as part of OpenBet, as the latter firm seeks to generate ‘best in-class’ algorithm-based sports betting models, delivering ‘depth and improved margins’ across various sports.
The merger comes as OpenBet places an increased emphasis on content creation, with the firm’s Chief Product Officer, Nikos Konstakis, arguing that ‘compelling content is the deciding factor’ for operators seeking successful player acquisition during this year’s FIFA World Cup.
Commenting on the collaboration, Konstakis said: “This deal marks another significant milestone into the development of our Pricing & Trading Services strategy, which continues to grow in importance as OpenBet drives operator value through deeper market offerings alongside higher flexibility.
“Through the acquisitions of DonBest and SportCast in recent years, coupled with our internal roadmap, we saw our content and pricing revenue grow by over 100% in 2021.
“The addition of Multi Builder Limited allows us to accelerate this growth trajectory, drive innovation and offer next level betting entertainment for our operators’ players.”
A sportsbook division of Endeavour – having been purchased from Light & Wonder for $88m – Openbet currently provides its sportsbook services to a range of operators, supporting Betfred’s operations in Iowa.