OpenBet has confirmed the acquisition of Austrian responsible gambling software firm Neccton as it seeks to bolster its player protection mechanisms.
Marking the firm’s first M&A activity since it was bought for $800m by Endeavor last year, OpenBet has taken control of Neccton, which provides RG, AML, and fraud detection tech to operators and lotteries.
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.”
Neccton’s technology – developed by MD Dr. Michael Auer – is an AI-based solution that analyzes player behavior in real-time to help detect and intervene with problematic or high-risk gambling activity in a timely manner.
Active in over 30 countries, Neccton’s solution monitors over 60 billion wagers and analyzes millions of activity streams to detect when RG intervention is required.
Alongside Dr. Auer, the AI specialist firm is also run by Andreas Scheeberger, and together the pair have significant expertise in machine learning, AI and RG research.
This expertise, OpenBet stated, would fit its plans to “accelerate its player protection offerings” as it continues to serve its client roster which includes FanDuel, DraftKings, and Entain. Neither OpenBet nor Neccton disclosed any of the terms of the deal.
Dr. Auer 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.”
Levin concluded: “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.”