OpenBet, a leading content, platform and service provider to the sports betting industry and part of the global Endeavor network, has announced it has acquired Neccton, a leader of responsible gaming, anti-money laundering (AML) and fraud detection technology.
The acquisition of Neccton comes as OpenBet continues to accelerate its player protection offerings and expand its support to the betting industry. OpenBet already serves an extensive roster of customers including FanDuel, DraftKings, Entain, Sky Bet, British Columbia Lottery Corporation, Loto Québec, and more.
Neccton brings over 15 years’ experience in developing software and services for the gaming sector under the leadership of industry pioneers Dr Michael Auer and Andreas Schneeberger. Dr Auer is widely regarded as one of the world’s leading authorities in academic responsible gaming research and commonly cited by regulatory bodies in operator guidelines. Schneeberger is a renowned expert in Cognitive Science, AI, and Machine Learning.
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 is currently deployed in more than 30 countries and languages. The company’s products service upwards of 60 billion transactions, analyzes millions of real-time activity streams from players worldwide, and is capable of processing more than tens of thousands of events per second.
Neccton’s product suite is capable of monitoring players in countries and regions around the world, with extensive experience in Europe and North America. The AI-based solution analyzes player behaviour in real time, enabling it to significantly increase the accuracy and reduce the cost of AML, fraud detection, and responsible gaming activities. Its customizable rules and thresholds were designed and developed specifically for gaming operators and forward-thinking regulators.
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.”