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OpenBet, a well-known software developer and content supplier, has acquired Neccton, a significant wagering technology company. OpenBet intends to include Neccton’s comprehensive portfolio of responsible gaming, fraud detection, and anti-money laundering technology into its content, platform, and services as part of the worldwide Endeavour network.
The purchase of Neccton by OpenBet is a critical step in improving player protection across many platforms and services while also providing more support to the wagering industry. Customers such as DraftKings, Entain, and Sky Bet, among others, will benefit from strengthened security measures in their operations, reinforcing their trust in OpenBet as their preferred provider.
After building a significant presence in the sector of software and service development for gaming operators over the past 15 years, the purchase represents a natural move for Neccton. Dr. Michael Auer and Andreas Schneeberger, industry pioneers, lead the company, which is known for its expertise in ethical gaming research, artificial intelligence, and machine learning.
Jordan Levin, CEO of OpenBet, expressed his excitement about the acquisition, stating, “OpenBet has been at the forefront of creating compelling and safe entertainment experiences built on solid technology foundations since the birth of online sports betting. OpenBet’s acquisition of Neccton takes our commitment to player protection and anti-money laundering to the next level.”
Neccton’s technology is used in over 30 countries and facilitates over 60 billion transactions each year, analyzing millions of live streams globally. Its devices, which are powered by AI-based solutions, can process tens of thousands of events every second and track players all over the world. OpenBet emphasizes that the new subsidiary’s products greatly lower the expenses associated with anti-money laundering, responsible gaming, and fraud detection methods, assuring compliance for operators and authorities.
Levin further emphasized the importance of innovative solutions like Neccton in addressing industry challenges: “Player protection and anti-money laundering capabilities require game-changing services like Neccton to deliver breakthrough ethical and fiscal solutions for our rapidly expanding industry. In 2022 alone, the industry faced record fines exceeding $250 million due to failures in responsible gaming, anti-money laundering, and compliance. Michael, Andreas, and the Neccton team are at the forefront of data science and cloud-based artificial intelligence, working to address this global challenge.”
Dr. Michael Auer, Managing Director of Neccton, shared his vision for the company, stating, “We firmly believe that a combination of scientific research and advanced software can solve many of the world’s most pressing issues. This is an imperative for our industry. Our vision is to have Neccton’s technology deployed by leading brands in the industry and to shape regulatory standards. With OpenBet’s 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.”