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  • OpenBet set to enter Brazilian regulated sports betting market with Play7.Bet partnership

OpenBet, a leading platform, trading & risk, content and services provider to the sports betting industry, has signed a major partnership with Play7.Bet, marking the company’s entry into Brazil’s new and highly anticipated regulated sports betting market.

It is estimated that Brazil could become one of the biggest gambling markets in the world, with data from H2 Gambling Capital forecasting the country will generate gross gaming revenues of up to $6.4 billion annually.

OpenBet is fully equipped to exceed local market standards and deliver safe and exciting sports betting experiences to one of the largest regulated markets with an adult population of tens of millions of adults.

OpenBet’s unrivalled modular product suite once again proves to be the trusted choice for operators looking to enter new markets and make an immediate impact.

Play7.Bet will take a full stack of products and services including the company’s highly versatile Betting Engine and Managed Trading Services, widely recognized for their excellence by facilitating and managing huge volumes of bets at scale on a consistent basis across the world.

In addition, the operator will utilize OpenBet’s Player Account Management (PAM) technology, enabling the new sportsbook brand to provide the ultimate multi-vertical player experience by offering additional layers of promotional, customer relationship management, AML and responsible gaming tools.

The PAM offers operators access to a massive and growing network of partner product and service providers, with investment in local partnerships in Brazil ensuring the best combination of global and local solutions.

Amidst these developments, OpenBet has elevated its protection capabilities through the strategic integration of Neccton, a leader in responsible gaming, AML, and fraud detection.

This allows the supplier to seamlessly combine its advanced sports betting technology with cutting-edge cloud and AI features, taking its commitment to player protection to the next level.

The collaboration with Play7.Bet further demonstrates the company’s ability to supply its industry-leading and comprehensive range of technology, content and services to operators worldwide.

Jordan Levin, CEO at OpenBet said: “We are very excited to have signed a deal with Play7.Bet. Our sports-first approach to product – platform development is unique and with 25 years of success entering and developing regulated markets, OpenBet is in the perfect position to help partners like Play7 win in this market.

“From the very first days of the UK market through Greece, Australia and the U.S., it has always been clear that investing in and partnering with competent local companies with coherent and compelling plans, is a strong foundation for success in new markets. For this reason, we are pleased and honored to have been selected to work with Play7 in Brazil.”

Moises Deiab, CEO at Play7.Bet said: “We are very proud and excited to be partnering with OpenBet. OpenBet is well known for having the most complete and scalable sports betting products and services in the world and their value to us will be critical.

“It was also crucial to us to be working with a company that has always demonstrated its commitment to responsible gaming, player protection, local investment and regulated markets. We have big plans for the market and OpenBet is at the heart of them.”

Sports betting content and platform provider OpenBet has acquired Austrian AI and fraud detection technology provider Neccton.

The financial details of the deal have not been disclosed.

The platform provider said the acquisition aligns with its strategy to enhance player protection offerings and expand support to the betting industry.

OpenBet, previously owned by Light & Wonder, forms part of the Endeavor network, a US holding company for various media and entertainment businesses.

OpenBet already serves a wide range of customers including FanDuel, DraftKings, Entain, Sky Bet, British Columbia Lottery Corporation, and Loto Québec.

Rationale for the acquisition

Neccton, on the other hand, has been developing software and services for the gaming sector for more than 15 years.

The firm’s technology is currently deployed in more than 30 countries and languages.

Neccton’s co-founders, Dr Michael Auer and Andreas Schneeberger, are recognised specialists in responsible gaming, cognitive science, AI, and machine learning.

OpenBet CEO Jordan Levin (pictured) 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.”

What does Neccton offer?

Neccton’s AI-based solutions analyse player behaviour in real time, enabling it to significantly increase the accuracy and reduce the cost of AML, fraud detection and responsible gambling activities.

“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,” Levin continued.

“In 2022 alone, the industry saw record fines of more than $250m 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,” he concluded.

Neccton managing director 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,” Auer concluded.