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OpenBet
IndustrySoftware, Gambling
Founded1996; 28 years ago (1996)
HeadquartersChiswick, London
Area served
Chiswick, London
Athens, Greece
Sydney, Australia
Montreal, Canada
Key people
Jordan Levin
OwnerOB Global Holdings LLC
Number of employees
over 750
SubsidiariesNeccton

OpenBet is a provider of sportsbook technology, content and services, which is owned by Endeavor Group Holdings, Inc as of 2021.

Description

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In 2020, it was the market leader in Canada where 80%[1] of all digital sports bets were processed through its platform. In the same year in the UK, it accounted for 65%,[2] and in Australia, 46%.[3] The OpenBet platform is licensed in 13 US states, and last year 40%[4] of all bets in the country were carried out on its platform. OpenBet develops front-end and back-office gaming products, including management and data analysis and reporting tools.

Its platform is designed to allow users to bet and play in multiple languages and currencies across a range of products and platforms, including web, mobile, retail outlets, call centres and interactive television, with a single sign-on to a centralised OpenBet account.

History

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Orbis Technology Ltd was founded on 2 February 1996 by Clive Haworth, James Caddy and Charles Malir.[5][6]

The company's first sports betting application was released as Betonline through a City Index and Sporting Life joint venture in time for the 1998 World Cup. In 1999 Orbis launched their OpenBet Casino at ICE and the Sky Vegas Live Roulette channel was launched. By 2000, Ladbrokes, Surrey Sports and Paddy Power were live on OpenBet.[7]

In December 2000, the company was acquired by NDS Group, a News Corporation company and a technology provider in digital television. James Caddy stepped down as CEO in 2004 with David Loveday taking over. NT Media was acquired in September 2005 and then Electracade in December 2008.

In 2010, Orbis Technology was renamed to OpenBet, the name of its eponymous software betting platform.[6] It also acquired Alphameric Solutions, a software company supplying betting retail products, which was renamed as the OpenBet Retail division.[8]

It was in a Sunday Times survey in 2010, and achieved a one star accreditation in 2015.[9]

In January 2011, OpenBet was sold by NDS for £208 million, in a management buyout backed by private equity firm, Vitruvian Partners.[10] In March 2013 David Loveday stepped down, with COO Jeremy Thompson-Hill taking over as CEO of Openbet.[11]

In April 2015, OpenBet acquired their Greek branch from outsourcing partner Athens Technology Center S.A., increasing the group's headcount by 25%.[12]

In 2016, OpenBet was named sports betting supplier of the year at the eGamingReview B2B awards for the seventh successive year.[13] Vitruvian Partners sold OpenBet to NYX Gaming Group in 2016.[14]

In 2017, NYX was acquired by Scientific Games Corporation with OpenBet becoming part of the latter's SG Digital division in 2018.[15][16]

In 2019, OpenBet partnered up with the TAB NZ, a New Zealand betting site.[17]

In September 2021, Endeavor Group announced that it would acquire OpenBet for $1.2 billion in cash and stock.[18] The acquisition was completed in September 2022.[19]

In June 2023, OpenBet acquired Neccton, which is a responsible gaming and fraud detection app provider.[20][21]

In August 2024, Endeavor announced that OpenBet and IMG Arena would be put up for sale as part of its plans to go private.[22] On November 11, 2024, it was announced that OpenBet would be sold in a management buyout to a group led by Endeavor CEO Ari Emanuel for $450 million.[23]

References

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  1. ^ Q1-21 on-shore regulated operators. Sports excludes horse-racing.
  2. ^ Operator Data / H2GC (FY20).
  3. ^ Flutter Annual Report (FY20).
  4. ^ Jun-21 pro-rata estimate for US customers live as at Aug-21.
  5. ^ "Orbis Technology founded in 1996". freeextrachips.com. Retrieved 23 May 2024.
  6. ^ a b "OPENBET LIMITED - Overview (free company information from Companies House)". Retrieved 13 September 2018.
  7. ^ "OpenBet".
  8. ^ "OPENBET RETAIL LIMITED - Overview (free company information from Companies House)". Retrieved 13 September 2018.
  9. ^ "OpenBet accredited in 2015 Sunday Times Best Companies to Work For Survey".
  10. ^ "OpenBet in £208m management buy-out". Daily Telegraph. 13 January 2011.
  11. ^ "Thompson-Hill appointed OpenBet CEO". iNTERGAME. 19 March 2013. Retrieved 23 April 2013.
  12. ^ "OpenBet grows global presence as it completes acquisition of previously outsourced Greek operations from Athens Technology Center S.A." OpenBet. 30 April 2015. Retrieved 19 May 2015.
  13. ^ Menmuir, Ted (3 June 2016). "Industry excellence recognised at EGR B2B Awards". sbcnews.co.uk. Retrieved 23 May 2024.
  14. ^ "NYX Gaming Group is pleased to announce the acquisition of OpenBet, the market leading business-to-business sportsbook and digital gaming supplier for £270.0 million". CNW Group. 4 April 2016. Retrieved 13 September 2018.
  15. ^ "Scientific Games to Acquire NYX Gaming Group". PR Newswire. 20 September 2017. Retrieved 13 September 2018.
  16. ^ "Scientific Games Unveils SG Digital - An Unrivalled Digital Gaming, Sports Betting and iLottery Provider". PR Newswire. 6 February 2018. Retrieved 13 September 2018.
  17. ^ Team, iGB Editorial (10 January 2019). "NZ TAB completes $26m relaunch". iGB. Retrieved 22 October 2023.
  18. ^ Spangler, Todd (27 September 2021). "Endeavor to Buy OpenBet Sports-Gambling Company for $1.2 Billion". Variety.
  19. ^ "Endeavor completes acquisition of sports betting company openbet". IMG Arena. Retrieved 9 December 2022.
  20. ^ "OpenBet acquires Neccton in effort to extend responsible gaming capabilities". gamingamerica.com. 13 June 2023.
  21. ^ Fletcher, Robert (13 June 2023). "OpenBet announces acquisition of Neccton". iGB. Retrieved 22 October 2023.
  22. ^ Spangler, Todd (8 August 2024). "Endeavor Says It's Shopping OpenBet, IMG Arena Sports-Gambling Units Ahead of Close of Silver Lake Go-Private Deal". Variety. Retrieved 14 November 2024.
  23. ^ Libit, Eben Novy-Williams,Daniel (11 November 2024). "Endeavor CEO Buys Endeavor Betting Biz for $450 Million". Sportico.com. Retrieved 14 November 2024.{{cite web}}: CS1 maint: multiple names: authors list (link)
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