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{{Use dmy dates|date=May 2015}}
{{Use dmy dates|date=May 2015}}
{{Use British English|date=May 2015}}
{{Use British English|date=May 2015}}

{{Short description|British provider of sportsbook technology}}
{{Infobox company
{{Infobox company
| name = OpenBet
| name = OpenBet
| logo = OpenBet wiki.png
| logo = OpenBet logo 2021.svg
| foundation = 1996
| foundation = {{start date and age|1996}}
| location = Chiswick, London
| location = [[Chiswick]], [[London]]
| area_served = [[Australia]]<br>[[Canada]]<br>[[Greece]]<br>[[United Kingdom]]<br>[[United States]]
| area_served = Chiswick, London<br>[[Athens, Greece]]<br>[[Sydney, Australia]]<br>[[Montreal, Canada]]
| key_people = Jordan Levin
| key_people = Jordan Levin
| industry = [[Sports]], [[Software]], [[Gambling]], [[Technology]], [[Entertainment]]
| industry = [[Software]], [[Gambling]]
| owner = [[Scientific Games Corporation]]
| owner = OB Global Holdings LLC
| num_employees = over 750+
| num_employees = over 750
| subsid = Neccton
| homepage = [http://www.openbet.com www.openbet.com]
| homepage =
}}
}}


'''OpenBet''' is a leading global B2B provider of [[sportsbook]] technology, content and services. Its mission is to power growth and player engagement for sports betting operators through a global betting entertainment ecosystem. OpenBet’s client base includes more than 75 operators worldwide and 34 licences across the fastest-growing regulated sports betting markets in North America, Europe and Asia Pacific.
'''OpenBet''' is a provider of [[sportsbook]] technology, content and services, which is owned by [[Endeavor (company)|Endeavor Group]] Holdings, Inc as of 2021.


==Description==
OpenBet has a customisable and modular web, mobile and retail product suite that serves every type of sports betting operator including:
In 2020, it was the market leader in Canada where 80%<ref>Q1-21 on-shore regulated operators. ''Sports excludes horse-racing'''.'''''</ref> of all digital sports bets were processed through its platform. In the same year in the UK, it accounted for 65%,<ref>Operator Data / H2GC (FY20).</ref> and in Australia, 46%.<ref>Flutter Annual Report (FY20).</ref> The OpenBet platform is licensed in 13 US states, and last year 40%<ref>Jun-21 pro-rata estimate for US customers live as at Aug-21.</ref> of all bets in the country were carried out on its platform. OpenBet develops [[Front and back ends|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 device|mobile]], retail outlets, [[Call centre|call centres]] and [[interactive television]], with a [[single sign-on]] to a centralised OpenBet account.
* Digital operators who target online players only and need sports betting technology, content and services to drive web and mobile experiences.
* National and State lotteries who have established significant market scale and require sports betting expertise and technology to expand their online and retail sports betting product offering.
* Land-based casino operators with highly scaled customer databases seeking to leverage the growth in digital and retail sports betting.


⚫
==History==
The OpenBet platform is licensed and live in 13 US states, and last year 40%<ref>Jun-21 pro-rata estimate for US customers live as at Aug-21</ref> of all bets in the country were carried out on its platform, with additional licences currently in progress. In 2020, OpenBet was the market leader in Canada where 80%<ref>Q1-21 on-shore regulated operators. ''Sports excludes horse-racing'''.'''''</ref> of all digital sports bets were processed through its platform. In the same year in the UK, it accounted for 65%<ref>Operator Data / H2GC (FY20)</ref>, and in Australia, 46%<ref>Flutter Annual Report (FY20)</ref>.
⚫
Orbis Technology Ltd was founded on 2 February 1996 by Clive Haworth, James Caddy and Charles Malir.<ref>{{cite web |title=Orbis Technology founded in 1996 |url=https://www.freeextrachips.com/online-casinos/software/openbet |access-date=2024-05-23 |website=freeextrachips.com}}</ref><ref name="comphouse">{{cite web|url=https://beta.companieshouse.gov.uk/company/03134634|title=OPENBET LIMITED - Overview (free company information from Companies House)|accessdate=13 September 2018}}</ref>


⚫
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.<ref>{{cite web | url=http://www.casinoreviews365.com/software/openbet | title=OpenBet}}</ref>
==Products and services==
OpenBet develops [[Front and back ends|front-end and back-office]] gaming products, including management and reporting tools. Its [[Scalability|scalable]] platform has been described as ‘the Swiss Army Knife’<ref>{{Cite web|title=www.captaincharity.com|url=https://www.captaincharity.com/openbet-sg-digital-a-success-gambling-company-from-britain/|url-status=live}}</ref> of sports betting software. Supporting 60,000+ peak bets per minute, it’s designed to allow users to bet and play in multiple languages and currencies across several products and platforms, potentially including web, [[mobile device]]s, retail outlets, [[call centre]]s and [[interactive television]], with [[single sign-on]] to a centralised OpenBet account.


⚫
In December 2000, the company was acquired by [[NDS Group]], a [[News Corporation (1980–2013)|News Corporation]] company and a technology provider in [[digital television]]. James Caddy stepped down as [[Chief executive officer|CEO]] in 2004 with David Loveday taking over. NT Media was acquired in September 2005 and then Electracade in December 2008.
Its powerful technology is used by some of the world’s biggest operators. Featuring [[Modular design|modular]] and operator-centric technology, it has provided 100% [[uptime]] during key sporting events such as the NFL [[Super Bowl]], the [[Melbourne Cup]] and the [[Grand National]].
⚫
⚫
In 2010, Orbis Technology was renamed to OpenBet, the name of its eponymous software betting platform.<ref name="comphouse"/> It also acquired Alphameric Solutions, a software company supplying betting retail products, which was renamed as the OpenBet Retail division.<ref>{{cite web|url=https://beta.companieshouse.gov.uk/company/02730742|title=OPENBET RETAIL LIMITED - Overview (free company information from Companies House)|accessdate=13 September 2018}}</ref>


It was in a ''[[Sunday Times]]'' survey in 2010, and achieved a one star accreditation in 2015.<ref>{{Cite web|title=OpenBet accredited in 2015 Sunday Times Best Companies to Work For Survey|url=https://sbcnews.co.uk/technology/2015/03/03/openbet-accredited-in-2015-sunday-times-best-companies-to-work-for-survey/}}</ref>
OpenBet’s end-to-end turnkey and customisable web, mobile and retail sports betting solutions have five core elements:


⚫
In January 2011, OpenBet was sold by NDS for £208 million, in a management buyout backed by private equity firm, [[Vitruvian Partners]].<ref name=buyout>{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8255926/OpenBet-in-208m-management-buy-out.html|title=OpenBet in £208m management buy-out|publisher=[[Daily Telegraph]]|date=2011-01-13}}</ref> In March 2013 David Loveday stepped down, with [[Chief Operating Officer|COO]] Jeremy Thompson-Hill taking over as [[Chief executive officer|CEO]] of Openbet.<ref>{{cite web | url=http://www.intergameonline.com/i-gaming/news/9087/thompson-hill-appointed-openbet-ceo | title=Thompson-Hill appointed OpenBet CEO | publisher=iNTERGAME | date=2013-03-19 | accessdate=2013-04-23}}</ref>
# '''The player account''' Player account technology enables players to register and play on an operator’s website, [[mobile app]] or retail terminal. As well as being used by operators to manage individual customer accounts, it acts as a wallet providing players with a single username, password, balance and transaction history across all mobile, web and retail products. The player account has over 30 payment integration points that process over 75 million peak daily interactions. OpenBet’s comprehensive, widget-based [[Software development kit|Software Development Kit (SDK)]] allows operators to build an impressive player experience with additional layers of promotional, [[Customer relationship management|CRM]] and [[Responsible gambling|responsible gaming]] tools. Player account products are vertical agnostic so they can be used in other consumer verticals, such as iGaming, to open up opportunities for future growth.
# '''The betting engine''' OpenBet’s betting engine processes every individual sports bet that players place on an operator’s web and mobile sites and retail terminals. The technology is highly robust and versatile and can be tailored to individual operator demands. With 100% uptime during key sporting events, and 100% operator renewals year-over-year, it is widely regarded as the industry’s leading sports betting engine. More than 3 billion bets are placed annually on OpenBet’s betting engine, with more than 60,000 peak bets per minute.
# '''Front-end user interfaces''' Players can deposit funds, pick and place their bets and participate in promotional campaigns using OpenBet’s mobile, web and retail interfaces. Over the past four years, OpenBet has invested approximately $20 million to offer a solution for operators that is configurable across mobile, web and retail channels. OpenBet provides the design and services, or the tools via widget-based software development kits (SDKs), allowing operators to innovate on top of its technology platform. Interfaces provide operators with a unified, seamless user experience across multiple products. They also offer a range of languages and currency options with the ability to select a preferred odds format.
# '''Managed trading services''' Operators can manage the pricing and risk of all sports betting events using OpenBet’s sports betting pricing and trading services. The dedicated team offers 24/7 support and covers more than 350,000 annual events worldwide, including all USA Big 6 sports events in 2021. Managed trading services offers a suite of modular sportsbook and player account systems, supplemented by OpenBet’s sports betting content. This can be delivered to any customer worldwide regardless of their core technology. Through its managed trading and risk solution, OpenBet receives betting data from operators and works with them to run sportsbook trading on their behalf to deliver optimised margins and strong player propositions.  
# '''Sports content''' OpenBet builds and distributes a wide range of in-house and third-party sports content. This includes proprietary technology from SportCast<ref>{{Cite web|title=Scientific Games Acquires SportCast To Redefine Sports Betting Experiences|url=https://www.prnewswire.com/news-releases/scientific-games-acquires-sportcast-to-redefine-sports-betting-experiences-301299532.html|url-status=live}}</ref> that allows players to combine multiple bets on a single game through BetBuilder software which provides access to over 50 markets within seconds of a game’s end. Content also includes market-leading sports data feeds from Don Best<ref>{{Cite web|title=Scientific Games has completed its acquisition of sports odds and data services supplier Don Best Sports.|url=https://www.casino-review.co/scientific-games-don-best-sport-acquisition/|url-status=live}}</ref>, which was acquired in 2018. Don Best combines experiential expertise and proprietary algorithms and analytics with aggregated data feeds from a number of sportsbooks. OpenBet has also built OpenArena – one of the world’s first sports content aggregation platforms. Operators can use OpenArena to choose from content covering virtual sports, esports, free-to-play, and data feeds including BetBuilder.


⚫
In April 2015, OpenBet acquired their Greek branch from outsourcing partner Athens Technology Center S.A., increasing the group's headcount by 25%.<ref>{{cite web | url=http://www.openbet.com/media/press-release/id/openbet-grows-global-presence-as-it-completes-acquisition-of-previously-outsourced-greek-operations-from-athens-technology-center-s-a | title=OpenBet grows global presence as it completes acquisition of previously outsourced Greek operations from Athens Technology Center S.A. | publisher=OpenBet | date=2015-04-30 | accessdate=2015-05-19}}</ref>


In 2016, OpenBet was named sports betting supplier of the year at the eGamingReview B2B awards for the seventh successive year.<ref>{{Cite web |last=Menmuir |first=Ted |date=June 3, 2016 |title=Industry excellence recognised at EGR B2B Awards |url=https://sbcnews.co.uk/europe/2016/06/03/industry-excellence-recognised-at-egr-b2b-awards/ |access-date=2024-05-23 |website=sbcnews.co.uk}}</ref> Vitruvian Partners sold OpenBet to NYX Gaming Group in 2016.<ref>{{cite web|url=https://www.newswire.ca/news-releases/nyx-gaming-group-is-pleased-to-announce-the-acquisition-of-openbet-the-market-leading-business-to-business-sportsbook-and-digital-gaming-supplier-for-2700-million-574461081.html|title=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|date=4 April 2016|work=[[CNW Group]]|accessdate=13 September 2018}}</ref>
OpenBet clients include [[FanDuel]]<ref>{{Cite web|title=FanDuel Group Launches Scientific Games’ OpenSports™ Technology in Illinois and Indiana|url=https://www.openbet.com/news/fanduel-group-launches-scientific-games-opensports-technology-in-illinois-and-indiana|url-status=live}}</ref>, [[DraftKings]], [[Ladbrokes]], [[William Hill (bookmaker)|William Hill]], [[Betfair]],<ref name="buyout" />, [[Paddy Power]],<ref>{{cite web|url=http://www.casinoscamreport.com/2011/08/08/paddy-power%E2%80%99s-sportsbet-re-launched-in-australian-marketplace/|title=Paddy Power’s Sportsbet Re-launched in Australian Marketplace|publisher=casinoscamreport.com|date=2011-08-08}}</ref> [[Sky Betting and Gaming]],<ref>{{cite web|url = https://www.gamblinginsider.com/news/240/openbet-renew-sky-bet-deal|title = OpenBet renew Sky Bet deal|publisher = Gambling Insider|date = 2013-01-16}}</ref> [http://sportsbet.com.au Sportsbet.com.au], WynnBet, Caesars Interactive, BetMGM, [[Danske Spil]], Nederlandse Loterij<ref>{{Cite web|title=Netherlands National Lottery Live with Scientific Games’ OpenBet™ on Day One of Market Opening|url=https://www.openbet.com/news/netherlands-national-lottery-live-with-scientific-games-openbet-sports-technology-on-day-one-of-market-opening|url-status=live}}</ref>, Canadian state lotteries: [[British Columbia Lottery Corporation|BCLC]], [[Loto-Québec]], Manitoba and [[Atlantic Lottery Corporation]].<ref>{{cite web|url=http://www.gaming-awards.com/NEWS/archives/7789|title=OpenBet opens up in North America|publisher=iGaming Post|date=2012-04-11}}</ref>

⚫
==History==
⚫
Orbis Technology Ltd was founded on 2 February 1996 by Clive Haworth, James Caddy and Charles Malir<ref>{{cite web | url=https://www.freeextrachips.com/online-casinos/software/openbet | title=Orbis Technology founded in 1996}}</ref><ref name="comphouse">{{cite web|url=https://beta.companieshouse.gov.uk/company/03134634|title=OPENBET LIMITED - Overview (free company information from Companies House)|accessdate=13 September 2018}}</ref>

⚫
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.<ref>{{cite web | url=http://www.casinoreviews365.com/software/openbet | title=OpenBet}}</ref>

⚫
In December 2000, the company was acquired by [[NDS Group|NDS]], a [[News Corporation (1980–2013)|News Corporation]] company and a technology provider in [[digital television]]. James Caddy stepped down as [[Chief executive officer|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.<ref name="comphouse"/> It also acquired Alphameric Solutions, a software company supplying betting retail products, which was renamed as the OpenBet Retail division.<ref>{{cite web|url=https://beta.companieshouse.gov.uk/company/02730742|title=OPENBET RETAIL LIMITED - Overview (free company information from Companies House)|accessdate=13 September 2018}}</ref>
⚫
In January 2011, OpenBet was sold by NDS for £208m, in a management buyout backed by private equity firm, [[Vitruvian Partners]].<ref name=buyout>{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8255926/OpenBet-in-208m-management-buy-out.html|title=OpenBet in £208m management buy-out|publisher=[[Daily Telegraph]]|date=2011-01-13}}</ref> In March 2013 David Loveday stepped down, with [[Chief Operating Officer|COO]] Jeremy Thompson-Hill taking over as [[Chief executive officer|CEO]] of Openbet.<ref>{{cite web | url=http://www.intergameonline.com/i-gaming/news/9087/thompson-hill-appointed-openbet-ceo | title=Thompson-Hill appointed OpenBet CEO | publisher=iNTERGAME | date=2013-03-19 | accessdate=2013-04-23}}</ref>

⚫
In April 2015, OpenBet acquired their [[Greece|Greek]] branch from outsourcing partner Athens Technology Center S.A., increasing the group's headcount by 25%.<ref>{{cite web | url=http://www.openbet.com/media/press-release/id/openbet-grows-global-presence-as-it-completes-acquisition-of-previously-outsourced-greek-operations-from-athens-technology-center-s-a | title=OpenBet grows global presence as it completes acquisition of previously outsourced Greek operations from Athens Technology Center S.A. | publisher=OpenBet | date=2015-04-30 | accessdate=2015-05-19}}</ref>


Vitruvian Partners sold OpenBet to ... Gaming Group in 2016.<ref>{{cite web|url=https://www.newswire.ca/news-releases/nyx-gaming-group-is-pleased-to-announce-the-acquisition-of-openbet-the-market-leading-business-to-business-sportsbook-and-digital-gaming-supplier-for-2700-million-574461081.html|title=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|date=4 April 2016|work=[[CNW Group]]|accessdate=13 September 2018}}</ref>
In 2017, NYX was acquired by [[Scientific Games|Scientific Games Corporation]] with OpenBet becoming part of the latter's SG Digital division in 2018.<ref>{{cite web|url=https://www.prnewswire.com/news-releases/scientific-games-to-acquire-nyx-gaming-group-300522810.html|title=Scientific Games to Acquire NYX Gaming Group|date=20 September 2017|work=[[PR Newswire]]|accessdate=13 September 2018}}</ref><ref>{{cite web|url=https://www.prnewswire.com/news-releases/scientific-games-unveils-sg-digital--an-unrivalled-digital-gaming-sports-betting-and-ilottery-provider-300594377.html|title=Scientific Games Unveils SG Digital - An Unrivalled Digital Gaming, Sports Betting and iLottery Provider|date=6 February 2018|work=[[PR Newswire]]|accessdate=13 September 2018}}</ref>


In 2019, OpenBet partnered up with the TAB NZ, a New Zealand betting site.<ref>{{Cite web |last=Team |first=iGB Editorial |date=2019-01-10 |title=NZ TAB completes $26m relaunch |url=https://igamingbusiness.com/sports-betting/nz-tab-completes-26m-relaunch/ |access-date=2023-10-22 |website=iGB |language=en-US}}</ref>
In 2017, NYX was acquired by [[Scientific Games Corporation]] with OpenBet becoming part of the latter's SG Digital division in 2018.<ref>{{cite web|url=https://www.prnewswire.com/news-releases/scientific-games-to-acquire-nyx-gaming-group-300522810.html|title=Scientific Games to Acquire NYX Gaming Group|date=20 September 2017|work=[[PR Newswire]]|accessdate=13 September 2018}}</ref><ref>{{cite web|url=https://www.prnewswire.com/news-releases/scientific-games-unveils-sg-digital--an-unrivalled-digital-gaming-sports-betting-and-ilottery-provider-300594377.html|title=Scientific Games Unveils SG Digital - An Unrivalled Digital Gaming, Sports Betting and iLottery Provider|date=6 February 2018|work=[[PR Newswire]]|accessdate=13 September 2018}}</ref>


In September 2021, [[Endeavor (company)|Endeavor]] announced that it would acquire OpenBet for $1.2 billion in cast and stock.<ref>{{cite web|title= Endeavor to Buy OpenBet Sports-Gambling Company for $1.2 Billion|url=https://variety.com/2021/biz/news/endeavor-acquires-openbet-1235075561/|work=[[Variety (magazine)|Variety]]|date=September 27, 2021|first=Todd|last=Spangler}}</ref>
In September 2021, [[Endeavor (company)|Endeavor Group]] announced that it would acquire OpenBet for $1.2 billion in cash and stock.<ref>{{cite web |last=Spangler |first=Todd |date=September 27, 2021 |title=Endeavor to Buy OpenBet Sports-Gambling Company for $1.2 Billion |url=https://variety.com/2021/biz/news/endeavor-acquires-openbet-1235075561/ |work=[[Variety (magazine)|Variety]]}}</ref> The acquisition was completed in September 2022.<ref>{{Cite news |title=Endeavor completes acquisition of sports betting company openbet |language=en-US |work=IMG Arena |url=https://www.imgarena.com/news/endeavor-completes-acquisition-of-sports-betting-company-openbet/ |access-date=2022-12-09}}</ref>


In June 2023, OpenBet acquired [[Neccton]], which is a responsible gaming and [[fraud detection]] app provider.<ref>{{Cite web |date=2023-06-13 |title=OpenBet acquires Neccton in effort to extend responsible gaming capabilities |url=https://gamingamerica.com/news/7925/openbet-acquires-neccton-in-effort-to-extend-responsible-gaming-capabilities |website=gamingamerica.com}}</ref><ref>{{Cite web |last=Fletcher |first=Robert |date=2023-06-13 |title=OpenBet announces acquisition of Neccton |url=https://igamingbusiness.com/strategy/ma/openbet-announces-acquisition-of-neccton/ |access-date=2023-10-22 |website=iGB |language=en-US}}</ref>
==Awards and recognition==
OpenBet was voted one of the best 100 companies to work for in the UK according to a ''[[Sunday Times]]'' survey in 2010,<ref name="times">[http://business.timesonline.co.uk/tol/business/career_and_jobs/best_100_companies/article7030347.ece Times top 100 companies]</ref>{{subscription required}} and later achieved a one-star accreditation in 2015.<ref>[http://www.sbcnews.co.uk/technology/2015/03/03/openbet-accredited-in-2015-sunday-times-best-companies-to-work-for-survey/]</ref>


In August 2024, Endeavor announced that OpenBet and IMG Arena would be put up for sale as part of its plans to [[Privatization|go private]].<ref>{{Cite web |last=Spangler |first=Todd |date=2024-08-08 |title=Endeavor Says It’s Shopping OpenBet, IMG Arena Sports-Gambling Units Ahead of Close of Silver Lake Go-Private Deal |url=https://variety.com/2024/biz/news/endeavor-openbet-img-arena-silver-lake-sale-1236100186/ |access-date=2024-11-14 |website=Variety |language=en-US}}</ref> 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.<ref>{{Cite web |last=Libit |first=Eben Novy-Williams,Daniel |date=2024-11-11 |title=Endeavor CEO Buys Endeavor Betting Biz for $450 Million |url=https://www.sportico.com/business/sports-betting/2024/ari-emanuel-openbet-img-arena-endeavor-sale-1234804599/ |access-date=2024-11-14 |website=Sportico.com |language=en-US}}</ref>
In 2016, OpenBet was named sports betting supplier of the year at the eGamingReview B2B awards for the seventh successive year.<ref>{{cite web|url=https://sbcnews.co.uk/europe/2016/06/03/industry-excellence-recognised-at-egr-b2b-awards/|title=Industry excellence recognised at EGR B2B awards|date=3 June 2016|work=SBC News|accessdate=13 September 2018}}</ref><ref>{{cite web|url=https://www.openbet.com/press/general/nyx-gaming-group-wins-major-egr-b2b-awards|title=NYX Gaming Group wins major EGR B2B Awards|date=2 June 2016|work=OpenBet|accessdate=13 September 2018}}</ref>


==References==
==References==
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[[Category:Online gambling companies of the United Kingdom]]
[[Category:Online gambling companies of the United Kingdom]]
[[Category:Companies based in the London Borough of Hounslow]]
[[Category:Companies based in the London Borough of Hounslow]]
[[Category:Announced mergers and acquisitions]]
[[Category:2017 mergers and acquisitions]]
[[Category:Gambling companies established in 1996]]
[[Category:Gambling companies established in 1996]]
[[Category:British companies established in 1996]]
[[Category:British companies established in 1996]]
[[Category:Software companies established in 1996]]
[[Category:2011 mergers and acquisitions]]
[[Category:2016 mergers and acquisitions]]
[[Category:2022 mergers and acquisitions]]

Latest revision as of 16:31, 14 November 2024

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

[edit]

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

[edit]

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

[edit]
  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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