OpenBet: Difference between revisions

OpenBet
Industry	Software, Gambling
Founded	1996
Headquarters	Chiswick, London
Area served	Chiswick, London; Athens, Greece; Sydney, Australia; Montreal, Canada
Key people	Jordan Levin
Owner	Scientific Games Corporation
Number of employees	over 750

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Revision as of 13:30, 19 November 2021

OpenBet is a global B2B provider of sportsbook technology, content and services. It provides a sports betting ecosystem for 75+ operators around the world and holds 34 licences across the regulated sports betting markets in North America, Europe and Asia Pacific.

OpenBet offers a customizable and modular web, mobile and retail product suite aimed at sports betting operators including:

· Digital operators targeting online players only.

· National and State lotteries with significant market scale.

· Land-based casino operators with highly scaled customer databases.

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 also licensed and live in 13 US states, and last year 40%^[4] of all bets in the country were carried out on its platform, with additional licences currently in progress.

Products and Services

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.

Its technology has been used to support key sporting events such as the NFL Super Bowl, the Melbourne Cup and the Grand National where it provided 100% uptime.

OpenBet’s turnkey sports betting solutions have five core elements:

1. 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.

OpenBet’s widget-based Software Development Kit (SDK) allows operators to build a player experience with additional layers of promotional, CRM and responsible gaming tools.

Player account products are vertical agnostic which means they can be used in other consumer verticals, such as iGaming.

2. The betting engine

OpenBet’s betting engine processes the bets placed on an operator’s web and mobile sites and retail terminals. The technology can be tailored to individual operator demands.

It’s betting engine accommodates more than 3 billion bets a year, including 60,000 peak bets per minute.

3. 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. They come with a range of languages and currency options and the option to select a preferred odds format.

4. Managed trading services

Operators can manage the pricing and risk of sports betting events using OpenBet’s sports betting pricing and trading services.

These include a suite of modular sportsbook and player account systems, supplemented by OpenBet’s sports betting content.

Through its managed trading and risk solution, OpenBet receives betting data from operators and works with them to run sportsbook trading on their behalf.

5. Sports content

OpenBet builds and distributes a range of in-house and third-party sports content.

This includes proprietary technology from SportCast that allows players to combine multiple bets on a single game. It uses BetBuilder software which provides access to over 50 markets within seconds of a game’s end.

Content also includes sports data feeds from DonBest, which was acquired in 2018. DonBest combines proprietary algorithms and analytics with aggregated data feeds from a number of sportsbooks.

OpenBet 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.

OpenBet clients include Ladbrokes, William Hill, Betfair, FanDuel, DraftKings, Paddy Power, Sky Betting and Gaming, Sportsbet.com.au, France’s Paris Mutuel Urbain and Canadian state lotteries: BCLC, Loto-Québec, Manitoba and Atlantic Lottery Corporation.

History

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, 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]

In January 2011, OpenBet was sold by NDS for £208m, in a management buyout backed by private equity firm, Vitruvian Partners.^[9] In March 2013 David Loveday stepped down, with COO Jeremy Thompson-Hill taking over as CEO of Openbet.^[10]

In April 2015, OpenBet acquired their Greek branch from outsourcing partner Athens Technology Center S.A., increasing the group's headcount by 25%.^[11]

Vitruvian Partners sold OpenBet to NYX Gaming Group in 2016.^[12]

In 2017, NYX was acquired by Scientific Games Corporation with OpenBet becoming part of the latter's SG Digital division in 2018.^[13]^[14]

In September 2021, Endeavor announced that it would acquire OpenBet for $1.2 billion in cast and stock.^[15]

Awards and recognition

In 2016, OpenBet was named sports betting supplier of the year at the eGamingReview B2B awards for the seventh successive year.

It was also voted one of the best 100 companies to work for in the UK according to a Sunday Times survey in 2010,(subscription required) and later achieved a one star accreditation in 2015.

References

^ Q1-21 on-shore regulated operators. Sports excludes horse-racing.
^ Operator Data / H2GC (FY20).
^ Flutter Annual Report (FY20).
^ Jun-21 pro-rata estimate for US customers live as at Aug-21.
^ "Orbis Technology founded in 1996".
^ ^a ^b "OPENBET LIMITED - Overview (free company information from Companies House)". Retrieved 13 September 2018.
^ "OpenBet".
^ "OPENBET RETAIL LIMITED - Overview (free company information from Companies House)". Retrieved 13 September 2018.
^ "OpenBet in £208m management buy-out". Daily Telegraph. 13 January 2011.
^ "Thompson-Hill appointed OpenBet CEO". iNTERGAME. 19 March 2013. Retrieved 23 April 2013.
^ "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.
^ "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.
^ "Scientific Games to Acquire NYX Gaming Group". PR Newswire. 20 September 2017. Retrieved 13 September 2018.
^ "Scientific Games Unveils SG Digital - An Unrivalled Digital Gaming, Sports Betting and iLottery Provider". PR Newswire. 6 February 2018. Retrieved 13 September 2018.
^ Spangler, Todd (27 September 2021). "Endeavor to Buy OpenBet Sports-Gambling Company for $1.2 Billion". Variety.

[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".

[comphouse-6] "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.

[buyout-9] "OpenBet in £208m management buy-out". Daily Telegraph. 13 January 2011.

[10] "Thompson-Hill appointed OpenBet CEO". iNTERGAME. 19 March 2013. Retrieved 23 April 2013.

[11] "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.

[12] "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.

[13] "Scientific Games to Acquire NYX Gaming Group". PR Newswire. 20 September 2017. Retrieved 13 September 2018.

[14] "Scientific Games Unveils SG Digital - An Unrivalled Digital Gaming, Sports Betting and iLottery Provider". PR Newswire. 6 February 2018. Retrieved 13 September 2018.

[15] Spangler, Todd (27 September 2021). "Endeavor to Buy OpenBet Sports-Gambling Company for $1.2 Billion". Variety.

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@@ Line 12: / Line 12: @@
 | homepage            =
 }}
+'''OpenBet''' is a global B2B provider of [[sportsbook]] technology, content and services. It provides a sports betting ecosystem for 75+ operators around the world and holds 34 licences across the regulated sports betting markets in North America, Europe and Asia Pacific.
-'''OpenBet''' is a [[sportsbook]] and gaming [[software]] company based in [[Chiswick]], [[London]] in the United Kingdom, with offices in [[Athens]], Greece, [[Sydney]], Australia and [[Montreal]], Canada.<ref name="contact">[http://www.openbet.com/contact/details Openbet Contact Page]</ref> It supplies [[bookmaker]]s, national [[lotteries]] and other government-backed betting organisations in regulated markets.
+OpenBet offers a customizable and modular web, mobile and retail product suite aimed at sports betting operators including:
-==Products==
-OpenBet develops [[Front and back ends|front-end and back-office]] gaming products, including management and reporting tools. Its OpenBet platform is 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.
+·       Digital operators targeting online players only.
-Clients include [[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], France’s Paris Mutuel Urbain and 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>
+·       National and State lotteries with significant market scale.
+·       Land-based casino operators with highly scaled customer databases.
+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 also 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.
+==Products and Services==
+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.
+Its technology has been used to support key sporting events such as the NFL [[Super Bowl]], the [[Melbourne Cup]] and the [[Grand National]] where it provided 100% uptime.
+OpenBet’s [[turnkey]] sports betting solutions have five core elements:
+'''1.     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.
+OpenBet’s widget-based [[Software development kit|Software Development Kit (SDK)]] allows operators to build a player experience with additional layers of promotional, [[Customer relationship management|CRM]] and [[Responsible gambling|responsible gaming]] tools.
+Player account products are vertical [[Agnostic (data)|agnostic]] which means they can be used in other consumer verticals, such as iGaming.
+'''2.     The betting engine'''
+OpenBet’s betting engine processes the bets placed on an operator’s web and mobile sites and retail terminals. The technology can be tailored to individual operator demands.
+It’s betting engine accommodates more than 3 billion bets a year, including 60,000 peak bets per minute.
+'''3.     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. They come with a range of languages and currency options and the option to select a preferred odds format.
+'''4.     Managed trading services'''
+Operators can manage the pricing and risk of sports betting events using OpenBet’s sports betting pricing and trading services.
+These include a suite of modular sportsbook and player account systems, supplemented by OpenBet’s sports betting content.
+Through its managed trading and risk solution, OpenBet receives betting data from operators and works with them to run sportsbook trading on their behalf.
+'''5.     Sports content'''
+OpenBet builds and distributes a range of in-house and third-party sports content.
+This includes proprietary technology from SportCast that allows players to combine multiple bets on a single game. It uses BetBuilder software which provides access to over 50 markets within seconds of a game’s end.
+Content also includes sports data feeds from DonBest, which was acquired in 2018. DonBest combines proprietary algorithms and analytics with aggregated data feeds from a number of sportsbooks.
+OpenBet 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.
+OpenBet clients include [[Ladbrokes]], [[William Hill (bookmaker)|William Hill]], [[Betfair]], [[FanDuel]], [[DraftKings]], [[Paddy Power]], [[Sky Betting and Gaming]], Sportsbet.com.au, France’s Paris Mutuel Urbain and Canadian state lotteries: [[British Columbia Lottery Corporation|BCLC]], [[Loto-Québec]], Manitoba and [[Atlantic Lottery Corporation]].
 ==History==
@@ Line 37: / Line 90: @@
 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>
+== Awards and recognition ==
+In 2016, OpenBet was named sports betting supplier of the year at the eGamingReview B2B awards for the seventh successive year.
+It was also voted one of the best 100 companies to work for in the UK according to a [[Sunday Times|''Sunday Times'']] survey in 2010,(subscription required) and later achieved a one star accreditation in 2015.
 ==References==