OpenBetis a provider ofsportsbooktechnology, content and services, which is owned byEndeavor GroupHoldings, Inc as of 2021.
 | |
| Industry | Software,Gambling |
|---|---|
| Founded | 1996 |
| Headquarters | Chiswick,London |
Area served | Chiswick, London Athens, Greece Sydney, Australia Montreal, Canada |
Key people | Jordan Levin |
| Owner | OB Global Holdings LLC |
Number of employees | over 750 |
| Subsidiaries | Neccton |
Description
editIn 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 developsfront-end and back-officegaming 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 centresandinteractive television,with asingle sign-onto a centralised OpenBet account.
History
editOrbis 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 Lifejoint venturein time for the1998 World Cup.In 1999 Orbis launched their OpenBet Casino at ICE and the Sky Vegas Live Roulette channel was launched. By 2000, Ladbrokes,Surrey SportsandPaddy Powerwere live on OpenBet.[7]
In December 2000, the company was acquired byNDS Group,aNews Corporationcompany and a technology provider indigital television.James Caddy stepped down asCEOin 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 aSunday Timessurvey 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, withCOOJeremy Thompson-Hill taking over asCEOof 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 byScientific Games Corporationwith 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 Groupannounced 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 acquiredNeccton,which is a responsible gaming andfraud detectionapp provider.[20][21]
In August 2024, Endeavor announced that OpenBet and IMG Arena would be put up for sale as part of its plans togo private.[22]On November 11, 2024, it was announced that OpenBet would be sold in amanagement buyoutto a group led by Endeavor CEOAri Emanuelfor $450 million.[23]
References
edit- ^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".freeextrachips.Retrieved23 May2024.
- ^ab"OPENBET LIMITED - Overview (free company information from Companies House)".Retrieved13 September2018.
- ^"OpenBet".
- ^"OPENBET RETAIL LIMITED - Overview (free company information from Companies House)".Retrieved13 September2018.
- ^"OpenBet accredited in 2015 Sunday Times Best Companies to Work For Survey".
- ^"OpenBet in £208m management buy-out".Daily Telegraph.13 January 2011.
- ^"Thompson-Hill appointed OpenBet CEO".iNTERGAME. 19 March 2013.Retrieved23 April2013.
- ^"OpenBet grows global presence as it completes acquisition of previously outsourced Greek operations from Athens Technology Center S.A."OpenBet. 30 April 2015.Retrieved19 May2015.
- ^Menmuir, Ted (3 June 2016)."Industry excellence recognised at EGR B2B Awards".sbcnews.co.uk.Retrieved23 May2024.
- ^"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.Retrieved13 September2018.
- ^"Scientific Games to Acquire NYX Gaming Group".PR Newswire.20 September 2017.Retrieved13 September2018.
- ^"Scientific Games Unveils SG Digital - An Unrivalled Digital Gaming, Sports Betting and iLottery Provider".PR Newswire.6 February 2018.Retrieved13 September2018.
- ^Team, iGB Editorial (10 January 2019)."NZ TAB completes $26m relaunch".iGB.Retrieved22 October2023.
- ^Spangler, Todd (27 September 2021)."Endeavor to Buy OpenBet Sports-Gambling Company for $1.2 Billion".Variety.
- ^"Endeavor completes acquisition of sports betting company openbet".IMG Arena.Retrieved9 December2022.
- ^"OpenBet acquires Neccton in effort to extend responsible gaming capabilities".gamingamerica.13 June 2023.
- ^Fletcher, Robert (13 June 2023)."OpenBet announces acquisition of Neccton".iGB.Retrieved22 October2023.
- ^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.Retrieved14 November2024.
- ^Libit, Eben Novy-Williams,Daniel (11 November 2024)."Endeavor CEO Buys Endeavor Betting Biz for $450 Million".Sportico.Retrieved14 November2024.
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