OpenBet is a provider of

sportsbook In the United States, a sportsbook or a race and sports book (sometimes abbreviated as book) is a place where a gambler can wager on various sports competitions, including golf, football, basketball, baseball, ice hockey, soccer, horse racing, ...

technology, content and services. In September 2021, Endeavor Group Holdings, Inc, announced that it would acquire OpenBet for $1.2 billion in cast and stock. The acquisition was completed in September 2022.

Description

In 2020, it was the market leader in Canada where 80% of all digital sports bets were processed through its platform. In the same year in the UK, it accounted for 65%, and in Australia, 46%. The OpenBet platform is licensed in 13 US states, and last year 40% 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 Mobile may refer to: Places * Mobile, Alabama, a U.S. port city * Mobile County, Alabama * Mobile, Arizona, a small town near Phoenix, U.S. * Mobile, Newfoundland and Labrador Arts, entertainment, and media Music Groups and labels * Mobile ( ...

, retail outlets,

call centres A call centre ( Commonwealth spelling) or call center ( American spelling; see spelling differences) is a managed capability that can be centralised or remote that is used for receiving or transmitting a large volume of enquiries by telephone ...

and

interactive television Interactive television is a form of media convergence, adding data services to traditional television technology. It has included on-demand delivery of content, online shopping, and viewer polls. Interactive TV is an example of how new informatio ...

, with a

single sign-on Single sign-on (SSO) is an authentication scheme that allows a user to log in with a single ID to any of several related, yet independent, software systems. True single sign-on allows the user to log in once and access services without re-enterin ...

to a centralised OpenBet account.

History

Orbis Technology Ltd was founded on 2 February 1996 by Clive Haworth, James Caddy and Charles Malir 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. In December 2000, the company was acquired by NDS Group, a

News Corporation News Corporation (abbreviated News Corp.), also variously known as News Corporation Limited, was an American multinational mass media corporation controlled by media mogul Rupert Murdoch and headquartered at 1211 Avenue of the Americas in New ...

company and a technology provider in

digital television Digital television (DTV) is the transmission of television signals using digital encoding, in contrast to the earlier analog television technology which used analog signals. At the time of its development it was considered an innovative adva ...

. James Caddy stepped down as

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

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. It also acquired Alphameric Solutions, a software company supplying betting retail products, which was renamed as the OpenBet Retail division. It was in a ''

Sunday Times ''The Sunday Times'' is a British newspaper whose circulation makes it the largest in Britain's quality press market category. It was founded in 1821 as ''The New Observer''. It is published by Times Newspapers Ltd, a subsidiary of News UK, w ...

'' survey in 2010, and achieved a one star accreditation in 2015. In January 2011, OpenBet was sold by NDS for £208 million, in a management buyout backed by private equity firm,

Vitruvian Partners Vitruvian Partners is a European private equity firm focusing on leveraged buyout and growth capital investments in middle-market companies. Vitruvian invests throughout the UK and Europe and recently in China and India. The firm has offices ...

. In March 2013 David Loveday stepped down, with COO Jeremy Thompson-Hill taking over as

of Openbet. In April 2015, OpenBet acquired their

Greek Greek may refer to: Greece Anything of, from, or related to Greece, a country in Southern Europe: *Greeks, an ethnic group. *Greek language, a branch of the Indo-European language family. **Proto-Greek language, the assumed last common ancestor ...

branch from outsourcing partner Athens Technology Center S.A., increasing the group's headcount by 25%. In 2016, OpenBet was named sports betting supplier of the year at the eGamingReview B2B awards for the seventh successive year. Vitruvian Partners sold OpenBet to NYX Gaming Group in 2016. In 2017, NYX was acquired by

Scientific Games Corporation Light & Wonder, Inc., formerly Scientific Games Corporation (SG), is an American corporation that provides gambling products and services. The company is headquartered in Las Vegas, Nevada. Light & Wonder's gaming division provides products such ...

with OpenBet becoming part of the latter's SG Digital division in 2018. In 2019, OpenBet partnered up with the TAB NZ https://igamingbusiness.com/nz-tab-completes-26m-relaunch/

References

{{Reflist Software companies of the United Kingdom Online gambling companies of the United Kingdom Companies based in the London Borough of Hounslow 2017 mergers and acquisitions Gambling companies established in 1996 British companies established in 1996 Software companies established in 1996 2011 mergers and acquisitions 2016 mergers and acquisitions 2022 mergers and acquisitions