OpenBet
{{Use dmy dates|date=May 2015}}
{{Use British English|date=May 2015}}
{{Short description|British provider of sportsbook technology}}
{{Infobox company
| name = OpenBet
| logo = OpenBet logo 2021.svg
| foundation = {{start date and age|1996}}
| area_served = Chiswick, London
Athens, Greece
Sydney, Australia
Montreal, Canada
| key_people = Jordan Levin
| industry = Software, Gambling
| owner = OB Global Holdings LLC
| num_employees = over 750
| subsid = Neccton
| homepage =
}}
OpenBet is a provider of sportsbook technology, content and services, which is owned by OB Global Holdings LLC as of 2025.
Description
In 2020, it was the market leader in Canada where 80%Q1-21 on-shore regulated operators. Sports excludes horse-racing. of all digital sports bets were processed through its platform. In the same year in the UK, it accounted for 65%,Operator Data / H2GC (FY20). and in Australia, 46%.Flutter Annual Report (FY20). The OpenBet platform is licensed in 13 US states, and last year 40%Jun-21 pro-rata estimate for US customers live as at Aug-21. 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
Orbis Technology Ltd was founded on 2 February 1996 by Clive Haworth, James Caddy and Charles Malir.{{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}}{{cite web|url=https://beta.companieshouse.gov.uk/company/03134634|title=OPENBET LIMITED - Overview (free company information from Companies House)|accessdate=13 September 2018}}
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.{{cite web | url=http://www.casinoreviews365.com/software/openbet | title=OpenBet}}
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. It also acquired Alphameric Solutions, a software company supplying betting retail products, which was renamed as the OpenBet Retail division.{{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}}
It was in a Sunday Times survey in 2010, and achieved a one star accreditation in 2015.{{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/}}
In January 2011, OpenBet was sold by NDS for £208 million, in a management buyout backed by private equity firm, Vitruvian Partners.{{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}} In March 2013 David Loveday stepped down, with COO Jeremy Thompson-Hill taking over as CEO of Openbet.{{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}}
In April 2015, OpenBet acquired their Greek branch from outsourcing partner Athens Technology Center S.A., increasing the group's headcount by 25%.{{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}}
In 2016, OpenBet was named sports betting supplier of the year at the eGamingReview B2B awards for the seventh successive year.{{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}} Vitruvian Partners sold OpenBet to NYX Gaming Group in 2016.{{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}}
In 2017, NYX was acquired by Scientific Games Corporation with OpenBet becoming part of the latter's SG Digital division in 2018.{{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}}{{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}}
In 2019, OpenBet partnered up with the TAB NZ, a New Zealand betting site.{{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}}
In September 2021, Endeavor Group announced that it would acquire OpenBet for $1.2 billion in cash and stock.{{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}} The acquisition was completed in September 2022.{{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}}
In June 2023, OpenBet acquired Neccton, which is a responsible gaming and fraud detection app provider.{{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}}{{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}}
In August 2024, Endeavor announced that OpenBet and IMG Arena would be put up for sale as part of its plans to go private.{{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}} 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.{{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}}
References
{{Reflist}}
Category:Software companies of the United Kingdom
Category:Online gambling companies of the United Kingdom
Category:Companies based in the London Borough of Hounslow
Category:2017 mergers and acquisitions
Category:Gambling companies established in 1996
Category:British companies established in 1996
Category:Software companies established in 1996
Category:2011 mergers and acquisitions