IAGA SUMMIT FOCUS: SPORTS BETTING REGULATION
Could you provide an overview of OpenBet's presence in North America? Who are OpenBet's biggest customers in the market?
In Canada, we support two of the biggest lottery corporations, Loto-Québec and the British Columbia Lottery Corporation. Tey are market leaders and are long-time partners of OpenBet. In addition, we're licensed in Ontario and have several customers that take our content. Canada's an exciting and interesting market. In the US, we're partnered with FanDuel to provide our sportsbook technology and services.
It's been amazing to grow with them across the US. Tey're an industry leader, and they've been super to work with. In addition to that, we support regional and multi-state operators in retail, digital, commercial, and tribal. We've got our hands in a lot of markets, and I'd be remiss not to mention our content available through SportCast including the BetBuilder product and our managed trading and risk management services through Don Best.
As a supplier to many of North America’s tier one operators, what issues are at the top of OpenBet's agenda?
As a compliance professional, I think one of the most interesting parts of this business is the intersection between innovation in the gaming industry and the regulatory landscape. We must be so thoughtful about adopting new technologies and creating new services and tools because of the regulatory scrutiny it's going to need to pass before it's deployed.
I'd say we're tracking several hot button issues that really are not just gaming industry issues, but everywhere, including artificial intelligence and cybersecurity, player protection, and so much more. And while all of these are critical components, they really come together in that player protection element.
What our industry and OpenBet can really do is to make sure the players who are using gaming products trust that they're being treated fairly, but also that their data and information is being kept secure. We take so much data about our players, and they need to trust us with that. To that end, at OpenBet we've developed what we're calling the 'Protect Pillar' to focus on efforts around developing key tools and RegTech we think will lead the regulatory system and industry into a sustainable model.
A core focus of that pillar has been responsible gaming. We acquired a company last year, Neccton, that uses AI for RG and we're invested in this to be a market leader. Ultimately, doing right by bettors is what's going to make them use legal regulated products, feel safe and secure, and provide long-term sustainability for the business.
Could you go into a bit more detail about Neccton and the technology you're using there?
We acquired Neccton in June of last year, but they've been live across the UK and Europe for
Jessica Feil Vice President, Regulatory Affairs & Compliance, OpenBet
Jessica Feil has served as Vice President, Regulatory Affairs & Compliance at OpenBet since 2022. Jessica previously held the position of Vice President, Government Relations & Gaming Policy Counsel at the AGA, where she was one of North America’s leading legal and regulatory experts. Jessica started her career at Ifrah Law, where she advised clients on a variety of areas including regulation, compliance and licensing.
“Ultimately, doing right by bettors is what's going to
make them use legal regulated products, feel safe and secure, and provide long-term sustainability for the business.”
over a decade now. Tey were founded by a behavioural scientist, who studies players and markers of harm in the responsibility space, and a computer scientist who has developed the machine learning technology behind it.
Neccton's technology is mostly deployed for responsible gambling purposes, but we also use it for AML and fraud detection. On the RG element, Neccton's technology takes in data about players in real-time, makes assessments about them and provides a risk score. Te factors that go into developing this risk score are based on the research that one of the founders has done over his career about what is truly a marker of harm.
So, things like when you're playing, how much you're playing, velocity of play, whether you're changing the games you're playing, chasing losses and all those things. He's developed this through years of studying data of real players in Europe with a variety of our customers there. It's based on scientific evidence that has been published in academic studies and is verifiable.
With Neccton, we create a risk score for every single player, high, medium, or low. From there, there's great tools in the system to help keep players in the safe zone, so to speak. Most players are playing for entertainment and safely, but a very small number of high-risk players need more intensive engagement and intervention.
But you also have a window where people start to show some risk and that's where the tool really shines because it has a variety of ways to
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