EGR Intel on the secrets behind OpenBet's recent success
12th May 2022 - EGR Intel speaks with Jordan Levin, CEO of OpenBet, to determine the secrets behind the company’s recent success, the way in which it continues to evolve and how it will redefine sports betting entertainment as part of the Endeavor Group
After being named best full-service platform provider and sportsbook platform supplier at the EGR North America Awards, it is clear OpenBet remains a leading force within the North American sports betting space. Following a strong year packed with significant commercial success and a stellar platform performance across major sporting events, the future looks bright for the company as it prepares to formally join Endeavor Group Holdings, the global sports and entertainment conglomerate, later this year.
EGR Intel: Congratulations at your recent wins at the EGR North America Awards 2022. What have been some of the key highlights for OpenBet during the previous 12 months?
Jordan Levin (JL): The last 12 months have been a period of exponential growth for OpenBet. Most recently, we powered half a billion sports betting transactions during the 2022 edition of Cheltenham Festival and continued to deliver 100% uptime at key sporting events such as Super Bowl LVI and the Grand National, with the latter demonstrating an impressive 50 million processed bets. OpenBet is already a well-known brand in sports betting technology, and our headline news, namely the ongoing move to the Endeavor family, means we can begin to pick up momentum even further. We are entering into the most exciting period to date for the company; we have the potential to deliver a product offering that shakes up the sports betting landscape and change the way in which bettors engage with sports.
EGR Intel: How does OpenBet’s platform technology, content and services set the company apart from the competition?
JL: In an industry where marketing costs are at a premium, we offer the peace of mind that our products are certain to help our operators achieve success. At high volume betting events, our platform has worked perfectly, with no downtime whatsoever. OpenBet processed a record number of bets on the recent Super Bowl LVI, driven by the company’s wide-ranging American football offerings through same-game parlay product BetBuilder, featuring over 1,400 different types of market selections. Huge volumes of bets were also processed at this year’s Cheltenham and Grand National events, clearly demonstrating that the scalability of our technology is unmatched. No other third-party provider can match the levels of transactions that our platform can withstand. With some of the industry’s greatest innovators, such as SportCast, part of our offering allows us to effectively deliver solutions to our customers – offering differentiated sports content is one of the best ways to set oneself apart, and we have some phenomenal innovations in the pipeline.
EGR Intel: The merging of sports betting and entertainment is pertinent in the industry right now – how does OpenBet’s approach cater to this?
JL: We are now presented with ever-increasing opportunities to deliver what we do best – sports betting technology that, first and foremost, benefits the end user – but in a way that allows us to create media partners that extend the Endeavor reach and create next-level experiences for players. The convergence of sports betting and entertainment is a natural development, part of a wider trend, and OpenBet, upon completion of the transaction with Endeavor, will be at the forefront of that. A good example of this is in the efficacy of BetBuilder: we provide a personalised experience, allowing fans to build their own bets. This space has a lot more to offer, though, and we continue to explore new technologies that will shape the next generation of the bettor journey.
EGR Intel: How do you see the North American sports betting market developing over the next few months? What is the major focus for OpenBet in this region?
JL: We continue to invest in the US, and our degree of focus there is high (recent multiple state launches and commercial agreements have reaffirmed OpenBet’s leading position in US markets). We are also seeing significant progress made in Canada; it’s been incredible to see the levels of growth our range of products have experienced. Further afield, we are making headway in the Caribbean and Mexico, and Latin American markets are showing serious promise. This is a big frontier for us, especially considering the Brazilian market, which is very close to regulating. Opportunities abound and OpenBet is well positioned to capitalise on their potential.
EGR Intel: Do these recent award wins open the door for further expansion plans?
JL: The award wins are the greatest testament to the way we approach the provision of responsible and exciting sports betting entertainment, and we are constantly assessing opportunities to expand our efforts globally. Geographic expansion for our markets is key, so you will be seeing us expanding into Eastern Europe soon as well as following up on a number of exciting opportunities in Latin America, APAC and Africa. Of course, none of this would be possible without the hard work and dedication of our team of All Stars – the diversity of background and thought on display at OpenBet is head and shoulders above anything seen elsewhere in the industry.
EGR Intel: Going forward, how will OpenBet’s approach to platform provision continue to break new ground?
JL: Becoming a part of the Endeavor family is going to take things to the next level in terms of consumer interaction and engagement – we are going to be able to leverage their prowess to deliver betting experiences as part of something much bigger. Our platform has really gone from strength to strength – the flexibility of our solutions is second to none. Already a leading solution for same-game parlay solutions on a pre-match basis, we are in the process of expanding that to an in-game proposition. The demand for that solution is huge worldwide, and the plans for it going forward are extraordinary. Watch this space.