Better Collective (Nasdaq Stockholm: BETCO) increased its ownership in Mindway AI, a company that specializes in software solutions for identifying, preventing and intervening in at-risk and problem gambling, to 90% of the shares.
As of January 1st 2021, Better Collective has exercised its option to acquire a further 70% of the shares in Mindway AI for a total price of 17m DKK (approx. USD2.77m).
The investment further backs Better Collective in making betting more safe. Mindway AI develops software solutions for automatic monitoring and profiling of gamblers and for identifying, preventing and intervening in at-risk and problem gambling. Based on neuroscience and artificial intelligence, the company works with gambling operators, platform providers, regulators and governments to supply early detection and intervention solutions for safer and sustainable gambling.
Its AI’s software solutions, GameScanner, Gamalyze and GameChanger, empower betting and casino operators including new sites in 2021 on a global scale such as Entain (formerly GVC Holdings), Flutter Group and Holland Casino and new sto create safer customer journeys and to become proactive if players show signs of having problems.
In details:
- GameScanner analyzes every single gambling event of every single customer by having the virtual expert take a close look at every aspect of gambling behavior.
- Gamalyze is a self-test that analyzes decision making during gambling, providing deep insight into gambling behavior and problem gambling characteristics.
- GameChanger is a training tool that helps at-risk and problem gamblers take back control over their gambling by training to control their impulsivity.
Mindway AI will continue to operate as a stand-alone company within the Better Collective Group.
The acquisition follows a preliminary investment made in 2019 where Better Collective acquired 19.99% of the company for 4m DKK.
With this new deal, the reimaining 10% in Mindway AI is held by Kim Mouridsen, Founder of Mindway AI and Professor at Aarhus University. Rasmus Kjærgaard, the CEO of Mindway AI, who joined Mindway AI in December 2019 from Danish IT company Signaturgruppen A/S, and has been instrumental in commercializing the business during its growth phase over the last 12 months, continues in his current position. In addition, Professor Kim Mouridsen stays on board in the role as Chief Scientific Officer and member of the board of the company.
Led by Jesper Søgaard, CEO, Better Collective is a Copenhagen, Denmark-based global sports betting media group that develops digital platforms for betting tips, bookmaker information and iGaming communities. Its portfolio of platforms and products include bettingexpert.com, HLTV.org, VegasInsider.com, among others.