Better Collective has developed its accountable gambling effort by investing in Mindway AI, which specialises in software alternatives to identify at-risk and problem gambling behaviour.
As a consequence of the four million Danish Krone (£ 470,898) purchase of 19.99% of the complete stocks, the purchase is said to align the company’s view of “to empower igamers and help establishing an entertaining and safe betting environment”
Mindway AI will function as a stand-alone company within the Better Collective Group, as the company and products are not immediately linked to the core business.
In addition, under certain performance-based conditions, Better Collective will acquire the remaining shares at a price of 20m Danish Krone (£ 2.35 m).
“We take our social responsibility very seriously and see this innovative technology as a perfect way to help protect online sports bettors, while at the same time engaging in a business where we foresee a sound future growth and profitability,” said Jesper Søgaard, CEO of Better Collective of the purchase.
“The great team at Mindway AI has impressed us with their deep and specialised knowledge in combining artificial intelligence with true neuroscience, into what we believe is the most promising product offering for the management of problem gambling, which currently is on the top of the agenda in our industry.”
Mindway AI specialises in software alternatives that can detect at-risk gambling and problem gambling behavior among internet gamblers.
The company’s technology platform is focused on neuroscience and artificial intelligence, and works with betting operators, platform suppliers, regulators and authorities to provide early identification and action alternatives for safer gambling.
Svend Aage Kirk, CEO of Mindway AI, added: “In Better Collective, we have found a strong partner that shares our core values and vision to create a transparent and safe online betting experience.
“Partnering with the leading sports betting affiliate in the world, we can scale our technology globally. We see this as a win-win opportunity where both parties can enhance the protection for online bettors, while also strengthening our position in the market.”