Better Collective has advanced its responsible gambling efforts by investing in Mindway AI, which specialises in software solutions for the identification of at-risk and problem gambling behaviour.
As a result of the four million Danish Krone (£470,898) acquisition of 19.99 per cent of total shares, it is said that the investment aligns the firm’s vision “to empower igamers and help establishing an entertaining and safe betting environment”.
Mindway AI will operate as a stand-alone business within the Better Collective group as the business and products are not directly related to the core business.
Furthermore, Better Collective will under certain performance-based conditions acquire the remaining shares at a price of 20 million Danish Krone (£2.35m).
Jesper Søgaard, CEO of Better Collective, said of the purchase: “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.
“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 solutions that can identify at-risk gambling and problem gambling behaviour among online bettors.
The company’s technology platform is based on neuroscience and artificial intelligence, with the firm working with betting operators, platform providers, regulators, and governments to supply early detection and intervention solutions 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.”