Better Collective Goes All-In on AI-Based Safer Gambling

Better Collective, a sport betting media group, announced that as of January 1st, 2021 it has increased its position in artificial intelligence-based safer gambling company, Mindway AI, to a controlling interest of 90%.

CEO of Better Collective, Jesper Søgaard, said:

“Responsible gambling remains a strategic focus area for Better Collective where we continue to increase our efforts. We see Mindway AI’s technologies and software solutions as best-in-class and foresee the business will play an increasingly important role in the iGaming ecosystem, as responsible gambling continues to be at the very top of the industry agenda and in society as a whole.”

This brings Better Collective’s total investment in Mindway AI up to an impressive DKK 21 million (€2.82 million). The company initially invested 4 million DKK when it purchased 20% of Mindway AI in 2019, and clearly liked that they saw as they invested a further 17 million DKK to acquire an additional 70% stake in the safer gambling business.

 A Perfect Match

The decision to acquire such a strong stake in a safer gambling company that utilises cutting edge artificial intelligence and neuroscience to help assess and intervene in problem gambling is a no brainer given their mission to make “sports betting and gambling entertaining, transparent and fair”.

Jesper Søgaard added:

“It has been impressive to follow the strong development of the company over the last year since our initial investment and I am excited to further build on the promising collaboration we have established and to find new areas where our core competencies can be crossed and utilized for the benefit of the partners and players.”

Better Collective’s entire focus is that of creating guides and information packets that assist bettors in making intelligent and informed betting decisions. These include guides on betting, access to successful tipsters for advice, bookmaker payout analysis and more.

They are also co-founders of RAIG (Responsible Affiliates in Gambling) aimed at working with gambling marketers to ensure transparency and honesty in how gambling sites and bonuses are promoted.

What is in the Box?

While the investment in Mindway AI will give them a controlling interest Better Collective is not looking to interfere with a formula that is clearly working.

Kim Mouridsen, Mindway AI founder and Professor at Aarhus University, said:

“With this investment, we now form closer ties to an organisation that has the industry network and muscles to further accelerate the development of our business. I look forward to continuing the strong growth journey Mindway AI has been on and to further expand our footprint globally.”

Mouridsen has retained a 10% stake in the company, his seat on the Board of Directors and will continue to fulfil the role of Chief Scientific Officer. There will also not be a change of Chief Executive Office as Rasmus Kjærgaard will stay on in his current role to continue the company’s business growth.

The award-winning company currently offers three strong safer gambling software products - GameScanner, Gamalyze and GameChanger – and will continue to work with recognisable operators such as Entain and Flutter to formulate their responsible gambling initiatives.

Only time will tell what value the relationships and market expertise of Better Collective bring to the table in terms of growing Mindway AI’s online and on-the-ground presence, and what impact this will have on safer gambling around the world.