Better Collective backs Mindway AI to improve ‘early detection’ mechanisms

Jesper Søgaard – Better Collective

Moving to strengthen its multi-market compliance frameworks, Stockholm-listed Better Collective AS has acquired a 19.99% stake in Mindway AI.

An intelligence solution developed specifically for igaming/betting incumbents, Mindway utilises advanced metrics and machine learnings to identify customers at risk of problem gambling and further segmenting vulnerable audiences.

Updating investors, Better Collective governance confirms an investment of DKK 4 million (€540,000) in the Copenhagen-based enterprise, which seeks to become the lead ‘early detection’ compliance provisions provider for online gambling.

Jesper Søgaard, CEO of Better Collective, said: “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.”

Søgaard confirms that the investment in Mindway will have no effect on Better Collective 2019 expectations and that the technology enterprise will operate as a stand-alone business.

Mindway was founded in 2018 by Danish entrepreneur Svend Aage Kirk as a university spin-off by scientists from the Institute for clinical medicine at Aarhus University including, amongst others, Professor Kim Mouridsen who has been instrumental in designing the technological solutions.

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.”

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