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Paddy Power Betfair unveils responsible gambling initiative

| By iGB Editorial Team
Operator aims to “solve real business challenges” through Romania startup programme

Paddy Power Betfair has pledged to “solve real business challenges” through the launch of a new responsible gambling initiative in Romania.

Developed in partnership with Cluj-based trade event Techsylvania and investment fund Risky Business, ‘Alpha Hub’ is a startup accelerator programme with innovators invited to focus on the challenges of responsible gambling.

This will include support during the development of prototype products with the use of technologies such as customer matching, identity verification, data and analytics, online travel, self-service and retail tools.

Those that sign up to the scheme will be able to access expertise, partnerships and corporate clients to help strengthen their offering.

Rob Smith, head of Alpha Hub at Paddy Power Betfair, said: “The Responsible Gambling Concept is one of our key priorities at Paddy Power Betfair, and this initiative will help us find new ways to identify and protect customers at risk.

“Alpha Hub is an excellent opportunity for Paddy Power Betfair to get closer to the tech startup ecosystem, and we’re looking to partner with start-ups that can help us solve real business challenges.”

Paddy Power Betfair, which has a team of more than 600 working in its Romania office, plans to launch the initiative on November 20 and follow this up with a two-week period of mentoring and support. Those taking part will present their finished solution at a dedicated event on December 4.

Start-ups deemed the most successful in the programme will be eligible for funding to further develop their product, as well as have the opportunity to present their pitch to Paddy Power Betfair.

Vlad Ciurcă, co-founder and executive manager of Techsylvania, said: “Accessing and knowledge of corporate clients is a decisive challenge for newly-created companies in Romania.

“A successful startup ecosystem requires the involvement of top tech companies, so we are very happy that Paddy Power Betfair chose Cluj from all its global locations to launch Alpha Hub.”

The move comes as Paddy Power Betfair was this week handed a fine of £2.2m (€2.5m/$2.9m) for social responsibility and money laundering failures in the UK. The UK Gambling Commission found the firm was failing to protect customers and stop stolen money being gambled.

The fine represents the fourth penalty package of more than £1m imposed by the GC this year, following rulings against William Hill, 32Red and Sky Bet.

Image: Best Picko

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