Sep 12, 2015; Dallas, TX, USA; A general view of the DraftKings sign board during the match with FC Dallas playing against New York City FC at Toyota Stadium. Mandatory Credit: Matthew Emmons-USA TODAY Sports
- DraftKings announced the acquisition of Simplebet
- Simplebet is an in-play microbetting operator
- No acquisition total was announced
DraftKings announced the acquisition of a company to help boost its in-play markets and machine-learning models to create new opportunities for users.
DraftKings yesterday announced the acquisition of Simplebet, a leading sports betting provider of in-game microbetting content and pricing. The transaction has been approved by the board of directors of each DraftKings and Simplebet.
“Live betting represents an area for potential growth for online sports betting, and the proposed acquisition would allow DraftKings to leverage Simplebet’s proprietary technology to create an in-play wagering experience that moves at the speed of sports,” said Corey Gottlieb, DraftKings Chief Product Officer, in a release. “And while we continue to elevate our product offering in this space, we are also committed to building technology that supports our robust consumer protection standards.”
No Acquisition Price Tag Revealed
The acquisition announcement did not include a price tag for Simplebet. It is subject to regulatory approvals and other closing conditions before being finalized.
The deal will allow DraftKings to integrate Simplebet’s in-house technology and offer customers new exclusive props, same game parlays, and live bets.
“Joining forces with our long-term collaborators at DraftKings will further the Simplebet mission to make every sports moment matter,” said Chris Bevilacqua, Simplebet co-founder and CEO. “This transformative acquisition, upon completion, will marry our best-in-class AI and machine learning technology with the DraftKings product offering, enhancing the customer experience for a new era of real-time, in-play gaming.”
Simplebet To Provide DraftKings with New Tech
Simplebet is a B2B provider of microbetting pricing for the NFL, MLB, NBA, NCAAF, NCAAB, and the NHL. It uses in-house technology to price micromarkets and its proprietary models offer more in-play betting opportunities for users.
According to the DraftKings’ announcement, the new deal will “improve the quality, breadth and speed of data throughout the DraftKings trading lifecycle, and would unlock a faster and more frictionless experience for the company’s customers.”
Simplebet and DraftKings both have proprietary machine learning libraries and platforms that will present an opportunity to step-change DraftKings’ machine learning operations, according to the company.
The company has developed a scalable, maintainable, and higher performing foundation for live-betting that is algorithm oriented.
Rob covers all regulatory developments in online gambling. He specializes in US sports betting news along with casino regulation news as one of the most trusted sources in the country.
DraftKings, one of the leading sports betting and daily fantasy sports companies, recently announced its acquisition of Simplebet, a microbetting operator. This move marks DraftKings’ continued expansion into the rapidly growing world of sports betting and further solidifies its position as a key player in the industry.
Microbetting, also known as in-play or live betting, allows bettors to place wagers on specific events or outcomes within a game in real-time. This type of betting has become increasingly popular among sports fans looking to add an extra level of excitement to their viewing experience. Simplebet’s technology enables this type of betting by providing real-time odds and outcomes for various micro-events within a game, such as the outcome of a specific play or the next point scored.
By acquiring Simplebet, DraftKings is positioning itself to offer a more dynamic and engaging betting experience to its customers. The integration of Simplebet’s technology into DraftKings’ platform will allow bettors to place more granular and specific bets during games, enhancing the overall user experience and potentially attracting new customers to the platform.
This acquisition also highlights the growing trend of consolidation within the sports betting industry as companies look to expand their offerings and gain a competitive edge. With the legalization of sports betting in an increasing number of states across the US, companies like DraftKings are looking to differentiate themselves and capture a larger share of the market.
Overall, DraftKings’ acquisition of Simplebet is a strategic move that positions the company for continued growth and success in the rapidly evolving world of sports betting. As microbetting continues to gain popularity among sports fans, DraftKings is well-positioned to capitalize on this trend and provide its customers with an even more immersive and exciting betting experience.
