DraftKings Elevates Micro-Betting with Simplebet Acquisition

In a significant move to enhance its capabilities in the fast-growing sports betting industry, DraftKings, Inc., a leader in digital sports entertainment and gaming, has announced the acquisition of Simplebet, a company known for its expertise in micro-market pricing and sports betting content. This acquisition is poised to elevate DraftKings’ in-game wagering offerings, leveraging Simplebet’s advancements in machine learning algorithms.

The Rise of Live Betting in Sports Wagering

Micro-market betting, powered by Simplebet’s technology, allows bettors to place wagers on various outcomes throughout every moment of a sporting event. For instance, in baseball, users can bet on the outcome of the next pitch, while in football, they can wager on the result of the next play. This innovative approach not only increases user engagement but also expands the range of betting options available, making the betting experience more dynamic and exciting.

The partnership between DraftKings and Simplebet had been in place for a while, and this deal marks the culmination of that long-term collaboration. Chris Bevilacqua, co-founder and CEO of Simplebet, expressed optimism about the new chapter, highlighting that partnering with a top-tier operator like DraftKings would unlock numerous opportunities. He emphasized that this acquisition would offer players fresh ways to support their favorite teams.

This transformative acquisition will combine our industry-leading AI and machine learning technology with DraftKings’ product offerings

Chris Bevilacqua says that the acquisition is very significant and that it signals a new era for both companies.

Strategic Move Amidst Rising Competition

The acquisition aligns with DraftKings’ broader strategy to expand its online gaming portfolio, especially as competition in the sports betting space intensifies, particularly in the United States. Here, DraftKings faces stiff competition from FanDuel, which is owned by Flutter Entertainment. The innovative technology that Simplebet brings to the table could provide DraftKings with the edge it needs to distinguish itself from its rivals.

DraftKings’ Vision for an Exciting Future

Both companies’ boards have already approved the acquisition, but it still awaits necessary regulatory approvals and other standard closing conditions. Once completed, Simplebet’s proprietary machine learning models will be fully integrated into DraftKings’ pricing and technology platform. This integration is expected to enhance real-time betting accuracy, improve data quality, and increase the speed of offerings across the DraftKings platform.

Corey Gottlieb, DraftKings’ chief product officer, noted that micro-betting represents one of the most promising technologies in the sports betting market. He added that Simplebet’s expertise would help DraftKings stay ahead of industry trends and maintain customer engagement.

“Live betting is a growth area for online sports betting, offering an in-play wagering experience that keeps pace with the speed of sports,” said Corey Gottlieb, emphasizing the importance of this acquisition.

By acquiring Simplebet, DraftKings has strategically positioned itself to excel further in the rapidly evolving sports wagering market. The integration of advanced machine learning technology into its platform is expected to set a new standard for in-play betting, providing users with a more immersive and responsive experience. This move, if successful, is likely to prompt competing operators to adopt similar technologies in a bid to keep up.

About DraftKings

Founded in 2012 DraftKings offers a wide range of services, including online sports betting, daily fantasy sports contests, and iGaming products. DraftKings operates in several markets, primarily in the United States, where it has gained a strong following due to its user-friendly platforms and broad range of sports and gaming options.

In addition to its core offerings, DraftKings has made significant investments in technology to enhance its products and services. The company uses advanced algorithms and data analytics to provide real-time betting opportunities and personalized experiences for its users. DraftKings has also expanded its partnerships within the sports industry, aligning with major leagues and teams to solidify its position in the market. As a publicly traded company, DraftKings continues to explore new avenues for growth while navigating the competitive landscape of online sports betting and gaming.

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