DraftKings to Acquire Simplebet to Enhance In-Play Betting Capabilities

29.08.2024

DraftKings has agreed to acquire Simplebet a leading provider of in-play micromarket content and pricing. This acquisition aims to strengthen DraftKings’ live betting offerings by integrating Simplebet’s machine-learning technology into its platform.

Strategic Integration to Enhance Live Betting

The acquisition, pending regulatory approvals and other customary closing conditions seeks to enhance DraftKings’ in-play betting capabilities.

By incorporating Simplebet’s proprietary machine-learning models, DraftKings plans to offer more accurate and rapid betting opportunities during live sports events, improving the overall customer experience.

Corey Gottlieb, DraftKings’ Chief Product Officer, emphasized the potential growth in live betting, stating, “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.”

Simplebet’s Expertise in Micromarkets

Founded in 2018, Simplebet specializes in providing micromarket pricing for major sports leagues, including the NFL, MLB, NBA, and NHL.

The company’s technology uses machine learning to price in-play moments, offering bettors more opportunities to engage with live games. S

implebet’s scalable and algorithm-driven platform has been a game-changer in live betting, and its integration with DraftKings is expected to further enhance the speed and accuracy of in-play wagers.

Chris Bevilacqua, Simplebet’s co-founder and CEO, expressed enthusiasm about the merger, stating, “Joining forces with our long-term collaborators at DraftKings will further the Simplebet mission to make every sports moment matter.” He highlighted that the acquisition would combine Simplebet’s AI and machine learning capabilities with DraftKings’ existing offerings, setting the stage for a new era in real-time, in-play sports betting.