US sports betting giant DraftKings is entering into an agreement with Simplebet that will see the company’s micro-betting products implemented on its platform. It’s a deal that will greatly enhance DraftKings’ live betting capabilities to the level of individual pitches and other fleeting moments in the sporting world. It’s also a deal that raises the profile of Simplebet tremendously as it transitions from startup to institution.
Under the terms of the deal, Simplebet micro-betting technology will be applied immediately to DraftKing’s NFL, NBA, MLB and college football products. DraftKing’s is pitching the Simplebet integration as an opportunity to “…engage even further with the sports they love by wagering, among other things, play-by-play, throw-by-throw and pitch-by-pitch throughout a sporting event.” In non-marketing speak, that means that DraftKings customers will have more opportunities to engage in live-betting, which most observers think is a big part of the long-term future of sports betting in America.
Chris Bevilacqua, Co-Founder and CEO of Simplebet hyped the advantages of DraftKings using his product in a press release on the DraftKings website saying, “We’re thrilled to be launching our real-money micro-betting products with DraftKings. These types of offerings represent the next evolution of sports betting and deliver enhanced opportunities for operators and fans alike. We look forward to the successful roll-out and to showcasing the excitement that comes with micro-betting.”
Paul Liberman, President, Global Product and Technology at DraftKings also hyped the live betting upgrade saying, “We’re excited to be working with Simplebet to change the in-game betting experience for our customers and, together, changing the way sports fans engage with their favorite sports.”
Simplebet also completed a $15 million round of financing, bringing the total investment in their startup to $50 million.