DraftKings Sportsbook Could Acquire Micro-betting Provider Simplebet

While sports betting operators see parlays in their handle percentages, the top providers are shifting their focus toward micro-betting. It’s a derivative of in-game/live betting. Micro-betting is technology-centric and AI software is faster than their in-house tech. Not too long ago, one of the top industry leaders DraftKings, acquired JackPocket. They are not stopping there. According to the gambling newsletter Earnings + Money, DraftKings could acquire micro-betting provider Simplebet. 

Earnings + Money reported that the two sides are close to a deal. However, they cited multiple unnamed sources. Additionally, a DraftKings spokesperson refused to comment on Thursday. Simplebet will bring cutting-edge technologies like AI to help deliver rapid betting outcomes on individual plays. The acquisition of Simplebet has the chance to give DraftKings an advantage in the competitive market.

What can Simplebet do for a provider like DraftKings who’s already an industry leader?

To start, Simplebet is a business-to-business micro-betting provider. Across sportsbooks in the industry, AI-powered solutions continue to be the answer. Simplebet could be a natural fit for DraftKings. Their former CFO Jason Park will mainly focus on DraftKings’ AI initiatives. He is now the chief transformational officer. Recently, Simplebet started working with the MLB and they’re off to a hot start. In mid-May, they reported that $7+ million in wagers had been accepted since the start of April. During that time, their handle jumped 120% year-over-year, increasing unique users. Simplebet CEO Chris Bevilacqua had this to say.

“We are delighted to see triple-digit growth in our baseball product across the first full month and a half of the season compared to last year, as the betting public continues to engage with the excitement generated via micro-betting,” - Chris Bevilacqua

Other providers in the industry like Bet365, ESPN Bet, FanDuel, and Hard Rock Sportsbook use Simplebet. Certain sportsbooks can offer totals on the speed of the next pitch in an MLB game using Simplebet’s micro-betting services. Taking the sports-betting scene to an entirely new level. Along with the AI software, Simplebet also uses machine-learning tools from at least 800,000 historical at-bats. In October 2023, Simplebet won Online Betting Product of the Year at the American Gambling Awards.

On top of that, they were nominated for top betting products in three prominent industry events. Proving just how powerful micro-betting can be. DraftKings wants in and will take any advantage over the other top industry providers.