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DraftKings has announced its plan to acquire Simplebet, a leading provider of in-play micromarket content and pricing. This move, subject to regulatory approvals and other standard closing conditions, represents a strategic expansion for DraftKings into the rapidly growing sector of live betting.
DraftKings aims to leverage Simplebet’s advanced technology to enhance its in-play wagering offerings. Simplebet, founded in 2018, specializes in micromarket pricing for major sports leagues, including the NFL, MLB, NBA, NCAAF, NCAAB, and NHL. Their platform, built on scalable and high-performance algorithms, is designed to provide real-time betting opportunities.
DraftKings CPO Corey Gottlieb emphasized the strategic importance of this acquisition. “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,” he said. Gottlieb also highlighted DraftKings’ commitment to integrating consumer protection standards alongside technological advancements.
The merger will integrate Simplebet’s machine-learning models with DraftKings’ existing technology and pricing infrastructure. This integration aims to refine the accuracy and speed of betting opportunities, ensuring a smoother and more dynamic betting experience for users. “Joining forces with our long-term collaborators at DraftKings will further the Simplebet mission to make every sports moment matter,” noted Simplebet Co-Founder and CEO Chris Bevilacqua. He added, “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.”
The acquisition also builds on the existing partnership between DraftKings and Simplebet, which began in 2021. This partnership has already enabled DraftKings to offer real-money micro-betting on NFL, MLB, and NBA games, as well as various college football events.
Details regarding the financial aspects of the acquisition have not been disclosed. However, this strategic move is expected to significantly enhance DraftKings’ live betting platform, promising more engaging and accurate in-play betting options for its customers.