The gaming giant gains access to industry-leading technology, which should allow it to better adapt to emerging trends as bettors seek new experiences
Digital sports entertainment and gaming giant DraftKings, Inc. will significantly enhance its micro-betting capabilities by acquiring micro-market pricing and sports betting content company Simplebet. This strategic transaction will mark a significant evolution in DraftKings’ in-game wagering capabilities as it leverages Simplebet’s advances with machine learning algorithms.
Live Betting Is the New Hot Thing in Sports Wagering
Simplebet’s technology enables micro-market betting, allowing bettors to wager on outcomes during every moment of a sporting event, like the next pitch in baseball or the result of the next play in football. In addition to driving more engagement, this provides front-end users with a more dynamic range of betting options.
The deal marks the end of a long-term partnership between DraftKings and Simplebet. Chris Bevilacqua, Simplebet co-founder and CEO, was optimistic regarding this new development. He noted that partnering with a leading operator like DraftKings would open up many new opportunities, giving players new ways to support their favorite teams.
This transformative acquisition, upon completion, will marry our best-in-class AI and machine learning technology with the DraftKings product offering.
Chris Bevilacqua, Simplebet co-founder and CEO
The acquisition is consistent with DraftKings’ broader objective of increasing its online gaming portfolio. The operator faces rising competition in the sports betting space, particularly in the US, where it trades blows with Flutter-owned FanDuel. Simplebet’s innovative technology could be just what DraftKings needs to stand out against its competitors.
DraftKings Aims to Keep Its Products Fresh and Exciting
The Simplebet acquisition has already received the green light from the boards of both companies and must now undergo the necessary regulatory approvals and other standard closing conditions. When the acquisition concludes, it will fully integrate Simplebet’s proprietary ML models into DraftKings’ pricing and technology platform, propelling it to new heights.
Successful integration should create highly accurate real-time betting opportunities, enhancing data quality, quantity, and speed across DraftKings offerings. Corey Gottlieb, DraftKings chief product officer, noted that micro-betting was one of the most promising technologies in the sports betting market. He added that Simplebet’s expertise would allow the operator to remain ahead of industry trends and help keep customers engaged.
Live betting represents an area for potential growth for online sports betting, (creating) an in-play wagering experience that moves at the speed of sports.
Corey Gottlieb, DraftKings chief product officer
By acquiring Simplebet, DraftKings positioned itself to further excel in the rapidly changing sports wagering market. Integrating advanced machine learning technology into its platform will likely set a new standard for in-play betting, offering a more immersive and responsive user experience. This move, if successful, will likely prompt competing operators to adopt similar technologies.
