DraftKings To Snap Up Leading Microbetting Company

DraftKings has announced its acquisition of Simplebet, a leading microbetting technology company for an un-disclosed amount.

Microbetting, a rapidly growing segment of in-play betting, has been capturing the attention of the sports betting community in recent years. This innovative approach allows bettors to wager on individual events within a game, such as the outcome of a single play or the speed of a pitch. According to industry experts, the microbetting market is poised for exponential growth, with estimates suggesting it could reach a staggering $20 billion in handle by 2027.

Simplebet, founded in 2018, has quickly established itself as a leader in the microbetting space. The New York-based company has built a large clientele, including industry giants like DraftKings, bet365, and Caesars. Simplebet’s proprietary AI and machine learning-powered technology has enabled it to deliver cutting-edge live betting solutions.

While the acquisition is focused on enhancing the customer experience, DraftKings has also emphasized its commitment to building technology that supports its consumer protection standards.

Simplebet’s microbetting offerings underscores the huge potential of this segment, during the 2023-24 NBA season, Simplebet reported a $325 million in wagered handle, with close to 13 million bets placed. The NFL regular season also saw a 60% increase in both the total number of bets placed and the total betting handle in Simplebet’s microbetting markets.