The US sports betting and daily fantasy sports provider DraftKings revealed a multi-year deal with Simplebet. Under the provisions of the agreement, a real-money micro-betting service is set to be rolled out on its sportsbook platforms.
As explained by the President of DraftKings’ Global Product and Technology, Paul Liberman, the company has joined forces with Simplebet in order to change the in-game betting experience for its customers. The partnership is also aimed at changing the engagement of sports fans with their favorite sports. Mr. Liberman has also revealed that customers would be now able to use the DraftKings Sportsbook and get a unique betting experience thanks to the two companies’ shared commitment to innovative technology provision.
As revealed in a statement, the US daily fantasy sports and sports betting operator and Simplebet reached an agreement regarding the aforementioned micro-betting technology’s integration into the Sportsbook product of DraftKings. The move would offer sports bettors and sports fans an opportunity to become more engaged with their favorite sport by placing play-by-play, pitch-by-pitch, and throw-by-throw bets during a sporting event.
The long-term partnership will result in the introduction of the micro-betting products that Simplebet rolled out in the US for matches from the National Basketball Association (NBA), National Football League (NFL) and Major League Baseball (MLB). Under the provisions of the agreement, a recently developed product for college football is also to be presented.
Micro-Betting Market Expected to Grow Even Further in the Years to Come
Simplebet’s CEO Chris Bevilacqua has confirmed the agreement, saying that the company’s team was extremely happy to be launching its real-money micro-betting products in collaboration with DraftKings. He further noted that the new types of products mirror the evolution of sports betting and provide both sports fans and betting companies with various opportunities.
Gambling technology company Simplebet was established in 2018 and since then has been pioneering so-called micro-betting across the US. The operator recently finalized a $15-million financing round aimed at boosting its total funding to $50 million. The move also came as part of the company’s efforts to ensure the further development of its already existing products across the NBA, NFL and MLB.
Simplebet revealed plans to roll out multiple derivative micro-market products, invest in the expansion of its engineering resources aimed at making the customer integrations for its proprietary technology platform better, introduce new micro-markets subcategories and consider new strategic options.
According to reports, the so-called micro-betting market is expected to generate further growth in the future. This has been another reason why DraftKings has decided to add some new micro-betting options to its Sportsbook and expand its product. Earlier in August, the sports betting and daily fantasy sports provider revealed plans to expand its customer base by the takeover of Golden Nugget Online Gaming (GNOG). The two parties signed a definitive agreement regarding an all-stock acquisition estimated at $1.56 billion.