DraftKings to Acquire Simplebet to Enhance In-Play Betting Capabilities
The acquisition, approved by the Boards of both companies, is still subject to regulatory approval and other customary closing conditions.
DraftKings has announced a deal to acquire Simplebet, a leading provider of in-play micro market betting content and pricing.
The acquisition, approved by the Boards of both companies, is still subject to regulatory approval and other customary closing conditions.
This deal will integrate Simplebet’s machine-learning models into DraftKings' existing platform, a move expected to enhance the speed and accuracy of in-play betting opportunities. The integration aims to offer more precise and dynamic wagering during live sports events.
Through this acquisition, DraftKings seeks to elevate the quality and efficiency of its betting offerings.
Corey Gottlieb, DraftKings CPO, stated:
“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.”
Founded in 2018, Simplebet specializes in developing technology for micro market pricing in sports such as NFL, MLB, NBA, and NHL. The company utilizes machine learning and automation to create more opportunities for bettors to wager on specific in-game moments, like the next pitch or the next point.
