announced the acquisition of a company to help boost its in-play markets and machine-learning models to create new opportunities for users.
DraftKings yesterday announced the acquisition of Simplebet, a leading sports betting provider of in-game microbetting content and pricing. The transaction has been approved by the board of directors of each DraftKings and Simplebet.
“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,” said Corey Gottlieb, DraftKings Chief Product Officer, in a release. “And while we continue to elevate our product offering in this space, we are also committed to building technology that supports our robust consumer protection standards.”
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No Acquisition Price Tag Revealed
The acquisition announcement did not include a price tag for Simplebet. It is subject to regulatory approvals and other closing conditions before being finalized.
The deal will allow DraftKings to integrate Simplebet s in-house technology and offer customers new exclusive props, same game parlays, and live bets.
“Joining forces with our long-term collaborators at DraftKings will further the Simplebet mission to make every sports moment matter,” said Chris Bevilacqua, Simplebet co-founder and CEO. “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.”
Simplebet To Provide DraftKings with New Tech
Simplebet is a B2B provider of microbetting pricing for the NFL, MLB, NBA, NCAAF, NCAAB, and the NHL. It uses in-house technology to price micromarkets and its proprietary models offer more in-play betting opportunities for users.
According to the DraftKings , the new deal will improve the quality, breadth and speed of data throughout the DraftKings trading lifecycle, and would unlock a faster and more frictionless experience for the company’s customers.
Simplebet and DraftKings both have proprietary machine learning libraries and platforms that will present an opportunity to step-change DraftKings’ machine learning operations, according to the company.
The company has developed a scalable, maintainable, and higher performing foundation for live-betting that is algorithm oriented.
