DraftKings and Simplebet sign first sportsbook deal for micro-betting products

DraftKings has agreed to a multi-year deal with Simplebet to expand sportsbook in-game offerings, the company announced Tuesday. By having secured this partnership, the sports betting and gaming operator will launch micro-betting.

“Integration with Simplebet’s micro-betting technology will allow DraftKings customers to engage even further with the sports they love,” describes a press release. The deal allows the sports betting giant to offer wagering in new ways, including play-by-play, throw-by-throw and pitch-by-pitch throughout a sporting event.

“We’re excited to be working with Simplebet to change the in-game betting experience for our customers and, together, changing the way sports fans engage with their favorites sports,” said Paul Liberman, President, Global Product and Technology at DraftKings.

DraftKings will be able to offer Simplebet’s micro-betting products for the NFL, MLB and NBA and a new suite of college football, which are “the first micro-betting products available” for collegiate sports, allowing customers to wager on individual moments over the course of a game through the DraftKings Sportsbook.

On the importance of the deal, Chris Bevilacqua, Co-Founder and CEO of Simplebet, said: “We’re thrilled to be launching our real-money micro-betting products with DraftKings. These type of offerings represent the next evolution of sports betting and deliver enhanced opportunities for operators and fans alike.”

Earlier this year, Simplebet announced the completion of a $15 million financing round, which brings total funding to $50 million. Participating in the financing was Aristocrat alongside VC firm Florida Funders and Mario Gabelli’s GGCP Partnership Fund.

The recent funding is being used to enhance the company’s existing NFL, MLB and NBA products by adding new derivative micro-markets, launching new sports, introducing new subcategories of micro-markets, expanding engineering resources, and exploring further strategic opportunities.

Moreover, the company announced earlier this week the appointment of Jim Murren, former Chairman and CEO of MGM Resorts International, to its board of directors. Earlier this year, Pat Ramsey, Non-Executive Director at Aristocrat, was also announced as an appointee.

On the other hand, DraftKings has also been working in extending its offerings into new markets, some outside betting. Earlier this month, the company’s NFT Marketplace went live with exclusive debut content provided by Autograph.