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DraftKings Announces Agreement Industry

DraftKings Announces Agreement with Micro-Betting Company Simplebet

By Amelia Walker Senior Content Writer Updated: 25 August 2021

Amelia Walker Senior Content Writer

Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.

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It has been announced that sports betting giants DraftKings have forged a multi-year agreement with Simplebet. The former will be bringing micro-betting to the DraftKings platform, giving gamblers at DraftKings even more opportunities to bet on live sporting events.

DraftKings have made no secret of their desire to move ahead with more live betting, noting that betting in some other countries, such as the United Kingdom, is dominated by live betting. In fact, some sportsbooks in the UK report that they make up to 75 percent of their revenue from live betting.

In contrast, the US live betting market is not yet a mature one. This means that much of the betting that takes place in the US is standard, pre-game betting. In Nevada, one of the major hubs of betting in the country, it is estimated that live betting only currently accounts for around 20% of sports betting handle.

Micro-Betting on NFL, NBA, MLB and College Sports

Thanks to this agreement, DraftKings will now be able to enhance its live betting facilities. The agreement allows Simplebet to provide micro-betting for the NBA, NFL and MLB, as well as for college football. The micro-betting products for college betting are the first in the country. Speaking about the agreement, Chris Bevilacqua, the co-founder and CEO of Simplebet, stated:

We’re thrilled to be launching our real-money micro-betting products with DraftKings. These types of offerings represent the next evolution of sports betting and deliver enhanced opportunities for operators and fans alike. We look forward to the successful roll-out and to showcasing the excitement that comes with micro-betting.

As yet, there are no details as to when the two companies hope to start offering micro-betting to DraftKings users. Also, no details have been released about the financial aspects of the deal.

Micro-Betting to Enhance live Betting

Live betting is already offered by DraftKings, as well as many other sportsbooks. However, micro-betting will enhance the experience considerably, allowing gamblers to bet on minute aspects of each game.

For example, micro-betting will make it possible to specifically bet on the next play in football, or on the very next ball in an MLB encounter. Currently, it is only possible to bet on broader occurrences, such as the total number of points scored in a football game. This detail will give betting fans more choice than ever when it comes to betting on games.

Considerable Capital Raised by Simplebet

Simplebet was founded in 2018 by Chris Bevilacqua, Scott Marshall and Joey Levy, and is considered the pioneer of micro-betting. The company has already raised approximately $60 million in funding, with $15 million of this coming in its most recent round of fundraising.

This recently raised money will go towards enhancing the company’s products, allowing them to provide an even better experience to those looking to bet on NFL, NBA, MLB and college football. To do this, they will add more micro-markets, as well as expand “engineering resources to enable more efficient customer integrations,” according to a statement from the company.