DraftKings adds to in-play betting capabilities with the acquisition of Simplebet

DraftKings Inc. (NASDAQ:DKNG) announced that it has entered into an agreement to acquire Simplebet Inc. for an undisclosed amount. New York-based Simplebet is described as a leading sports betting provider of in-play micromarket content and pricing. Founded in 2018, Simplebet is a B2B provider of micromarket pricing for the NFL, MLB, NBA, NCAA football, NCAA basketball, and the NHL. The platform has attracted attention by recording millions of wagers and partnerships with major sportsbooks and positioning itself as a significant player in the evolving landscape of in-play betting.

The proposed DraftKings-Simplebet transaction is subject to the receipt of required gaming regulatory approvals and other customary closing conditions.

The deal is seen allowing for the integration of Simplebet’s proprietary machine-learning models into DraftKings’ (DKNG) best-in-class pricing and technology platform to create “highly accurate betting opportunities” during every moment of a game. The acquisition is also seen helping to improve the quality, breadth and speed of data throughout the DraftKings trading lifecycle.

“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,” stated Corey Gottlieb, DraftKings Chief Product Officer.