In a move signaling the deepening allure of real-time sports wagering, DraftKings, the renowned digital sports entertainment and gaming company, is reportedly on the brink of closing a pivotal deal to acquire Simplebet, the innovative firm that’s driving the micro-betting revolution. Sources close to the negotiations whisper of a deal valuing the micro-betting maestro at an estimated $120 million to $170 million, catching the attention of industry onlookers and sports enthusiasts alike.
The artistry of Simplebet’s tech has not gone unnoticed, as it had previously caught the eye of DraftKings in 2021. They penned a partnership that saw Simplebet lace DraftKings Sportsbook with its leading-edge micro-betting services, planting the seeds of an alliance that could now blossom into full corporate union. DraftKings, the rumor mill contends, is now Simplebet’s greatest admirer, and largest client.
Micro-betting, for the uninitiated, is the intricate ballet of wagering within a game’s live ecosystem, a granular and invigorating kind of betting that allows punters to place bets on the minutiae of sporting events – will the next pitch be a ball or a strike, or will a basketball player sink the upcoming free throw? This is the domain where Simplebet has choreographed its finest performance, compelling gaming operators to lean in and stake their claims.
The whisper of Simplebet’s $170 million tag, a figure dancing below its lofty $210 million valuations post a lucrative Series C infusion in 2021, does little to dim the allure of its offerings to a giant like DraftKings.
This news pirouettes on the heels of DraftKings’ recent acquisition spree, including a stealthy move on Sports IQ Analytics, whose arsenal of analytical wizardry for sportsbook operators comes with its own untold price, rumored to shimmer between $50 million to $70 million. Counting coins, DraftKings appears to be orchestrating an opus of nearly $1 billion in strategic buys since the year began, punctuated by the hefty $750 million spent to absorb Jackpocket, the internet lottery virtuoso.
The stage is set as DraftKings and its ilk cast their nets over specialized odds providers, a trend echoed by competitors such as the purchase of Banach Technology by PointsBet (now under the Fanatics banner) and the acquisition of Angstrom Sports by the mammoth house of Entain Plc, which holds the reins to BetMGM.
Simplebet, amidst these developments, emerges as an irresistible gem. Its technology allows the sportsbook clientele the luxury of betting on those pulsing moments within games, weaving an immediate fabric of risk and reward that gamblers increasingly crave. The techno-marvel that is micro-betting often makes more fiscal sense for firms to acquire, rather than forge in their own fires.
Simplebet boasts an impressive roster of clients, among them industry stalwarts like Bet365, ESPN Bet, FanDuel, and Hard Rock Sportsbook, a testament to its allure and sophistication in the competitive arena of sports betting technology. The stage seems set for DraftKings to bring Simplebet into its fold, adding yet another chapter to the evolving narrative of modern sportsbook entertainment.
