Simplebet

Simplebet is a B2B (business-to-business) technology company that specializes in providing micro-betting solutions for sports events. Their cutting-edge technology uses machine learning and artificial intelligence to generate real-time betting opportunities throughout sporting contests, enabling bettors to wager on specific events like the outcome of the next pitch in baseball or the result of an NFL drive.

Simplebet's automated software solution allows sportsbook partners to offer derivative bets on granular events such as whether a batter will swing on a 3-0 count or if the next completion in the Super Bowl will exceed 20 yards. The company employs complex algorithmic models built on historical data from major sports leagues to determine probabilities and generate odds dynamically.

Simplebet's business model revolves around automation, eliminating the need for human traders by leveraging machine learning to identify trends, calculate probabilities, and price outcomes. This approach ensures minimal suspension times for in-play betting markets, providing a seamless user experience for bettors.

In addition to real-money betting products, Simplebet has also developed free-to-play contests and partnerships with media companies to drive fan engagement and viewership. Their technology has seen significant growth, with the MLB micro-betting handle increasing three-and-a-half times year-over-year in 2023 and NBA micro-betting handle growing eightfold compared to the previous year.

Key customers and partnerships

Simplebet's micro-betting technology has been integrated by several leading sportsbook operators, including DraftKings, Caesars Sportsbook, bet365, and Hard Rock Bet Sportsbook. The company has also formed partnerships with LIV Golf, Underdog, theScore, ClutchBet, and ESPN Bet to enhance fan experiences and engagement.

During the 2023 NFL playoffs, Simplebet recorded nearly USD 70 million in total betting handle across the first three rounds, marking a significant milestone for the company. Popular micro-betting markets included Same Drive Parlays, which allowed bettors to create prop bets on various events within a single drive.