Simplebet, an innovator in global sports betting technology, announced Wednesday its launch into the US sports betting space. Simplebet is a B2B product development company using machine learning and automation to enable every moment of every sporting event to become a betting opportunity.
Simplebet's proprietary use of machine learning and automation has created a new category of in-play betting called Micro-Markets, which are in-game betting markets that are created and resulted in just minutes or seconds, driving fan engagement and sports betting to a new level. Later this year, Simplebet will launch products for other professional leagues with partners who are established players within the sports betting and media industries.
"We're thrilled to share our innovative technology and products with the sports betting world," said Chris Bevilacqua. "In-play betting, and more specifically, Micro-Markets, which are bets tied to discrete moments in sporting events – are the way of the future. This new category of in-play betting following our heavy investment in the requisite automation and machine-learning technology sets Simplebet and our future partners up for success and growth."
In conjunction with the announcements of its first products, Simplebet has raised more than $35M to date, closing a series B round of $11M in March. Current investors include: MLB's San Francisco Giants Baseball Club, David Blitzer (Co-Owner & Co-Managing Partner, Philadelphia 76ers, New Jersey Devils & Crystal Palace FC), Jeff Mallett (Founding COO & President, Yahoo; Principal Partner, San Francisco Giants & Co-Owner/Executive Chairman, Vancouver Whitecaps FC), Steve Ellman (Former Owner/Chairman, Phoenix Coyotes), David Levy (Former, AT&T/Warner Media), Howard Schultz (Chairman Emeritus, Starbucks), Gary Barber (Chairman and CEO, Spyglass; Former Chairman & CEO, MGM Studios), Michael Weinberger (Milwaukee Bucks Investor; Former Partner, York Capital Management), Andre Agassi, Jordan Levy (Managing Partner, Softbank Capital NY), Sara Slane (Former SVP Public Affairs, American Gaming Association), George Rover (Former Deputy Director, Division of Gaming Enforcement, New Jersey), and David Baron (Global Partner, Head of Tech, Rothschild & Co), among others.
"The innovative products that Simplebet is bringing to the sports betting arena are going to be a game changer," said Sara Slane, Founder of Slane Advisory and former Senior Vice President of Public Affairs at the American Gaming Association. "Simplebet is creating the opportunity to accelerate the adoption of sports betting to a broader audience and enhance the way fans consume sports. Micro-Market betting will convert casual sports fans to sports bettors, while capturing more revenue from existing users."
Simplebet's mission is to power the future of fan engagement by creating betting opportunities for every moment of every sporting event. Simplebet enables sportsbook operators and technology platforms to offer new betting markets in an effort to attract new customers, reduce customer acquisition costs, and increase the overall lifetime value of customers.