he first-ever in-play, fully automated real money Micro-Market betting offering in the U.S. will be made available in Washington, D.C. via Simplebet's partnership with INTRALOT Inc., the US subsidiary of INTRALOT Group.
Simplebet’s proprietary Micro-Markets pricing engine combines automated market mechanics of a betting market (i.e. creation, suspension, repricing, and resulting) with odds for each potential outcome of a respective occurrence. Users of the lottery-operated sports betting platform provided by INTRALOT Inc. will experience millions of betting opportunities across professional sports through GambetDC.
“We’re excited to launch our real money betting product in Washington, D.C. and showcase the power of what we do at Simplebet alongside our great partner, INTRALOT,” Chris Bevilacqua, Co-Founder and CEO of Simplebet, said in a press release. “D.C. legalized sports betting two years ago and has become an energetic melting pot for sports fans and casual sports betters so we are looking forward to rolling out our Micro-Market solution which we know will deliver an unmatched product and experience.”
“As the competition in the sports betting landscape across the United States continues to evolve, we believe that Micro-Market betting is one of the best ways to increase and build fan engagement,” said Byron Boothe, INTRALOT Inc. CEO. “Soon, fans in D.C. will have the ability to place bets on literally millions of different outcomes across professional sports and recognize the best-in-class offering with Simplebet’s technology and a product that differentiates us.”
INTRALOT Inc. is the operator of the only city-wide mobile sports betting in Washington, D.C. Simplebet’s technology will enable the platform to offer new betting markets that will power increased fan engagement, attract new customers, reduce customer acquisition costs and increase the lifetime value of customers in the district. Globally, INTRALOT Group operates in 42 regulated jurisdictions with an average of $21.5 billion in annual wagering.