DraftKings, a US sportsbook and fantasy betting platform has agreed a deal to acquire SimpleBet. It is a micro-betting markets provider.
The directors’ boards of each brand already approved the proposed transaction. Now, it is only subject to the usual gaming regulatory approvals.
Early last week, news broke that the NFLPA, the players association of the NFL, is suing DraftKings for unsettled payments.
When announcing the deal on August 28, DraftKings stated that acquiring Simplebet would enable the integration of Simplebet’s machine-learning models into DraftKings’ pricing and technology platform. This integration aims to create highly accurate betting opportunities throughout every moment of a game.
Corey Gottlieb, Chief Product Officer at DraftKings, stated that live betting represents a potential growth area for online sports betting. He explained that the proposed acquisition would allow DraftKings to leverage Simplebet’s proprietary technology. This would create an in-play wagering experience that keeps pace with the speed of sports.
In 2024, DraftKings made headlines in February by announcing the $750 million purchase of the US lottery ticket app Jackpocket.
Chris Bevilacqua, co-founder and CEO of Simplebet, added that the transformative acquisition will merge their top-tier AI and machine learning technology with DraftKings’ product offerings. This will enhance the customer experience for a new era of real-time, in-play gaming.
Simplebet founded in 2018. It acts as a B2B or business-to-business micro-market pricing provider for top-tier US sports leagues like the NFL, baseball’s MLB, basketball’s NBA, and ice hockey’s NHL – also for the controversial Saudi-backed LIV Golf League.
Currently, the NFLPA has accused DraftKings of not paying for the use of NFL athletes’ likenesses on non-fungible tokens.
The NFLPA claims that DraftKings broke a deal regarding the licensing of players’ name, image, and likeness (NIL) rights by failing to pay licensing fees after closing its NFT business in July.
In late 2021, the initial DraftKings-NFLPA deal was struck.
