DraftKings has signalled their commitment to expanding its sports betting products by partnering with SimpleBet to provide real-money micro-betting on its sportsbook.
The two companies announced a multi-year deal today that will integrate the Simplebet micro-betting technology into the DraftKings platform. The partnership comes in a busy year for Simplebet, who earlier in 2021 secured $15 million in financing to further develop their innovative micro-betting technology.
In a joint release with Simplebet, DraftKings announced that they will have the micro-betting feature in place for the upcoming NFL season, as well as college football. It will also be available for Major League Baseball and the NBA. No launch date has been revealed as of yet for those two sports.
How Does Micro-Betting Work?
With micro-betting, sports bettors can wager on small events within a sporting event, such as pitch-by-pitch in MLB, or down-by-down in the NFL, and play-by-play in other sports. Customers can wager on individual parts of a game and trigger winnings when they correctly predict an outcome, like an interception, or a double play, a three-point shot, etc.
With real-money micro-betting, fans can put down their money with a sportsbook on small events within a contest. Because the game is constantly changing and flowing, the micro-bet opportunities are fluid, which gives bettors a chance to pursue unique odds and winnings.
Simplebet has technology to enable micro-betting with real-money wagering for the NFL, MLB, NBA, and college football. In most cases, these products are first in the industry and exclusive. On their website, Simplebet boasts that they “turn every moment of every sporting event into a betting opportunity.”
Other News About DraftKings
In news that rocked the betting industry, earlier in DraftKings announced that they would purchase Golden Nugget Online in $1.5 billion stock transaction. The deal will bring the Golden Nugget customer database to DraftKings, expanding their casino betting market. Also this month, the Baltimore Ravens named DraftKings their Official Daily Fantasy Sports partner in a partnership that’s a first for that NFL team.
Those sports fans who are attracted to the trending NFT market are happy to learn that the DraftKings Marketplace will offer NFTs of Iconic Athletes, which the company started just over a week ago.
In news out of Chicago, city officials have indicated that Wrigley Field may be one step closer to hosting DraftKings Sportsbook after legal hurdles were cleared in the Windy City. It’s expected that the sportsbook wouldn’t be operational until the 2024 season.
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