DraftKings to Enhance Micro-Betting with Rumored Simplebet Purchase
DraftKings is reportedly looking to expand its portfolio with the acquisition of Simplebet, a company known for its micro-betting technology.
DraftKings rumored to discuss potential Simplebet acquisition.
LISTEN TO THIS ARTICLE:According to sources familiar with the matter, discussions are ongoing, with the purchase price speculated to be between $120 million and $170 million.
The appeal of Simplebet lies in its advanced micro-betting technology, which could seamlessly integrate with DraftKings’ existing same-game parlay features. This potential acquisition follows DraftKings’ recent purchases of Jackpocket and Sports IQ Analytics, further solidifying its dominant position in the market.
Acquisition follows Successful Partnership
DraftKings already has a history with Simplebet, having partnered with the company last year. This collaboration resulted in DraftKings acquiring a 15% stake in Simplebet and launching real money micro-betting on DraftKings Sportsbook, which significantly boosted Simplebet’s turnover.
Negotiating the financial terms of such a major gambling industry acquisition could be complex, especially considering Simplebet’s previous valuation of $210 million after a Series C funding round. However, current speculations suggest that the final sale price might be lower than that.
Simplebet’s recent performance metrics underscore its value, particularly with the company recording double the betting volume and total handle since the start of the MLB season, indicating growing user engagement.
DraftKings appears to be focusing on meeting the rising demand for live betting and micro markets. This acquisition aligns with its strategy to integrate more sophisticated features into its platform, thereby offering richer betting experiences across various sports leagues worldwide.
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Staying Ahead of the Competition
This move is part of DraftKings’ broader goal to expand its online gaming portfolio and dominate the market. The company’s strategy has consistently aimed at not just keeping pace with competitors but staying ahead.
Experts speculate that the potential integration of Simplebet’s micro-betting system with Sports IQ’s player prop capabilities could significantly enhance DraftKings’ sports betting services.
DraftKings is already on a growth trajectory within the global sports betting industry. If the Simplebet acquisition goes through, it will provide DraftKings with a competitive edge, marking another significant milestone toward its ambition of becoming the leading sports betting powerhouse.
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