DraftKings to Acquire Simplebet for Technology Integration

DraftKings has announced its agreement to acquire Simplebet, a leader in microbetting technology, to enhance its live betting services. The acquisition, valued at an estimated $120 million to $170 million, will integrate Simplebet’s advanced machine-learning models into DraftKings’ platform, allowing for highly accurate and timely betting opportunities during live events. Simplebet, founded in 2018, has established itself in the sports betting sector by providing real-time betting options on individual game moments, which is expected to attract a wider audience and improve user engagement. DraftKings’ Chief Product Officer, Corey Gottlieb, highlighted that live betting represents a significant growth area, and this deal is a strategic move to capitalize on that potential. The acquisition is pending regulatory approvals and aims to create a superior betting experience that sets DraftKings apart from its competitors. Simplebet's integration is projected to enhance the overall quality and speed of data available during the betting process.