DraftKings Inc. [NASDAQ: DKNG] has inked a multi-year agreement with Simplebet. Simplebet has gained recognition as the technology firm reimagining the way fans engage with live sports. Both the firms have joined hands to introduce real-money micro-betting across the DraftKings Sportsbook.
As per the agreement, DraftKings will be able to provide Simplebet’s micro-betting products for the NFL, MLB, and NBA and a new suite of college football products, which are the first micro-betting products accessible for collegiate sports. With micro-betting, DraftKings clients will now be able to bet on even more individual moments over the course of a game through the DraftKings Sportsbook.
Furthermore, Simplebet disclosed the execution of a $15 million financing round earlier this year. It will bring total funding to $50 million. It has been disclosed that the latest financing is being used to improve the firm’s current NFL, MLB, and NBA products by adding dozens of derivative micro-markets. Moreover, it will include the unveiling of new sports, announcing new subcategories of micro-markets such as Scripts, growing engineering resources to allow more efficient customer integrations, and discovering other strategic opportunities.
Additionally, Simplebet has designed a suite of advanced micro-betting products for the NFL, NBA, MLB, and, most recently, college football. The firm allows sports betting operators, media firms, and technology firms to improve live sports by providing engaging experiences in real-time with its patented automated operations platform.