Simplebet Raises $15 Million To Enhance Live Betting Product

• Simplebet has raised $15 million to upgrade their live betting platform as well as reach new leagues and sports.
• Simplebet offers micro-market betting which allows sports bettors to put action on every detail of a live game.

NEW YORK—Simplebet has raised a total of $15 million from their investors in order to better their sports betting platform. More specifically they will look to enhance their micro-market live betting technology that they offer.

Simplebet expands the amount of live betting opportunities a given sportsbook can offer.

For example, legal sports betting sites will usually allow bettors to put action on the moneyline or point spread that continuously updates as the game goes on. However, Simplebet opens the door for betting on individual plays or possessions during a game.

Sportsbooks with Simplebet go as far as to let users bet on if a team is about to run or pass the ball, score a home run or strikeout, make/miss their next free throws and more.

One online sportsbook that has already begun using this quick odds platform is FanDuel sportsbook. Simplebet actually used their platform on FanDuel in order to market themselves even more.

“We have the future operating system of all in-play betting—And we think in-play betting is going to be the way the vast majority of sports fans are going to bet. It goes beyond drives and plays but expands into correlated bets—So you can bet not only on the next play but if the next play will result in a touchdown from a pass on the third play of the drive,” said Chris Bevilacqua, CEO of Simplebet.

Simplebet actually unveiled their live betting odds on FanDuel during the 2020 NFL season in which they offered free-to-play bets that saw over 100,000 users place a total of 8 million bets during the season.

Other than their partnership with FanDuel and their NFL play-in odds, they also have a partnership with PointsBet to offer data on the MLB as well as a partnership with the NBA to provide odds for their InPlay betting also.

With the sports betting industry continuing to grow at a rapid pace, it is safe to say that Simplebet will continue to grow their quick odds platform as they look to continue gaining partnerships with other online sports betting sites.

News tags: Chris Bevilacqua | FanDuel Sportsbook | in-play betting | live betting | Simplebet