DraftKings has entered into an agreement to acquire Simplebet, a leading sports betting provider of in-play micromarket content and pricing.

The Merger Agreement and the Proposed Transaction have been approved by the Boards of Directors of each of DraftKings and Simplebet. The Proposed Transaction is subject to the receipt of required gaming regulatory approvals and other customary closing conditions.

The Proposed Transaction would allow for the integration of Simplebet’s proprietary machine-learning models into DraftKings’ best-in-class pricing and technology platform to create highly accurate betting opportunities during every moment of a game. The Proposed Transaction would improve the quality, breadth and speed of data throughout the DraftKings trading lifecycle, and would unlock a faster and more frictionless experience for the Company’s customers. 

“Live betting represents an area for potential growth for online sports betting, and the proposed acquisition would allow DraftKings to leverage Simplebet’s proprietary technology to create an in-play wagering experience that moves at the speed of sports,” said Corey Gottlieb, DraftKings Chief Product Officer. “And while we continue to elevate our product offering in this space, we are also committed to building technology that supports our robust consumer protection standards.”

Founded in 2018, Simplebet is a B2B provider of micromarket pricing for the NFL, MLB, NBA, NCAAF, NCAAB and the NHL. Simplebet has developed a scalable, maintainable, and highly performant foundation for a live betting platform that is algorithm oriented. With machine learning and automation to supplement the betting experience, Simplebet’s proprietary models offer more in-play moments for bettors. Simplebet uses in-house technology to price micromarkets. Simplebet and DraftKings both have proprietary machine learning libraries and platforms that, once combined, will present an opportunity to step-change DraftKings’ machine learning operations.

“Joining forces with our long-term collaborators at DraftKings will further the Simplebet mission to make every sports moment matter,” said Chris Bevilacqua, Simplebet co-founder and CEO. “This transformative acquisition, upon completion, will marry our best-in-class AI and machine learning technology with the DraftKings product offering, enhancing the customer experience for a new era of real-time, in-play gaming.”