DraftKings Inc. completed its acquisition of Simplebet, a microbetting operator, paying $195 million for the remaining 85% of the company it did not previously own. This strategic acquisition is aimed at enhancing DraftKings' core technology, particularly in live betting and data analytics.
Simplebet CEO Chris Bevilacqua highlighted that the sports betting market is increasingly moving towards in-play betting, which involves wagers on events occurring during a game. This technology enables micro-timeframe and microbetting, a segment expected to drive significant user engagement.
The integration of Simplebet's technology is expected to provide DraftKings with advanced capabilities for faster product iteration and better risk management. This move positions DraftKings to capitalize on the growing demand for dynamic, real-time betting opportunities, strengthening its competitive moat.
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