Simplebet, a global sports betting technology provider, has announced its launch this week into the US sports betting space. The firm uses machine learning and automation to enable every moment of every sporting event to become a betting opportunity.
In its launch statement, Simplebet said that its proprietary use of machine learning and automation has created a new category of in-play betting called micro-markets. These are essentially in-game betting markets that are created in just minutes or seconds, driving fan engagement and sports betting to a higher level.
Later this year, the company will launch products for other professional leagues with partners who are established players within the sports betting and media industries.
“We’re thrilled to share our innovative technology and products with the sports betting world,” said Co-Founder and Chairman Chris Bevilacqua. “In-play betting, and more specifically, micro-markets, which are bets tied to discrete moments in sporting events – are the way of the future.
“This new category of in-play betting following our heavy investment in the requisite automation and machine-learning technology sets Simplebet and our future partners up for success and growth.”
In conjunction with the unveiling of its first products, Simplebet announced that it has raised more than $35m to date, closing a series B round of $11m in March. Among the long list of high-profile investors is Sara Slane, Founder of Slane Advisory and former Senior Vice President of Public Affairs at the American Gaming Association.
She commented: “The innovative products that Simplebet is bringing to the sports betting arena are going to be a game changer. Simplebet is creating the opportunity to accelerate the adoption of sports betting to a broader audience and enhance the way fans consume sports. Micro-Market betting will convert casual sports fans to sports bettors, while capturing more revenue from existing users.”