Sports betting just gained a new player.
NYC-based Simplebet announced Wednesday that it has officially launched in the United States, bringing its proprietary betting technology to the worlds of professional baseball, basketball and football.
Simplebet aims to take sports betting and overall fan engagement to the next level. With the help of machine learning and automation, the platform allows its users to bet on virtually any moment (or “micro-market”) of any game. In baseball, audience members can bet whether the next pitch will be a ball, strike or hit; in basketball, they can bet on whether the player will make the shot at the free-throw line. Every second becomes a “game within a game,” according to the company.
Co-founder and CEO Chris Bevilacqua describes this kind of betting as the “way of the future.”
“This new category of in-play betting following our heavy investment in the requisite automation of machine learning sets Simplebet and our future partners up for success and growth,” Bevilacqua said in a statement. “We’re thrilled to share our innovative technology and products with the sports betting world.”
Bevilacqua is an industry veteran and an investor in a range of sports, media and tech ventures including StubHub, Lyft, Airbnb and SpaceX. Since the company’s founding in 2018, Simplebet has raised more than $35 million in funding, garnering investments from some of the industry’s most prominent names, including MLB’s San Francisco Giants Baseball Club, David Blitzer of the Philadelphia 76ers and New Jersey Devils, and Sara Slane of the American Gaming Association. Former Starbucks CEO and Seattle Seahawks owner Howard Schultz is also an investor.
“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,” Slane said in a statement. “The innovative products that Simplebet is bringing to the sports betting arena are going to be a game changer.”
The company says it will launch its first slate of products within the year, with a set of “revolutionary” betting products coming just in time for the World Series beginning in October.
