DraftKings to Acquire Micro-Betting Platform Simplebet for Up to $170 Million

DraftKings, a major player in the American sports betting industry, is set to acquire an 85% stake in micro-betting platform Simplebet, as reported by Vegas Slots Online. The betting giant already holds 15% of the business but aims to complete a full takeover.

This move follows DraftKings’ initial investment in Simplebet back in August 2021 when the two companies formed a strategic partnership. The collaboration introduced micro-betting to the customers of one of the leading U.S. bookmakers. The acquisition of the remaining shares of Simplebet is valued between $120 million and $170 million.

If the deal goes through, DraftKings will secure a valuable asset, capitalizing on the growing popularity of micro-betting among bettors.

Simplebet’s turnover from early April to mid-May 2024 exceeded 7 million bets, marking a remarkable 120% increase compared to the same period last year.

Additionally, Simplebet provides micro-betting services to top American sportsbook operators, including Bet365, ESPN Bet, Hard Rock, and Caesars.

This acquisition will further strengthen DraftKings’ influence across various sectors of the gambling industry. Notably, just last week, DraftKings completed a $750 million acquisition of the lottery company Jackpocket.

Simplebet allows users to place bets on various intermediate and statistical outcomes of sporting events, including passes and ball possession in football, as well as the result of each pitch in baseball.