DraftKings Acquires Simplebet for $195 Million in Deal

Watch DraftKings Acquires Simplebet for $195 Million in Deal - SportsGrid on Dailymotion

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00:00SimpleBet, who we have come to know over the last couple of years, is being bought out,

00:08I think that's the right way to say, you'll correct me if I'm wrong, by DraftKings.

00:12Why did they decide to pull the trigger on this, and it's great to see you once again

00:14here on this Friday.

00:15Yeah, thanks for having me, Craig, and yeah, we found out a few days ago that DraftKings

00:21will be acquiring SimpleBet, the in-game live betting specialist that has already had several

00:30deals with some popular sportsbooks in the U.S.

00:35Analysts believe that this deal is worth up to $195 million.

00:42DraftKings has been a partner with SimpleBet since August of 2021, and they've been supplying

00:49the live in-game betting technology behind the DraftKings app, as well as a handful of

00:57other sportsbooks across the U.S.

01:00So what does this mean for you, the bettor?

01:04It means most likely DraftKings will be able to offer more live betting markets.

01:12Those live betting markets will be updated and available a lot quicker, a lot faster

01:18as you're looking to place your live in-game wagers.

01:22Now, like I did mention, Bet365, Caesars, ESPNBet, they all have deals with SimpleBet

01:30as well for this technology, you know, powering those live in-game markets on those apps.

01:38And it's not exactly clear what, if any, changes will be coming for those competing sportsbooks

01:47and their deal with SimpleBet.

01:49And as we know, too, Craig, the live betting markets have grown exponentially over the

01:56last couple of years.

01:57There was a report from SportRadar a handful of months ago saying that the live betting

02:04market in the U.S. accounts for about 35 to 40 percent of overall handle in America.

02:13Now compare that to the U.K., where live betting dominates, it's upwards of 70 percent

02:21of handle in the U.K.

02:23But the U.S. live betting market is certainly growing.

02:28This is a move by DraftKings to acquire one of the top, if not the top, live in-game betting

02:36technology providers in SimpleBet.

02:39So we'll see what this means ahead of the NFL betting season, but a big deal, upwards

02:46of $195 million, according to analysts, right on the horizon of the NFL season, Craig.