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Industries
Consumer Software
Gaming
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$62.7M
Headquarters
New York City, New York
Founded
2018
Simplebet operates in the sports betting industry by providing technology that allows sportsbooks, gaming operators, and media companies to create betting opportunities for every moment of a sporting event. Their platform includes features like automated live pricing, game trackers, and free-to-play games, which help to enhance the live betting experience for users. Unlike many competitors, Simplebet focuses on integrating these features seamlessly into existing systems, ensuring compliance with regulations and offering dedicated technical support. The company's goal is to increase user engagement and retention through innovative betting solutions while generating revenue by licensing their technology and offering custom contests.
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Total Funding
$62.7M
Above
Industry Average
Funded Over
5 Rounds
At the end of DraftKings’ fourth-quarter earnings call Friday (Feb. 14), Co-founder and CEO Jason Robins was asked whether the company would ever accept cryptocurrency payments.“It’s certainly something we’re looking at,” he told analysts. “It’s also getting regulators comfortable with it. They’re usually cautious around crypto. There are only a handful of states open to it at the moment, but if it grows to a larger number of states, it’s something we’d take a longer look at.”Cryptocurrencies like bitcoin, ethereum, and stablecoins are being integrated into sports betting platforms, according to an Evoloution Jobs post, offering faster transactions, lower fees and better privacy. Blockchain technology ensures transparent betting by allowing bettors to verify the fairness of outcomes.According to a PYMNTS Intelligence report, “The Treasury Management Playbook: Spotlight on Cross-Border Payments,” a collaboration with Citi, stablecoins provide an alternative by enabling near-instant transfers, reducing costs, and increasing transparency with the use of blockchain technology
DraftKings acquired Simplebet for $195 million. Chris Bevilacqua, a co-founder of Simplebet, discussed the sale, citing challenges with live data rights and sportsbooks' preference for proprietary tech as key factors. The Sporticast episode also covered the impact of streaming services on sports media, the shift in advertising ROI metrics, and the future of college sports, with Bevilacqua's group exploring new business models for the NCAA.
DraftKings Inc.
The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.The reader should not assume that the information is accurate and complete.
Simplebet also launched a new "Visualizer" market for college football, capitalizing even more on the rise of microbetting and innovation within the industry.
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Industries
Consumer Software
Gaming
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$62.7M
Headquarters
New York City, New York
Founded
2018
Find jobs on Simplify and start your career today