{"id":321016,"date":"2024-05-28T13:28:38","date_gmt":"2024-05-28T18:28:38","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=321016"},"modified":"2024-05-28T13:28:38","modified_gmt":"2024-05-28T18:28:38","slug":"draftkings-reportedly-eyeing-simplebet-acquisition","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/draftkings-reportedly-eyeing-simplebet-acquisition\/","title":{"rendered":"DraftKings Reportedly Eyeing Simplebet Acquisition"},"content":{"rendered":"

DraftKings (NASDAQ: DKNG) is said to be close to acquiring micro-betting provider Simplebet in a transaction that could value the target at $120 million to $170 million.<\/p>\n

\"Simpletbet\"
The Simpletbet logo. DraftKings is reportedly interested in acquiring the company. (Image: Simpletbet)<\/figcaption><\/figure>\n

Earnings + More<\/a> broke the news, citing unidentified sources familiar with the matter. As of yet, neither DraftKings nor Simplebet have confirmed takeover talks. The two companies have history. In 2021, they inked a deal<\/a> in which Simplebet provided micro-betting services to DraftKings Sportsbook. Today, the prospective suitor is the rumored target\u2019s largest client.<\/p>\n

Micro-betting is an emerging derivative of in-game or live betting \u2013 areas operators are pushing into<\/a> in an effort to boost handle and drive fan engagement. Whereas a traditional in-game bet might revolve around scenarios such as a baseball team scoring in their half inning, or other game-specific situations (point spreads, totals, etc.), the micro-betting concept offered by Simplebet goes even further.<\/p>\n

Assuming Simplebet sells itself for $170 million that implies a significant discount to its $210 valuation following a 2021 Series C funding round valued at $28.6 million.<\/p>\n

DraftKings on Buying Spree<\/h2>\n

Rumors that DraftKings is mulling a takeover of Simplebet arrived about two weeks after the former announced a deal for Sports IQ Analytics — a provider of analytics and data used by sportsbook operators to formulate odds for player prop bets.<\/p>\n

\n

Terms of that deal weren\u2019t disclosed, but it\u2019s believed to be in the $50 million to $70 million range. When adding the possible $70 million paid for Sports IQ Analytics to $170 million (potentially) for Simplebet, that implies DraftKings will have shelled out nearly $1 billion on acquisitions since the start of 2024 when factoring in the $750 million the operator paid<\/a> for internet lottery provider Jackpocket. That was a cash and equity deal.<\/p>\n<\/div>\n

Providers of specialized odds, such as Simplebet and Sports IQ Analytics, have been favored targets of sportsbook operators over the past several years. Such transactions include PointsBet doling out $43 million for Banach Technology in 2021. PointsBet US was later acquired by Fanatics and operates under that brand.<\/strong><\/p>\n

Last year, Entain Plc (OTC: GMVHY), which controls half of BetMGM, paid $266 million in cash<\/a> for sports analytics provider Angstrom Sports.<\/p>\n

Why Simplebet Makes Sense for DraftKings<\/h2>\n

Simplebet products allow sportsbook clients to wager on in-game events, including balls and strikes in a baseball game. Seizing upon bettors\u2019 desire for instant gratification, in-game micro-betting is appealing to gaming companies because it\u2019s a high-margin segment.<\/p>\n

Micro-betting is also technology-centric and it\u2019s often more efficient for sportsbook firms to acquire to this effect rather than building the technology in-house.<\/strong><\/p>\n

Other Simplebet clients include Bet365, ESPN Bet, FanDuel, and Hard Rock Sportsbook, according to the company\u2019s website.<\/p>\n","protected":false},"excerpt":{"rendered":"

DraftKings (NASDAQ: DKNG) is said to be close to acquiring micro-betting provider Simplebet in a transaction that could value the target at $120 million to $170 million. Earnings + More broke the news, citing unidentified sources familiar with the matter. As of yet, neither DraftKings nor Simplebet have confirmed takeover talks. The two companies have […]<\/p>\n","protected":false},"author":46,"featured_media":321019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093,1],"tags":[81903,81966,81967],"acf":[],"yoast_head":"\nDraftKings Reportedly Eyeing Simplebet Acquisition<\/title>\n<meta name=\"description\" content=\"DraftKings Reportedly Eyeing Simplebet Acquisition.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/draftkings-reportedly-eyeing-simplebet-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DraftKings Reportedly Eyeing Simplebet Acquisition\" \/>\n<meta property=\"og:description\" content=\"DraftKings Reportedly Eyeing Simplebet Acquisition.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/draftkings-reportedly-eyeing-simplebet-acquisition\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-28T18:28:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/05\/simplebetlogo.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"558\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-reportedly-eyeing-simplebet-acquisition\/\",\"url\":\"https:\/\/www.casino.org\/news\/draftkings-reportedly-eyeing-simplebet-acquisition\/\",\"name\":\"DraftKings Reportedly Eyeing Simplebet Acquisition\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-reportedly-eyeing-simplebet-acquisition\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-reportedly-eyeing-simplebet-acquisition\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/05\/simplebetlogo.png\",\"datePublished\":\"2024-05-28T18:28:38+00:00\",\"dateModified\":\"2024-05-28T18:28:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"DraftKings Reportedly Eyeing Simplebet Acquisition.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-reportedly-eyeing-simplebet-acquisition\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/draftkings-reportedly-eyeing-simplebet-acquisition\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-reportedly-eyeing-simplebet-acquisition\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/05\/simplebetlogo.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/05\/simplebetlogo.png\",\"width\":1000,\"height\":558,\"caption\":\"The Simpletbet logo. 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