Online Betting Product of the Year at the 2023 American Gambling Awards goes to Simplebet
In the dynamic world of online gambling, one company has stood out for its innovative approach and significant impact - Simplebet. The B2B technology company, specializing in microbetting, has been recognised as the 2023 and 2022 Online Betting Product of the Year at the American Gambling Awards.
Produced by Gambling.com Group Limited, the American Gambling Awards honour excellence in the regulated global online gambling industry. The awards can be found on the website www.gambling.com/us/awards.
Simplebet's innovative microbetting product, which involves small, frequent wagers on specific in-game events, has gained industry recognition and strong investor confidence. In August 2021, the company raised $30 million in a financing round, led by Jake Paul’s venture capital firm Anti Fund. DraftKings later acquired Simplebet in a deal worth approximately $80 million in 2024, underscoring the company's significant market value and the popularity of its microbetting format.
Simplebet's microbetting product has not only influenced the online sports betting market but has also sparked regulatory discussions. New Jersey lawmakers proposed a ban on microbetting to curb impulsive gambling, citing concerns about addiction and game-fixing risks associated with these fast-paced wagers. However, Simplebet remains a key innovator in evolving sports betting experiences by enabling real-time, granular betting options.
Simplebet's success is evident in its impressive numbers. During Super Bowl LVII, the company handled over $14 million in bets across all partners. During the NBA Playoffs, Simplebet handled a total of $47 million and had 200K unique users. The company's microbetting product is now live in 27 states.
Simplebet's CEO, Chris Bevilacqua, expressed gratitude for the award and looked forward to a potential three-peat next year. The company has seen strong growth across sports such as MLB, with a Year-over-Year growth of 225%.
In addition to its sports offerings, Simplebet has also made strides in the gaming industry. Larry Henry, a veteran reporter and editor with experience in the gaming industry, particularly in states like Nevada, Tennessee, and Louisiana, has joined the company. Simplebet is also the official innovation partner for LIV Golf.
Simplebet's use of machine learning and artificial intelligence led to an innovative partnership deal with LIV Golf. The company has built the machine learning and automation infrastructure to enable microbetting at scale.
In summary, Simplebet is a leading sports betting technology firm credited with pioneering microbetting, securing substantial funding and acquisition deals, and gaining industry recognition through awards such as the 2023 and 2022 Online Betting Product of the Year. The company continues to be at the forefront of fan engagement with its live in-play microbetting product, as highlighted by Charles Gillespie, Chief Executive Officer of Gambling.com Group.
- In the casino-and-gambling sector, news about Simplebet's recognition as the 2023 and 2022 Online Betting Product of the Year at the American Gambling Awards, coupled with their venture into the gaming industry and partnership with LIV Golf, underscores their significant impact in the dynamic world of sports betting and technology.
- With the launch of their innovative microbetting product, which has sparked regulatory discussions and gained strong investor confidence, Simplebet has not only made headlines in sports news but also technology circles, as they continue to pioneer real-time, granular betting options and employ machine learning and artificial intelligence.
