US sports betting firm Simplebet is looking to shake up the in-play US betting market, through its distinctive micro-market business model.
The B2B product development company uses real-time technology and machine learning to provide betting opportunities for casual sports fans, focusing on betting markets on individual plays within US sport, significantly increasing better engagement.
Simplebet co-founder and CEO Chris Bevilacqua spoke exclusively to Gambling Insider about how the company uses micro-markets to provide consumers with added betting opportunities.
"Micro-markets are all user versus the house, this isn’t a peer-to-peer daily fantasy type offering,” explained Bevilacqua.
“We’re talking about betting opportunities that result in minutes or seconds, unlike the traditional markets which result over the course of a two or three hour game.
“So when we say micro-markets, it really is taking two and three hour basketball games, baseball games and football games and turning them into millions of little games.”
The company has ambitions to power the future of fan engagement across the US, starting off with basketball, American football and baseball.
“If you look at our first three products – NBA, NFL and MLB – in 2020 alone, we’re able to bring the market between those three sports across every single game, about 2.5 million new markets,” added Bevilacqua.
“Baseball is almost a million and a half of those, football is about 600,000, and NBA is about 750,000, and those are just the early markets.
“We have derivative markets that we will make out of all those markets which will increase the amount of micro-betting opportunities by a factor of ten, so three years from now, just from those three sports, we will have 25 million betting opportunities.”