A New York-based B2B product development company, Simplebet, officially launches to help create products with sports betting providers. It was after raising more than $35 million in funding to date with Series B round of $11 million in March.
Simplebet uses machine learning and real-time technology as per most online gambling South Korea sources. Founded in 2018 by the industry veterans and they are to make every moment of every sports event, a betting opportunity.
Simplebet Officially Launches to Offer Operators New Betting Markets
Simplebet officially launches a technology with a threefold effect. Also, by making use of the tools, a new betting category, micro markets are created. In which the results are being produced in minutes or even seconds.
It allows existing sportsbook operators to offer basketball betting and technology platforms to provide their current customer new betting markets. And with an effort to generate new customers, reduce costs via customer acquisition, and raises overall lifetime customer value.
A Platform of Market Opportunity
In 2018, a unique market opportunity was approaching with valuable sports media rights colliding with the sports betting industry. It is through data collection and data refinement, powered by machine learning and automation.
According to its CEO, a huge market opportunity to create a fan engagement platform making sports media rights more valuable. With the combination of new sports betting revenue through sponsorship and interactivity in digital and mobile. All the while, growing the sports betting handle in the rising U.S sports betting market.
First Slate of Products
The NYC-based company will launch its first slate of products in the coming weeks. After having aligned itself with Marquee Sports Network in providing fans in Illinois with at-bat-level stats.
The founder of Slane Advisory and Simplebet’s investor, Sara Slane, likewise has high hopes for the company. She comments that the innovative products that Simplebet is bringing to the sports betting arena are going to be a game-changer as a result.
Simplebet is creating the opportunity to accelerate the adaptation of sports betting to a broader audience. Also, to enhance the way fans consume sports as well as with the Korean sports betting markets. Micro-market betting will convert casual sports fans to sports bettors. At the same time, it is capturing more revenue from existing users.