Software Company Simplebet Raises $15 Mil for New Sports Betting Service
Simplebet software offers the opportunity for gamblers to place bets on real time odds, like which player will make the next catch in football or if the next call is a passing or running play. And now the company says it has raised $15 million in the latest round of funding in order to enhance its product offerings.
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- The firm will use the latest funds to roll out Scripts, an extension of its micro-betting service.
- Simplebet has now raised $50 million, with investors including Jim Murren, the former MGM Resorts International CEO.
- The Simplebet software is used by FanDuel Sports, among others.
- The company unveiled its product on FanDuel for the National Football League’s 2020 season, teaching consumers about the micro-betting via its free-to-play model, “PlayAction.”
- Over 100,000 unique users placed more than 8 million free-to-play bets during the 2020 NFL season on PlayAction.
- Real money betting on Greece-based gaming company Intralot was cited as one of the reasons investors are so bullish on Simplebet.
It's not just real money wagering that is all the rage.
Simplebet CEO Chris Bevilacqua told CNBC that investors were attracted to the company after a strong showing around free-to-play games on FanDuel
Regarding the Scripts, in-play betting would be enhanced as a result of this addition.
“We have the future operating system of all in-play betting,” Bevilacqua told CNBC. “And we think in-play betting is going to be the way the vast majority of sports fans are going to bet.”
He added: “It goes beyond drives and plays but expands into correlated bets. So you can bet not only on the next play but if the next play will result in a touchdown from a pass on the third play of the drive.”
- Aaron Goldstein, Gambling911.com
