Why DraftKings Chose to Double Down on Microbetting

As sports betting has swept across the American landscape, both fans and betting providers have sought out new and exciting options for wagering on games. There is, of course, the traditional method of simply betting on the outcomes of games, but providers have increasingly looked at ways of encouraging bets that come with a more immediate payoff and sense of gratification for bettors. The idea of betting on individual moments within a game rather than the outcome or point spread is called micro betting a simple bet. A B2B development company that employs machine learning in real time technology to make every moment of every sporting event a betting opportunity has pioneered the technology that makes this kind of action possible. The ability to create increased fan engagement and investment across every pitch, snap or free throw is precisely the sort of thing that attracted draftkings to sign a multiyear agreement with simple bet to incorporate their technology into the sports gaming giant's platform. Chris Bevilacqua, the CEO of simple bet, joined market scale to discuss the partnership with draftkings and what makes micro betting so appealing to sports fans in 2021. So far, I mean, draftkings has been a great partner. They've been true to their word. They I think they got out in front of the whole industry, quite frankly. I mean, if you see what's going on across the industry with the vertical integration, right, they bought SBTech. They've now integrated it in and migrated over to their own internal tech platform. And they're now really pursuing product innovation. And among the first products that they've put out once they've had this migration complete are our micro markets and our technology, right, which is now we've only been live with them now for seven weeks. And, you know, I think they have some pretty aggressive marketing plans coming and it's a different type of bedding experience. They still have all their other core markets and all the other products that they had had previously, you know, had had on the site. But they now, I think, have a real emphasis on creating differentiation and unique user experiences. And they're really, I think, hyper focused on product innovation and obviously looking at customer acquisition as new states legalize and they roll into new states and I think they have a strong belief as we do that product innovation is really what's going to drive this next, I think growth period for sports betting. Michael betting is still in the early stages of adoption, but the appetite and opportunity for growth is there amongst fans. Chris gave us his perspective on why this is the case. Oh, 100% I mean, I call it the TikTok application of sports consumption, right? I mean, you've just got a whole generation or actually two generations, right? Generation y and Generation Z who are coming upon a world where you know, there's 350 million television sets that sit inside of people's pockets walking around the United States right now. And so each one of these experiences is a individually customizable content experience, and I like what I like. I like what I want. I want what I want when I want it on what device I want it. So it's really, you know, move more towards a completely different media consumption model. And so you're getting a lot more like bite size type content and that that goes true for sports, right? So you've got a whole generation or two generations walking around out there with the primary consumption isn't sitting down in front of a static television set for 3 and 1/2 hours and watching an entire game. They're in and out of it. They're doing multiple things at the same time, they're interacting with second, second screens and, you know, they just it's more of an entertainment experience. So I think that's really where the whole world is going. For more news and analysis across the industries that matter most to you. Stay locked in to market scale.