Simplebet
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Simplebet was a New York-based B2B sports betting technology company founded in 2018 by co-founder and CEO Chris Bevilacqua. It built machine-learning models for in-play 'micromarkets' - granular bets on what happens next inside a game, such as the speed of the next baseball pitch - supplying automated pricing to sportsbook operators. Its product launched during the COVID pandemic in 2020 and became a leading provider of in-game wagering content and pricing in the U.S.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Company founded
Chris Bevilacqua founds Simplebet in New York to build microbetting technology for major U.S. sports leagues.
- Product launch
Simplebet launches its in-play microbetting product during the COVID pandemic; its models draw on data from millions of historical pitches and at-bats to price granular in-game wagers.
- Acquired by DraftKings
On August 28, 2024, DraftKings agrees to acquire Simplebet - already a 15% shareholder - reportedly paying $195 million for the remaining 85%, and completes the deal on December 3, 2024, integrating Simplebet's machine-learning models into its sportsbook's live-betting offering.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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