DraftKings Acquires Simplebet

DraftKings has announced an agreement to acquire Simplebet, presenting an opportunity for one of the leading sports betting firms to enhance its in-play betting capabilities and leverage artificial intelligence to improve its offerings.

While specific details of the transaction remain undisclosed as it awaits regulatory approval, both companies' boards have already endorsed the acquisition. This marks DraftKings' second significant acquisition this year, following its purchase of Jackpocket in May.

The acquisition of Simplebet will enable DraftKings to incorporate Simplebet's AI learning models into its platform, allowing it to provide customers with "high-precision betting opportunities at every moment of the game." The company asserts that real-time betting will create an experience that "moves at the speed of sports." DraftKings' Chief Product Officer Corey Gottlieb emphasised their commitment to developing new technologies that uphold strong consumer protection standards while expanding their product offerings in this area.