DraftKings to Acquire Simplebet.ai

Late last week, DraftKings (NASDAQ: DKNG) announced a deal to acquire Grit Capital Partners’ portfolio company, Simplebet.ai, and its proprietary live in-play micro-betting AI technology. Led by seasoned sports media entrepreneur Chris Bevilaqua, Simplebet is a longstanding component of DraftKings’ in-game betting handle, delivering exciting experiences to players by leveraging machine learning and automation to create thousands of real-time markets.

This acquisition underscores how applied AI is reshaping entire industries by enabling companies to offer smarter, faster, and more user-centric products. By integrating AI, companies like DraftKings can differentiate existing offerings by enhancing digital experiences and transactions, while aligning technology with customer protection.

DraftKings’ move to bring Simplebet’s technology in-house is an early example of the significant leap in the application of AI where FinTech and MarTech intersect with Commerce and Media:

• By leveraging Simplebet’s proprietary machine-learning models, DraftKings is poised to revolutionize real-time betting, offering more personalized and dynamic wagering experiences that react to the ebb and flow of games. This deal is a testament to AI’s growing role in enhancing user engagement and streamlining complex processes across a growing number of use cases.
• This transaction highlights how AI technology can be harnessed to create predictive models that allow for in-play sports betting opportunities, which evolve continuously based on live data – and can be extrapolated for applications in other digital markets with AI-native levers such as connectivity, automation and live markets.

For DraftKings, AI isn’t just a behind-the-scenes tool; it’s a transformative force driving gross gaming revenue, reducing user friction, and enabling a faster and more precise betting experience. As applied AI technologies mature, we expect to see continued redefinition of our target markets, with others to follow – and new category creation within them. We congratulate Chris and the entire Simplebet team on the realization of their vision, and are excited to watch them scale the next generation of fan engagement at DraftKings.