US – Intralot and Simplebet strikes real money betting micro-markets dealBy Lewis - 12 October 2020
Intralot has announced that it will be partnering with Simplebet to launch new in-play, real money betting micro-market betting opportunities for NFL, MLB, and NBA.
Simplebet, a B2B product development company using machine learning and automation to enable every moment of a sporting event to become a betting opportunity, known as micro-markets, will offer millions of new betting opportunities across Intralot Orion, the sports betting platform.
Simplebet’s micro-markets pricing engine powers in real-time both the market mechanics of a betting market (i.e. creation, suspension, repricing, and resulting) and odds for each selection. Intralot and Simplebet will begin rolling out the products this NFL season and potentially later this MLB postseason, with plans to launch for the next NBA season.
“The continuous enrichment of player experience and the enablement of state organisations in contributing to good causes are key elements of our purpose as a company. We do that organically and through partnerships with innovative companies,” said Intralot Group CEO, Dr. Chris Dimitriadis. “We are looking forward to working with Simplebet and diversifying our portfolio further.”
“As we continue to partner with leading operators and suppliers across the sports betting industry, Intralot is a natural fit for us to not only showcase our product and proprietary technology this NFL season, but to also provide a best in class experience for fans, both in the U.S. and globally,” said Chris Bevilacqua, Co-Founder and CEO of Simplebet.
“As first to market with a truly scalable enterprise solution for Micro-Markets, we’re looking forward to our launch with Intralot and providing fans with new ways to bet on and engage with sports.”
“The U.S. sports betting industry continues to grow and evolve at a rapid pace and we are thrilled to partner with Simplebet as we become a first mover in offering U.S. sports fans Micro-Markets,” said Nick Papadoglou, Chief Commercial Officer and Head of Sports Betting in the U.S. for Intralot.
“Simplebet’s Micro-Market pricing engine provides fans literally millions of additional betting opportunities tied to the moments that drive the consumption of U.S. sports, and we are excited to partner with Simplebet on bringing a new level of product innovation to the marketplace.”
Intralot has sports betting contracts in Washington, D.C., Montana, and New Hampshire. Globally, Intralot operates in 42 regulated jurisdictions with an average of $21.5bn in annual wagering, and will work with Simplebet to launch micro-markets globally after the initial launch in the U.S.