According to Simplebet, there were notable events that helped contribute to a 120% jump in the handle and the overall number of bets accepted during the season.
Micro Betting Finds Strong Foothold in College Sports
Simplebet specializes in micro bets, which are designed to appeal to a new demographic of sports bettors who want to “play in the moment,” and are essentially looking for numerous angles to engage with betting products.
The company is part of a growing ecosystem, including Betr, a Joe Levy and Jake Paul-backed venture. However, Simplebet is in its nature a technological supplier and provider of micro-betting markets, whereas Betr is a fully-fledged betting operator. Simplebet is also backed by Levy.
Simplebet broke down what teams had contributed, with the University of Colorado turning out to be the “second most interacted with” team during the season, and the Ohio State Buckeyes receiving the most micro bets during the season. The company is already present in Colorado with ClutchBet.
Commenting on this performance, Simplebet CEO Chris Bevilacqua said that the company was excited to have seen its college football micro-betting markets perform so well. He added:
“This is a testament to the hard work of our entire team at Simplebet and the underlying technology, providing markets for 660 games this season and every upcoming bowl game and playoff game.”
Bevilacqua confirmed that the company will continue to work on strengthening its micro-betting product and said that it would be happy to work with new operators who are warming up to the idea of introducing this form of betting to their own platforms.
Growing Awareness for the Micro Betting Products
There seems to be no shortage of suitors either, with Simplebet’s offer already live on several prominent sportsbooks, including Caesars, bet365, Hard Rock Bet, and DraftKings. Simplebet has sought to establish a visible footprint with sports events as well, becoming the official betting partner for LIV Golf.
In the meantime, college betting doesn’t seem to be the only vertical that is responding positively to this new market. MLB micro-betting is also performing well, with the segment growing by 88%. The NBA season has also been quite good.
As to college sports, the Michigan Wolverines were the third most bet team in the season, and the Washington Huskies were the fourth most heavily bet-on team. The supplier also recently launched its offer with Bet99, a Sports Venture Holdings brand.