- Legal States
Fiona Simmons November 29, 2022 2 min read
Simplebet Micro Betting Markets Picking up for NCAAB
Micro betting is becoming increasingly popular, not only because Betr, a new startup backed by Jake Paul, but also because of changing consumer preferences. That is the conclusion that Simplebet, a micro-betting market platform has drawn from its work with prominent clients such as Betway, bet365, DraftKings, and many others.
Micro Betting Markets to Reap Big Benefits During NCAAB Season
Simplebet will make micro-betting lines available for more than 2,500 NCAAB games this season, with consumers able to bet on each successful scoring outcome and experience betting in a brand-new way. The news comes as more than 30 states have regulated sports gambling in the United States, and micro-betting is a legitimate product that players and consumers can engage with.
Simplebet is confident in the success of this new form of betting and the NCAAB season is a perfect opportunity for the company to test this. Simplebet’s product is based on machine learning algorithms that help provide quick fixtures to consumers who are waiting to make split-second decisions. Presently, DraftKings is the biggest operator in the United States to offer Simplebet’s micro-betting format and markets, with 19 states covered by the prominent sportsbook.
Bet365’s offer is limited to Colorado and New Jersey presently, with a launch in Ohio scheduled for January 1, 2023. Betway in the meantime is present in seven markets, among which are New Jersey, Pennsylvania, and others. Even though micro-betting markets are usually capped at $50 at the most, there is growing interest in this form of betting mostly because sports fans feel more involved in the moment.
There is no need to wait for an entire game to wrap up to find out the results, and micro-betting is more or less a continuation of the in-play betting experience. Simplebet products reported $262 million in bets during Major League Baseball for 2022. Interestingly, the MLB postseason led to an overall increase in micro-betting markets.