This week has been very exciting for the U.S. Sports Betting Market as several sportsbooks have expanding in the U.S. However, the latest headline which pertains the sports betting software industry is about SimpleBet Entering the U.S. Sports Betting Market.
SimpleBet is a fairly new company to enter the sports betting software market by offering a live betting software. Furthermore, what sets them apart from the rest of the competition is that they are using machine learning and automation. Therefore, they are able to provide in-game betting for various micro sports markets.
According to their statement, the sports betting product development company will be teaming up with popular betting providers like DraftKings. Furthermore, they have an impressive list of investors like sports team owners and even Jeff Mallet, the president of Yahoo.
SimpleBet Entering the U.S. Sports Betting Market came with Many Challenges
In order for SimpleBet to enter the U.S. market, they had to raise several millions of dollars first. The first round of investment capital came in March of 2020 with $11 million. However, that was just the first round and to date, they have a total of $35 million in investment money.
According to Pay Per Head Bookie blogs, several of their investors are putting faith in their products. This is because their innovative betting software will enable sportsbooks to offer an even larger array of sports wagering options.
As any sportsbook operator knows, the best way for bookies to increase profits is by having more betting options. Therefore, this is exactly what SimpleBet is offering its clients. In fact, many gambling analysts believe this is a game changer for the wagering industry.
Sara Slane who is an investor and a former VP at the American Gaming Association is 100% behind their product. She said that they are “creating the opportunity to accelerate the adoption of sports betting to a broader audience. In addition, they are also “changing the way fans consume sports”.