After agreeing to a deal with Caesars Sportsbook, Simplebet CEO Chris Bevilacqua believes there could be a multi-billion dollar total addressable market for live, in-game microbetting products in the next year.
Caesars recently tested streaming NFL games within its app, a potentially significant step for the sports betting industry.
Simplebet, Caesars Sportsbook deal
Bevilacqua believes micromarkets are going to be where product innovation comes in the next few years.
“We just see the acceleration now that we have two of the ‘Big Four’ operators — between DraftKings and Caesars — we’re starting to get broad distribution,” Bevilacqua told LSR.
Hammering out rights deals, which the NFL has with Caesars, and latency issues will be key factors in that process.
“Our experience in just looking at it, the latency looked pretty good,” Bevilacqua said.
Up next: soccer micromarkets
Simplebet currently has markets for MLB, NBA, NFL, college football and college basketball.
Bevilacqua said the next steps will be looking to add NHL, soccer, tennis and golf.
Particularly, SimpleBet has interest in getting into the soccer market.
Why the beautiful game
“No one’s really figured out soccer in terms of micro, and we’re excited to take a crack at that because it’s such a big global sport,” Bevilacqua said.
“We’re seeing penetrations of our micros into the percentage of live handle of existing customers that are making up 20-25% of their in-play handle, which is really strong. But in a sport like soccer, maybe you only need a few percentage points of in-play handle because it’s such a big, global, high-volume sport to begin with.”
Simplebet plans to experiment with markets on corner kicks, throw-ins and yellow cards.