Caesars Adds Microbetting Through a Partnership With Simplebet

Caesars Sportsbook recently announced they have signed a multi-year deal with Simplebet to launch real-money micro-betting on the Caesars platform. Caesars is the third major sportsbook to supply fans with in-play betting technology provided by Simplebet for sports bettors in the US.

Joining Draftkings and Bet360, Caesars is utilizing Simplebet’s technology that automatically prices the betting market in seconds. Fans will be able to place live bets on NFL, NBL, college football and basketball, and MLB during the 2023 season. 

“Forging a partnership with an iconic brand and leader in sports betting such as Caesars accentuates that micro-betting is becoming an emerging feature of the betting landscape and a must-have offering for any major sportsbook,” said Simplebet co-founder and CEO Chris Bevilacqua.

Micro-Betting Gaining Momentum

Micro-betting is a subset of in-game wagering, allowing wagerers to adjust lines, totals, and player props throughout the game. This allows fans to wager on every play, pass, possession, and pitch. 

Mirco-betting merges prop betting and live betting. Prop betting is a wager on a game that doesn’t necessarily affect the actual outcome of the game, how many rushing yards a team will have, for example. While live betting wagerers can place bets throughout the game.

“Micro-betting has transformed the way fans, operators, and media companies view live sporting events, and we’re thrilled to work with such a dynamic partner to accelerate its widespread adoption,” said Bevilacqua.

Simplebet uses machine learning and automation to generate micro-markets, allowing every moment of a game to be a betting opportunity. These markets can cause players to place more wagers for an event and stay more engaged in a game because they can bet throughout it. This is of interest to bookmakers and leagues.

“Play-by-play betting is an innovation that we know our customers want access to,” Eric Hession, president of Caesars Digital, said. “We’re excited to enhance our product experience by bringing customers closer to the sports, teams, and athletes they love than ever before at a time when the sports calendar is packed with marquee events.”

MLB Proves to be Profitable for Simplebet

The last Major League Baseball season is when we began to see micro-betting gain momentum. From opening day to the World Series, it saw month-over-month growth. Simplebet claims that it has carried into various other sports, with its current partners handling over $1 billion on in-play betting this year. 

While Simplebet offers micro-betting for the NFL, MLB, NBA, college football, and college basketball, baseball proves to be the most profitable for the company with about 40% of the handle across five different leagues. 

This upcoming spring, the MLB is implementing the new pitch clock. From the time a pitcher receives a throw from the catcher, there will now be a 15-second timer with the bases empty and a 20-second timer with runners on the base. At this time, the pitcher must initiate his motion to pitch before the timer runs out. Simplebet suspects the shortened time between pitches will play to their advantage. 

“I suspect a shorter window will just be less time to make a wager, and the only possible way this product or pitch-level markets can exist is to have our technology,” Bevilacqua said. “You can’t do it with human beings. If you’re a book and you want to exploit this opportunity, you can’t do it with anybody else other than us.”

Mac Daniel is a Michigan native and freelance writer for PlayOnlineCasino and PlayOnlineSportsBetting. He has experience writing about a wide variety of topics, including healthcare, tourism, non-profit organizations, and most recently casino and sportsbetting news. To check out more of his work, visit: playonlinemichigan.com