Caesars Sportsbook announced a new microbetting partnership with SimpleBet on Thursday.
Microbetting allows bettors to wager on individual plays. SimpleBet describes it as, “Every moment becomes a game within the game.”
For football that can mean betting on the outcome of each play. When it comes to the basketball, there are options to bet on each possession or the next type of basket (2-point, 3-point, free throw) for an individual player. In baseball, micro-bets can either go per plate appearance or even based on the result of each individual pitch.
“Microbetting 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 Eric Hession, President of Caesars Digital. “Play-by-play betting is an innovation that we know our customers want access to.”
Whether customers want play-by-play betting or not, it represents found money for sportsbooks. There are countless new markets offering a multitude of opportunities for bettors to get more of their money down. Considering that this is a recent development in the industry, any money that goes into microbetting is effectively new to the sports betting environment.
Caesars already offers in-play wagering, but the automated process with SimpleBet ensures that there will be a much more robust market.
“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 CEO, Chris Bevilacqua. “Microbetting 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.”
SimpleBet offers a proprietary automated operations platform. That allows them to expand the real-time betting operation exponentially.
The challenge for any sportsbook offering microbetting is making it more appealing to the casual bettor. For hardcore bettors, they might have models to help determine the value of each potential outcome in real time.
How does the market appeal to a casual bettor who might want to play a hunch but has no idea if there is fair value being offered in real time pricing?
SimpleBet has offerings for NFL, NBA, MLB, college football, and college basketball. It will be fascinating to see how much interest it draws through an established sportsbook like Caesars. The hope for sportsbooks, naturally, will be that this becomes a wave of the future for sports betting, allowing for dozens of wagers on every game.
If that is going to happen, companies like Caesars and SimpleBet will need to make the process as easy as possible to attract new users because, when it comes to micro-betting, virtually all of the users are new.