Tag: simplebet

LIV Golf announces Simplebet as official sports betting innovation partner

Simplebet is a leader in micro-betting products.

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On Wednesday, LIV Golf League announced it reached an agreement with Simplebet, a leader in micro-betting products, to be its official sports betting innovation partner.

“Developing new ways that golf can progress into the future has been a league tenet since day one,” LIV Golf Commissioner and CEO Greg Norman said in a release. “LIV Golf presents a supercharged tournament and fan experience showcasing a consistent field of the world’s best players competing at the same time under the same conditions. With golf becoming an increasingly popular sport within the multi-billion-dollar sports betting market, our league is proud to work with Simplebet, which aligns with our competition model that every shot from every player is meaningful from start to finish.”

To better understand how Simplebet works, think of it as live betting on steroids. For example, instead of betting on Cam Smith to win the event during the second round, you can bet on if he’ll hit the 12th fairway or not. You can bet on the outcome of a seven-foot birdie putt.

Live betting, but on the micro-level.

“This is a transcendent moment for the sport, and we are thrilled to serve as the Official Sports Betting Innovation Partner of LIV Golf,” Simplebet CEO Chris Bevilacqua said in a release. “We’ve revolutionized the way audiences around the world connect with live sports by unlocking fan engagement opportunities and together with LIV Golf, we will create the new blueprint for how sports leagues can maximize their IP through innovative betting.”

LIV Golf’s next event will be held Aug. 4-6 at The Greenbrier.

Why the World Series is the perfect place for microbetting to thrive

Microbetting has seen an uptick in popularity during the MLB playoffs.

The Houston Astros and Philadelphia Phillies aren’t the only teams enjoying a successful postseason. You can throw the leader in microbetting, Simplebet, into that group too.

After a regular season where Simplebet clients received 40% of their baseball handle from microbets — bets on pitch-by-pitch results as opposed to full game outcomes — the market has accounted for 43% of the handle in the postseason, CEO & co-founder Chris Bevilacqua told SportTechie.

And there’s reason to believe that number could jump even more in the World Series.

“The main driver is what we call island games,” Bevilacqua said of the playoff surge. “There is only one game on at a time. We see that phenomenon in football as well. The three biggest handle nights of the NFL season are Thursday night, Sunday night, and Monday night because it’s the only game on and they’re all on national TV.”

Bevilacqua called Simplebet’s pitch velocity microbet the “core proposition” of their technology. That specific bet allows bettors to pick an over/under on the speed of the next pitch. The company uses data from official league partners to create real-time odds for these type of microbets, allowing users on client platforms such as DraftKings and Betr to wager on the outcomes.

New Jersey recently became the latest state to allow pitch speed betting when regulators approved it last Friday, just in time for the World Series. Bevilacqua said New York, Virginia and Indiana are the only other states where it isn’t approved yet.

These type of bets are seen by some as a solution to baseball’s pace-of-play problem. They give people a game within the game to distract from down-time. With all eyes on the Astros and Phillies, we’ll get a better idea of just how popular microbetting can be.

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