Caesars Entertainment is getting in on the latest trend in sports betting – micro-betting – with a brand-new multi-year partnership with leading micro-betting provider Simplebet.
Caesars Sportsbook Introduces Micro-Betting with New Partnership
Forbes reported that Caesars Entertainment has signed a partnership agreement with Simplebet, which will see Caesars Sportsbook enriched with real-money micro-betting.
This means that Caesars Sportsbook clients in all 17 US states where its mobile application is available will have the opportunity to place bets on all micro-events happening during matches from the NFL, NBA, NHL, college football, and basketball from December 15, while micro-bets on the MLB will be available once the season starts next year.
Caesars Sportsbook is the third major partner of Simplebet introducing micro-betting with the help of Simplebet’s products. The company has previously signed partnerships with DraftKings and bet365.
With the help of machine learning and automated processes, Simplebet is able to offer micro-betting, which turns every minute of any sports event into a betting opportunity.
Chris Bevilacqua, CEO of Simplebet, shared with Forbes that according to estimations micro-betting on a sports event is expected to bring in $1 billion in gross gaming revenue during 2023. He also noted that Simplebet is soon going to reach a sports betting handle of $1 billion through its partnerships with sportsbooks and the forecast is that the company will become profitable in 2023.
Bevilacqua said he is very excited to partner with Caesars as this will help micro-betting become even more popular. He also elaborated that micro-betting has completely changed the sports betting market and the attitude fans, sports betting operators and the media have toward live sports.
Eric Hession, president of Caesars Digital, also expressed his excitement about the new agreement with Simplebet noting that micro-betting is a novelty in sports betting, which customers want to have, so Casers is glad it can offer such products to its clients.
What is Micro-Betting?
Micro-betting is the latest trend in sports betting which is gaining more and more traction in the gambling industry with companies such as Simplebet and Betr revolutionizing the market.
Micro-betting allows bettors to place live-action in-game wagers on every event during a sports match, which is not necessarily connected to the final result. This could be the outcome of the next pitch in baseball or the outcome of the next free throw in basketball. The possibilities are practically limitless.
What is the most characteristic feature of micro-betting is that it is quick. The events bettors can place wagers on happen very fast so the bettors themselves have to be quick in placing their wagers. The results also come quickly making this form of sports betting intense and very exciting.