Micro-betting is a new variant for in-gaming and live sports betting. Operators are pursuing to increase handle and encourage fan engagement. Simplebet’s micro-betting concept goes far from conventional in-game betting, focusing on baseball teams with their first-half score and other game-specific events.
Simplebet’s baseball betting options, for example, allow gamblers to predict whether pitcher’s next will be balls pitch, strike, or play. Users may also wager on the number of pitches thrown during a given at-bat, as well as whether a hitter will hit, get dismissed, or reach base in some other way.
Speculate on whether the batter will hit a Single, Double, Triple, or other. After each pitch, the market is re-priced, allowing players to wager on the present appearance of the plate or an upcoming appearance of the plate. Results of the market will be released before the first pitch of the following presentation of the plate.
Simplebet now offers micro-betting options for the NFL and NBA and football games this season. These are the first collegiate sports micro-betting services.
DraftKings, which is based in Boston, has made no secret of its desire to expand its business in live betting. In 2019, the betting firm launched a similar product in time for Wimbledon and a live wagering agreement with the NBA.
In an interview with Barron’s, Jason Robins, co-founder of DraftKings, said that in an expanding market of sports betting like in the UK, live betting is prevalent, bringing in around 75 percent revenue to the country’s sportsbooks.
In-game betting in the United States is nothing near the percentages observed in other betting markets, indicating plenty of opportunity for development. Live betting is fewer than 20% of total handles at Nevada sportsbooks.
Micro-Betting is Tech-Heavy
Although there is a good interest in live betting among bettors in the US, few feel it is only suited for slow-moving sports. However, others think that sportsbook operators lack technologies to quickly handle bets on NBA events like balls and strikes or missed shots.
Simplebet is attempting to assuage such fears. Earlier this year, the privately-owned firm raised $15 million, increasing its total cash to $50 million.On a sidenote, a new development in the sports betting industry is that both betting and crypto enthusiasts, alike have begun to take an active interest in the world of crypto sports betting, and people have started using many a Bitcoin betting site to place their bets.