DraftKings to acquire remaining stake in microbetting company Simplebet: report

DraftKings is already Simplebet’s biggest client and owns 15% of the microbetting technology provider. Hard Rock and bet365 also own a chunk of the Simplebet pie, but recent reports suggest DraftKings is about to get a bigger piece.

Earnings + More is reporting that DraftKings is close to buying Simplebet, with multiple sources suggesting a deal is close. The alleged price range of $120 million to $170 million fall short of the $210 million valuation Simplebet achieved with its $28.6 million Series C funding round back in 2021 that was led by Jake Paul’s Anti Fund, among other VC firms.

Simplebet creates microbetting markets for MLB, NFL, NBA, college football, and college basketball.