Simplebet suggests micro-betting is the future
Simplebet is one of many companies looking to disrupt the online and mobile sports betting industry with innovative ‘micro-betting’ markets. In the first three rounds of the NFL playoffs, the company has revealed that over $1.5 million had been wagered on a touchdown scorer in an individual drive.
What can punters bet on?
The typical in-play bet would cover ‘next touchdown scorer’, rather than on an individual drive. Odds therefore will be shorter overall, as the nature of micro-betting is wagering on a smaller, more specific moment for better odds. The SimpleBet offering allows punters the choice of nine players:
- Running Back 1
- Running Back 2
- Wide Receiver 1
- Wide Receiver 2
- Wide Receiver 3
- Tight End
- Quarter Back
- Other Player
- No Touchdown
Which other markets do well?
The company has outlined ‘high usage’ of the micro markets across the first three rounds of the playoffs, which saw a total of 65 touchdowns scored across the 12 matches staged. The company has not revealed the margin or GGR based on the handle. The release also champions another type of micro-bet, based on drive, which allows punters to wager on whether the drive will be a pass or rum, as well as if the drive will result in a first down. The aforementioned market drove $1.3 million in handle across the first three rounds of playoffs.
Another market mentioned in the release was outcome of kickoff, which although phrased invitingly, is a market that has been available for pre-match wagering in the past. 6.5% of all micro-bets through Simplebet were wagered on the outcome of the kick-off.
Co-Founder and CEO of Simplebet Chris Beviliacqua commented: “January has been a banner month for Simplebet, with the College Football National Championship Game starting things off strong. The NFL Playoffs got off to a bang with Super Wildcard Weekend and the momentum really carried through the following two rounds. The Chiefs-Bengals AFC Championship game saw Super Bowl-esque numbers.”
He continued: “We saw an incredible amount of action on our highly detailed markets, and with points being scored seemingly every drive, more and more bettors wanted a piece of the action, and our markets proved to have the most uptime for the ordinary bettor who is looking for instant gratification. The amount of traffic we saw on key markets from major partners such as Caesars and bet365 proves the appetite is there amongst wagerers for microbetting and instant gratification, and we can’t wait to see what the Super Bowl has in store for us.”
What does micro-betting look like for Superbowl LVII?
Superbowl LVII is set to be the biggest betting event of the year, and Simplebet will be optimistic that micro-betting markets will garner a similar positive response. The flagship final of the NFL will take place in Phoenix, Arizona and feature the Philadelphia Eagles and Kansas City Chiefs. Arizona, the host state, legalized AZ sports betting when Gov. Doug Ducey signed a bill into legislation in April 2021.
The Philadelphia Eagles are based in Pennsylvania, one of the stalwarts of sports betting in the United States. The first legal retail sportsbook opened in November 2018 and legalized PA online sports betting as been around since May 2019.
Interestingly, Kansas City of Missouri is yet to legalize anything. Online sports betting in Missouri is going through the legislative wheel, with HB 566 and HB 581 both having gone through their first and second readings. A hearing has yet to be scheduled.
Source: Basketball Insider