When Major League Baseball introduced the pitch clock this season, questions swirled about how much the new technology would impact micro-betting.
With less time in-between pitches, it was fair to wonder whether the appeal of betting on single moments within a game would die off after growing in popularity the previous season. As it turns out, it did not.
Aided by more states legalizing sports betting, the MLB micro-betting handle at Simplebet is up three-and-a-half times year-over-year, according to CEO and co-founder Chris Bevilacqua.
“It’s been amazing,” Bevilacqua told BetFTW. “The window last year was around 22 seconds in between each pitch, and this year, it’s more like 15-16 seconds. So it’s actually shrunk a little bit. But what our technology is able to do at scale … we’re creating markets, suspending markets and then settling markets all in a matter of 15-16 seconds, and the whole value of our technology is we keep the window open virtually the entire 15-16 seconds.”
As a leading micro-betting B2B developer, Simplebet provides that technology to several sportsbook partners including DraftKings, Caesars and Bet365. It’s proving to be in-demand, with NBA micro-betting also up, eight times year-over-year, according to Bevilacqua.
Now, the company is turning its sights to football, and it sees a particular opportunity in the college game.
“We’ve seen that football is a really good cadence for in-play, and in particular, micro-betting. And it really is a very entertaining, engaging, interactive experience,” Bevilacqua said. “Especially for fan avidity, which you see a lot of in college even more so than NFL, you have these local tribal followings that really get deeply immersed in the team, and it sort of brings out the inner-coach and really what this type of product experience does.”
Another reason micro-betting could explode in the college game is because of how lopsided some of the contests end up being, especially early in the season.
Last week alone, 14 of 23 college football games involving top-25 ranked teams ended in blowouts of 20 points or more. Just three games finished within a single score. It can make for some rough television viewing if you aren’t a fan of either team. But having the opportunity to bet on individual plays within that type of game can keep people engaged. Simplebet rolled out micro-parlays earlier this year, and it’s also bringing a real-time visualizer to sportsbooks to make the user experience more friendly by accounting for latency bettors could experience while streaming.
Bevilacqua believes this growing technology positions Simplebet as a player in how media companies ultimately get fans to stick around longer.
“If you’re ESPN, and you know that the audience [for] a game that’s a blowout at halftime would typically go away. Our product actually keeps people around and engaged, which is why this is such a fantastic product for media companies,” Bevilacqua said. “And so all this kind of works hand-in-hand, and our product, in-play and micro-betting is right at that nexus of creating more engagement and longer watch times. So everybody wins.”