Global lottery and sports betting supplier Intralot Group and its US subsidiary, Intralot Inc, has agreed to a partnership with Simplebet.
The global sports betting technology firm has announced the launch of what it claims is the first-ever in-play, fully automated real money ‘Micro-Market’ betting offering in the US. It will be made available in Washington DC via its partnership with Intralot Inc.
Simplebet’s proprietary Micro-Market pricing engine combines automated market mechanics of a betting market (creation, suspension, repricing, and resulting) with odds for each potential outcome of a respective occurrence.
Users of the lottery-operated sports betting platform provided by Intralot Inc will experience millions of betting opportunities across professional sports through GambetDC.
Chris Bevilacqua, Co-Founder and CEO of Simplebet, said: “We’re excited to launch our real money betting product in Washington DC and showcase the power of what we do at Simplebet alongside our great partner, Intralot.
“DC legalized sports betting nearly two years ago and has become an energetic melting pot for sports fans and casual sports betters so we are looking forward to rolling out our Micro-Market solution which we know will deliver an unmatched product and experience.”
Intralot CEO Byron Boothe commented: “As the competition in the sports betting landscape across the United States continues to evolve, we believe that Micro-Market betting is one of the best ways to increase and build fan engagement.
“Soon, fans in DC will have the ability to place bets on literally millions of different outcomes across professional sports and recognize the best-in-class offering with Simplebet’s technology and a product that differentiates us.”
Intralot Inc is the operator of the only city-wide mobile sports betting offer in Washington DC. Simplebet’s technology will enable the platform to offer new betting markets that will power increased fan engagement, attract new customers, reduce customer acquisition costs and increase the lifetime value of customers in the district.
Last month, Intralot announced a loss in its financial results for the nine-month period ended September 30, 2020, mainly due to the effects of the COVID-19 pandemic.