Simplebet has announced a multi-year agreement with Caesars Entertainment to launch real-money micro-betting on the Caesars Sportsbook platform.

Users of the Caesars Sportsbook will be able to put microbets on the NFL, NBA, college football, and MLB starting with the 2023 season.

Customers of Caesars can wager on the outcome of every play, including every pass, possession, and pitch, using the technology developed by Simplebet.

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Aiming to Become an Addressable Market in Sports Betting 

Chris Bevilacqua, the CEO of Simplebet, told Forbes that he anticipates a $10 billion total addressable market for sports betting micros in 2023, along with $1 billion in gross gaming income. Simplebet is nearing $1 billion in total handling and anticipates profitability in the coming year.

Caesars add Booking Offer to Encourage Players on Betting 

The deal between Caesars adds another operator to the list of bookies offering micro betting markets to their customers. These can encourage players to place more wagers on an event and keep them more involved in a game because they can wager during play.

Simplebet employs machine learning and automation to establish micro markets, allowing every athletic event moment to be a betting opportunity. Micro-markets are capable of producing results in a few seconds. 

Microbetting blends live wagering and proposition wagering. Live betting allows bets to be placed as the game is being played. Prop bets, on the other hand, rely on certain events that may or may not be directly tied to the game’s eventual result. 

According to the press release statement, micro-betting has revolutionized the way fans, operators, and media businesses consume live sporting events, and they are happy to work with such a vibrant partner to expedite its widespread acceptance, said Bevilacqua.

Eric Hession, president of Caesars Digital, stated in a statement, “Play-by-play betting is an innovation that we know our customers desire. At a time when the sports calendar is jam-packed with key events, we are thrilled to expand our product experience by bringing customers closer than ever to the sports, teams, and athletes they adore.

Simplebet has funded $80 million to date and currently provides micro betting markets for DraftKings and bet365 websites.

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