AI-based gambling solutions give operators more options to offer their users

Simplebet is singularly focused, looking to make the software behind gambling operations easy. It has already found a great deal of success with its goal, mostly because of its structure. In difference to many gambling platforms, Simplebet is built around artificial intelligence (AI), which gives operators a more extensive range of betting options to offer their users. As the company continues to gain more support, it has just wrapped up a new funding round that saw it attract $15 million from individuals like Jim Murren and Joe Banner.

Simplebet uses AI and machine learning to allow operators to offer fast-paced betting solutions with quick odds. It also enables the creation of micro-markets, and Simplebet is already partnered with both FanDuel and Intralot. The micro-market segment, which Simplebet offers through its Scripts product, paves the way for greater access to in-play wagers in all types of sports events.

Chris Bevilacqua, the co-founder and CEO of Simplebet, explained to CNBC that the money will be used to push out Scripts, as well as to support the company’s infrastructure. He said of the new offering, “It goes beyond drives and plays but expands into correlated bets. So you can bet not only on the next play, but if the next play will result in a touchdown from a pass on the third play of the drive.”

Murren, the former CEO of MGM Resorts International and Banner, who led several NFL teams as either a CEO or president, are two of Simplebet’s backers who expect a larger sports gambling industry in the US. Analysts have predicted that the market will be worth as much as $8 billion within four years, and AI technology is going to be a big part of that success.