• Loading stock data...
Tuesday, October 7, 2025

DraftKings Acquires Simplebet After Shedding Other Assets

  • DraftKings is facing two major lawsuits over its recently closed NFT marketplace.
  • The company also sold VSiN back to Musburger Media.
DraftKings
Joe Camporeale-USA TODAY Sports

DraftKings is trying to regain its momentum after a tough summer. 

On Wednesday, the sports gambling giant agreed to acquire Simplebet, a company that specializes in live-event wagers. The deal is supposed to facilitate gambling for customers, and DraftKings said in a statement it will integrate Simplebet’s systems into its own. 

“Live betting represents an area for potential growth for online sports betting, and the proposed acquisition would allow DraftKings to leverage Simplebet’s proprietary technology to create an in-play wagering experience that moves at the speed of sports,” said Corey Gottlieb, DraftKings’ chief product officer. 

Simplebet was founded in 2018 and provides microbetting information on major U.S. sports leagues. The microbetting market is growing in popularity, and DraftKings hopes to improve speed and quality of in-game wagers.

The announcement comes amid a week in which the NFLPA sued DraftKings for breach of contract, alleging the company didn’t follow through on a $65 million deal. DraftKings closed down its NFT marketplace in July “due to recent legal developments.” The prior week, the company sold VSiN, a gambling content channel, back to Musburger Media after buying it for $70 million in 2021. DraftKings is also facing a class action lawsuit  in a Massachusetts court from NFT buyers alleging its NFT marketplace violated securities laws. The judge denied the company’s motion to dismiss the case. 

DraftKings also canceled a gambling surcharge in high-tax states after rival FanDuel said it didn’t plan to do so. FanDuel recently beat analysts’ expectations in its earnings call and has been riding high, while DraftKings sheds assets and combats lawsuits.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Dec 2, 2022; Las Vegas, NV, USA; Southern California Trojans former quarterbacks Mark Sanchez (left) and Matt Leinart watch from the sidelines during the Pac-12 Championship game against the Utah Utes at Allegiant Stadium.

Mark Sanchez, Fox Sports Sued Over Alley Fight That Turned Bloody

The high-profile incident took place Saturday night in Indianapolis.
Sep 27, 2025; University Park, Pennsylvania, USA; Penn State Nittany Lions head coach James Franklin reacts during the fourth quarter against the Oregon Ducks at Beaver Stadium.

Penn State Has a $50 Million James Franklin Problem

Franklin’s team lost to unranked UCLA on Saturday despite being heavy favorites.
Ballers in Philadelphia
exclusive

Backer of SlamBall, Ballers Armed With $150M for New Fund

The fund will offer sports and entertainment companies deals that don’t involve equity.

Featured Today

Paul Cartier

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.
October 4, 2025

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.
Kōloa Rum Company Rum Rusher
September 27, 2025

Panthers Bubbly, Jets Wine, Manning Whiskey: The Sports Booze Boom

A sommelier dives into the sports booze trend—and tries Jets wine.
Nov 17, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers fans wave Terrible Towels against the Baltimore Ravens during the fourth quarter at Acrisure Stadium
September 26, 2025

Steelers’ Irish Roots Are Deeper Than NFL Dublin Game

The Steelers have history and the foundation for a future in Ireland.
Sep 18, 2025; Orchard Park, New York, USA; Buffalo Bills quarterback Josh Allen (17) runs the ball against the Miami Dolphins in the second half at Highmark Stadium.
exclusive

Kalshi, Polymarket Sought to Buy Prediction-Market Platform Novig

Novig is available in close to 40 states.
Sep 8, 2025; Chicago, Illinois, USA; Chicago Bears quarterback Caleb Williams (18) rushes the ball past Minnesota Vikings safety Theo Jackson (26) during the second half at Soldier Field.
exclusive
September 10, 2025

Americans See Little Difference Between Prediction Markets and Betting

A survey found 85% of respondents believe sports event contracts are gambling.
September 12, 2025

FanDuel, Jaguars Reach $5M Deal Over Employee Theft

A Jaguars employee stole $20 million and gambled much of it with FanDuel.
Sponsored

How Soccer Star Jozy Altidore Became a Buffalo Bills Owner

Jozy Altidore discusses building a business legacy off the field.
Sep 4, 2025; Philadelphia, Pennsylvania, USA; Philadelphia Eagles cornerback Adoree' Jackson (8) tackles Dallas Cowboys wide receiver CeeDee Lamb (88) during the third quarter of the game at Lincoln Financial Field.
September 5, 2025

Kalshi’s $27M NFL Opener Runs Into Tribal Challenge

California Tribes want Kalshi forced to implement geofencing.
Eagles
September 4, 2025

FanDuel Paying $80K for Eagles Trains Amid Transit Funding Fight

The gambling company is giving stopgap transit funding in Philadelphia.
Sep 1, 2025; Chapel Hill, North Carolina, USA; TCU Horned Frogs tight end DJ Rogers (0) catches a touchdown pass as North Carolina Tar Heels defensive back Kaleb Cost (21) defends in the fourth quarter at Kenan Stadium.
September 3, 2025

Polymarket Moves Closer to Reentering the U.S.

There’s yet more prediction markets momentum as the NFL season kicks off.
during the fourth quarter at Memorial Stadium in Clemson, S.C. Saturday, August 31, 2025.
September 2, 2025

Underdog Bets on Prediction Markets With Crypto.com Deal

Sports event contracts will be offered in 16 states.