Simplebet and ClutchBet are joining forces to bring a unique betting experience to Iowa. The deal will give Iowans access to Simplebet’s micro-betting options across several popular sports.
The partnership not only sets the stage for micro-betting in the market, it could make micro-betting a more common feature on other operators’ platforms In Iowa.
The deal is only for ClutchBet players in Iowa and Colorado right now.
ClutchBet looks to expand growth in Iowa with partnership
There are 19 Iowa online sports betting operators serving Iowans presently. With ClutchBet and Simplebet joining forces in Iowa, it gives the state’s expanding gambling market another avenue for growth.
ClutchBet is currently one of the smaller sportsbooks in Iowa. So far in fiscal year 2023, just $2.5 million has been wagered on its platform, accumulating $210,000 in net revenue. For reference, the state’s top three operators in net revenue have each exceeded the $24 million mark.
With implementation of Simplebet’s products on its platform, it’s possible ClutchBet’s share of the market expands.
Jake Francis, senior vice president of operations for ClutchBet, says the deal continues ClutchBet’s quest to offer a top-of-the-line sports betting experience to customers:
“ClutchBet is committed to delivering the most innovative betting experience, and we’re excited to offer ClutchBet players in Iowa and Colorado the opportunity to more deeply engage with their favorite teams and players both locally and worldwide.”
The deal comes days after Simplebet reached a partnership agreement with Hard Rock Digital.
What is micro-betting?
Micro-betting is a style of betting coming from several scenarios and other opportunities that may present themselves during a sporting event. Users will be presented with constant betting opportunities during an event to foster more engagement between the user and their favorite players and teams.
Examples of micro bets could include betting on which team will score the next touchdown, if a player gets on base at their next at-bat or which player will hit the next three-point shot.
There are thousands of different micro bets a user can engage with during any event.
Simplebet is all-in on micro-betting
Founded in April 2018, Simplebet is a business-to-business company that uses machine learning to create betting opportunities for sportsbook operators and their platforms in real time. Its goal is to make “every moment of a sporting event a betting opportunity.”
According to Simplebet, micro-betting is the future of sports gambling, giving bettors an alternative to the traditional markets of game outcomes and point spreads. With its technology, markets are created, suspended, resulted and repriced in real time by a fully-automated process.
For example, in any given NBA game, there is an average of 603 betting markets created, according to the company’s site. That means there’s a potential for over 29,000 markets per week – or 741,690 in an entire season. Simplebet’s algorithmic process allows operators to have control over the margin while giving bettors a myriad of ways to play.
Players can place bets on several sports through ClutchBet
ClutchBet is a mobile-first, US-based sportsbook brand of Australian company BlueBet, which was founded in 2015. ClutchBet is the company’s first venture into the US market. It launched in Iowa in September 2022.
The operator released ClutchClash, a head-to-head player parlay feature, in November 2022. The feature is a world-first product exclusive to Iowa. It allows players to build head-to-head player parlays for the NFL and NBA markets.
ClutchBet offers betting opportunities for the following sports:
- UEFA Champions League
Currently, ClutchBet is only available in Colorado and Iowa.