Simplebet: Where the Odds are Ever in Your Favour
What we dwell on daily is undoubtedly what we ultimately become - at least, this was the case for Joey Levy.
Seeing his father immersed in his fantasy baseball games, Joey had no choice but to follow in his footsteps. For him, gaming was more than just playing - it was a lifestyle and the opportunity to build a fruitful career out of it.
To do that, Joey had to pour his blood, sweat, and tears into a project that will make the desired impact within the world of gaming. Willing to sacrifice his education to transform sports betting info into a more than fun experience, Joey created a mogul B2B product development company - Simplebet.
Simplebet strives to create winning opportunities for players who lucked out in betting right. With the platform, players can now bet on pretty much everything - goals scored in football, points won in basketball, and even potential baseball rosters - all done through predicting machine learning and real-time technology.
It Ran in the Family
Born in the early 90s, Joey Levy comes from a small town in Florida, called Plantation. His father was a fanatic fantasy baseball player who even attended Joey’s birth whilst actively making fantasy baseball bids.
Witnessing his father’s passion while growing up, Joey also showed an early affinity for the world of sports, especially the fantasy kind. Right before his tenth birthday, Joey began playing high-stake fantasy sports and learning the ropes of the game. As he was growing up, Joey applied his knowledge of sports in real life and ended up as one of the greatest athletes of his high school.
That is until his athletic career was ruined by a sports injury. As resilient as Joey had always been, he never felt sorry for this undesirable outcome and instead of dreading his potentially ruined sports career, he turned to another calling that suited him – academics.
During the remainder of his high school years, the young intellectual created a ‘pseudo’ tutoring company, which provided him with a steady income for a while. Eventually, Joey came to realize that his company was limited in its own way and therefore, wasn’t eligible for expansion. So, in 2013, Joey packed his bags and went on to study history at the University of Columbia in NYC.
During his sophomore year, Joey realized that there was not a single fantasy sports platform designed for every fan to have equal winning chances. Unfortunately, back then, only well-experienced players could earn from betting on daily tournaments and someone had to put an end to this trend. However, Joey couldn’t think of a solution all on his own, so he gathered up two computer engineering students, Jessica Vandebon and Josh Hughes, to develop a solution for the problem.
Somewhere, in-between their classes, the trio gave birth to an outstanding business plan - one that would soon take all three places!
The Dream Team
Gathering their forces, the dream team of three had what it took to build a beautiful and robust site, including rich computer engineering expertise, ambition, and a brilliant idea.
However, the moment they shared the idea amongst their closest friends and family, fierce discouragement followed. Everyone warned the trio to beware of competitive and reputational risks and listed countless business consequences that could lead them to bankruptcy. Despite everything, Joey, Jessica and Josh made a swift stride towards success and began their hunt for employees.
As they lacked funds to pay their potential employees, the team assembled nine of their university colleagues, and first presented the idea to them.
Despite lacking money, all nine candidates unanimously agreed to work on the project, some as business developers and others as data scientists. The moment the team finished building the website, Joey published it on his Reddit profile and explained the benefits of joining along - immediate payouts, welcome bonuses, and a winning chance for every player. Joey's post soon caught investors' attention, and in early 2015, the team warmly welcomed its seed round of a whopping $2.2 million to help with user acquisition.
Shortly after, Draftpot was launched. Although most entrepreneurs would probably use the money for luxurious offices and top-notch marketing, Joey, Jessica, and Josh decided to save up for rainy days.
Therefore, they rented a four-bedroom apartment near university grounds and instead of boasting new offices, Draftpot’s total of nine employees grew it organically. For Joey, it felt unproductive to continue studying whilst working on the project, so he decided to drop out during his third year, as did Josh.
When Boom Fantasy - a tech company connecting sports fans through numerous games - noticed the work done by these brainiacs, it snapped up Draftpot only a year after its launch and left its founders richer and readier to dive into yet another entrepreneurial dream.
Pioneering an Idea
A few weeks after selling his company shares, Joey got down to work at The Thiel Foundation, a company that gave gifted dropouts funds to create new business ventures. Working as a Thiel Fellow for over two years, Joey finally went back to his original idea and began contemplating another business prospect revolving around betting.
As the passion for sports still lingered in his mind, Joey had become even more determined in devising a plan which would simplify betting for good. When Joey noticed that the industry was in need of a whole new betting method, and one that generates the players’ betting odds, he began fixing the problem by designing a suited solution.
For that, Joey reached out to Scott Marshall, a person he had known only by reputation and as the co-founder of the leader in mobile app and cross-device retargeting, ActionX, and introduced him with the groundbreaking idea. Right before they initiated the project, Joey and Scott contacted distinguished sports, media, and tech investor, Chris Bevilacqua, to additionally help them conceptualize their goal.
Determined to focus on US sports only, for the time being, instead of offering users a traditional betting site, Joey and Scott wanted to give them the opportunity to bet on sports players as well. Surprisingly, no one had yet built that technology which then gave the pair the chance to pioneer it - and they did just that!
Although eager to build their company promptly, by early 2016, Joey and Scott still lacked the funds to get things going. That was the moment when Chris came to assist the duo, all thanks to his eminent name in the investing world. He wasted no time in raising a staggering $15 million for the company’s progress. Using the investment
wisely, the trio employed the best workers to focus on building a micro-market engine that would enable the fastest betting odds.
For the next two years, the trio, along with a small team of employees, worked on the technology around the clock. With their B2B product, they wanted to allow users to wager on quick odds, such as guessing a scoring player or a player that would make the catch. Working on the project with immense precision, the team launched Simplebet in 2018.
Ever since its breakthrough, the platform has relied on both automation and machine learning in creating the best betting opportunities for players worldwide.
Today, SimpleBet makes over $12 million in annual revenue. With its headquarters located in NYC, the company employs over eighty workers and plans to expand on an even greater scale.
As a pioneer in the betting industry and a reputable household name in the business, Simplebet is on a mission to empower, engage and encourage eager betters to join along for the exhilarating sports ride, bet big - and win even bigger!