Esports

Esports Technologies files patent for a performance-based betting system

Esports Technologies, an esports wagering product and technology provider has announced a new patent application for a “financial instrument performance-based pari-mutuel betting system and method.” This system specifies the implementation of an electronic betting experience using a performance-based setting over a specified period. It allows people to place bets on which participant from a pool of financial instruments will earn the largest or the smallest drop in winnings. Esports betting can also be implemented with Asian Happy Luke sites, with bets allowed to be placed through the system until a specified time limit.

All bets will be placed in a pari-mutuel pool, with new odds calculated based on the size of each bet involved. Winnings are distributed based on where you finish in the pool.

Bart Barden, COO of Esports Technologies, stated: “This concept for pari-mutuel betting on price fluctuations in financial instruments and other assets creates an exciting new wagering experience. This technology would provide fast-paced action and strong engagement among bettors.”

Esports Technologies already has a portfolio of intellectual property developed over the last year, and it operates online sportsbook and casino brands. A patent was filed in June 2021 for a proprietary live streaming technology that layers sports and esports wagers across multiple streaming platforms such as Twitch, Facebook Gaming, and Hulu.

Esports Technologies also filed a patent application in August 2021 for a technological method of generating odds that employs artificial intelligence. Following the filing of its patent application for an AI-driven odds generation technological solution, used in a betting algorithm for esports tournaments in August 2021, the move represents an expansion of the Nasdaq-listed company’s intellectual property portfolio.

Aside from its established esports markets, the Nasdaq-listed operator claims that its new system can be applied to “any group of items that have a price index or other numerical vertical that fluctuates over time.”

Despite being a US-based company, Esports consolidated its position in the European betting and esports space last year after obtaining a UK Gambling Commission (UKGC) license in December as part of an operator services agreement.

After acquiring Aspire Global’s B2C operations for $76 million (€68 million), the company expanded its brand portfolio to include UK-focused online sports betting and casino brands Karamba, Hopa, and Griffon Casino, as well as continental European operators BetTarget, Dansk777, and GenerationVIP.

Concerning Esports Technologies

Esports Technologies creates award-winning, innovative, and engaging wagering products worldwide for esports fans and bettors. The company is committed to providing better odds and technological solutions to the Millennial and Gen-Z demographics. It has a growing intellectual property portfolio, with patents pending on odds modeling simulation, an electronic sports betting exchange system, live streaming odds integration, and improving modeling probabilities in multi-player games.

Esports Technologies owns and operates the online sportsbook and casino brands Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, GenerationVIP, and Gogawi, which have over 1.25 million deposited customers in over 15 countries. Esports Technologies was recently named SIGMA’s Esport Product of the Year, and its brand Karamba was named SBC’s Innovation in Casino & Gaming Entertainment. Esports Technologies is a Nasdaq-listed company that trades under the symbol EBET.