Esports Technologies files patent for new esports betting exchange system

Esports Technologies has filed a patent for a new electronic sports betting exchange system, the company announced on Monday. The solution looks to provide operators and high-volume bettors with improved liquidity matching and pricing.

According to the provider of esports wagering products and technologies, the new patent application covers various embodiments of the novel esports betting exchange system. The patent describes a private betting exchange model in an esports betting environment where large bet sizes do not impact market prices.

The systems and methods described in the application relate to users' ability to subscribe to certain betting markets, such as esports games, teams, players, and the like, and be grouped into larger order blocks. This leads to “better liquidity matching and enhanced pricing” for electronic gaming platforms, explains the company in a press statement.

"The private exchange described in this patent application could substantially elevate the esports wagering experience for high-volume bettors and traders,” said Bart Barden, COO at Esports Technologies. “Our team will continue to refine the technology so that we can deliver the most engaging esports betting exchange platform."

The technology provides “an exciting new way” to participate in esports betting, said the company. The filing represents the latest addition to its portfolio of advanced wagering offerings, following a provisional patent application filed in August 2021.

Said application corresponds to a technology that uses artificial intelligence to generate odds models for use in a betting algorithm for esports tournaments and various stages of a tournament.

By employing advanced quantitative methods, the system generates odds instantly for any number of esports match and tournament types. Bettors can wager on teams throughout a tournament and while games are being played. Examples of bets that could be made with this technology include which team will place in the top three or outside the top five, or what round the team will make it to.

And earlier this year, in June, the company filed a patent covering a proprietary live streaming technology that integrates sports and esports wagering across many streaming platforms, including Twitch, YouTube, Facebook Gaming, and Hulu, among others.

Said technology was developed as a response to the explosive growth seen by live streaming, rising from 1.97 trillion hours watched in 2019 to 3.93 trillion in 2020. Live-streaming of gaming content also saw a rise, with an accumulated 27 billion hours of esports watched across Twitch, YouTube Gaming and Facebook Gaming in 2020.