System Will Be Able to Simulate Tournaments of Different Types and Develop an Odds Model for Use in a Betting Algorithm
LAS VEGAS, Aug. 19, 2021 /PRNewswire/ -- Esports Technologies, Inc. (Nasdaq: EBET), a leading global provider of advanced esports wagering products and technology, announced today that it has filed a provisional patent application for 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.
The system uses machine learning and advanced quantitative methods to generate odds instantly for any number of esports match and tournament types, as well as for different stages of the match or tournament for proposition bets, and a variety of betting markets. The filing contemplates a system where 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.
Bart Barden, COO, Esports Technologies, said, "I'm extremely proud of our quant and modeling team, which continues to develop potential industry-leading data solutions. Harnessing cutting-edge modeling and artificial intelligence to create the technology for this planned next-generation wagering tool demonstrates our commitment to innovation and our focus on the needs of esports enthusiasts and bettors everywhere. We continue to advance and innovate the esports wagering experience for customers."
This technology is the latest addition to Esports Technologies' portfolio of advanced wagering offerings. In June 2021, the company filed a patent covering a proprietary live streaming technology that integrates sports and esports wagering across many of the most popular streaming platforms, including Twitch, YouTube, Facebook Gaming, and Hulu, among others.
About Esports Technologies
Esports Technologies is developing groundbreaking and engaging wagering products for esports fans and bettors around the world. Esports Technologies is one of the leading global providers of esports product, platform and marketing solutions. The company operates a licensed online gambling platform, gogawi.com, that offers real money betting on esports events and professional sports from around the world in a secure environment. The company is developing esports predictive gaming technologies that allow distribution to both customers and business partners.
For more information, visit: https://esportstechnologies.com.
Forward-Looking Statements: This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which statements involve risks and uncertainties. These statements include, without limitation, whether the patent will be issued and the ability of the Company to create new wagering tools around these patents. These statements relate to future events, future expectations, plans and prospects. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, actual results or outcomes may prove to be materially different from the expectations expressed or implied by such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed in the Company's filings with the Securities and Exchange Commission, including as set forth in the "Risk Factors" section of the Company's final prospectus, which was filed with the Securities and Exchange Commission on April 16, 2021, as updated by the Company's subsequent Quarterly Reports on Form 10-Q. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.
SOURCE Esports Technologies, Inc.