Esports Technologies has filed a provisional patent application for an artificial intelligence-powered real-time odds modeling and simulation system, announced the company August 19.
The provider of esports wagering products and technology has developed a system that will be able to simulate esports tournaments of different types and develop an odds model for use in a betting algorithm.
The system uses machine learning and advanced quantitative methods to generate odds instantly for any number of esports match and tournament types, describes the company in a press statement, 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. On the importance of this new system, 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.”
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, further explains the company in the press release.
“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,” added Barden.
The company, which also operates licensed online gambling platform Gogawi.com, plans to further “advance and innovate” the esports wagering experience for its customers.
This technology marks the latest addition to its portfolio of wagering offerings, following a June filed patent covering a proprietary live streaming technology that integrates sports and esports wagering across 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.
Upon the filing of the patent, CEO of Esports Technologies Aaron Speech said in June: “How we watch and bet on sports has changed and this patent-pending technology is the next step. Our technology will allow bettors to stay in the zone, accessing everything they need right in the browser without ever leaving their streaming environment.”