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Esports Technologies files financial instrument betting patent

| By Marese O'Hagan
Sports wagering product provider Esports Technologies has filed a patent for its new betting system, which will allow players to place wagers on price increases and decreases on groups of financial instruments.

Players will be able to bet on how participants in a number of financial instruments perform over a period of time – such as which participant will experience the largest or smallest change in price.

The system will then place all wagers in a pari-mutuel pool, and calculate odds based on the sizes of the bets. Winning players will then receive payouts from the pari-mutuel pool.

The supplier noted that the technology could also be used for bets on other items with a price or numerical value that changes over time.

“This concept for pari-mutuel betting on price fluctuations in financial instruments and other assets creates an exciting new wagering experience,” said Bart Barden, chief operating officer of Esports Technologies.

“This technology would deliver fast-paced action and drive strong engagement among bettors.”

Last month, Esports Technologies secured a GB licence following its deal to acquire Aspire’s B2C assets for $75.9m (£56.1m/€65.5m).

In November, Esports Technologies filed a patent for a private esports betting model. The supplier said the model, wherein players can subscribe to certain betting markets, allows operators and bettors to experience optimal pricing and liquidity regardless of bet size.

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