The company announced it has filed a patent application for an artificial intelligence technology designed to generate odds models for use in a betting algorithm for esports tournaments.
AI System Generates Odd Models for Esports Betting Algorithm
Esports Technologies has filed an interim patent application for an artificial intelligence (AI) system designed to generate odds models for an esports betting algorithm, the company announced on August 19. The newly created technology is designed to immediately generates odds through machine learning and advanced quantitative methods.
The odds will cover any number of esports matches and will enable bettors to place proposition bets in different stages of matches or tournaments, and across different betting markets, Esports Technologies said in a press release.
Furthermore, wagers could use the system to place bets on teams throughout a tournament and during the games. Betting on the top three teams or those placing outside the top five, as well as what round the team will make it to, are only some of the options that will be available to fans.
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.”Bart Barden, COO, Esports Technologies
The creation of the AI-powered platform seeks to take advantage of the extraordinary rise in the consumption of live streaming content from 1.97 trillion hours watched in 2019 to 3.93 trillion in 2020. Of this number, live-streaming of gaming content accounts for 27 billion hours of esports watched across Twitch, YouTube Gaming and Facebook Gaming in 2020.
Esports Technologies Creates Live Streaming Esports Wagering Technology
This system comes two months after Esports Technologies filed another patent request for a proprietary live streaming technology that integrates sports and esports wagering across streaming platforms, such as Twitch, YouTube, Facebook Gaming and Hulu.
When the company filed the patent in June, its CEO Aaron Speech said that the technology reflects the evolvement of sports betting. Speech added that the new development will allow bettors to access everything they need right in the browser without ever leaving their streaming platform.