Global entertainment giant, Sony filed a patent for an esports betting platform last week. The platform allows viewers of “computer simulation” devices to access odds and place wagers. It is yet to be confirmed if the betting platform will be available for PlayStation 5.
Sony May Be Looking to Join the Growing Esports Betting Market
Sony Interactive Entertainment filed a patent last week for an esports betting platform. Although the company has not disclosed any official details, a recent article by Game Rant suggests that the patent may bring gambling on esports to PlayStation 5. According to the patent filing the “E-Sports Betting Platform” would enable viewers of “computer simulation” devices to be presented wagers. Furthermore, the viewers would be able to see the odds. Those odds may be determined by the esports betting platform through analysis of past games. Additionally, pari-mutuel odds may also be available.
Besides odds, viewers would have the ability to wager. Once a viewer places a successful wager, they would be given the option to collect their winnings. Alternatively, instead of cashing out, viewers would have the ability to “double down”. In other words, the proposed platform may provide viewers with dedicated betting functionality.
Currently, multiple esports titles are already available on PlayStation such as Tekken 7, Call of Duty Warzone, and more. Now, if Sony would consider entering into the esports wagering market, this move is not unexpected. A prime reason for that is the continuously growing esports betting market.
According to a recent study, published by MarketWatch, the esports betting market is expected to grow significantly. The study predicted that starting from 2020 the market will grow approximately 13% to $1.3 billion in 2025. This is significant growth from the $0.8 billion estimated in 2019.