From Stockhouse & PRNewswire:
Esports Technologies, Inc. (Nasdaq: EBET), a leading global provider of advanced esports wagering products and technologies, announced today that it has filed a new patent application covering a modeling system for multiplayer battle games. The system would use a modified statistical distribution for modeling possible outcomes in battle games involving multiple players and teams.
The systems and methods described in Esports Technologies’ patent application detail the use of this statistical tool to represent the exact score distribution of kills in multiplayer online battle arenas (MOBAs). Applying this discrete probability distribution to an esports event enhances the modeling of probabilities within the event. By delivering more precise gaming odds, the technology could be a contributor in driving engagement with esports bettors.
Bart Barden, COO, Esports Technologies, said, “Data analytics is a key competitive differentiator for our company. Esports Technologies’ dedicated quantitative analysis team has found what it believes to be a novel way to extract maximum value from the data that is constantly being generated in MOBA games. This patent could significantly elevate the state of the art in esports wagering.”
This filing represents the latest addition to Esports Technologies’ portfolio of intellectual property. In August 2021, the company 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. For this groundbreaking use of technology, Esports Technologies was selected as a finalist in the 2021 Tempest Esports Business Awards.
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 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.
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