This system sets out the implementation of an electronic betting experience using a performance-based setting over an allocated period of time. It allows for people to place bets where the participant from a pool of financial instruments will earn the largest gain or smallest drop in winnings, with bets allowed to be placed through the system until a designated set end-time.
The system will place all wagers in a pari-mutuel pool, calculating new odds based on the size of each bet involved. Winnings are paid out based on finishing positions within the pool.
Bart Barden, COO of Esports Technologies, said: "This concept for pari-mutuel betting on price fluctuations in financial instruments and other assets creates an exciting new wagering experience. This technology would deliver fast-paced action and drive strong engagement among bettors."
Esports Technologies already offers a portfolio of intellectual property that has been developed over the last year; it operates online sportsbook and casino brands such as Karamba, Hopa, BetTarget and Griffon Casino. In June 2021, a patent was filed that covers a proprietary live streaming technology; layering sports and esports wagers across many streaming platforms such as Twitch, Facebook Gaming, and Hulu.
In August 2021, Esports Technologies also filed a patent application for a technological method of generating odds that uses artificial intelligence.
