Esports wagering products and technologies provider, Esports Technologies, has announced its latest patent application for a “financial instrument performance-based pari-mutuel betting system and method.”
The system sets out the implementation of an electronic betting experience using a performance-based setting over an allocated period of time. It allows bettors 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 are intellectual property enthusiasts, having previously filed patents covering a proprietary live streaming technology and also a technological method of generating odds using artificial intelligence. The company also operates online sportsbook and casino brands such as Karamba, Hopa, BetTarget and Griffon Casino.