Legalized Online eSports Betting Generating Impressive New Source Of Revenues For Gaming Companies

 "With such a large viewing audience, it was only a matter of time before betting sites got involved. While traditional bookmakers were understandably skeptical about the rise of esports, there has now been a wave of fully licensed esports betting sites that now give people an easy way to bet on massive games. Such a large number of esports betting sites have helped many people enjoy a legal and safe way to bet on competitive gaming as a form of entertainment.  In fact, recent reports have stated that the global esports betting market size is expected to grow through 2025 with a CAGR of 13.1 percent. An article in Ark-Invest said: "Legalized online sports betting is presenting sport book operators and sports leagues with an opportunity not only to offer exciting interactive online experiences but also to capitalize on a highly efficient fan demand curve and generate new sources of revenues." Active gaming and tech companies in the markets today include:  Esports Technologies (NASDAQ: EBET), International Game Technology PLC (NYSE: IGT), Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX) (TSX: EGLX), Elys Game Technology, Corp. (NASDAQ: ELYS), Skilz (NYSE: SKLZ).

A MarketInsight report added: "Some early incarnations of esports were fairly amateurish affairs. In some instances, this led to match-fixing in games like Counter-Strike. Thankfully, such examples are becoming increasingly rare, and there has been the development of regulatory bodies like the Esports Integrity Commission to oversee the standards of competitive gaming.  Plus, the fact that esports betting sites only accept real money bets rather than permitting skin gambling has helped the activity enjoy more legitimacy. Skin betting blighted esports betting for many years as it was commonly linked with underage gambling. But with the widespread use of licensed real money betting sites offering esports odds, it is hoped that skin gambling will soon become a thing of the past," explained in the article.

Esports Technologies (NASDAQ: EBET) – BREAKING NEWS - Esports Technologies Files Patent for Artificial Intelligence-Powered Real-Time Odds Modeling & Simulation System - System Will Be Able to Simulate Tournaments of Different Types and Develop an Odds Model for Use in a Betting Algorithm - Esports Technologies, a leading global provider of advanced esports wagering products and technology, announced today that it has 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.

The system uses machine learning and advanced quantitative methods to generate odds instantly for any number of esports match and tournament types, as well as for different stages of the match or tournament for proposition bets, and a variety of betting markets. The filing contemplates a system where bettors can wager on teams throughout a tournament and while games are being played. Examples of bets that could be made with this technology include which team will place in the top three, or outside the top five, or what round the team will make it to.

Bart Barden, COO, Esports Technologies, said, "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."

This technology is the latest addition to Esports Technologies' portfolio of advanced wagering offerings. 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.  CONTINUED…   READ THIS AND MORE NEWS FOR EBET BY VISITING:  https://esportstechnologies.com/news/