Sony Publishes Patent For Bitcoin-Supported Esports Betting Platform

Sony Interactive Entertainment, the video game and digital entertainment company of Sony Group, has published its patent application for an eSports betting platform that will support Bitcoin payments.

Sony to Support Bitcoin in New Betting Platform

The patent was published this month, although it was initially filed by the entertainment firm in 2019, according to the report by IGN. The information on the patent states that the company is considering developing a betting service for livestream eSports events. The platform will basically enable viewers to bet on live streaming events like fighting game tournaments. 

In the patent, the company mentioned Bitcoin (BTC) as one of the options (wager) through which viewers can place or earn from a bet. 

Wagers may be pecuniary, e.g., money or bitcoin, or maybe non-pecuniary, e.g., game assets, digital rights, and virtual currency. 

US20210142624 E-Sports Betting Platform patent

The platform will be powered by a machine learning algorithm that can be used to learn correct odds based on a training set from past proposition bets. This algorithm will equally help identify essential events in the simulation for better proposition bets. 

Once the proposition bets are defined, the odds for those bets are established either by a human or by an algorithm accessing the game analytic data of some or all of the simulation participants.

US20210142624 E-Sports Betting Platform patent

Gaming Companies Are Embracing Crypto

It remains unknown when the proposed eSports betting service will be launched. However, it looks like a company’s effort to onboard more fans into the esports community.

The world of cryptocurrency and gaming is getting closer and stronger as more firms continue to support and integrate digital currency in their services.

Having a broader look at the sports industry, some clubs started rewarding players in crypto and issuing their own tokens, some of which have recently scored tremendous growth in price.

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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