The power of simulations, and perhaps more tellingly the algorithms that power them, have long been known. Everything from Formula 1 teams to slot game developers uses simulators as part of their development.
Now though, Esports Technologies have filed a patent for an exciting new Artificial Intelligence-powered odds modeling and simulation, which can work using real-time data.
This new breakthrough could be one of the most important milestones in recent esports betting history and could well change not only the types of bets that we can make when betting on esports, but it could also alter the ways in which betting odds are calculated throughout the industry.
It is the latest innovative development to come from Esports Technologies as in June 2021, the company patented a new live streaming technology that can integrate sports and esports wagering across many of the most popular streaming services, such as Twitch, Hulu, YouTube, and Facebook Gaming.
How does the AI-Powered System Work?
The algorithm used at the heart of the model uses both machine learning (which is the AI part of the system) and quantitative methods to generate odds instantly across a wide range of different esports matches and even for entire esports tournaments.
Given that the algorithm is able to simulate how a tournament may turn out based on the data available and through machine learning, this means that the range of bets available on tournaments will likely increase. Generally, because there will be more options to bet at different stages of the tournament.
The aim of the system is to allow punters to be able to bet on teams throughout a tournament and also while their games are being played.
Popular props bets, which are a big hit in North America in particular, will also be available via this new technology, which means that punters will be able to bet on teams placing inside the top three, outside the top four or what stage of a tournament that a stated team will reach before they are eliminated.
If the successful results of trials can be replicated in the esports betting industry for real, then the potential for this technology to be rolled out across Esports Technology partners and services is huge as it could offer punters a myriad of new ways to bet on esports, and esports betting companies a more accurate and flexible way to calculate fair odds on markets that have either not been previously available, or have been difficult to formulate odds for.
“Next-Generation Wagering Tool”
Speaking about the new patent, Bart Barden, the COO of Esports Technologies commented:
“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.”