Colossus Bets partners with Esports Technologies in patent license agreement

Posted on May 24, 2021

Global betting product provider Esports Technologies announced a new partnership with global sports jackpot operator Colossus Bets. While that may sound like a bit of a mouthful, it just describes an exclusive agreement between the two betting giants that grants ET permission to use some of Colossus’ patent portfolio. Specifically, the portion related to cash-out applications.

The idea is to allow Esports Technologies to up its game for its cash-out customers that want to take part in esports betting. In total, over a dozen US patents, as well as several others from countries like Japan, Australia, SK, Singapore, and Nigeria will be licensed to Esports Technologies from now on.

A fortuitous partnership

COO of ET, Bart Barden, said:

“We believe our alliance with Colossus will herald the arrival of industry-leading cash-out technology, both in free-to-play and real money formats in one platform, helping us grow to become a broader ‘best in class’ esports offering. The exclusive patent license bolsters our offerings with strong IP protection and customization, resulting in a potent package that spans across data, technology, and product, particularly in the context of our North American Business-to-Business ambitions. We look forward to our continuing alliance with Colossus to provide our customers with the best possible experiences on our platforms.”

In other words, they want to focus especially on their North American services and improve their esports betting offerings there. On the other side of this deal, Colossus COO Eva Karagianni-Goel explained that they were especially looking forward to being able to expand their own services into the realm of esports.

“We are excited to join forces with Esports Technologies to unlock the value of our patents for esports audiences. Their IP-led approach mirrors ours and presents us with an exciting opportunity to marry our know-how with what is probably the most forward-looking content area, esports. By marrying our two technologies we believe we are able to create truly best-in-class experiences for bettors, and we look forward to our continued alliance.”, said Karagianni-Goel.

Advancing together

It’s a strategically good time for this move – very recently, Esports Technology was listed on NASDAQ, after all. They are also building on their Asia-Pacific portfolio, where they own and operate the Gogawi betting platform. Only recently having launched in Japan and Thailand, they’ve already added some pretty interesting esports titles to their lineup – including games like Dota 2, Counter-Strike, League of Legends, and Call of Duty. Colossus Bets, on the other hand, has already reached players in over 100 countries with its sports betting offer and is partnered with other betting providers like bet365 and Betway Africa.

Esports Technologies, is, unsurprisingly, focused more on esports than sports betting. They offer real money bets on esports events, such as Dota 2 odds, or League of Legends betting opportunities. They do also cover some pro sports tournaments as well but focus more on their development of esports predictive gaming than traditional sports content.

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At EsportsBets.com we are a group of independent journalists with one big passion: Esports. We've been following the industry and have contributed to its growth since 2015.

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