Global Betting Provider Esports Technologies Partners with Colossus Bets in a Patent License Agreement

Esports betting has reached every corner of the world through the joint efforts of various global online gaming operators. Sports betting has a lot of untapped potential that could open doors for several tech and gaming companies in the future. But presently, the industry requires proper licensing and relief from regulatory concerns to grow even further in countries where online sports betting is restricted such as some parts of the U.S., New Zealand, UAE, etc.

Details of the Agreement between ET and Colossus Bets

Two betting giants, eSports Technologies (ET) and Colossus Bets that operate global sports jackpots have signed an exclusive agreement that would enhance the former’s customers to experience a better cash-out when they take part in eSports betting. Colossus Bets owns an impressive patent portfolio some of which ET can now utilise as part of their newest agreement. It is worth noting that these patents are specifically associated with the cash-out capabilities of an application.

The aim of this deal between two renowned companies related to the online betting world is to bring more new customers to participate in esports betting using the new and improved platform of Esports Technologies. For years, Colossus Bets, eSports Technologies’ newest partner has collected a considerable number of patents from different countries one of them being the U.S. Some more patents and licenses in its portfolio are authorised by countries such as Australia, Japan, Nigeria, and also Singapore. These countries have an encouraging atmosphere where Esports Technologies could extend its operations and application to attract new customers who wish to try their luck on online betting games provided in the form of sports jackpots and many other titles. Colossus Bets already has a hold over a growing number of players in more than 100 countries and its former partners are renowned betting providers such as bet365 and Betway Africa. As a result, both of these partner companies would grow together in this field.

An Expert Take on the Future of Partnership

Superiors of both of the companies are adamant that the new exclusive alliance between Esports Technologies and Colossus Bets is going to be profitable for both sides after they develop the best-in-class cash-out technology available in the industry. The Chief Operating Officer, Bart Barden has stated that the new cash-out technology developed through the partnership would be available in a single platform in free-to-play and real money format mode.

Since the patents held by Colossus Bets also includes IP protection and customisation attributes, these would come in handy specifically for the expansion in the B2B ventures located in the North of America that focuses on data, technology, and product.

Chief Operating Officer of Colossus Bets Eva Karagianni-Goel shown a similarly positive outlook towards the completion of the deal with Esports Technologies that recently got listed on NASDAQ. Karagianni-Goel believes that the joint efforts of these two companies would build an advanced and better experience for bettors in the near future.

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