- Sony has filed a patent that could allow the company to introduce esports betting on live events on its platforms
- The company does not seem interested to act immediately on the patent, but it has the opportunity to offer odds, analyses, and more
- Esports betting is a sensitive topic as the video gaming ecosystem attracts a lot of underage individuals
Esports betting technology is coming to Sony’s platforms as the company has filed a patent that would allow it to introduce live wagers for esports events.
Live Betting May Soon Be Part of Sony’s Ecosystem
Sony is diving into another interesting trend with the company filing a patent to coin a technology that allows customers to place wagers on live esports events. Known as in-play betting, this is the first time a major game and console developer has openly flirted with esports gambling.
The patent was filed on May 13 by the parent entity, Sony Interactive Entertainment, but only reported on earlier this week. The “E-Sports Betting Platform” would supposedly give PlayStation subs the opportunity to place an in-play bet as live betting is known in gambling vernacular, when and if put in practice.
Sony seems to want and bring live odds directly into live streams, emulating an experience more akin to traditional sports broadcasts. There could be an analysis of both pre-and post-game to educate the people placing wagers on what they need to know.
Moving into the esports gambling space comes at a time when companies such as Luckbox and Rivalry have decided to branch off to traditional sports even though they started as exclusively esports betting platforms only.
The patent covers any esports event delivered via satellite or cable, and PlayStation 5 may be the first platform by the manufacturer that the feature is available for. Odds in live markets fluctuate rapidly, exposing consumers to what is one of the most captivating betting formats, but also one that takes a fair degree of skill and understanding to navigate properly.
Building a Tailored Gambling Product for Esports
Sony seems to want and create an automated and tailored ecosystem that will provide consumers with a personalized approach to bonusing and other features that are based entirely on each individual account’s history. There would be a “Cash out” feature available in professional sports competitions where you can withdraw a bet in mid-time in a bid to save losses or, conversely, double down if you feel that you have underestimated the original value of the wager.
Naturally, there are many questions that come hand-in-hand with the patent and how Sony is going to handle and implement a gambling system for esports events as there are many underage individuals exposed to possible harmful practices.
Most recently, the debate around loot boxes has intensified. Governments and researchers have condemned loot boxes as a form of gambling that has been allowed to thrive unchecked by regulators.
Sony is not likely to act on a whim, and whatever foray it decides to drive into the esports gambling ecosystem will be weighed against the upsides and downsides of such a decision. Esports gambling is still developing industry with no clear estimates as to how much revenue it’s able to generate.
The fact that esports is so readily available to many underage individuals is another red flag, albeit this shouldn’t be an issue for Sony, which is adamant in enforcing age restrictions. However, the gaming giant is not likely to rush into this.