Esports Technologies Announces Exclusive Patent License Agreement, New Alliance with Colossus Bets
Esports Technologies (Nasdaq: EBET) has formed an exclusive alliance with Colossus Bets, granting access to Colossus' extensive cash-out patent portfolio for esports applications. This agreement aims to enhance the cash-out user experience, incorporating features like leg-by-leg cash-out options in esports betting. The partnership aligns with Esports Technologies' strategy to advance its offerings and expand its North American presence. Key patents involved include U.S. Patent No. 8,602,884 and several others across various jurisdictions, reinforcing Esports Technologies' position in the esports wagering market.
- Exclusive license agreement enhances product offerings with advanced cash-out technology.
- Access to multiple patents strengthens intellectual property protection.
- Alliance supports expansion of services in the North American Market.
- None.
LAS VEGAS, May 20, 2021 /PRNewswire/ -- Esports Technologies, Inc. (Nasdaq: EBET), a global provider of advanced esports wagering products and technology, today announced an exclusive alliance with Colossus Bets, a global sports jackpot operator and provider.
The agreement grants Esports Technologies an exclusive license for the majority of Colossus' extensive cash-out patent portfolio for esports applications, enabling Esports Technologies to improve its cash-out user experience across all of its products thanks to Colossus' leg-by-leg cash-out options. The patents include:
- U.S. Patent No. 8,602,884
- U.S. Patent No. 8,734,241
- U.S. Patent No. 8,721,438
- U.S. Patent No. 8,721,439
- U.S. Patent No. 8,708,811
- U.S. Patent No. 9,117,341
- U.S. Patent No. 9,196,126
- U.S. Patent No. 9,275,516
- U.S. Patent No. 9,424,716
- U.S. Patent No. 9,704,338
- U.S. Patent No. 10,102,716
- U.S. Patent No. 10,431,044
- U.S. Patent No. 10,997,822
- Australian Patent No 2019201870
- Australian Patent No 2013311319
- Japanese Patent No. 5977454
- Japanese Patent No. 5977453
- Japanese Patent No. 6258941
- Japanese Patent No. 6526165
- South Korea Patent No. 10-1736754
- South Korea Patent No. 10-1726203
- Singapore Patent No. 11201501682Q
- Singapore Patent No. 10201510450T
- Philippines Patent No. 1-2015-500504
- South African Patent No. 2015/01552
- Nigerian Patent No. NG/PT/C/2015/952.
Bart Barden, Esports Technologies Chief Operating Officer, 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."
Eva Karagianni-Goel, Colossus Chief Operating Officer, said, "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."
The announcement comes on the heels of Esports Technologies' NASDAQ listing, and is in line with the company's stated strategy to "provide the most advanced product, platform and marketing solutions" for esports wagering, continuing to build on the Gogawi platform in the Asian-Pacific region.
About Esports Technologies
Esports Technologies ("Company") is developing groundbreaking and engaging wagering products for esports fans and bettors around the world. Esports Technologies is one of the leading global providers of esports product, platform and marketing solutions. The Company operates a licensed online gambling platform, gogawi.com, that offers real money betting on esports events and professional sports from around the world in a secure environment. The Company is developing esports predictive gaming technologies that allow distribution to both customers and business partners.
About Colossus Bets
Colossus Bets is a multi-award-winning operator and supplier of the largest sports betting pools globally, offering lottery-sized prize guarantees, leg-by-leg cash-out offers and the unique Syndicates 'crowdbetting' feature. Colossus Bets believes in making sports bigger by enabling sports fans to engage with the sports they love through life-changing jackpots and the most authentic social betting experience. Since its launch in 2013, Colossus Bets has distributed more than
CAUTIONARY STATEMENT CONCERNING FORWARD LOOKING STATEMENTS:
This press release contains forward-looking statements. Forward-looking statements in this press release include, without limitation, the company's ability to integrate the licensed technology into their products. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to grow the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
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SOURCE Esports Technologies, Inc.
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