Sony has garnered a vast share of the video gaming market. But the PlayStation people aren’t standing idly by as the gambling industry gains steam. Last month, Sony published patent plans for an eSports betting platform that will allow gamers and followers to wager on video game outcomes.
The patent was filed in 2019 but announced in mid-May of this year. The patent indicates that Sony is at least paying attention to the growth of eSports and online gambling.
- Sony publishes a patent for an eSports gambling platform.
- The plan calls for allowing gaming fans to bet on major competitions.
- Bettors may wager real money or other virtual items.
Sony’s Gambling Patent
If approved and employed, the new system would allow anyone with a PS5 to place proposition bets, futures wagers, in-game bets, and wagers on outcomes of the ever-popular gaming tournaments.
Sony’s Move on the Sports Betting Industry
The move seems to be a furtherance of a plan by Sony to make a mark on eSports. The company recently acquired the Evolution Fighting Game Championships, a virtual-fighting battle royale that is the most popular in its realm.
And this patent signifies Sony’s interest in gaining a foothold in online gambling’s potential by establishing a niche in the industry. Not many sportsbooks currently offer eSports wagering, so Sony’s console-based wagering on eSports events would give the company an edge in a largely untapped market.
What Type of Betting Platform Does Sony Plan to Develop?
The technical details of the patent are vague. But the platform would put all sorts of eSports gambling options in the hands of gamers who are followers of competitions.
Bettors would be able to wager on outcomes in most currencies, including cryptocurrency. For players who don’t gamble real money, there will be the option of playing for stakes in the form of game assets, digital rights, and other non-monetary rewards.
People could bet on the outcome of a tournament, a match, or even things that occur in an event. For instance, a bettor may find in-game odds on how many characters a grenade would take out in a run-and-shoot battle game.
Algorithms would determine odds relying on past results. A parimutuel betting system, the same wagering-pool system that horse racing tracks use, determined the payouts.
The Rise in eSports and Online Gambling
ESports competitions have grown substantially in popularity in recent years. In addition, the online gambling industry has taken advantage of law changes in more than a dozen US states to experience a growth spurt.
The pandemic undoubtedly helped this growth during the past year. But the homebound players who have grasped internet gaming during that time have created an undeniable juggernaut.
The Sony patent reflects the company’s recognition of that growth and its willingness to seize an opportunity. Having Sony in the game is a massive step in the online gambling movement. It not only acknowledges the acceptance of gambling in culture but puts a new tool in the hands of millions of gamers.
Sony’s Bet on the Online Gambling Industry
Sony may never implement the patent. But the company is claiming space in an industry segment that has been tried before – the Valve video game developer has a similar gambling platform that has experienced mixed results.
Sony, as the owner of PlayStation, would have much more control of the entire field. Moreover, if the Sony platform does come to fruition and demonstrates success, the company could branch out into other forms of online wagering, like online casinos.