SPORTS BETTING
US – Adrenaline inks patent licensing deal with BetChill
By Lewis - 21 May 2021
Adrenaline, the intellectual property powered technology provider behind play-by-play betting game Football Genius, has announced a patent licensing agreement with Swedish-based BetChill AB.
The deal assists BetChill’s expansion of its U.S. distribution capabilities while also increasing Adrenaline’s play-by-pay portfolio into the sports betting market.
BetChill’s gaming portfolio includes products that bring the stock trading experience to sports betting and allows players to bet on the progression of the game based on real-time sports data.
Etibar Namazov, Founder of BetChill AB, commented: “We are delighted to collaborate with Adrenaline in a deal that will see our high-quality sports games, especially in key U.S. markets, added to their growing, diverse portfolio.”
With more than 100 patent families all relating to in-game betting under its umbrella Adrenaline looks to expand upon its proof of concept beyond Football Genius and the company’s CEO Casey Huke, said the deal with BetChill marks a new era for the company.
“We feel strongly that our patent family will shape the future of in-game betting,” he said. “BetChill has a similar vision of harnessing the huge potential and demand that will be created within the play-by-play betting sector and this partnership will create world class and industry leading technology to fuel that demand.”
Namazov said the combination of BetChill’s algorithm and AI technology already in use for sports betting will have a perfect partner in the patented technology that Adrenaline brings to the table.
BetChill combines the data from live sporting events with a visual platform of graphs that shows users how the teams are performing. Layering the Adrenaline technology on top of the platform will lay the foundation for bringing the product to in-game betting throughout the U.S.
The original Football Genius was built to be a predictive tool to give coaches information on their opponents based on a range of data including the game situation, player personnel, and the tendencies of the other coach. With their robust algorithms in place, Adrenaline adapted the technology with sports betting in mind.
Football Genius is built off a series of patented technology that enhances the product offering of in-play betting. The patents address not only placing bets during a game but also allow for betting on micro-markets within each play.
Adrenaline’s intellectual property portfolio also addresses a range of areas core to play-by-play betting such as helping solve latency issues, using artificial intelligence and machine learning to optimise odds, and increasing security to help eliminate fraud.
