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Sony files patent for a Bitcoin esports betting platform

Sony Entertainment has filed for a patent that would allow it to launch a platform that would accept Bitcoin (BTC) as a payment option for electronic sports betting

Sony Interactive Entertainment has filed a patent that would see it develop an esports betting platform. The new platform would allow users to bet on esports using Bitcoin, fiat currencies, and in-game items.

The company first filed the patent in 2019, but it was only published earlier this month. According to the patent summary, Sony’s platform would allow viewers to live-stream esports events such as fighting game tournaments. While viewing the games, the viewers can bet on the outcome of the matches.

Sony said, “Wagers may be pecuniary, e.g., money or bitcoin, or maybe non-pecuniary, e.g., game assets, digital rights, and virtual currency.” The platform would have an interface overlay, allowing users to place their bets directly over the stream. The company added that the wager odds would be set using machine learning. The machines would calculate the odds using the play history of the competing players. Also, the machine will consider how a player is performing in the current match when setting the odds.

Sony is known for providing gaming services on several consoles, and it intends to continue with that. The company said the new platform wouldn’t be exclusive to PlayStation and could be available on several gaming systems. The esports betting platform could be available on other “consoles such as Sony PlayStation or a game console made by Microsoft or Nintendo or other manufacturers’ virtual reality (VR) headsets, augmented reality (AR) headsets, portable televisions (e.g., smart TVs, Internet-enabled TVs), portable computers such as laptops and tablet computers, and other mobile devices including smartphones,” Sony added.

Bitcoin continues to gain adoption despite arguments that it is a store of value rather than a currency. The leading cryptocurrency’s price has struggled in recent weeks, and dipped below the $40k mark yesterday.

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