Esports Technologies Files Quantum Computing Patent

LAS VEGAS, Feb. 23, 2022 /PRNewswire/ -- Esports Technologies, Inc. (Nasdaq: EBET, "Esports Technologies"), a leading global provider of advanced esports wagering products and technology, announced today that it has filed a new patent application with claims related to modeling for MOBA games (Multiplayer Online Battle Arenas). The method would use quantum computing to rapidly predict likely team compositions in a MOBA matchup.

The process of selecting characters (e.g., champions or heroes) for a team, as well as banning characters available to the opposing team, is one of the crucial phases of a MOBA match. While classical computing algorithms might require days or years to calculate the most likely team choices with the same accuracy, Esports Technologies' quantum computing approach would find the solution within seconds.

Bart Barden, COO, Esports Technologies, said, "In esports team games, much of our modeling hinges on the composition of each team. The ability to cut through the computational complexity and predict likely team compositions within seconds could prove to be extremely beneficial. We believe this accelerated quantum computing method developed by our dedicated quantitative analysis and modeling team may be another breakthrough innovation for Esports Technologies."

The patent filing is the latest addition to EBET's portfolio of intellectual property for predictive gaming models. It comes on the heels of a November 2021 patent application related to modified statistical distribution for modeling possible outcomes in MOBAs. In August 2021, the company filed a provisional patent application for a method of using artificial intelligence to generate odds models for use in a betting algorithm for various stages of an esports tournament. For this groundbreaking use of technology, Esports Technologies was selected as a finalist in the 2021 Tempest Esports Business Awards.

About Esports Technologies

Esports Technologies develops award-winning, groundbreaking and engaging wagering products for esports fans and bettors around the world. The company is focused on bringing better odds and technology solutions to cater to the Millennial and Gen-Z demographics. It has an expanding portfolio of intellectual property with patents pending around odds modeling simulation, an electronic sports betting exchange system, live streaming odds integration and enhancing modeling probabilities in multi-player games. Esports Technologies operates online sportsbook and casino brands Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, GenerationVIP and Gogawi, which have over 1.25 million deposited customers in more than 15 countries. Esports Technologies recently was awarded SIGMA's Esport Product of the Year, and its brand Karamba received SBC's award for Innovation in Casino & Gaming Entertainment. Esports Technologies is listed on the Nasdaq under the symbol EBET.

For more information, visit: https://esportstechnologies.com.

Forward-Looking Statements: This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which statements involve risks and uncertainties. These statements relate to future events, future expectations, plans and prospects. 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. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, actual results or outcomes may prove to be materially different from the expectations expressed or implied by such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed in the Company's filings with the Securities and Exchange Commission, including as set forth in Item 1A. "Risk Factors" in our most recently filed Form 10-K filed with the Securities and Exchange Commission and updated from time to time in our Form 10-Q filings and in our other public filings with the SEC. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.

SOURCE Esports Technologies, Inc.

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