Sony Publishes Patent Describing an “eSport Betting Platform” that Accepts Bitcoin

Sony Interactive Entertainment plans to launch a platform for viewers to wager on live eSports events using fiat, Bitcoin, digital rights, or in-game items, as per a recently published patent.

The eSport Betting Platform

According to sources, details of the eSport Betting Platform were filed in 2019. However, the gaming giant only published it in May 2021.

Through the platform, viewers would, in real-time, just like they would in other live events, place bets on the eSport competition’s outcome using fiat, BTC, or in-game assets.

All wagers would be placed via a user interface overlaid on the streaming event.

The eSport Betting Platform would generate odds depending on the player’s past or match performance using machine learning algorithms.

Furthermore, according to the patent, wagering wouldn’t be exclusive to PlayStation alone.

The platform would be accessible even to competing gaming providers such as Xbox, viewers on desktop and mobile.

Bitcoin is stranded in a Storm

Bitcoin finds itself in a storm at present.

Elon Musk, the billionaire CEO of Tesla, believes in cryptocurrency’s prospects.

However, Tesla is pausing to accept payment in BTC until the network addresses its rapacious energy requirements.

Although Tesla believes in the idea presented by cryptocurrencies, they maintain that its value proposition shouldn’t be at the expense of the environment.

Over and beyond everything, Bitcoin is a medium of exchange and a store-of-value.

It remains volatile, but it would fit global users due to its borderless nature.

Additionally, Bitcoin is secure and is well adopted. From the eSport Betting Platform, once it goes live, viewers’ and bettors’ experience would be significantly boosted.

Considering the biting shortage of PS5 consoles, the patent may be an ingenious way of building the fan base and keeping those who missed out excited.

Will the platform see the light?

Still, the crypto scene would be watching closely to check if Sony Interactive Entertainment would come through and eventually launch.

Typical of gaming platforms, sometimes with ambitious plans, they may fail to actualize despite a profound and potentially disruptive solution laid out in a patent.

In late 2018, BTCManager reported on Sony Computer Science Laboratories’ development of a contactless crypto cold wallet.