ColossusBets holds seven US patents related to cash-out functionality, all referring to a “full or partial buy-out offer made at any time prior to completion of a wagering event”.
ColossusBets said it first notified DraftKings of these patents in early 2018, “and has since provided numerous notices of ongoing infringement”.
“We attempted to resolve this amicably and we gave them ample opportunity to do so,” ColossusBets co-founder Bernard Marantelli – listed as the inventor in all of the relevant patents – said.
The business added that, because of this, it would seek increased damages “for willful and deliberate infringement”.
“Given the scope of Colossus’ patent portfolio, this will have implications for the entire gaming industry and multi-billion US market,” ColossusBets said.
The business had previously filed a similar patent lawsuit also related to cash-out features against Australia’s Tabcorp. It also holds patent licences with Bet365 and Esports Technologies, allowing these businesses to use the patented technology.
“We take our intellectual property very seriously. This is the next step towards protecting our rights and income across the industry in the US,” Marantelli said.
Earlier this year, esports betting technology provider Engine Media Holdings filed its own patent infringement lawsuit against DraftKings, related to patents that concerned integration between skill gaming and live events.
Original article: https://igamingbusiness.com/colossusbets-files-us-patent-infringement-lawsuit-against-draftkings/
