The inventor of the first live in-game betting platform will be patenting a new in-game platform for daily fantasy sports next month. The new platform will be presented to DFS operators and could launch as early as 2016.
Daily fantasy sports provide nearly instantaneous results for enthusiasts for the thriving industry. Now if one man has his way, fans of the game may be able to participate in daily fantasy sports (DFS) in even more frequent In-Game intervals – In-Game Fantasy Sports
This is all according to a report from sports betting information site Gambling911, which says the inventor of the first live in-game betting platform will be patenting a new in-game platform for daily fantasy sports next month.
The new product is the brainchild of Bill Mindes, who first invented and launched SportsXaction at the Excalibur in Las Vegas in the mid-1990s, which allowed participants to wager on major league baseball games pitch by pitch. The new product was a pioneer in its field that has led to other similar platforms.
The new daily fantasy sports platform, which is being called the Phantasmagoria Sports System, has been in development for two years.
“I will be officially applying for a formal patent next month. Over the next few months I will be testing the software. I expect the system to be in use by the start of the 2016 football season,” Mindes was quoted as saying by Gambling911.
Mindes did not give any further details on the project, fearing that the proprietary software could be copied by opportunists. When Phantasmagoria is finished he does hope to sell or lease the product to daily fantasy sports operators who may be looking for a new spin on their product in this burgeoning industry.
Live In-Play Sportsbetting
Although introduced in brick and mortar casinos in the 1990s, Live “In-Play” betting online has only seen rapid growth over the decade at European and offshore sportsbooks. This has been due to more robust data, new capabilities in trading and more countries regulating in-play betting.
Players desire for the instant satisfaction from in-play betting will only continue to boom. It’s this same trend that has made daily fantasy sports increase in popularity over the last few years so it seems a natural extension to take the daily fantasy model and make it even more instant. Both players and operators win with in-game betting. Players get almost endless betting opportunities and sports books get more activity that translates into more revenue.
Still, there remains doubt on how much demand there would be in such a product in the daily fantasy sports space at this time. Despite daily fantasy sport’s rapid growth, the sport is having some trouble shedding its perception as a game for diehards.
The Huge Growth of Daily Fantasy Sports
The Fantasy Sports Trade Association sees the sport with estimated value of $4.5 billion industry in 2013. , according to FanDuel Investor webpage. FanDuel control 80% of the market share of daily fantasy sports industry. FanDuel was also recently valued around $1 billion in its latest fundraising round.