Colossus Bets, a global provider of sports jackpots and gaming technology, has this week announced the filing of a patent infringement suit against DraftKings in the United States District Court for the District of Delaware. The suit relates to infringement of seven patents, covering sports betting and gaming products that incorporate a Cash Out feature.
Colossus holds an extensive patent portfolio globally on sports bets and games incorporating Cash Out, including whether or not the Cash Out feature is used by the player. This lawsuit in the US against DraftKings signals Colossus’ broader intention to defend its intellectual property, and follows the initiation of similar proceedings against Tabcorp in Australia. Global law firm DLA Piper represents the company in the litigation as well as all patent-related matters.
Colossus first notified DraftKings of its patent rights as early as 2018 and has since provided numerous notices of ongoing infringement. Regarding the decision to file suit, Bernard Marantelli, Founder of Colossus Bets and inventor of the patents-in-suit stated, “We attempted to resolve this amicably and we gave them ample opportunity to do so.”
Because DraftKings has continued offering its products despite repeated notices of infringement, the company said, Colossus is seeking to recover all damages available by law, including “increased damages for wilful and deliberate infringement”. Given the scope of Colossus’ patent portfolio, this will have implications for the entire gaming industry and multi-billion US market.
Bernard Marantelli added: “We take our intellectual property very seriously. This is the next step towards protecting our rights and income across the industry in the US.”
Colossus Bets had previously announced patent licences with bet365 and Esports Technologies. Beyond the US, Colossus’ patent portfolio covers Australia, Japan, South Korea, the Philippines, Indonesia, South Africa, Singapore, Nigeria, and Eurasia (EAPO).
About Colossus Bets
Colossus Bets is the multi-award-winning operator and supplier of the largest sports betting pools globally, offering lottery-sized prize guarantees, leg-by-leg cash-out offers and the unique Syndicates ‘crowdbetting’ feature.
We believe in making sports bigger by enabling sports fans to engage with the sports they love through life-changing jackpots and the most authentic social betting experience. Since our launch in 2013, we have distributed more than £200 million in prizes and have reached players in over 100 countries.
Players can join our pools via our B2C site, colossusbets.com, or our worldwide network of partners, including bet365, Paf and Betway Africa.
Find out more here.
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