The trick of bringing into play one’s luck and accuracy in guessing is what makes sportsbetting so thrilling. But everyone is afraid of losing. Picking the wrong team to bet on and losing (monetarily and mentally) is not fun at all. But worry not, eSports bettors in Australia will soon have up to an 80% accurate chance of guessing the winner through SportsHero (ASX: SHO)’s latest Artificial Intelligence (AI)-based live eSports predictor, which is claimed to be the world’s first of similar technology.
Having developed the eSports predictor technology since April 2021, SportsHero has confirmed that the technology is ready for Australian launch. The technology, called Aim Assist Analysis (AAA), is a subscription-based app that is claimed to be user-friendly and helpful to its subscribers in terms of removing uncertainties out of eSports betting.
The AAA app itself uses a combination of Convolutional Neural Network and Deep Learning Reinforcement algorithms specifically designed for eSports betting analysis. The algorithms generate up to five daily esports betting recommendations with the highest win probability matched against the highest opportunity wagering odds available in the market.
Over 3 consecutive months of weekly testing, the algorithm is currently sitting at 72.42% prediction accuracy and has successfully provided winning recommendations for 344 out of 475 eSports matches. SportsHero did not disclose the ante post odds for these predicted games (e.g. one team could have been a $1.10 favourite etc).
During the testing period, AAA achieved weekly prediction accuracy of 80% for 2 weeks, by selecting 56 winning recommendations out of 70 eSports matches.
AAA will target three of the largest eSports titles globally and will include, but not be limited to, League of Legends (LoL), Defense of the Ancients 2 (Dota 2) and Counter Strike Global Offensive (CS:GO). The app will be available to download on both Apple iTunes and Google Play app stores and will offer monthly, quarterly and annual subscription packages priced between $15 -$20 per month.
“These attributes create for SportsHero a significant first mover advantage in the fastest growing and most exciting betting segment, being eSports. AAA provides a unique and timely opportunity to corner not only the Australian eSports prediction market, but also the Chinese eSports prediction market”, said SportsHero’s CEO Tom Lapping.
The launching of AAA in Australia is expected to generate affiliate gaming revenue, subscription revenue, advertising/sponsorship revenue, exclusive streaming revenue and royalties. SportsHero is also currently in discussions with major betting agencies to come on board as AAA’s first major betting partner sponsor. In regards to marketing plans, SportsHero will launch a dedicated Twitch streaming channel for AAA that will demonstrate to eSports gamers how to understand and place bets on eSports matches using AAA.
A recent study published by Absolute Reports revealed that the global eSports betting market is estimated to be worth US$10,030 million in 2021 and is forecasted to increase to US$23,760 million by 2028, representing a compound annual growth rate of 13.1%. In Australia, eSports betting is hugely popular. Sixteen percent of Australian gamblers have bet on eSports online in the last 12 months, suggesting that SportsHero will be exposed to plenty of growth opportunities within the space.
Other than Australia, SportsHero has been reaching out to the Chinese eSports market, which is the largest eSports gaming market in the world. So far it has gained attention from the government and observed substantial progress.
At the end of September quarter, SportsHero spent $744k cash in operating activities, mainly on technology development for expansion purposes in China, Indonesia, and Australia. The Company maintained a total of $1.8m cash at bank.
Clara is a Business Reporter for The Sentiment.
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