Colossus Bets, a global provider of sports jackpots and gaming technology, announced the filing of a patent infringement lawsuit against DraftKings The suit, filed in the U.S. District Court for the District of Delaware, alleges 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 against DraftKings signals Colossus’ broader intention to defend its intellectual property, according to the company, and follows the initiation of similar proceedings against Tabcorp in Australia.
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.”
Colossus is seeking to recover all damages available by law, including increased damages for willful and deliberate infringement.
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 U.S.”
Colossus Bets had previously announced patent licenses with bet365 and Esports Technologies. Beyond the U.S., Colossus’ patent portfolio covers Australia, Japan, South Korea, the Philippines, Indonesia, South Africa, Singapore, Nigeria, and Eurasia (EAPO).
