bet365 to tap into Colossus Bets' cash-out patent portfolio

(PRESS RELEASE) -- Colossus Bets announced today a long-term licensing agreement that will allow bet365 to tap into Colossus’ extensive cash-out patent portfolio in the U.S.

Colossus is considered a pioneer of cash-out functionality and has been granted several patents globally, including 12 in the U.S., covering all aspects of the now must-have feature.

The patents cover offering cash-out on several gaming verticals in the U.S., including poker, casino, lottery and, most notably, bet365’s world-leading sportsbook offering.

Colossus CEO Bernard Marantelli commented, “bet365 are known not just for their size but also their commitment towards user experience and we are pleased that licensing Colossus’ IP fits their commercial objectives in the U.S.”

Industry estimates suggest that if cash-out were a sport, it would qualify as the third biggest by betting volume for most sportsbooks, right behind football and racing, which is telling of the significant dominance of what is a relatively new feature in betting history terms.