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Colossus Bets sues DraftKings over cashout patent infringement


Colossus Bets has filed a patent infringement lawsuit against DraftKings in the US District Court for Delaware, over patents related to a cashout feature.

Colossus Bets holds seven US patents related to a cashout product, all referring to a “full or partial buy-out offer made at any time prior to completion of a wagering event”.

Colossus Bets said it first notified DraftKings of these patents in early 2018, the year DraftKings first launched a cashout product, “and has since provided numerous notices of ongoing infringement”.

“We attempted to resolve this amicably and we gave them ample opportunity to do so,” Colossus Bets co-founder Bernard Marantelli – listed as the inventor in all of the relevant patents – said.