2023 initiative aimed at providing best-in-class esports tournament and betting experience
MONTREAL, Feb. 01, 2023 (GLOBE NEWSWIRE) -- React Gaming Group Inc. (“React Gaming” or the “Corporation”) (TSXV: RGG, OTCQB: ITMZF) is pleased to announce its 2023 plans to enhance the capabilities of its online esports tournament and betting platforms, Compete.gg and LOOT.BET, through the integration of artificial intelligence (AI) applications and machine learning (ML) techniques.
“Esports is a large and growing market with revenues that are expected to reach $1.87 billion in 2025, according to market analytics firm Statista. As this booming industry grows, AI is widely seen as having the potential to bring about significant revenue opportunities in the next decade. AI's ability to automate repetitive tasks, make smart decisions, and analyze large amounts of data faster than humans, makes it a valuable tool for businesses across various industries, including gaming and esports. In the online esports space, AI can help improve tournament organization and player engagement, provide valuable insights for sponsors, and streamline betting and wagering processes, amongst many other applications that could benefit Compete.gg and LOOT.BET. This is why we will focus in 2023 on enhancing our AI capabilities in both our online esports platforms,” said Leigh Hughes, CEO of React Gaming.
In any sport, the ability to analyse performance and use that insight to predict the outcome is very valuable. Esports are different from traditional sports in that everything about them is digital. These digital landscapes generate a huge amount of data, in a way that no other sport can. This gives AI a huge advantage for analysis and prediction.
React Gaming’s primary goal with Compete.gg is to pursue the development of its universal and accessible esports tournament platform that enables gamers worldwide to win money playing their favorite video games. AI and machine learning would come into play here by helping the Corporation to further develop its Smart AI Tournament System, which would enable it to scale with demand and facilitate and run online esports tournaments in a much more straightforward and effective manner. More precisely, this would involve exploring the exciting possibilities of AI technology to revolutionize the online esports tournament space. Our goal is to utilize AI algorithms to generate the fairest and most competitive tournaments possible, in real time. These algorithms will consider player performance, past tournament results, and various other factors to craft optimized schedules, matchups, and pairings. We also plan to use AI to help tournament organizers (TO), of any size, quickly establish a home for themselves on our platform, making it easier for TOs to run and facilitate a wide array of esports tournaments online while also strengthening their brand recognition.
With LOOT.BET, AI would be used to generate live-data integration, in-game analytics, predictive modeling and personalized recommendations, just to name a few. AI and ML would work together to derive high-quality insights that could be very useful for the people betting on React Gaming’s LOOT.BET esports platform, while enhancing its performance.
“Our main goal will be to use AI and ML to provide a best-in-class experience for our users, prevent cheating, and predict outcomes of matches to provide keen insights for our players, which could all lead to increased fan engagement, the main revenue driver in esports,” concluded Mr. Hughes.
About React Gaming Group
React Gaming Group (TSXV: RGG) (OTCQB: ITMZF) is a publicly traded holding company that stands at the forefront of the esports and iGaming industry. By investing in innovative technologies that enhance tournaments, teams, and wagering, we provide our users with gaming platforms that produce non-stop action, exciting outcomes, and unparalleled enjoyment. Through the use of intelligent data, we also connect our sponsors to robust communities within the rapidly evolving industry, ensuring maximum engagement and substantial reward. For more information, please visit us at reactgaming.ca and follow us on LinkedIn, Twitter, Instagram and YouTube.
Forward-looking statements
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
REACT GAMING GROUP INC.
Leigh Hughes
1-514-861-1881
info@reactgaming.ca
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9133c201-30d1-401c-9d56-eeb8f386df97
