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I've developed a highly profitable basketball prediction model. Thing is, I don't live in a place where gambling is legal (lame). My real question is: how can I capitalize on the model without gambling? I came here because I thought maybe I could patent the model and then sell the patent.

Thoughts?

Is one even able to patent a sports prediction model?

  • Can you add a country tag? Patentability of algorithms like that depends on the jurisdiction. – DonQuiKong Apr 10 '17 at 14:31
  • Kendall, if you model take into account metrics on players, perhaps it could be used for player evaluation with the NBA draft. I'm sure NBA teams would be willing to pay $ for such insights. – Eric Shain Apr 10 '17 at 21:56
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My guess is that depending on the jurisdiction, yes you can patent an algorithm to predict sports outcomes. Whether you should is a different question. Eighteen months after you file an application it will publish which means everyone can see your algorithm. I'm assuming most people would use it for themselves such that it would be very difficult to prove infringement. On top of this, patents cost money both to draft if you use a lawyer or agent (and you should) and file. The process usually takes at least 3 years.

Perhaps better is to provide a service providing picks. People pay you for the pick. You aren't gambling yourself so it could likely be legal where you live. This way you can monetize your invention without disclosing it. The technical term for this is Trade Secret.

  • Additionally, it's very hard to find someone who is willing to buy a patent and start monetizing it's idea. – DonQuiKong Apr 10 '17 at 5:43
  • @DonQuiKong On top of that, patents cost money. – Eric Shain Apr 10 '17 at 14:06
  • There were all things I was concerned about. Thanks for the clarity, I really appreciate it. I think you're probably right, the best route may be to keep the alg as a Trade Secret and sell picks. – Kendall Weihe Apr 10 '17 at 16:50
  • @KendallWeihe If the answer suits you, it would be nice for you to accept it by clicking on the check mark. – Eric Shain Apr 10 '17 at 16:57

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