Ask Patents is a question and answer site for people interested in improving and participating in the patent system. It only takes a minute to sign up.
Sign up to join this community
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?
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.
