Wagering on event outcomes during the event
First Claim
Patent Images
1. An apparatus, comprising:
- at least one processor; and
at least one memory having instructions stored thereon which, when executed by the at least one processor, direct the at least one processor to;
after a start of an event and before an end of the event, determine a plurality of possible future states of the event that may occur before an end of the event;
after a start of the event and before an end of the event, determine a probability of occurrence for each of the plurality of possible future states based on probability information and reliability information associated with the probability information;
based at least in part on the probabilities, determine odds for betting that a first one of the plurality of possible future states will occur;
before an end of the event, cause to be presented to a plurality of users at a plurality of corresponding computer interfaces information indicating an opportunity to place a bet at the determined odds that the first possible future state will occur, the plurality of computer interfaces being in networked communication with the at least one processor;
responsive to the act of causing to be presented the information, receive from a first of a plurality of users a first bet that the first possible future state will occur;
after receiving the first bet and before an end of the event, determine that the first possible future state has occurred; and
cause a payout to be paid to the first user based on the first bet and the act of determining that first possible future state has occurred.
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Abstract
Methods and systems are provided for managing a wagering system. In one exemplary embodiment, state information of a live event such as a sports game may be received in real time. During the event, a plurality of possible future states of the event and their associated probabilities (and odds) may be determined based on the state information, historical information, and current in-game information. A betting market is created for betting on the possible future states at determined odds. The betting market is closed, and winning and losing bets are resolved based on updated state information.
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Citations
20 Claims
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1. An apparatus, comprising:
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at least one processor; and at least one memory having instructions stored thereon which, when executed by the at least one processor, direct the at least one processor to; after a start of an event and before an end of the event, determine a plurality of possible future states of the event that may occur before an end of the event; after a start of the event and before an end of the event, determine a probability of occurrence for each of the plurality of possible future states based on probability information and reliability information associated with the probability information; based at least in part on the probabilities, determine odds for betting that a first one of the plurality of possible future states will occur; before an end of the event, cause to be presented to a plurality of users at a plurality of corresponding computer interfaces information indicating an opportunity to place a bet at the determined odds that the first possible future state will occur, the plurality of computer interfaces being in networked communication with the at least one processor; responsive to the act of causing to be presented the information, receive from a first of a plurality of users a first bet that the first possible future state will occur; after receiving the first bet and before an end of the event, determine that the first possible future state has occurred; and cause a payout to be paid to the first user based on the first bet and the act of determining that first possible future state has occurred. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A method comprising:
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after a start of an event and before an end of the event, determining, by at least one processor of at least one computer in communication with a plurality of networked computers, a plurality of possible future states of the event that may occur before an end of the event; after a start of the event and before an end of the event, determining, by the at least one processor, a probability of occurrence for each of the plurality of possible future states based on probability information and reliability information associated with the probability information; based at least in part on the probabilities, determining, by the at least one processor, odds for betting that a first one of the plurality of possible future states will occur; before an end of the event, causing to be presented to a plurality of users at a plurality of corresponding computer interfaces information indicating an opportunity to place a bet at the determined odds that the first possible future state will occur, the plurality of computer interfaces being in networked communication with the at least one processor; responsive to the act of causing to be presented the information, receiving, by the at least one processor, from a first of a plurality of users a first bet that the first possible future state will occur; after receiving the first bet and before an end of the event, determining, by the at least one processor, that the first possible future state has occurred; and causing, by the at least one processor, a payout to be paid to the first user based on the first bet and the act of determining that first possible future state has occurred.
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20. A non-transitory machine-readable medium having instructions stored thereon that are configured to, when executed by at least one processor in networked communication with a computer system, direct the at least one processor to:
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after a start of an event and before an end of the event, determine a plurality of possible future states of the event that may occur before an end of the event; after a start of the event and before an end of the event, determine a probability of occurrence for each of the plurality of possible future states based on probability information and reliability information associated with the probability information; based at least in part on the probabilities, determine odds for betting that a first one of the plurality of possible future states will occur; before an end of the event, cause to be presented to a plurality of users at a plurality of corresponding computer interfaces information indicating an opportunity to place a bet at the determined odds that the first possible future state will occur, the plurality of computer interfaces being in networked communication with the at least one processor; responsive to the act of causing to be presented the information, receive from a first of a plurality of users a first bet that the first possible future state will occur; after receiving the first bet and before an end of the event, determine that the first possible future state has occurred; and cause a payout to be paid to the first user based on the first bet and the act of determining that first possible future state has occurred.
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Specification