Real-time interactive wagering on event outcomes
First Claim
1. A method of real-time interactive wagering on event outcomes, said method comprising:
- qualifying a client to participate in wagering;
selecting a plurality of wagerable event outcomes in accordance with said qualifying;
receiving a request to wager on one of said event outcomes; and
notifying substantially immediately whether said wager has been accepted.
1 Assignment
0 Petitions
Accused Products
Abstract
Systems and methods for real-time interactive wagering on event outcomes are presented. Clients are first qualified and given wagering limits before being allowed to interactively wager on event outcomes. Event outcomes may be based on, for example, financial markets and indices, sporting and entertainment events, casino performances, and natural phenomena such as weather and earthquakes. Events on which wagers can be placed include both those with known and unknown outcome probabilities, and wagers can be a fixed-odds type or a spread-bet type. Wager transactions, including acceptances and confirmations, are executed in real time. Clients can customize displays of events on which they are authorized to wager. Real-time client credit management, automatic dealer hedging, automatic price-spread adjustments, and automatic client and dealer defined wagering limits are also provided.
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Citations
55 Claims
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1. A method of real-time interactive wagering on event outcomes, said method comprising:
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qualifying a client to participate in wagering;
selecting a plurality of wagerable event outcomes in accordance with said qualifying;
receiving a request to wager on one of said event outcomes; and
notifying substantially immediately whether said wager has been accepted. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A method of real-time interactive wagering on event outcomes, said method comprising:
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providing an Internet Web site that includes a selection of event outcomes;
qualifying a client to participate in wagering;
receiving from said client via said Internet a request to wager on one of said event outcomes;
determining substantially immediately whether said client is qualified to place said wager; and
notifying said client substantially immediately via said Internet whether said wager is accepted. - View Dependent Claims (8, 9, 10)
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11. A method of real-time interactive wagering on event outcomes, said method comprising:
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determining a wagering limit for said client;
selecting wagerable event outcomes on which said client is authorized to wager;
displaying to said client said selection of wagerable event outcomes;
receiving a request from said client to wager on one of said selection of wagerable event outcomes; and
adjusting substantially immediately said wagering limit of said client. - View Dependent Claims (12, 13, 14, 15)
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16. A method of real-time interactive wagering on event outcomes, said method comprising:
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establishing a line of credit for a client;
displaying to said client a selection of event outcomes on which said client is authorized to wager;
receiving a request from said client to wager on one of said selection of event outcomes;
confirming substantially immediately acceptance of said wager;
updating substantially immediately said line of credit-of said client; and
updating substantially immediately said selection of event outcomes on which said client is authorized to wager. - View Dependent Claims (17, 18, 19)
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20. A method of real-time interactive wagering on event outcomes, said method comprising:
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qualifying a client for wagering;
receiving price information for said wagerable event outcomes;
generating a selection of event outcomes on which said client is authorized to wager, each said event having said price information associated therewith;
displaying to said client said selection of event outcomes and associated price information;
updating said display of wagerable event outcomes in real time when said received price information differs from said displayed price information. - View Dependent Claims (21, 22)
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23. A method of real-time interactive wagering on event outcomes, said method comprising:
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establishing a wagering limit for a client;
receiving from said client instructions defining which wagerable event outcomes are to be displayed;
determining a first selection of wagerable event outcomes on which said client is authorized to wager in accordance with said wagering limit;
determining a second selection of wagerable event outcomes from said first selection in accordance with said client instructions; and
displaying to said client a display of wagerable event outcomes wherein each of said displayed event outcomes is one of said first selection and said second selection;
receiving a request from said client to wager on one of said displayed wagerable event outcomes; and
notifying said client substantially immediately whether said wager has been accepted. - View Dependent Claims (24)
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25. A method of real-time interactive wagering on event outcomes, said method comprising:
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qualifying a client to participate in wagering;
displaying to said client a plurality of event outcomes, each said event outcome having a displayed price associated therewith;
receiving a request from said client to wager on one of said plurality of event outcomes at said displayed price associated with said event outcome;
determining whether said displayed price of said event outcome is the same as the current price of said event outcome; and
notifying said client substantially immediately if said current price is different from said displayed price.
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26. A method of real-time interactive wagering on event outcomes, said method comprising:
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receiving a request from a client to wager on an event outcome on which said client is authorized to wager;
determining automatically an amount to hedge said wager based upon predetermined criteria; and
hedging said wager in accordance with said determination. - View Dependent Claims (27, 28, 29)
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30. A method of real-time interactive wagering on event outcomes, said method comprising:
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receiving a request from a client to wager on an event outcome on which said client is authorized to wager;
determining an amount said house has at risk based upon said requested wager and wagers made by other clients;
determining whether said amount at risk exceeds a predetermined amount; and
hedging automatically said amount at risk in accordance with whether said amount at risk exceeds said predetermined amount. - View Dependent Claims (31, 32, 33)
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34. A method of real-time interactive wagering on event outcomes, said method comprising:
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determining a spread of a wagerable event outcome;
displaying at a workstation said wagerable event outcome and said spread of said wagerable event outcome;
receiving a request to wager on said wagerable event outcome;
notifying substantially immediately whether said wager has been accepted; and
adjusting continually said spread of said wagerable event in accordance with predetermined risk criteria. - View Dependent Claims (35, 36, 37, 38)
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39. A method of real-time interactive wagering on event outcomes, said method comprising:
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qualifying a client to participate in wagering;
receiving a request from said client to wager on an event outcome, said event outcome being associated with a data and a market, wherein a price for said event outcome for said date is unavailable from said market;
calculating said price for said event outcome in accordance with available market information; and
displaying to said client said calculated price. - View Dependent Claims (40)
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41. A method of real-time interactive wagering on event outcomes, said method comprising:
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qualifying a client to participate in wagering;
receiving from said client instructions defining a maximum amount said client desires to risk;
receiving from said client a request to wager on an event outcome on which said client is authorized to wager; and
warning said client when said requested wager and other wagers of said client exceed said maximum amount. - View Dependent Claims (42)
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43. A method of real-time interactive wagering on event outcomes, said method comprising:
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qualifying a client to participate in wagering;
receiving from said client instructions defining a wagering limit; and
preventing said client from further wagering when said wagering limit has been met. - View Dependent Claims (44, 45)
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46. A method of real-time interactive wagering on event outcomes, said method comprising:
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receiving from a client instructions defining a wagering limit;
receiving from said client a request to wager on an event outcome;
calculating a total wagering amount for said client based upon said requested wager and other wagers made by said client; and
notifying said client substantially immediately when said total wagering amount exceeds said wagering limit.
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47. A method of real-time interactive wagering on event outcomes, said method comprising:
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displaying to a client a first display comprising a selection of event outcomes on which said client is authorized to wager;
receiving from said client a request to wager on an event outcome;
calculating a total wagering amount for said client based upon said requested wager and other wagers made by said client; and
displaying to said client a second display comprising a non-wagering environment when said total wagering amount exceeds a predetermined wagering limit. - View Dependent Claims (48)
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49. A method of real-time interactive wagering on event outcomes, said method comprising:
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receiving from a client instructions defining a loss limit;
calculating a total loss amount for said client in response to said client losing a wager, said total loss amount based upon said lost wager and other wagers lost by said client; and
notifying said client substantially immediately when said total loss amount exceeds said loss limit.
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50. A method of real-time interactive wagering on event outcomes, said method comprising:
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issuing a card to a client, said card encoded with identification information and financial information associated with said client;
reading said encoded information from said card;
displaying to said client a selection of wagerable event outcomes on which said client is authorized to wager in accordance with said encoded information;
receiving a request from said client to wager on one of said selection of wagerable event outcomes;
notifying said client substantially immediately whether said wager has been accepted; and
updating on said card said financial information.
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51. A method of real-time interactive wagering on event outcomes, said method comprising:
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issuing a card to a client, said card encoded with identification information and financial information associated with said client;
reading said encoded information from said card;
updating a financial information record associated with said client in accordance with said encoded information read from said card, said financial information record stored within a data processing computer;
displaying a selection of wagerable event outcomes on which said client is authorized to wager in accordance with said encoded financial information;
receiving a request from said client to wager on one of said selection of wagerable event outcomes;
notifying substantially immediately whether said wager has been accepted;
updating said financial information record associated with said client; and
updating on said card said financial information.
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52. A method of real-time interactive wagering on event outcomes, said method comprising:
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providing a selection of wagerable event outcomes;
receiving a request from a client to wager on an event other than one of said selection of wagerable event outcomes;
analyzing whether said requested event outcome should be offered as a wagerable event outcome;
establishing price and spread for said requested event outcome in response to a favorable analysis of said requested event; and
adding said requested event outcome to said selection of wagerable event outcomes in response to said favorable analysis. - View Dependent Claims (53, 54)
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55. A method of real-time interactive wagering on event outcomes, said method comprising:
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qualifying a client for wagering;
providing a selection of wagerable event outcomes;
receiving a request from a client to wager on an event outcome other than one of said selection of wagerable event outcomes;
adding said requested event outcome to said selection of wagerable event outcomes.
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Specification