Method for computerized wagering

• US 20070073609A1
• Filed: 04/17/2006
• Published: 03/29/2007
• Est. Priority Date: 07/11/1997
• Status: Abandoned Application

• Current Assignee: Hanger Solutions, LLC (IP Investments Group LLC)
• Original Assignee: Hanger Solutions, LLC (IP Investments Group LLC)
• Inventors: Yelich, Scott, Odom, James
• Application Number:
  US11/405,688
• Publication Number:
  US 20070073609A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A system and method for networked exchange are disclosed. A system for networked exchange comprises an internal proxy (140); an exchange processor (120) in communication with the internal proxy (140); a database (130) in communication with the internal proxy (140); an external proxy (150) in communication with the internal proxy (140); and, a communications network (110) connected to the external proxy. A method for networked exchange comprises 8 steps. Those steps are (1) specifying a mode of operations for an exchange; (2) identifying a commodity for the exchange; (3) listing information about the commodity; (4) accessing of the listing by a potential purchaser; (5) accessing the network based exchange by the potential purchaser; (6) processing information generated by the potential purchaser, the information comprising a negotiation; (7) concluding the negotiation; and, (8) clearing the concluded negotiation.

Claims

1-56. -56. (canceled)

57. A method for computerized wagering comprising:

selling shares of stock associated with respective entrants in an event;

with an electronic network-based exchange system comprising a server and a plurality of client terminals connected to the server via a communications network, trading shares of stock associated with the respective entrants in the event; and

after an outcome of the event has been determined, distributing proceeds raised in the selling of the shares of stock to stock shareholders of a winning entrant.

58. The method of claim 57, wherein the outcome of the event results in a plurality of winning entrants, and wherein the proceeds raised in the selling of the shares of stock are distributed to stock shareholders of the plurality of winning entrants.

59. The method of claim 57, wherein the event comprises a real-world event.

60. The method of claim 57, wherein the event comprises a plurality of smaller events.

61. The method of claim 60, wherein the event comprises a championship, and wherein the smaller events comprise individual team games.

62. The method of claim 60, wherein the event comprises an election, and wherein the smaller events comprise primaries.

63. The method of claim 57, wherein the respective entrants comprise movies and the event comprises the Oscars.

64. The method of claim 57 further comprising clearing a trade of shares of stock.

65. The method of claim 57 further comprising selling an option to purchase shares of stock associated with an entrant in the event.

66. The method of claim 57 further comprising registering a participant as a member eligible to trade shares of stock with the electronic network-based exchange system.

67. The method of claim 57 further comprising assigning an account to a participant of the electronic network-based exchange system.

68. The method of claim 67 further comprising preventing the participant from trading more stock than is in his account.

69. The method of claim 67 further comprising preventing the participant from trading more money than is in his account.

70. The method of claim 67 further comprising limiting an amount of stock in the participant'"'"'s account.

71. The method of claim 67 further comprising limiting an amount of money in the participant'"'"'s account.

72. The method of claim 57, wherein the communications network comprises a wired medium.

73. The method of claim 57, wherein the communications network comprises a wireless medium.

74. A virtual interactive exchange that provides a trading forum, the virtual interactive exchange comprising:

a server;

a communications network; and

a plurality of client terminals connected to the server via the communications network;

wherein the server is operative to sell shares of stock associated with respective entrants in an event, trade shares of stock associated with the respective entrants in the event, and distribute proceeds raised in the selling of the shares of stock to stock shareholders of a winning entrant after an outcome of the event has been determined.

75. The virtual interactive exchange of claim 74, wherein the outcome of the event results in a plurality of winning entrants, and wherein the server is further operative to distribute proceeds raised in the selling of the shares of stock to stock shareholders of the plurality of winning entrants.

76. The virtual interactive exchange of claim 74, wherein the event comprises a real-world event.

77-90. -90. (canceled)