Communications system using bets

• US 5,749,785 A
• Filed: 12/08/1995
• Issued: 05/12/1998
• Est. Priority Date: 09/21/1994
• Status: Expired due to Fees

• Current Assignee: Michael T. Rossides
• Original Assignee: Michael T. Rossides
• Inventors: Rossides, Michael T.
• Primary Examiner(s): Harrison, Jessica
• Assistant Examiner(s): ONEILL, MICHAEL W
• Application Number:
  US08/569,883
• Time in Patent Office: 886 Days
• Field of Search: 463/42, 463/41, 463/40, 463/26, 463/25, 463/16, 463/17, 463/18, 364/410, 364/412
• US Class Current: 463/25
• CPC Class Codes: A63F 2009/2441 Pin code
• CPC Class Codes: A63F 3/00157 Casino or betting games horse races A63F3/00082
• CPC Class Codes: G06Q 50/34 Betting or bookmaking, e.g. Internet betting
• CPC Class Codes: G07F 17/3279 wherein the competition is one-to-one, e.g. match
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking
• CPC Class Codes: H04L 69/329 in the application layer [OSI layer 7]
• CPC Class Codes: H04L 9/40 Network security protocols

Abstract

A computer system that allows people to place, accept and settle bets for the purpose of communicating. The system cuts out the middleman, sometimes referred to as the bookmaker, allowing bettors to bet with each other directly. In addition to allowing people to place, accept and settle bets, the system enables people to settle disputes and change bets. It also allows people to place special types of bets for the purpose of demonstrating probability and quantity estimates. The system also allows people to to link bets to ordinary statements that are also entered into the system.

Claims

1. A communications apparatus for the automated transaction of bets over a network, said apparatus comprising in combination,

a computer including input/output means, memory means, processing means, and program means,

said apparatus holding a central data base and connected to a network of input/output terminals,

said program means directing the operation of said apparatus,

said program means directing said apparatus to enable users to choose from among several

modes for entering information into said central data base, including:

a user account mode for enabling a user to establish a user account in said data base,

a search mode for enabling a user to search said data base,

a placing a bet mode for enabling a first user to enter a bet into said data base,

an accepting a bet mode for enabling a second user to accept said bet,

a changing a bet mode for enabling either of said users to change said bet and,

a settling a bet mode for enabling said users to settle said bet;

when a user chooses said user account mode, said program means directing said apparatus to execute the steps of;

creating a user record for identification data, contact data, billing data, credit/debit data, bet data, and bet result data,

creating a user identification number (PIN) and storing it in said user record,

outputting said PIN to said user,

inputting and storing said user'"'"'s name, contact, billing, and credit/debit data in said user record;

when a user chooses said search mode, said program means directing said apparatus to execute the steps of;

inputting search parameters for a bet,

checking to see if a bet matching said parameters is in said data base,

if said bet is not found, outputting a message saying that no such bet is found,

if said bet is found, outputting the bet;

when a user chooses said place a bet mode, said program means directing said apparatus to execute the steps of;

creating a user bet statement record (UBSR) for storing data for a bet,

storing the user'"'"'s PIN in the record to identify said user as the Placer of said bet,

inputting and storing in said record a bet statement,

inputting and storing a designation that the Placer is making a guarantee (G-bet),

inputting and storing in said record the type of commodity being bet,

inputting and storing in said record the amount at stake,

inputting and storing in said record an acceptance fee,

inputting and storing a designation of the divide the pot method,

inputting and storing an identifier identifying a beneficiary account for the acceptance fee,

inputting and storing the necessary to accept the G-bet,

inputting and storing a deadline for acceptances,

outputting the information stored in said bet UBSR;

when a user chooses said accept a bet mode, said program means directing said apparatus to execute the steps of;

inputting search parameters for a bet,

finding said bet,

creating a UBSR for the user, called an Acceptor,

outputting the identity of each Acceptor,

outputting how many Acceptors there are,

if the deadline has expired,

stopping the inputting of acceptances,

dividing the acceptance lee by the number of Acceptors, yielding an Acceptor'"'"'s Share of the Fee,

deducting the Acceptor'"'"'s Share of the Fee from each Acceptor'"'"'s account,

crediting the beneficiary account with the fees deducted from each Acceptor'"'"'s account;

when a user chooses said settle a bet mode, said program means directing said apparatus to execute the steps of;

inputting search parameters for a bet,

finding said bet,

checking said user'"'"'s PIN to see if said user is either the Placer or Acceptor,

if no, outputting a message, "You are not authorized to report a result,"

if yes, receiving an input for a judge or a bet result,

if said input is for a judge, sending a message to a CSUB judge,

if said input is a bet result,

storing the result in the bet record under the user identified by the PIN,

checking to see if results have been entered by both Placer and Acceptor,

if no, alerting the other party of said stored result,

if yes, checking to see if results match,

if the results do not match, alerting both parties of the clashing results,

if the results match, storing the matching result in the bet and users'"'"' records, alerting the Placer and Acceptor that bet is settled,

if the matching result is "Undecided," declaring neither party the winner,

if the bet settles in favor of the Placer, registering the result in the Placer'"'"'s and in each Acceptor'"'"'s UBSR,

if the bet settles in favor of the Acceptors,

dividing the Placer'"'"'s stake by the number of Acceptors, yielding a Share of the Stake,

deducting the stake form the Placer'"'"'s account and add the Share of the Stake to each Acceptor'"'"'s account,

registering the result in the Placer'"'"'s and each Acceptor'"'"'s UBSR.