Communications system using bets

• US 6,443,841 B1
• Filed: 05/11/1998
• Issued: 09/03/2002
• 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 J.
• Assistant Examiner(s): HOTALING, JOHN M
• Application Number:
  US09/075,984
• Time in Patent Office: 1,576 Days
• Field of Search: 463/42, 463/41, 463/40, 463/26, 463/25, 463/18, 463/17, 463/16, 700/91, 700/92, 700/93
• US Class Current: 463/25
• CPC Class Codes: A63F 3/00157 Casino or betting games horse races A63F3/00082
• CPC Class Codes: F21V 19/0085 at least one conductive element acting as a support means, e.g. resilient contact blades, piston-like contact
• CPC Class Codes: F21V 25/00 Safety devices structurally associated with lighting devices gas- tight or water-tight arrangements F21V31/00; in general F16P; protective circuit arrangements per se H02H7/00
• 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: H01R 13/24 resilient; resiliently-mounted
• CPC Class Codes: H01R 13/453 Shutter or cover plate opened by engagement of counterpart
• 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 method for transacting bets over a network, said method being used by at least three types of users:

Placers who place bets, Acceptors who accept bets that have been placed, and Judges who settle bets in cases of a dispute between a Placer and Acceptor,

said method comprising in combination,

a computer connected to a network of input/output terminals,

said computer including a program and central data base,

said program directing said computer to enable users to choose from among several actions for entering information into said data base, including;

a user account action for enabling a user to establish a user account and for identifying said user with a passcode,

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

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

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

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

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

when a user chooses said place a bet action, said program directing said computer to execute the steps of;

creating a bet record for storing data for a bet,

storing said user'"'"'s ID in said bet record and identifying said user as the Placer,

inputting and storing in said record a bet statement,

inputting and storing in said record the amount of money the Placer is putting at stake, and identifying said amount as the Placer'"'"'s stake,

inputting and storing in said record the payoff odds that the Placer is offering,

inputting and storing in said record the side of the bet (“

True”

or “

False”

) that the Placer is taking,

calculating and storing in said record the amount needed to cover said Placer'"'"'s stake, and identifying said amount as a potential Acceptor'"'"'s stake,

outputting the information stored in said bet record;

when a second user chooses said accept a bet action, said program directing said computer to execute the steps of;

inputting search parameters for a bet and finding said bet,

checking to see if said bet has already been accepted,

if yes, outputting a message, “

bet has already been accepted,”

if no, storing said second user'"'"'s ID in said bet record and identifying said second user as the Acceptor, and identifying said Acceptor'"'"'s stake as said second user'"'"'s stake, and further, storing an acceptance in said bet record, and informing said Placer of the acceptance,

after storing said acceptance, starting a clock with a pre-set time limit,

when the time limit expires, checking to see if either Placer or Acceptor has canceled the acceptance,

if no, storing a confirmation of said acceptance in said bet record;

when a user chooses said change a bet action, said program directing said computer to execute the steps of;

inputting search parameters for a bet,

finding said bet,

verifying that said user is the Placer or Acceptor of said bet,

checking if said bet has been accepted,

if the bet has not been accepted, receiving an input from the Placer,

checking if said input is to cancel or change the bet,

 

if said input is to cancel the bet, canceling the bet, storing said cancellation in said user'"'"'s record,

 

if input is to change the bet, inputting and storing changes in said bet record,

if said bet has been accepted, checking whether said acceptance is confirmed,

if yes, outputting a message, “

No changes allowed now,”

if no, checking whether said user is the Placer or Acceptor,

 

if said user is the Placer, canceling the bet,

 

storing the cancellation in said user'"'"'s record,

 

informing the Acceptor of said cancellation,

 

if said user is the Acceptor, canceling the acceptance,

 

storing the cancellation in said user'"'"'s record,

 

informing the Placer of said cancellation;

when a user chooses said settle a bet action, said program directing said computer to execute the steps of;

inputting search parameters for a bet,

finding said bet,

verifying that 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 a call for a judge, sending a message to an authorized Judge,

if said input is a bet result,

storing the result in said bet record as the result of said user,

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

if no, alerting the other user identified in said bet record of said result,

if yes, checking to see if results match,

if the results do not match,

informing Placer and Acceptor of the clashing results,

if the results match,

storing the matching result in the bet and users'"'"' records,

informing the Placer and Acceptor tat bet is settled,

 

if the matching result is “

Undecided,”

declaring neither Placer nor Acceptor the winner,

 

if the matching result is “

True,”

identifying the user assigned the side of “

True”

as the winner and the user assigned “

False”

as the loser,

 

if the matching result is “

False,”

identifying the user assigned the side of “

False”

as the winner and user assigned “

True”

as the loser,

 

crediting the winner'"'"'s account by the loser'"'"'s stake and

 

debiting the loser'"'"'s account by the loser'"'"'s stake.

2. The communications method of claim 1 in which the pre-set time limit after a bet acceptance is set to zero, such that no changes can be made to the bet agreement once the bet has been accepted.

3. The communications method of claim 1 in which a Placer or Acceptor who cancels a bet pays a cancellation fee.

4. The communications method of claim 1 in which the payoff odds are entered and outputted in X−

Y terms.

5. The communications method of claim 1 in which the payoff odds are entered and outputted in percentage terms.

6. A communications method for transacting bets over a network, said method being used by at least three types of users:

Placers who place bets, Acceptors who accept bets that have been placed, and Judges who settle bets,

said method comprising in combination,

a computer connected to a network of input/output terminals,

said computer including a program and central data base,

said program directing said computer to enable users to choose from among several actions for entering information into said data base, including;

a user account action for enabling a user to establish a user account and for identifying said user with a passcode,

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

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

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

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

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

when a user chooses said place a bet action, said program directing said computer to execute the steps of;

creating a bet record for storing data for a bet,

storing said users ID in said bet record and identifying said user as the Placer,

inputting and storing in said record a bet statement,

inputting and storing in said record the amount of money the Placer is putting at stake, and identifying said amount as the Placer'"'"'s stake,

inputting and storing in said record the payoff odds that the Placer is offering,

inputting and storing in said record the side of the bet (“

True”

or “

False”

) that the Placer is taking,

calculating and storing in said record the amount needed to cover said Placer'"'"'s stake; and

identifying said amount as a potential Acceptor'"'"'s stake,

outputting the information stored in said bet record,

when a second user chooses said accept a bet action, said program directing said computer to execute the steps of;

inputting search parameters for a bet and finding said bet,

checking to see if said bet has already been accepted,

if yes, outputting a message, “

bet has already been accepted,”

if no, storing said second user'"'"'s ID in said bet record and identifying said second user as the Acceptor, and identifying said Acceptor'"'"'s stake as said second user'"'"'s stake, and further, storing an acceptance in said bet record, and informing said Placer of the acceptance,

after storing said acceptance, starting a clock with a pre-set time limit,

when the time limit expires, checking to see if either Placer or Acceptor has canceled the acceptance,

if no, storing a confirmation of said acceptance in said bet record;

when a user chooses said change a bet action, said program directing said computer to execute the steps of;

inputting search parameters for a bet,

finding said bet,

verifying that said user is the Placer or Acceptor of said bet,

checking if said bet has been accepted,

if the bet has not been accepted, receiving an input from the Placer,

checking if said input is to cancel or change the bet,

 

if said input is to cancel the bet, canceling the bet, storing said cancellation in said user'"'"'s record,

 

if input is to change the bet, inputting and storing changes in said bet record,

if said bet has been accepted, checking whether said acceptance is confirmed,

if yes, outputting a message, “

No changes allowed now,”

if no, checking whether said user is the Placer or Acceptor,

 

if said user is the Placer, canceling the bet,

 

storing the cancellation in said user'"'"'s record,

 

informing the Acceptor of said cancellation,

 

if said user is the Acceptor, canceling the acceptance,

 

storing the cancellation in said user'"'"'s record,

 

informing the Placer of said cancellation;

when a user chooses said settle a bet action, said program directing said computer to execute the steps of;

inputting search parameters for a bet,

finding said bet,

verifying that said user is an authorized Judge,

inputting a result from the Judge and storing the result in said bet record,

if the result is “

Undecided,”

declaring neither Placer nor Acceptor the winner,

if the result is “

True,”

identifying the user assigned the side of “

True”

as the winner and the user assigned “

False”

as the loser,

if the result is “

False,”

identifying the user assigned the side of “

False”

as the winner and user assigned “

True”

as the loser,

crediting the winner'"'"'s account by the loser'"'"'s stake and debiting the loser'"'"'s account by the loser'"'"'s stake.

7. The communications method of claim 6 in which the pre-set time limit after a bet acceptance is set to zero, such that no changes can be made to the bet agreement once the bet has been accepted.

8. The communications method of claim 6 in which a Placer or Acceptor who cancels a bet pays a cancellation fee.

9. The communications method of claim 6 in which the payoff odds are entered and outputted in X−

Y terms.

10. The communications method of claim 6 in which the payoff odds are entered and outputted in percentage terms.