Gaming system providing simulated securities trading

• US 7,657,477 B1
• Filed: 10/21/2004
• Issued: 02/02/2010
• Est. Priority Date: 10/21/2003
• Status: Active Grant

• Current Assignee: Summalp Applications Incorporated
• Original Assignee: Summalp Applications Incorporated
• Inventors: Chaffee, Arthur Willard
• Primary Examiner(s): Campen; Kelly
• Application Number:
  US10/970,115
• Time in Patent Office: 1,930 Days
• Field of Search: 705/36.R, 705/35, 705/37, 705/36.T, 705/1, 705/10, 705/26, 273/256, 463/16, 463/25, 463/42, 463/1, 463/17
• US Class Current: 705/36.00R
• CPC Class Codes: A63F 2300/575 for trading virtual items
• CPC Class Codes: A63F 2300/69 Involving elements of the real world in the game world, e.g. measurement in live races, real video
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G07F 17/32 for games, toys, sports, or amusements
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

A trading game allows players to engage in trading based on real-world prices of real-world securities. Simulated positions of real-world securities in player portfolios may be opened and closed in accordance with instructions provided by each player. The performance of each player may be tracked relative to an index. A tradescreen may be generated for displaying current financial information of a portfolio of a player and for entering hypothetical data to produce revised financial information. The hypothetical data may be submitted to update the portfolio of the player.

Claims

1. A method for operating a gaming system on a computer system having a server and at least one computer, the method comprising:

opening and closing simulated positions of real world securities in simulated securities portfolios for a plurality of players in accordance with instructions provided by each of the plurality of players;

tracking by the server or the at least one computer performances of the simulated securities portfolio of each of the plurality of players relative to one of

     1) performances of the simulated securities portfolios of the other players, and

     2) one or more of a securities index;

maintaining a portfolio database in the server for the simulated securities portfolios for each of the plurality of players, wherein each simulated securities portfolio has current financial information associated with the respective simulated securities portfolio;

receiving a request for a tradescreen from a requesting player of the plurality of players; and

generating the tradescreen based on the portfolio database of the server for the requesting player for display on a computer of the requesting player, the tradescreen for displaying the current financial information for the simulated securities portfolio of the requesting player and for calculating and displaying revised financial information for the simulated securities portfolio of the requesting player, the tradescreen for entering proposed data comprising one of a proposed trade and a proposed transfer of the simulated positions of real world securities, the tradescreen for allowing the requesting player to determine if the proposed data entered into the tradescreen would produce one of a first type of result and a second type of result;

providing an interface on the tradescreen for enabling the requesting player to submit the transaction corresponding to the proposed data entered into the tradescreen to update the portfolio database in the server with the revised financial information for the simulated securities portfolio of the requesting player in an event the requesting player determines that the proposed data would produce the first type of result; and

updating the portfolio database in the server with the revised financial information for the simulated securities portfolio of the requesting player upon the requesting player submitting the transaction;

wherein the revised financial information for the simulated securities portfolio of the requesting player is based on the proposed data entered into the tradescreen and the current financial information for the simulated securities portfolio of the requesting player.

2. The method claimed in claim 1, further comprising:

transmitting the tradescreen to the requesting player.

3. The method claimed in claim 2, further comprising:

executing the tradescreen to calculate the revised financial information for the simulated securities portfolios of the requesting player based on the proposed data entered into the tradescreen.

4. The method claimed in claim 1, further comprising:

providing the tradescreen with

financial information representing a current state of the simulated securities portfolio;

financial information representing a current state of any holdings within the simulated securities portfolio of a selected financial instrument;

fields for entry of data;

routines for calculating the revised financial information representing a revised state of the simulated securities portfolio reflecting changes that will occur if the proposed data is submitted; and

routines for calculating the revised financial information representing a revised state of the holdings within the simulated securities portfolio of the selected financial instrument reflecting changes that will occur if the proposed data is submitted.

5. The method of claim 1, further comprising:

receiving a request for a financial position report for the simulated securities portfolio of the requesting player;

calculating current asset, liability, and equity balances for the simulated securities portfolios of the requesting player as a whole using current prices for securities held in the simulated securities portfolios, wherein the liability balances include balances that reflect obligations that would result if all securities held in the simulated securities portfolios were liquidated at said current prices;

generating a financial position report for the simulated securities portfolio that presents the asset, liability, and equity balances of the simulated securities portfolio in a double entry format; and

transmitting the financial position report to the requesting player.

6. The method claimed in claim 5, further comprising:

associating the asset, liability, and equity balances displayed in the financial position report with hyperlinks to corresponding reports supporting the respective balances.

7. The method claimed in claim 5, further comprising:

calculating revenue and expense balances for the simulated securities portfolio as a whole during a given period of time, wherein the sum of the revenue balances less the sum of the expense balances equals the net worth after taxes of the simulated securities portfolio as a whole during said period of time;

wherein said financial position report further comprises a profit and loss section presenting said revenue and expense balances and said net worth after taxes for said period of time.

8. The method claimed in claim 7, further comprising:

associating the revenue and expense balances of the profit and loss section with hyperlinks to corresponding reports supporting the respective balances.

9. The method claimed in claim 5, further comprising:

saving the financial position report for later display.

10. The method claimed in claim 1, wherein the current financial information for the simulated securities portfolio for each of the plurality of players is retrieved from the portfolio database.

11. The method claimed in claim 10, wherein the revised financial information for the simulated securities portfolio of the requesting player replaces the current financial information for the simulated securities portfolio of the requesting player in the portfolio database when the requesting player submits the proposed data.

12. The method claimed in claim 1, wherein the tradescreen is customized to a selected financial instrument and a type of action to be taken.

13. The method claimed in claim 12,

wherein the selected financial instrument is a stock;

and

wherein the type of action to be taken is one of opening a long position in the stock, closing a long position in the stock, opening a short position in the stock, and closing a short position in the stock.

14. The method claimed in claim 12,

wherein the selected financial instrument is an option;

and

wherein the type of action to be taken is one of opening a long position in the option, closing a long position in the option by an offsetting transaction, opening a short position in the option by exercising the option, closing a short position in the option by expiration of the option, opening a covered short position in the option, closing a covered short position in the option by an offsetting transaction, closing a covered short position in the option by exercising the option, and closing a covered short position in the option by expiration of the option.

15. The method of claim 1, wherein providing an interface on the tradescreen comprises enabling the requesting player to not submit the transaction corresponding to the proposed data entered into the tradescreen in an event the requesting player determines that the proposed data would produce the second type of result.

16. The method of claim 1,

wherein the first type of result comprises a result that is deemed appropriate by the requesting player;

and

wherein the second type of result comprises a result that is deemed inappropriate by the requesting player.

17. An apparatus for operating a gaming system comprising:

a programmable device configured to

     1) open and close simulated positions of real world securities in simulated securities portfolios for a plurality of players in accordance with instructions provided by each of the plurality of players, and

     2) track performances of the simulated securities portfolio of each of the plurality of players relative to one of (i) performances of the simulated securities portfolios of the other players, and (ii) one or more of a securities index;

a portfolio database for the simulated securities portfolios for each of the plurality of players, wherein each simulated securities portfolio has current financial information associated with the respective simulated securities portfolio; and

a tradescreen generated based on the portfolio database in response to a request of a requesting player of the plurality of players, the tradescreen for displaying the current financial information for the simulated securities portfolio of the requesting player, and for calculating and displaying revised financial information for the simulated securities portfolio of the requesting player, the tradescreen for entering proposed data comprising one of a proposed trade and a proposed transfer, the tradescreen for allowing the requesting player to determine if the proposed data entered into the tradescreen would produce one of a first type of result and a second type of result, the tradescreen having an interface for enabling the requesting player to submit the transaction corresponding to the proposed data entered into the tradescreen to update the portfolio database with the revised financial information for the simulated securities portfolio of the requesting player in an event the requesting player determines that the proposed data would produce the first type of result;

wherein the portfolio database is updated with the revised financial information for the simulated securities portfolio of the requesting player upon the requesting player submitting the transaction; and

wherein the revised financial information for the simulated securities portfolio of the requesting player is based on the proposed data entered into the tradescreen and the current financial information for the simulated securities portfolio of the requesting player.

18. The apparatus claimed in claim 17, further comprising:

a transmission device for transmitting the tradescreen to the requesting player.

19. The apparatus claimed in claim 18, the programmable device further configured to execute the tradescreen to calculate the revised financial information for the simulated securities portfolios of the requesting player based on proposed data entered into the tradescreen.

20. The apparatus claimed in claim 17, wherein the tradescreen comprises:

financial information representing a current state of the simulated securities portfolio;

financial information representing a current state of any holdings within the simulated securities portfolio of a selected financial instrument;

fields for entry of data;

routines for calculating the revised financial information representing a revised state of the simulated securities portfolio reflecting changes that will occur if the proposed data is submitted; and

routines for calculating the revised financial information representing a revised state of the holdings within the simulated securities portfolio of the selected financial instrument reflecting changes that will occur if the proposed data is submitted.

21. The apparatus of claim 17, further comprising:

a receiving device for receiving a request for a financial position report for the simulated securities portfolio of the requesting player, the programmable device further configured to

     1) calculate current asset, liability, and equity balances for the simulated securities portfolios of the requesting player as a whole using current prices for securities held in the simulated securities portfolio, wherein the liability balances include balances that reflect obligations that would result if all securities held in the simulated securities portfolio were liquidated at said current prices,

     2) generate a financial position report for the simulated securities portfolio that presents the asset, liability, and equity balances of the simulated securities portfolio in a double entry format; and

a transmission device for transmitting the financial position report to the requesting player.

22. The apparatus claimed in claim 21, wherein the programmable device is further configured to save the financial position report for later display.

23. The apparatus claimed in claim 21, wherein asset, liability, and equity balances displayed in the financial position report are associated with hyperlinks to corresponding reports supporting the respective balances.

24. The apparatus claimed in claim 21,

the programmable device is further configured to calculate revenue and expense balances for the simulated securities portfolio as a whole during a given period of time;

wherein the sum of the revenue balances less the sum of the expense balances equals the net worth after taxes of the simulated securities portfolio as a whole during said period of time; and

wherein said financial position report further comprises a profit and loss section presenting said revenue and expense balances and said net worth after taxes for said period of time.

25. The apparatus claimed in claim 24, wherein revenue and expense balances of the profit and loss section are associated with hyperlinks to corresponding reports supporting the respective balances.

26. The apparatus claimed in claim 17, wherein the current financial information for the simulated securities portfolio for each of the plurality of players is retrieved from the portfolio database.

27. The apparatus claimed in claim 26, wherein the revised financial information for the simulated securities portfolio of the requesting player replaces the current financial information for the simulated securities portfolio of the requesting player in the portfolio database when the requesting player submits the proposed data.