Betting exchange system
First Claim
1. A betting exchange system for permitting a plurality of users to bet against one another, the system comprising:
- a server configured to receive bet offers and bet requests from the plurality of users over a communications network, each of said offers specifying a price at which the user originating the offer is prepared to lay a given outcome, together with a bet size offered at said price,the server being arranged to aggregate said offers to provide a first set of information for display to said plurality of users, said first set of information including the best price at which each of the possible outcomes is available to be backed at a given time and the aggregated size available at said best price, and each of said requests specifying a price at which the user originating the request is prepared to back a given outcome, together with a bet sire requested at said price,said server being operable to match said bet offers with said bet requests based on said specified prices and sires,and in the event that the server cannot match said requests at the prices and sizes specified, the server being further arranged to aggregate said bet requests to provide a second set of information for display to said plurality of users, said second set of information including the best price at which each of the possible outcomes is available to be laid at a given time and the aggregated size available #at said best price, andthe server being operable to update the first and second sets of information for display to said users in response to received bet offers and bet requests, such that said users can in real-time see the best price at which they can back or lay any outcome and the total size available at that price,to thereby permit the plurality of users to bet against one another.
1 Assignment
0 Petitions
Reexamination
Accused Products
Abstract
A betting exchange system receiving a plurality of bet requests backing a given outcome, each backing bet request specifying a price and a size at which an originator of the request is prepared to bet that the given outcome will occur. The betting exchange system receiving a plurality of bet requests laying the given outcome, each laying bet request specifying a price and a size at which an originator of the request is prepared to bet that the given outcome will not occur. The betting exchange system aggregating backing bet requests specifying the same price, aggregating laying bet requests specifying the same price, automatically matching a received backing bet request with individual or aggregated laying bet requests to complete a betting transaction, and automatically matching a received laying bet request with individual or aggregated backing bet requests to complete a betting transaction.
-
Citations
35 Claims
-
1. A betting exchange system for permitting a plurality of users to bet against one another, the system comprising:
-
a server configured to receive bet offers and bet requests from the plurality of users over a communications network, each of said offers specifying a price at which the user originating the offer is prepared to lay a given outcome, together with a bet size offered at said price, the server being arranged to aggregate said offers to provide a first set of information for display to said plurality of users, said first set of information including the best price at which each of the possible outcomes is available to be backed at a given time and the aggregated size available at said best price, and each of said requests specifying a price at which the user originating the request is prepared to back a given outcome, together with a bet sire requested at said price, said server being operable to match said bet offers with said bet requests based on said specified prices and sires, and in the event that the server cannot match said requests at the prices and sizes specified, the server being further arranged to aggregate said bet requests to provide a second set of information for display to said plurality of users, said second set of information including the best price at which each of the possible outcomes is available to be laid at a given time and the aggregated size available #at said best price, and the server being operable to update the first and second sets of information for display to said users in response to received bet offers and bet requests, such that said users can in real-time see the best price at which they can back or lay any outcome and the total size available at that price, to thereby permit the plurality of users to bet against one another.
-
-
2. A betting exchange system for permitting a plurality of users to bet against one another, the system comprising:
-
a computer receiving bet offers and bet requests from the plurality of users over a communications network, each of said offers specifying a price at which the user originating the offer is prepared to lay a given outcome, together with a bet size offered at said price, the computer aggregating said offers to provide a first set of information for display to said plurality of users, said first set of information including the best price at which each of the possible outcomes is available to be backed at a given time and the aggregated size available at said best price, and each of said requests specifying a price at which the user originating the request is prepared to back a given outcome, together with a bet sire requested at said price, said computer matching said bet offers with said bet requests based on said specified prices and sizes, and in the event that the computer cannot match said requests at the prices and sizes specified, the computer aggregating said bet requests to provide a second set of information for display to said plurality of users, said second set of information including the best price at which each of the possible outcomes is available to be laid at a given time and the aggregated size available at said best price, and the computer updating the first and second sets of information for display to said users in response to received bet offers and bet requests, such that said users can in real-time see the best price at which they can back or lay any outcome and the total size available at that price, to thereby permit the plurality of users to bet against one another.
-
-
3. A betting exchange system for permitting a plurality of users to bet against one:
- another, the system comprising;
a computer being configured; to receive over a communications network a plurality of bet requests backing a given outcome, each backing bet request specifying a price and a size at which an originator of the request is prepared to bet that the given outcome will occur; to receive over a communications network a plurality of bet requests laying the given outcome, each laying bet request specifying a price and a size at which an originator of the request is prepared to bet that the given outcome will not occur; to aggregate backing bet requests specifying the same price; to aggregate laying bet requests specifying the same price; to automatically match a received backing bet request with individual or aggregated laying bet requests to complete a betting transaction; and to automatically match a received laying bet request with individual or aggregated backing bat requests to complete a betting transaction, to thereby permit the plurality of users to bet against one another. - View Dependent Claims (4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
- another, the system comprising;
-
17. A betting exchange system comprising:
-
means for receiving over a communications network a plurality of bet requests backing a given outcome, each backing bet request specifying a price and a size at which an originator of the request is prepared to bet that the given outcome will occur; means for receiving over a communications network a plurality of bet requests laying the given outcome, each laying bet request specifying a price and a size at which an originator of the request is prepared to bet that the given outcome will not occur; means for aggregating backing bet requests specifying the same price; means for aggregating laying bet requests specifying the same price; means for automatically matching a received backing bet request with individual or aggregated laying bet requests to complete a betting transaction; and means for automatically matching a received laying bet request with individual or aggregated backing bet requests to complete a betting transaction.
-
-
18. A method of operating a betting exchange system comprising:
-
receiving by a computer over communications network a plurality of bet requests backing a given outcome, each backing bet request specifying a price and a size at which an originator of the request is prepared to bet that the given outcome will occur; receiving by the computer over a communications network a plurality of bet requests laying the given outcome, each laying bet request specifying a price and a size at which an originator of the request is prepared t bet that the given outcome will not occur; aggregating, by the computer, backing bet requests specifying the same price; aggregating, by the computer, laying bet requests specifying the same price; automatically matching, by the computer, a received backing bet request with individual or aggregated laying bet requests to complete a betting transaction; and automatically matching, by the computer, a received laying bet request with individual or aggregated backing bet requests to complete a betting transaction. - View Dependent Claims (19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32)
-
-
33. A computer-readable medium having instructions stored thereon that that, when executed by a computer, cause the computer to perform the processes of:
-
receiving over a communications network a plurality of bet requests backing a given outcome, each backing bet request specifying a price and a size at which an originator of the request is prepared to bet that the given outcome will occur; receiving a communications network a plurality of bet requests laying the given outcome, each laying bet request specifying a price and a size at which an originator of the request is prepared to bet that the given outcome will not occur; aggregating backing bet requests specifying the same price; aggregating laying bet requests specifying the same price; automatically matching a backing bet request with individual or aggregated laying bet requests to complete a betting transaction; and automatically matching a received laying bet request with individual or aggregated backing bet requests to complete a betting transaction.
-
-
34. A betting exchange system permitting a plurality of users to bet against one another, the system comprising:
-
a server configured to receive bet offers and bet requests from the plurality of users over a communications network, each of the offers specifying a price at which the user originating the offer is prepared to lay a given outcome, together with a bet size offered at the price, and each of said requests specifying a price at which the user originating the request is prepared to back a given outcome, together with a bet size requested at the price, the server being operable to match the bet offers with the bet requests based on the specified prices and sizes, in the event that the server cannot match bet offers with bet requests, the server being arranged to aggregate unmatched offers to provide a first set of information for display to the plurality of users, the first set of information including the best price at which each of the possible outcomes is available to be backed at a given time and the aggregated size available at the best price, and the server being arranged to aggregate unmatched bet requests to provide a second set of information for display to the plurality of users, the second set of information including the best price at which each of the possible outcomes is available to be laid at a given time and the aggregated size available at the best price, and the server being operable to update the first and second sets of information for display to the users in response to received bet offers and bet requests, such that the users can in real-time see the best price at which they can back or lay any outcome and the total size available at that price, to thereby permit the plurality of users to bet against one another.
-
-
35. A betting exchange system permitting a plurality of users to bet against one another, the system comprising:
-
a server receiving bet offers and bet requests from the plurality of users over a communications network, each of the offers specifying a price at which the user originating the offer is prepared to lay a given outcome, together with a bet size offered at the price, and each of said requests specifying a price at which the user originating the request is prepared to back a given outcome, together with a bet size requested at the price, wherein the server comprises; means for matching the bet offers with the bet requests based on the specified prices and sizes, in the event that the server cannot match bet offers with bet requests, means for aggregating unmatched offers to provide a first set of information which is displayed to the plurality of users, the first set of information including the best price at which each of the possible outcomes is available to be backed at a given time and the aggregated size available at the best price, means for aggregating unmatched bet requests to provide a second set of information which is displayed to the plurality of users, the second set of information including the best price at which each of the possible outcomes is available to be laid at a given time and the aggregated size available at the best price, and means for updating the displayed first and second sets of information in response to received bet offers and bet requests, such that the users can in real-time see the best price at which they can back or lay any outcome and the total size available at that price, to thereby permit the plurality of users to bet against one another.
-
Specification