System and method for wagering-based transferable financial instruments
First Claim
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1. A method, comprising:
- receiving, by a computing system from a computing device in use by a second party, a request to purchase a financial instrument,wherein the financial instrument is for sale by a first party,wherein the financial instrument represents at least one of ownership of and an interest in an underlying wager,wherein the underlying wager comprises a wager on at least one potential outcome from spins of at least one roulette wheel,wherein a point count is maintained for the financial instrument, the point count comprising an indication of a value of the financial instrument, andwherein the computing system and computing device are communicatively coupled via a communications network;
based at least in part on the request to purchase the financial instrument, transferring by the computing system the financial instrument from the first party to the second party for a price, wherein the transferring of the financial instrument results in the first party no longer having ownership of or interest in the underlying wager and the second party having at least one of ownership of and interest in the underlying wager;
receiving by the computing system a plurality of results from a plurality of spins of the at least one roulette wheel;
settling by the computing system the financial instrument, wherein settling the financial instrument includes determining, based at least in part on the wager and the results, one of;
an amount of a payment due to the second party, andan amount of a payment owed by the second party; and
wherein the method further comprises;
adjusting by the computing system the point count based at least in part on a subset of the plurality of results; and
communicating by the computing system the point count to the second party via the computing device.
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Abstract
An apparatus for providing a financial instrument comprises a memory operable to store a plurality of predefined states wherein each of the predefined states corresponds to at least one potential outcome of a probabilistic event. The memory further stores a plurality of predefined termination criteria wherein each predefined state corresponds to at least one predefined termination criteria. The memory further stores a financial instrument that is allocated a value based at least in part upon one of the plurality of predefined states. A processor is coupled to the memory and facilitates the transfer of the financial instrument.
239 Citations
42 Claims
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1. A method, comprising:
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receiving, by a computing system from a computing device in use by a second party, a request to purchase a financial instrument, wherein the financial instrument is for sale by a first party, wherein the financial instrument represents at least one of ownership of and an interest in an underlying wager, wherein the underlying wager comprises a wager on at least one potential outcome from spins of at least one roulette wheel, wherein a point count is maintained for the financial instrument, the point count comprising an indication of a value of the financial instrument, and wherein the computing system and computing device are communicatively coupled via a communications network; based at least in part on the request to purchase the financial instrument, transferring by the computing system the financial instrument from the first party to the second party for a price, wherein the transferring of the financial instrument results in the first party no longer having ownership of or interest in the underlying wager and the second party having at least one of ownership of and interest in the underlying wager; receiving by the computing system a plurality of results from a plurality of spins of the at least one roulette wheel; settling by the computing system the financial instrument, wherein settling the financial instrument includes determining, based at least in part on the wager and the results, one of; an amount of a payment due to the second party, and an amount of a payment owed by the second party; and wherein the method further comprises;
adjusting by the computing system the point count based at least in part on a subset of the plurality of results; and
communicating by the computing system the point count to the second party via the computing device. - View Dependent Claims (2)
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3. A method, comprising:
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receiving, by a computing system from a computing device in use by a second party, a request to purchase a financial instrument, wherein the financial instrument is for sale by a first party, wherein the financial instrument represents at least one of ownership of and an interest in an underlying wager, wherein the underlying wager comprises a wager on at least one potential outcome from spins of a plurality of different roulette wheels, wherein a point count is maintained for the financial instrument, the point count comprising an indication of a value of the financial instrument, and wherein the computing system and computing device are communicatively coupled via a communications network; based at least in part on the request to purchase the financial instrument, transferring by the computing system the financial instrument from the first party to the second party for a price, wherein the transferring of the financial instrument results in the first party no longer having ownership of or interest in the underlying wager and the second party having at least one of ownership of and interest in the underlying wager; receiving by the computing system a plurality of results from a plurality of spins of the plurality of different roulette wheels; and settling by the computing system the financial instrument, wherein settling the financial instrument includes determining, based at least in part on the wager and the results, one of; an amount of a payment due to the second party, and an amount of a payment owed by the second party; and wherein the method further comprises; adjusting by the computing system the point count based at least in part on a subset of the plurality of results; and communicating by the computing system the point count to the second party via the computing device. - View Dependent Claims (4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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22. An apparatus, comprising:
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at least one processor; and at least one memory device electronically coupled to the at least one processor, in which the at least one memory device stores instructions which, when executed by the at least one processor, direct the at least one processor to; receive from a computing device in use by a second party a request to purchase a financial instrument, wherein the financial instrument is for sale by a first party, wherein the financial instrument represents at least one of ownership of and an interest in an underlying wager, wherein the underlying wager comprises a wager on at least one potential outcome from spins of at least one roulette wheel, wherein a point count is maintained for the financial instrument, the point count comprising an indication of a value of the financial instrument, and wherein the apparatus is operable to communicate with the computing device via a communications network; based at least in part on the request to purchase the financial instrument, transfer the financial instrument from the first party to the second party for a price, wherein transferring the financial instrument results in the first party no longer having ownership of or interest in the underlying wager and the second party having at least one of ownership of and interest in the underlying wager; receive a plurality of results from a plurality of spins of the at least one roulette wheel; and settle the financial instrument, wherein to settle the financial instrument includes to determine, based at least in part on the wager and the results, one of; an amount of a payment due to the second party, and an amount of a payment owed by the second party; and wherein the instructions, when executed by the at least one processor, further direct the at least one processor to; adjust the point count based at least in part on a subset of the plurality of results; and communicate the point count to the second party via the computing device. - View Dependent Claims (23)
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24. An apparatus, comprising:
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at least one processor; and at least one memory device electronically coupled to the at least one processor, in which the at least one memory device stores instructions which, when executed by the at least one processor, direct the at least one processor to; receive from a computing device in use by a second party a request to purchase a financial instrument, wherein the financial instrument is for sale by a first party, wherein the financial instrument represents at least one of ownership of and an interest in an underlying wager, wherein the underlying wager comprises a wager on at least one potential outcome from spins of a plurality of different roulette wheels, wherein a point count is maintained for the financial instrument, the point count comprising an indication of a value of the financial instrument, and wherein the apparatus is operable to communicate with the computing device via a communications network; based at least in part on the request to purchase the financial instrument, transfer the financial instrument from the first party to the second party for a price, wherein transferring the financial instrument results in the first party no longer having ownership of or interest in the underlying wager and the second party having at least one of ownership of and interest in the underlying wager; receive a plurality of results from a plurality of spins of the plurality of different roulette wheels; and settle the financial instrument, wherein to settle the financial instrument includes to determine, based at least in part on the wager and the results, one of; an amount of a payment due to the second party, and an amount of a payment owed by the second party; and wherein the instructions, when executed by the at least one processor, further direct the at least one processor to; adjust the point count based at least in part on a subset of the plurality of results; and communicate the point count to the second party via the computing device. - View Dependent Claims (25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42)
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Specification