System and method for offering intraday wagering in a financial market environment

• US 7,711,628 B2
• Filed: 03/05/2004
• Issued: 05/04/2010
• Est. Priority Date: 03/05/2004
• Status: Active Grant

• Current Assignee: Cantor Index LLC
• Original Assignee: Cantor Index LLC
• Inventors: Riches, Guy Iain Oliver, Davie, Christopher John
• Primary Examiner(s): Kalinowski; Alexander
• Assistant Examiner(s): Ebersman; Bruce I
• Application Number:
  US10/795,163
• Publication Number:
  US 20050197939A1
• Time in Patent Office: 2,251 Days
• Field of Search: None
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 50/34 Betting or bookmaking, e.g. Internet betting
• CPC Class Codes: G07F 17/3244 Payment aspects of a gaming system, e.g. payment schemes, setting payout ratio, bonus or consolation prizes
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

A method for providing a wager in a financial market environment is provided that includes presenting an opportunity to make a wager that is based on a moving market line associated with a financial market. An end user is given an opportunity to bet on whether a financial market value will be above or below the moving market line at a designated time. The wager may be accepted from the end user. The wager may be monitored in order to determine whether the financial market value was above or below the moving market line at the designated time.

Claims

1. A method for providing wagering opportunities in a financial market environment, comprising:

receiving by at least one processor of at least one computer a value representing a moving market line associated with a financial market at a first time within one of a plurality of intraday wagering sessions;

determining by the at least one processor a first spread value and a second spread value based on the value representing the moving market line at the first time, wherein the first spread value is above the value of the moving market line and the second spread value is below the value of the moving market line, and wherein the first and second spread values have a first difference at the first time;

causing by the at least one processor an interface screen to be displayed at a user computer, the interface screen comprising the value representing the moving market line, the first and second spread values, and at least one element selectable for a user to make a first and a second wager that are each based on the moving market line, a third wager based on the first spread value, and a fourth wager based on the second spread value, wherein the first wager is associated with a rise in the financial market value such that the value of the moving market line at a second time in the one of the plurality of intraday wagering sessions will be above the moving market line at the first time, the second wager is associated with a decline in the financial market value such that the moving market line at the second time in the one of the plurality of intraday wagering sessions will be below the moving market line at the first time, the third wager is associated with a rise in the financial market value such that the value of the moving market line at the second time in the one of the plurality of intraday wagering sessions will be above the first spread value at the first time, and the fourth wager is associated with a decline in the financial market value such that the value of the moving market line at the second time in the one of the plurality of intraday wagering sessions will be below the second spread value at the first time, wherein the interface screen further displays odds associated with each of a plurality of wagers presented therein;

receiving by the at least one processor a value representing the moving market line associated with the financial market at a time later than the first time in the one of a plurality of intraday wagering sessions;

determining by the at least one processor the first spread value and the second spread value at the later time based on the value representing the moving market line at the later time, wherein the first spread value is above the value of the moving market line at the later time and the second spread value is below the value of the moving market line at the later time, and wherein the first and second spread values have a second difference at the later time that is smaller than the first difference;

updating by the at least one processor the interface screen at the user computer to reflect changes to the value representing the moving market line and the first and second spread values at the later time, wherein the odds associated with each of the wagers presented therein remain static for the one of the plurality of intraday wagering sessions;

presenting by the at least one processor an opportunity to make a fifth and a sixth wager that are each based on a low line that has a value at the first time that is a predetermined amount lower than the moving market line at the first time, wherein the fifth wager is associated with a decline in the financial market value such that the moving market line at the second time in the one of the plurality of intraday wagering sessions will be below the low line, the sixth wager being associated with the financial market value such that the moving market line at the second time in the one of the plurality of intraday wagering sessions is above the low line;

accepting by the at least one processor at least one of the plurality of wagers from one or more end users;

monitoring by the at least one processor the wagers in order to determine whether the market line value was above or below the moving market line at the second time; and

settling by the at least one processor the at least one wager after the second time in order to resolve whether one or more of the end users are entitled to a credit or a debit.

2. The method of claim 1, further comprising:

presenting an opportunity to make a seventh and an eighth wager that are each based on a high line that has a value at the first time that is a predetermined amount higher than the value of the moving market line at the first time, wherein the seventh wager is associated with a rise in the financial market value such that the moving market line at the second time in the one of the plurality of intraday wagering sessions will be above the high line, the eighth wager being associated with the financial market value such that the moving market line at the second time in the one of the plurality of intraday wagering sessions is below the high line.

3. The method of claim 1, wherein the second time expires thirty seconds from securing a selected wager associated with the selected designated time interval.

4. The method of claim 1, wherein odds associated with each of the wagers, wherein the odds are based on, at least, a volatility factor, a time factor, and the moving market line.

5. The method of claim 1, wherein the odds provided for the third and fourth wagers are better from a perspective of a participating end user than the odds provided for the first and second wagers.

6. The method of claim 1, wherein odds associated with the first and second wagers are less than 1 and odds associated with the third and fourth wagers are at least 1.

7. The method of claim 6, wherein odds for the first and second wagers are equal.

8. The method of claim 6, wherein odds for the third and second wagers are equal.

9. The method of claim 6, wherein odds for the third and fourth wagers are equal.

10. The method of claim 6, wherein odds for the third and fourth wagers are even odds.

11. The method of claim 2, in which odds displayed at the interface screen for the sixth wager are equal to odds displayed at the interface screen for the seventh wager, and in which odds displayed at the interface screen for the fifth wager are equal to odds displayed at the interface screen for the eighth wager.

12. The method of claim 2, further comprising:

determining by the at least one processor a value associated with the low line at the later time and a value associated with the high line at the later time based on the value representing the moving market line at the later time,

in which (a) a difference between the value associated with the high line at the later time and the value associated with the low line at the later time is less than (b) a difference between the value associated with the high line at the first time and the value associated with the low line at the first time.

13. The method of claim 1, in which the value representing the moving market line associated with the financial market at the first time reflects an actual market level of the financial market at the first time, and in which the value representing the moving market line associated with the financial market at the later time reflects an actual market level of the financial market at the later time.

14. An apparatus for providing wagering opportunities in a financial market environment, comprising:

at least one processor; and

at least one memory that stores instructions which, when executed by the at least one processor, direct the at least one processor to perform the following method;

receiving a value representing a moving market line associated with a financial market at a first time within one of a plurality of intraday wagering sessions;

determining a first spread value and a second spread value based on the value representing the moving market line at the first time, wherein the first spread value is above the value of the moving market line and the second spread value is below the value of the moving market line, and wherein the first and second spread values have a first difference at the first time;

causing an interface screen to be displayed at a user computer, the interface screen comprising the value representing the moving market line, the first and second spread values, and at least one element selectable for a user to make a first and a second wager that are each based on the moving market line, a third wager based on the first spread value, and a fourth wager based on the second spread value, wherein the first wager is associated with a rise in the financial market value such that the value of the moving market line at a second time in the one of the plurality of intraday wagering sessions will be above the moving market line at the first time, the second wager is associated with a decline in the financial market value such that the moving market line at the second time in the one of the plurality of intraday wagering sessions will be below the moving market line at the first time, the third wager is associated with a rise in the financial market value such that the value of the moving market line at the second time in the one of the plurality of intraday wagering sessions will be above the first spread value at the first time, and the forth fourth wager is associated with a decline in the financial market value such that the value of the moving market line at the second time in the one of the plurality of intraday wagering sessions will be below the second spread value at the first time, wherein the interface screen further displays odds associated with each of a plurality of wagers presented therein;

receiving a value representing the moving market line associated with the financial market at a time later than the first time in the one of a plurality of intraday wagering sessions;

determining the first spread value and the second spread value at the later time based on the value representing the moving market line at the later time, wherein the first spread value is above the value of the moving market line at the later time and the second spread value is below the value of the moving market line at the later time, and wherein the first and second spread values have a second difference at the later time that is smaller than the first difference; and

updating the interface screen at the user computer to reflect changes to the value representing the moving market line and the first and second spread values at the later time, wherein the odds associated with each of the wagers presented therein remain static for the one of the plurality of intraday wagering sessions;

presenting an opportunity to make a fifth and a sixth wager that are each based on a low line that has a value at the first time that is a predetermined amount lower than the moving market line at the first time, wherein the fifth wager is associated with a decline in the financial market value such that the moving market line at the second time in the one of the plurality of intraday wagering sessions will be below the low line, the sixth wager being associated with the financial market value such that the moving market line at the second time in the one of the plurality of intraday wagering sessions is above the low line;

accepting at least one of the plurality of wagers from one or more end users;

monitoring the wagers in order to determine whether the market line value was above or below the moving market line at the second time; and

settling at least one wager after the second time in order to resolve whether one or more of the end users are entitled to a credit or a debit.

15. The system of claim 14, further comprising:

presenting an opportunity to make a seventh and an eighth wager that are each based on a high line that has a value at the first time that is a predetermined amount higher than the value of the moving market line at the first time, wherein the seventh wager is associated with a rise in the financial market value such that the moving market line at the second time in the one of the plurality of intraday wagering sessions will be above the high line, the eighth wager being associated with the financial market value such that the moving market line at the second time in the one of the plurality of intraday wagering sessions is below the high line.

16. The system of claim 14, wherein the second time expires thirty seconds from securing a selected wager associated with the selected designated time interval.

17. The method of claim 14, wherein odds associated with each of the wagers are based on, at least, a volatility factor, a time factor, and the moving market line.

18. The system of claim 14, wherein the odds provided for the third and fourth wagers are better from a perspective of a participating end user than the odds provided for the first and second wagers.

19. The system of claim 14, wherein odds associated with the first and second wagers are less than 1 and odds associated with the third and fourth wagers are at least 1.

20. The system of claim 19, wherein odds for the first and second wagers are equal.

21. The system of claim 19, wherein odds for the third and second wagers are equal.

22. The method of claim 19, wherein odds for the third and fourth wagers are equal.

23. The method of claim 14, wherein odds for the third and fourth wagers are even odds.

24. The method of claim 15, in which odds displayed at the interface screen for the sixth wager are equal to odds displayed at the interface screen for the seventh wager, and in which odds displayed at the interface screen for the fifth wager are equal to odds displayed at the interface screen for the eighth wager.

25. The method of claim 15, further comprising:

determining by the at least one processor a value associated with the low line at the later time and a value associated with the high line at the later time based on the value representing the moving market line at the later time,

in which (a) a difference between the value associated with the high line at the later time and the value associated with the low line at the later time is less than (b) a difference between the value associated with the high line at the first time and the value associated with the low line at the first time.

26. The method of claim 14, in which the value representing the moving market line associated with the financial market at the first time reflects an actual market level of the financial market at the first time, and in which the value representing the moving market line associated with the financial market at the later time reflects an actual market level of the financial market at the later time.