System and method for providing access to and managing account activity for an online account

• US 7,996,297 B2
• Filed: 04/23/2004
• Issued: 08/09/2011
• Est. Priority Date: 05/15/2003
• Status: Active Grant

• Current Assignee: Cantor Index LLC
• Original Assignee: Cantor Index LLC
• Inventors: Crosthwaite, Dominic, Findlay, Lewis C.
• Primary Examiner(s): Kramer; James A
• Assistant Examiner(s): Vezeris; James A
• Application Number:
  US10/831,501
• Publication Number:
  US 20040230515A1
• Time in Patent Office: 2,664 Days
• Field of Search: 705/35, 705/37
• 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 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/34 Betting or bookmaking, e.g. Internet betting
• CPC Class Codes: G07F 15/00 Coin-freed apparatus with meter-controlled dispensing of liquid, gas or electricity
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

A method of providing an account is provided. The method includes receiving identification information associated with a user during a communication session and communicating a request for credit information, the request including at least a portion of the identification information. The requested credit information is received and an account is approved and opened based at least on the received credit information. During the communication session, a request made using the opened account to place a first order to trade a first product is received. A risk value for the first order is determined. One or more current balances for the account are also determined. The method further includes determining whether to approve the first order based at least on the risk value determined for the first order and one or more of the current balances for the account, and if the first order is approved, placing the first order.

Claims

1. A method comprising the steps of:

receiving by at least one processor from a first user a first order, wherein the first order comprises a bet on at least one sporting event, and wherein the first user has an associated account;

determining by the at least one processor a risk factor associated with the at least one sporting event, wherein the risk factor comprises an amount that a user could lose by wagering one unit of currency on the at least one sporting event, and wherein the risk factor is determined based at least in part on statistical data regarding the at least one sporting event;

based at least in part on the risk factor, determining by the at least one processor a risk value for the first user'"'"'s first order, wherein the risk value comprises an amount that the first user could lose on the bet on the at least one sporting event;

comparing by the at least one processor the risk value to at least one balance associated with the account and/or to at least one value determined from the at least one balance;

approving by the at least one processor the first user'"'"'s first order based at least in part on the comparison of the risk value to the at least one balance and/or to the at least one value determined from the at least one balance;

based at least in part on approving the first user'"'"'s first order, making by the at least one processor the first user'"'"'s first order available for matching with other orders;

receiving by the at least one processor from the first user a second order, wherein the second order comprises another bet, and comprises or defines a wager amount;

receiving by the at least one processor from a second user an order, the second user'"'"'s order comprising a bet on the at least one sporting event;

matching by the at least one processor at least a portion of the first user'"'"'s first order with at least a portion of the second user'"'"'s order; and

based at least in part on matching the at least portion of the first user'"'"'s first order with the at least portion of the second user'"'"'s order, automatically reducing by the at least one processor the wager amount of the first user'"'"'s second order.

2. The method of claim 1, wherein the risk factor is determined based at least in part on an estimated maximum tick liability associated with the at least one sporting event.

4. The method of claim 1, further comprising the step of reducing by the at least one processor the at least one balance associated with the account based at least in part on:

the risk value determined for the first user'"'"'s first order, and

matching the first user'"'"'s first order with the second user'"'"'s order.

5. The method of claim 1,

wherein the at least one sporting event has a duration;

and

wherein the method further comprises the steps of;

updating by the at least one processor the risk value for the first user'"'"'s first order during the duration of the at least one sporting event; and

updating by the at least one processor the at least one balance associated with the account based at least in part on the updated risk value for the first user'"'"'s first order.

8. The method of claim 1, wherein matching the at least portion of the first user'"'"'s first order with the at least portion of the second user'"'"'s order comprises establishing a bet between the first user and the second user on the at least one sporting event.

9. The method of claim 1,

wherein the method further comprises the step of:

based at least in part on matching the at least portion of the first user'"'"'s first order with the at least portion of the second user'"'"'s order, updating by the at least one processor the at least one balance associated with the account; and

wherein reducing the wager amount of the first user'"'"'s second order comprises reducing the wager amount based at least in part on updating the at least one balance.

10. The method of claim 9,

wherein the method further comprises the step of:

based at least in part on the wager amount of the first user'"'"'s second order, determining by the at least one processor a risk value for the first user'"'"'s second order, wherein the risk value for the first user'"'"'s second order comprises an amount that the first user could lose on the another bet; and

wherein reducing the wager amount of the first user'"'"'s second order comprises reducing the wager amount based at least in part on the risk value for the first user'"'"'s second order and updating the at least one balance.

11. The method of claim 10,

wherein the method further comprises the step of:

comparing by the at least one processor the risk value for the first user'"'"'s second order to the at least one updated balance and/or to at least one value determined from the at least one updated balance; and

wherein reducing the wager amount of the first user'"'"'s second order comprises reducing the wager amount based at least in part on comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to the at least one value determined from the at least one updated balance.

12. The method of claim 11,

wherein the method further comprises the step of:

based at least in part on comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to the at least one value determined from the at least one updated balance, determining by the at least one processor that the risk value for the first user'"'"'s second order exceeds the at least one updated balance and/or the at least one value determined from the at least one updated balance; and

wherein reducing the wager amount of the first user'"'"'s second order comprises reducing the wager amount based at least in part on determining that the risk value for the first user'"'"'s second order exceeds the at least one updated balance and/or the at least one value determined from the at least one updated balance.

13. The method of claim 12, wherein reducing the wager amount comprises reducing the wager amount such that a risk value that is based at least in part on the reduced wager amount does not exceed the at least one updated balance and/or the at least one value determined from the at least one updated balance.

14. The method of claim 12,

wherein the method further comprises the step of:

based at least in part on the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating by the at least one processor the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein updating the at least one balance associated with the account comprises updating the at least one balance by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

15. The method of claim 9,

wherein the method further comprises the step of:

based at least in part on the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating by the at least one processor the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein updating the at least one balance associated with the account comprises updating the at least one balance by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

16. The method of claim 1,

wherein the method further comprises the step of:

based at least in part on the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating by the at least one processor the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein reducing the wager amount of the first user'"'"'s second order comprises reducing the wager amount by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

17. The method of claim 1,

wherein the at least one sporting event has an overall duration;

and

wherein the method further comprises the step of;

during the duration of the at least one sporting event and after reducing the wager amount, automatically increasing by the at least one processor the wager amount of the first user'"'"'s second order.

18. The method of claim 17, wherein increasing the wager amount of the first user'"'"'s second order comprises increasing the wager amount back to the wager amount'"'"'s original value.

19. The method of claim 17,

wherein the method further comprises the step of:

based at least in part on event results of the at least one sporting event that occur during the duration of the at least one sporting event, updating by the at least one processor the at least one balance associated with the account; and

wherein increasing the wager amount of the first user'"'"'s second order comprises increasing the wager amount based at least in part on updating the at least one balance.

20. The method of claim 19,

wherein the method further comprises the step of:

based at least in part on the reduced wager amount of the first user'"'"'s second order, determining by the at least one processor a risk value for the first user'"'"'s second order, wherein the risk value for the first user'"'"'s second order comprises an amount that the first user could lose on the another bet; and

wherein increasing the wager amount of the first user'"'"'s second order comprises increasing the wager amount based at least in part on the risk value for the first user'"'"'s second order and updating the at least one balance.

21. The method of claim 20,

wherein the method further comprises the step of:

comparing by the at least one processor the risk value for the first user'"'"'s second order to the at least one updated balance and/or to at least one value determined from the at least one updated balance; and

wherein increasing the wager amount of the first user'"'"'s second order comprises increasing the wager amount based at least in part on comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to the at least one value determined from the at least one updated balance.

22. The method of claim 21,

wherein the method further comprises the step of:

based at least in part on comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to the at least one value determined from the at least one updated balance, determining by the at least one processor that the risk value for the first user'"'"'s second order does not exceed the at least one updated balance and/or the at least one value determined from the at least one updated balance; and

wherein increasing the wager amount of the first user'"'"'s second order comprises increasing the wager amount based at least in part on determining that the risk value for the first user'"'"'s second order does not exceed the at least one updated balance and/or the at least one value determined from the at least one updated balance.

23. The method of claim 22, wherein increasing the wager amount comprises increasing the wager amount such that a risk value that is based at least in part on the increased wager amount does not exceed the at least one updated balance and/or the at least one value determined from the at least one updated balance.

24. The method of claim 22,

wherein the method further comprises the step of:

based at least in part on the event results and the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating by the at least one processor the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein updating the at least one balance associated with the account comprises updating the at least one balance by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

25. The method of claim 19,

wherein the method further comprises the step of:

based at least in part on the event results and the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating by the at least one processor the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein updating the at least one balance associated with the account comprises updating the at least one balance by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

26. The method of claim 17,

wherein the method further comprises the step of:

based at least in part on;

(a) event results of the at least one sporting event that occur during the duration of the at least one sporting event, and

(b) the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order,

dating by the at least one processor the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein increasing the wager amount of the first user'"'"'s second order comprises increasing the wager amount by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

27. The method of claim 1,

wherein the at least one sporting event has an overall duration;

and

wherein the method further comprises the step of;

during the duration of the at least one sporting event and after initially reducing the wager amount, automatically further reducing by the at least one processor the wager amount of the first user'"'"'s second order.

28. The method of claim 27,

wherein the method further comprises the step of:

based at least in part on event results of the at least one sporting event that occur during the duration of the at least one sporting event, updating by the at least one processor the at least one balance associated with the account; and

wherein further reducing the wager amount of the first user'"'"'s second order comprises further reducing the wager amount based at least in part on updating the at least one balance.

29. The method of claim 28,

wherein the method further comprises the step of:

based at least in part on the initially reduced wager amount of the first user'"'"'s second order, determining by the at least one processor a risk value for the first user'"'"'s second order, wherein the risk value for the first user'"'"'s second order comprises an amount that the first user could lose on the another bet; and

wherein further reducing the wager amount of the first user'"'"'s second order comprises further reducing the wager amount based at least in part on the risk value for the first user'"'"'s second order and updating the at least one balance.

30. The method of claim 29,

wherein the method further comprises the step of:

comparing by the at least one processor the risk value for the first user'"'"'s second order to the at least one updated balance and/or to at least one value determined from the at least one updated balance; and

wherein further reducing the wager amount of the first user'"'"'s second order comprises further reducing the wager amount based at least in part on the comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to the at least one value determined from the at least one updated balance.

31. The method of claim 30,

wherein the method further comprises the step of:

based at least in part on comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to the at least one value determined from the at least one updated balance, determining by the at least one processor that the risk value for the first user'"'"'s second order exceeds the at least one updated balance and/or the at least one value determined from the at least one updated balance; and

wherein further reducing the wager amount of the first user'"'"'s second order comprises further reducing the wager amount based at least in part on determining that the risk value for the first user'"'"'s second order exceeds the at least one updated balance and/or the at least one value determined from the at least one updated balance.

32. The method of claim 31, wherein further reducing the wager amount comprises further reducing the wager amount such that a risk value that is based at least in part on the further reduced wager amount does not exceed the at least one updated balance and/or the at least one value determined from the at least one updated balance.

33. The method of claim 31,

wherein the method further comprises the step of:

based at least in part on the event results and the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating by the at least one processor the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein updating the at least one balance associated with the account comprises updating the at least one balance by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

34. The method of claim 28,

wherein the method further comprises the step of:

based at least in part on the event results and the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating by the at least one processor the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein updating the at least one balance associated with the account comprises updating the at least one balance by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

35. The method of claim 27,

wherein the method further comprises the step of:

based at least in part on;

(a) event results of the at least one sporting event that occur during the duration of the at least one sporting event, and

(b) the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order,

updating determining by the at least one processor the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein further reducing the wager amount of the first user'"'"'s second order comprises further reducing the wager amount by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

36. The method of claim 1,

wherein the at least one sporting event has an overall duration;

wherein the method further comprises the step of;

during the duration of the at least one sporting event and after initially reducing the wager amount, automatically canceling by the at least one processor the first user'"'"'s second order.

37. The method of claim 1,

wherein the at least one sporting event has an overall duration;

wherein the method further comprises the step of;

during the duration of the at least one sporting event and after initially reducing the wager amount, automatically putting on hold by the at least one processor the first user'"'"'s second order.

3. The method of 1, wherein the risk factor is determined based at least in part on an actual maximum tick liability associated with the at least one sporting event and an estimated maximum tick liability associated with the at least one sporting event.

6. An apparatus comprising:

at least one processor; and

a memory, in which the memory stores instructions which, when executed by the at least one processor, direct the at least one processor to perform a method of;

receiving from a first user a first order, wherein the first order comprises a bet on at least one sporting event, and wherein the first user has an associated account;

determining a risk factor associated with the at least one sporting event, wherein the risk factor comprises an amount that a user could lose by wagering one unit of currency on the at least one sporting event, and wherein the risk factor is determined based at least in part on statistical data regarding the at least one sporting event;

based at least in part on the risk factor, determining a risk value for the first user'"'"'s first order, wherein the risk value comprises an amount that the first user could lose on the bet on the at least one sporting event;

comparing the risk value to at least one balance associated with the account and/or to at least one value determined from the at least one balance;

approving the first user'"'"'s first order based at least in part on the comparison of the risk value to the at least one balance and/or to the at least one value determined from the at least one balance;

based at least in part on approving the first user'"'"'s first order, making the first user'"'"'s first order available for matching with other orders;

receiving from the first user a second order, wherein the second order comprises another bet, and comprises or a wager amount;

receiving from a second user an order, the second user'"'"'s order comprising a bet on the at least one sporting event;

matching at least a portion of the first user'"'"'s first order with at least a portion of the second user'"'"'s order; and

based at least in part on matching the at least portion of the first user'"'"'s first order with the at least portion of the second user'"'"'s order, automatically reducing the wager amount of the first user'"'"'s second order.

7. The apparatus of claim 6,

wherein the at least one sporting event has a duration;

and

wherein the method further comprises the steps of;

updating the risk value for the first user'"'"'s first order during the duration of the at least one sporting event; and

updating the at least one balance associated with the account based at least in part on the updated risk value for the first user'"'"'s first order.

38. The apparatus of claim 6, wherein matching the at least portion of the first user'"'"'s first order with the at least portion of the second user'"'"'s order comprises establishing a bet between the first user and the second user on the at least one sporting event.

39. The apparatus of claim 6,

wherein the method further comprises the step of:

based at least in part on matching the at least portion of the first user'"'"'s first order with the at least portion of the second user'"'"'s order, updating the at least one balance associated with the account; and

wherein reducing the wager amount of the first user'"'"'s second order comprises reducing the wager amount based at least in part on updating the at least one balance.

40. The apparatus of claim 39,

wherein the method further comprises the step of:

based at least in part on the wager amount of the first user'"'"'s second order, determining a risk value for the first user'"'"'s second order, wherein the risk value for the first user'"'"'s second order comprises an amount that the first user could lose on the another bet; and

wherein reducing the wager amount of the first user'"'"'s second order comprises reducing the wager amount based at least in part on the risk value for the first user'"'"'s second order and updating the at least one balance.

41. The apparatus of claim 40,

wherein the method further comprises the step of:

comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to at least one value determined from the at least one updated balance; and

wherein reducing the wager amount of the first user'"'"'s second order comprises reducing the wager amount based at least in part on comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to the at least one value determined from the at least one updated balance.

42. The apparatus of claim 41,

wherein the method further comprises the step of:

based at least in part on comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to the at least one value determined from the at least one updated balance, determining that the risk value for the first user'"'"'s second order exceeds the at least one updated balance and/or the at least one value determined from the at least one updated balance; and

wherein reducing the wager amount of the first user'"'"'s second order comprises reducing the wager amount based at least in part on determining that the risk value for the first user'"'"'s second order exceeds the at least one updated balance and/or the at least one value determined from the at least one updated balance.

43. The apparatus of claim 42,

wherein the method further comprises the step of:

based at least in part on the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein updating the at least one balance associated with the account comprises updating the at least one balance by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

44. The apparatus of claim 39,

wherein the method further comprises the step of:

based at least in part on the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein updating the at least one balance associated with the account comprises updating the at least one balance by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

45. The apparatus of claim 6,

wherein the method further comprises the step of:

based at least in part on the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein reducing the wager amount of the first user'"'"'s second order comprises reducing the wager amount by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

46. The apparatus of claim 6,

wherein the at least one sporting event has an overall duration;

and

wherein the method further comprises the step of;

during the duration of the at least one sporting event and after reducing the wager amount, automatically increasing the wager amount of the first user'"'"'s second order.

47. The apparatus of claim 46,

wherein the method further comprises the step of:

based at least in part on event results of the at least one sporting event that occur during the duration of the at least one sporting event, updating the at least one balance associated with the account; and

wherein increasing the wager amount of the first user'"'"'s second order comprises increasing the wager amount based at least in part on updating the at least one balance.

48. The apparatus of claim 47,

wherein the method further comprises the step of:

based at least in part on the reduced wager amount of the first user'"'"'s second order, determining a risk value for the first user'"'"'s second order, wherein the risk value for the first user'"'"'s second order comprises an amount that the first user could lose on the another bet; and

wherein increasing the wager amount of the first user'"'"'s second order comprises increasing the wager amount based at least in part on the risk value for the first user'"'"'s second order and updating the at least one balance.

49. The apparatus of claim 48,

wherein the method further comprises the step of:

comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to at least one value determined from the at least one updated balance; and

wherein increasing the wager amount of the first user'"'"'s second order comprises increasing the wager amount based at least in part on comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to the at least one value determined from the at least one updated balance.

50. The apparatus of claim 49,

wherein the method further comprises the step of:

based at least in part on comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to the at least one value determined from the at least one updated balance, determining that the risk value for the first user'"'"'s second order does not exceed the at least one updated balance and/or the at least one value determined from the at least one updated balance; and

wherein increasing the wager amount of the first user'"'"'s second order comprises increasing the wager amount based at least in part on determining that the risk value for the first user'"'"'s second order does not exceed the at least one updated balance and/or the at least one value determined from the at least one updated balance.

51. The apparatus of claim 50,

wherein the method further comprises the step of:

based at least in part on the event results and the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein updating the at least one balance associated with the account comprises updating the at least one balance by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

52. The apparatus of claim 47,

wherein the method further comprises the step of:

based at least in part on the event results and the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein updating the at least one balance associated with the account comprises updating the at least one balance by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

53. The apparatus of claim 46,

wherein the method further comprises the step of:

based at least in part on;

(a) event results of the at least one sporting event that occur during the duration of the at least one sporting event, and

(b) the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order,

updating the risk value for the first user'"'"'s first order,

wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein increasing the wager amount of the first user'"'"'s second order comprises increasing the wager amount by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

54. The apparatus of claim 6,

wherein the at least one sporting event has an overall duration;

and

wherein the method further comprises the step of;

during the duration of the at least one sporting event and after initially reducing the wager amount, automatically further reducing the wager amount of the first user'"'"'s second order.

55. The apparatus of claim 51,

wherein the method further comprises the step of:

based at least in part on event results of the at least one sporting event that occur during the duration of the at least one sporting event, updating the at least one balance associated with the account; and

wherein further reducing the wager amount of the first user'"'"'s second order comprises further reducing the wager amount based at least in part on updating the at least one balance.

56. The apparatus of claim 55,

wherein the method further comprises the step of:

based at least in part on the initially reduced wager amount of the first user'"'"'s second order, determining a risk value for the first user'"'"'s second order,

wherein the risk value for the first user'"'"'s second order comprises an amount that the first user could lose on the another bet; and

wherein further reducing the wager amount of the first user'"'"'s second order comprises further reducing the wager amount based at least in part on the risk value for the first user'"'"'s second order and updating the at least one balance.

57. The apparatus of claim 56,

wherein the method further comprises the step of:

comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to at least one value determined from the at least one updated balance; and

wherein further reducing the wager amount of the first user'"'"'s second order comprises further reducing the wager amount based at least in part on comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to the at least one value determined from the at least one updated balance.

58. The apparatus of claim 57,

wherein the method further comprises the step of:

based at least in part on comparing the risk value for the first user'"'"'s second order to the at least one updated balance and/or to the at least one value determined from the at least one updated balance, determining that the risk value for the first user'"'"'s second order exceeds the at least one updated balance and/or the at least one value determined from the at least one updated balance; and

wherein further reducing the wager amount of the first user'"'"'s second order comprises further reducing the wager amount based at least in part on determining that the risk value for the first user'"'"'s second order exceeds the at least one updated balance and/or the at least one value determined from the at least one updated balance.

59. The apparatus of claim 58,

wherein the method further comprises the step of:

based at least in part on the event results and the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein updating the at least one balance associated with the account comprises updating the at least one balance by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

60. The apparatus of claim 55,

wherein the method further comprises the step of:

based at least in part on the event results and the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order, updating the risk value for the first user'"'"'s first order, wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein updating the at least one balance associated with the account comprises updating the at least one balance by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

61. The apparatus of claim 54,

wherein the method further comprises the step of:

based at least in part on;

(a) event results of the at least one sporting event that occur during the duration of the at least one sporting event, and

(b) the at least portion of the first user'"'"'s first order that is matched with the at least portion of the second user'"'"'s order,

determining a updating the risk value for the first user'"'"'s first order,

wherein the updated risk value for the first user'"'"'s first order comprises an amount that the first user could lose on the bet on the at least one sporting event; and

wherein further reducing the wager amount of the first user'"'"'s second order comprises further reducing the wager amount by an amount that is based at least in part on the updated risk value for the first user'"'"'s first order.

62. The apparatus of claim 6,

wherein the at least one sporting event has an overall duration;

wherein the method further comprises the step of;

during the duration of the at least one sporting event and after initially reducing the wager amount, automatically canceling the first user'"'"'s second order.