Managing risk associated with betting transactions
First Claim
1. A method comprising:
- receiving by at least one processor from a first user a first order, wherein the first order comprises a bet on a sporting event, and wherein the first user has an associated account;
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 sporting event;
matching by the at least one processor the first user'"'"'s first order with the second user'"'"'s order;
based at least in part on matching the first user'"'"'s first order with the second user'"'"'s order, adjusting by the at least one processor at least one balance associated with the account,based at least in part on adjusting the at least one balance, automatically reducing by the at least one processor the wager amount of the first user'"'"'s second order.
1 Assignment
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Accused Products
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.
107 Citations
18 Claims
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1. A method comprising:
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receiving by at least one processor from a first user a first order, wherein the first order comprises a bet on a sporting event, and wherein the first user has an associated account; 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 sporting event; matching by the at least one processor the first user'"'"'s first order with the second user'"'"'s order; based at least in part on matching the first user'"'"'s first order with the second user'"'"'s order, adjusting by the at least one processor at least one balance associated with the account, based at least in part on adjusting the at least one balance, automatically reducing by the at least one processor the wager amount of the first user'"'"'s second order. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. An apparatus comprising:
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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 a sporting event, and wherein the first user has an associated account; receiving from the first user a second order, wherein the second order comprises another bet, and comprises or defines a wager amount; receiving from a second user an order, the second user'"'"'s order comprising a bet on the sporting event; matching the first user'"'"'s first order with the second user'"'"'s order; based at least in part on matching the first user'"'"'s first order with the second user'"'"'s order, adjusting at least one balance associated with the account, based at least in part on adjusting the at least one balance, automatically reducing the wager amount of the first user'"'"'s second order. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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Specification