System and method for wagering-based transferable financial instruments
First Claim
Patent Images
1. A method, comprising:
- receiving, by a computing system, from a first user a wager at a first price,wherein the wager comprises a wager on at least one potential outcome of combined results from spins of at least one roulette wheel, wherein the spins of the at least one roulette wheel on which the wager is based comprise a defined set of spins, andwherein the computing system receives the wager from the first user via a computing device in use by the first user, the computing system and the computing device being communicatively coupled via a communications network;
prior to a completion of the defined set of spins of the at least one roulette wheel;
receiving, by the computing system, a plurality of results from a plurality of spins of the at least one roulette wheel;
updating, by the computing system, a point count based on the plurality of received results,wherein respective possible results of a roulette wheel spin are assigned respective point values, andwherein updating the point count comprises updating the point count based on the point values assigned to the respective received results;
communicating, by the computing system, the point count to at least the first user;
receiving, by the computing system, a request to transfer the wager; and
based at least in part on receiving the request, transferring, by the computing system, the wager from the first user to a house at a second price, wherein transferring the wager results in the first user no longer having an ownership of or an interest in the wager.
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Abstract
The invention provides a system and method for creating and facilitating the exchange of wagering-based transferable financial instruments. The instruments may be used to embody multiple various positions based upon the ultimate outcomes of uncertain future contingent events, including but not limited to outcomes of games of skill and chance. The invention further provides systems and platforms for monitoring, displaying information, and facilitating trading as to such instruments among multiple investment market participants, and a hosting or house participant, for time-variable buying and selling of such instruments.
235 Citations
34 Claims
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1. A method, comprising:
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receiving, by a computing system, from a first user a wager at a first price, wherein the wager comprises a wager on at least one potential outcome of combined results from spins of at least one roulette wheel, wherein the spins of the at least one roulette wheel on which the wager is based comprise a defined set of spins, and wherein the computing system receives the wager from the first user via a computing device in use by the first user, the computing system and the computing device being communicatively coupled via a communications network; prior to a completion of the defined set of spins of the at least one roulette wheel; receiving, by the computing system, a plurality of results from a plurality of spins of the at least one roulette wheel; updating, by the computing system, a point count based on the plurality of received results, wherein respective possible results of a roulette wheel spin are assigned respective point values, and wherein updating the point count comprises updating the point count based on the point values assigned to the respective received results; communicating, by the computing system, the point count to at least the first user; receiving, by the computing system, a request to transfer the wager; and based at least in part on receiving the request, transferring, by the computing system, the wager from the first user to a house at a second price, wherein transferring the wager results in the first user no longer having an ownership of or an interest in the wager. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. An apparatus, comprising:
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at least one processor; and a memory electronically coupled to the at least one processor, wherein the memory stores instructions which, when executed by the at least one processor, direct the at least one processor to; receive from a first user a wager at a first price, wherein the wager comprises a wager on at least one potential outcome of combined results from spins of at least one roulette wheel, wherein the spins of the at least one roulette wheel on which the wager is based comprise a defined set of spins, and wherein the apparatus is operable to receive the wager from the first user via a computing device in use by the first user, and wherein the apparatus is further operable to communicate with the computing device via a communications network; prior to a completion of the defined set of spins of the at least one roulette wheel; receive a plurality of results from a plurality of spins of the at least one roulette wheel; update a point count based on the plurality of received results, wherein respective possible results of a roulette wheel spin are assigned respective point values, and wherein to update the point count comprises to update the point count based on the point values assigned to the respect received results; communicate the point count to at least the first user; receive a request to transfer the wager; and based at least in part on receiving the request, transfer the wager from the first user to a house at a second price, wherein to transfer the wager results in the first user no longer having an ownership of or an interest in the wager. - View Dependent Claims (19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34)
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Specification