Real-time interactive wagering on event outcomes

• US 8,641,511 B2
• Filed: 12/28/2011
• Issued: 02/04/2014
• Est. Priority Date: 05/01/2000
• Status: Expired due to Fees

• Current Assignee: Interactive Games LLC (Cantor Fitzgerald, L.P.)
• Original Assignee: CFPH LLC (Cantor Fitzgerald, L.P.)
• Inventors: Ginsberg, Philip M., Lutnick, Howard W., Findlay, Lewis, Gilbert, Andrew C.
• Primary Examiner(s): Coburn, Corbett B
• Application Number:
  US13/338,539
• Publication Number:
  US 20120100918A1
• Time in Patent Office: 769 Days
• Field of Search: 463/21
• US Class Current: 463/21
• CPC Class Codes: A63F 3/081 electric
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 50/34 Betting or bookmaking, e.g. Internet betting
• CPC Class Codes: G07F 17/32 for games, toys, sports, or amusements
• CPC Class Codes: G07F 17/3227 Configuring a gaming machine, e.g. downloading personal settings, selecting working parameters
• CPC Class Codes: G07F 17/323 wherein the player is informed, e.g. advertisements, odds, instructions
• CPC Class Codes: G07F 17/3241 Security aspects of a gaming system, e.g. detecting cheating, device integrity, surveillance computer security G06F21/00
• 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 17/3251 involving media of variable value, e.g. programmable cards, programmable tokens
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

Systems and methods for real-time interactive wagering on event outcomes are presented. Clients are first qualified and given wagering limits before being allowed to interactively wager on event outcomes. Event outcomes may be based on, for example, financial markets and indices, sporting and entertainment events, casino performances, and natural phenomena such as weather and earthquakes. Events on which wagers can be placed include both those with known and unknown outcome probabilities, and wagers can be a fixed-odds type or a spread-bet type. Wager transactions, including acceptances and confirmations, are executed in real time. Clients can customize displays of events on which they are authorized to wager. Real-time client credit management, automatic dealer hedging, automatic price-spread adjustments, and automatic client and dealer defined wagering limits are also provided.

Claims

1. A method comprising:

opening, by a computer system, a wagering account for a client that may be used to place wagers;

establishing, by the computer system, an amount of consideration in the wagering account;

after opening the wagering account and establishing the amount of consideration, authorizing, by the computer system, the client to access the wagering account from a mobile device by verifying login credentials of the client received from the mobile device;

determining, by the computer system, a set of events on which the client is authorized to wager;

allowing, by the computer system, the client to establish a self-imposed limit on wagering activity using the wagering account, in which the self-imposed limit includes at least one of a loss of an amount of consideration, a loss of an amount of consideration over a time period, a loss of a percentage of total consideration in the wagering account, and a loss of a percentage of total consideration in the wagering account over a time period;

presenting, by the computer system, to the client through the mobile device, a display of at least some of the set of event, in which the display includes a respective odds associated with wagers on each of the at least some of the set of events;

receiving, by the computer system, a first offer from the client to enter into a wager on an event;

receiving, by the computer system, a second offer from another client to enter into an opposite side of the wager on the event;

matching, by the computer system, the first offer and the second offer in response to receiving the first offer and the second offer;

in response to matching the first offer and thee second offer, forming, by the computer system, one wager with the client against a house and forming one other wager with the other client against the house; and

managing, by the computer system, the amount of consideration in the wagering account based on placement of the one wager and an outcome of the one wager.

2. The method of claim 1, further comprising:

receiving a request to adjust the display of the at least some of the set of events based on a user defined customization; and

in response to receiving the request, adjusting the display to present at least some of a subset of the set of events that matches the user defined customization.

3. The method of claim 2, further comprising:

overriding the adjusted display to include at least one of a new event and a featured event.

4. The method of claim 1, further comprising:

adjusting odds displayed to the client in response to the house adjusting the odds for wagering on the respective event.

5. The method of claim 1, in which at least one event includes an event that is resolved based on an aggregate of outcomes of a plurality of games played in one or more casinos.

6. The method of claim 5, in which the plurality of games include slot machine games.

7. The method of claim 5, in which the aggregate outcomes includes a sum of winnings from the games.

8. The method of claim 1, further comprising:

receiving a request to place a wager on a first event of the at least some of the set of events from the client;

determining that a respective odds associated in the display with the event has changed; and

in response to determining that the respective odds has changed, confirming with the client that the client accepts the changed odds for the wager rather than the respective odds.

9. The method of claim 1, further comprising:

maintaining a maximum wager amount that is independent of the amount of consideration in the wagering account that the client may wager on a particular event.

10. The method of claim 1, further comprising:

selecting the at least some of the set of events based on a preference received from the client.

11. The method of claim 1, in which authorizing the client further includes determining that a third party qualification test is passed by the client.

12. The method of claim 1, in which at least one of the set of events includes a sporting event.

13. The method of claim 1, comprising:

determining a historical success rate of the client based one wagering activity from the wagering account;

in response to receiving a wager on an event from the client, determining that the house should hedge against a loss to the client based on the historical success rate of the client; and

in response to determining that the house should hedge, performing at least one of;

a) adjusting the odds for future wagers on the event based on the historical success rate and a size of the wager, and

b) entering into an offsetting wager with another house, in which the size of the offsetting wager is based on the historical success rate and the size of the wager.

14. A method comprising:

establishing, by the computer system, an amount of consideration in a gaming account of a client;

determining, by the computer system, a set of events on which the client is authorized to risk in games that are based on the set of events;

selecting, by the computer system, at least some of the set of events based on historical games in which money was risked by the client;

presenting, by the computer system, to the client through a mobile device, a display including the at least some of the set of event based at least in part on the selecting of the at least some of the set of events; and

managing, by the computer system, the amount of consideration in the gaming account based on play of one or more games based on one or more of the set of events and outcomes of the one or more games, in which the client has the chance to win money through play of the one or more games depending on the outcomes of the one or more games.

15. The method of claim 14, comprising:

receiving a first offer from the client to enter into a first game based on an event;

receiving a second offer from another client to enter into an opposite side of the first game based on the event;

matching the first offer and the second offer in response to receiving the first offer and the second offer; and

forming one obligation to pay the first client for winning the first game with the client and forming one other obligation to pay the second client for winning the first game with the other client.

16. A method comprising:

opening, by a computer system, a gaming account for a client;

establishing, by the computer system, an amount of consideration in the gaming account of the client, in which the money may be used to play games;

after opening the gaming account and establishing the amount of consideration, authorizing, by the computer system, the client to access the gaming account from a computing device by verifying login credentials of the client received from the computing device;

determining, by the computer system, a set of events on which the games are based;

presenting, by the computer system, to the client through the computing device, a display indicating at least some of the set of event;

receiving, by the computer system, a first request from the client to enter into a game based on at least one event;

receiving, by the computer system, a second request from another client to enter into an opposite side of the game based on the at least one event;

matching, by the computer system, the first request and the second request in response to receiving the first offer and the second offer into the game, in which the game includes a game between the client and the other client;

forming, by the computer system, one obligation with a gaming operator to pay the first client for winning the game with the client and forming one other obligation with the gaming operator to pay the second client for winning the game with the other client; and

managing, by the computer system, the amount of consideration in the wagering account credits based on placement of the one or more wagers and outcomes of the one or more wagers.

17. An apparatus comprising:

a computing device; and

a non-transitory medium having stored thereon a plurality of instructions that, when executed, cause the apparatus to;

establish an amount of consideration in a wagering account of a client;

determine a set of events on which the client is authorized to wager;

allow the client to establish a self-imposed limit on wagering activity using the wagering account, in which the self-imposed limit includes at least one of a loss of an amount of consideration, a loss of an amount of consideration over a time period, a loss of a percentage of total consideration in the wagering account, and a loss of a percentage of total consideration in the wagering account over a time period;

select at least some of the set of events based on historical wages by the client;

present to the client through a mobile device, a display of at least some of the set of event based at least in part on selecting the at least some of the set of events; and

manage the amount of consideration in the wagering account based on placement of one or more wagers and outcomes of the one or more wagers.