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

• US 8,805,732 B2
• Filed: 05/03/2011
• Issued: 08/12/2014
• Est. Priority Date: 03/05/2004
• Status: Active Grant

• Current Assignee: Cantor Index LLC
• Original Assignee: Cantor Index LLC
• Inventors: Davie, Christopher John, Riches, Guy Iain Oliver
• Primary Examiner(s): Ebersman, Bruce I
• Application Number:
  US13/099,954
• Publication Number:
  US 20120066149A1
• Time in Patent Office: 1,197 Days
• 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:

presenting, by at least one processor at a first time, an opportunity to make a first wager based on a moving market line associated with a current value of a financial market such that a value of the moving market line increases and decreases over time based on corresponding increases and decreases in the value of the financial market over time, wherein the first wager comprises a bet that (1) the financial market value measured at a first designated ending time within a trading session associated with the financial market value will be greater than (2) a value of the moving market line as measured at the first time,

causing, by the at least one processor, an electronic display device to display the moving market line, a current value of the financial market, and indicia representing an opportunity to make the first wager;

presenting, by the at least one processor at a second time later than the first time, an opportunity to make a second wager based on the moving market line, the second wager comprising a bet that the financial market value at a second designated ending time within the trading session will be less than a value of the moving market line measured at the second time, the value of the moving market line measured at the second time being different from the value of the moving market line measured at the first time, the second designated ending time being different from the first designated ending time,

in which the act of presenting the opportunity to make the first wager comprises presenting first betting odds associated with the first wager and in which the act of presenting the opportunity to make the second wager comprises presenting second betting odds associated with the second wager,

the first betting odds defining a multiplier for determining a possible payout associated with the first betting odds, in which the possible payout associated with the first betting odds is determined based on an amount equal to a product of the first betting odds and an amount wagered at the first betting odds;

receiving, by the at least one processor, a request to make at least one of the first and second wager from one or more end users;

monitoring, by the at least one processor, the at least one of the first and second wager by determining whether the financial market value was above or below the moving market line at at least one of the first and second designated ending times, respectively; and

settling, by the at least one processor, the at least one of the first and second wager after at least one of the first and second designated ending times, respectively, wherein the act of settling comprises determining whether the one or more end users are entitled to a credit.

2. The method of claim 1, further comprising:

presenting, by the at least one processor, an opportunity to make a third and a fourth wager that are each based on a high line, displayed by the electronic display device above the moving market line, that corresponds to an increase in the moving market line, wherein the third wager is associated with a rise in the financial market value such that it will be above the high line at a third designated ending time within the trading session associated with the financial market value, the fourth wager being associated with the financial market value being below the high line at a fourth designated ending time within the trading session.

3. The method of claim 2, further comprising:

presenting, by the at least one opportunity, an opportunity to make a fifth and a sixth wager that are each based on a low line, displayed by the electronic display device below the moving market line, that corresponds to a decrease in the moving market line, wherein the fifth wager is associated with a decline in the financial market value such that it will be below the low line at a fifth designated ending time within the trading session, the sixth wager being associated with the financial market value being above the low line at a sixth designated ending time within the trading session.

4. The method of claim 3, further comprising:

presenting, by the at least one processor, an opportunity to make a seventh and an eighth wager that are based on spread lines that correspond to values above and below the moving market line, respectively, wherein the seventh wager is associated with the financial market value being above a high spread line at a seventh designated ending time within the trading session, the eighth wager being associated with the financial market value being below a low spread line at an eighth designated ending time within the trading session.

5. The method of claim 4, wherein the seventh and eighth wagers are offered at even odds, and wherein the seventh designated ending time is equal to the eighth designated ending time, and wherein the electronic display device displays:

indicia representing an opportunity to make the seventh wager;

indicia representing an opportunity to make the eighth wager;

the high spread line, wherein the high spread line is displayed in a location above the moving market line; and

the low spread line, wherein the low spread line is displayed in a location below the moving market line.

6. The method of claim 4, further comprising:

providing, by the at least one processor, odds associated with each of the wagers, wherein the odds are determined based on, at least, a volatility factor, a time factor, and the moving market line, in which the odds are displayed on the electronic display device.

7. The method of claim 6, wherein odds provided for the seventh and eighth wagers correspond to a substantially lower payout per amount wagered from a perspective of a participating end user than the odds provided for the first and second wagers.

8. The method of claim 1, further comprising:

presenting, by the at least one processor, the opportunity to participate in the wagers to one or more of the end users via a website that is operable to receive input in order to facilitate participation in the wagers by one or more of the end users, in which the moving market line, the current value of the financial market, and the indicia representing an opportunity to make the first wager are displayed on the website.

11. The apparatus of claim 8, wherein the instructions, when executed by the at least one processor, direct the at least one processor to:

offer a third and a fourth wager that are each based on a high line, displayed by the electronic display device above the moving market line, that corresponds to an increase in the moving market line, wherein the third wager is associated with a rise in the financial market value such that it will be above the high line at a third designated ending time within the trading session associated with the financial market value, the fourth wager being associated with the financial market value being below the high line at a fourth designated ending time within the trading session.

12. The apparatus of claim 11, wherein the instructions, when executed by the at least one processor, direct the at least one processor to:

offer a fifth and a sixth wager that are each based on a low line, displayed by the electronic display device below the moving market line, that corresponds to a decrease in the moving market line, wherein the fifth wager is associated with a decline in the financial market value such that it will be below the low line at a fifth designated ending time within the trading session, the sixth wager being associated with the financial market value being above the low line at a sixth designated ending time within the trading session.

13. The apparatus of claim 12, wherein the instructions, when executed by the at least one processor, direct the at least one processor to:

offer a seventh and an eighth wager that are based on spread lines that correspond to values above and below the moving market line, respectively, wherein the seventh wager is associated with the financial market value being above a high spread line at a seventh designated ending time within the trading session, the eighth wager being associated with the financial market value being below a low spread line at an eighth designated ending time within the trading session.

14. The apparatus of claim 13, wherein the instructions, when executed by the at least one processor, direct the at least one processor to:

provide odds associated with each of the wagers, wherein the odds are determined based on, at least, a volatility factor, a time factor, and the moving market line.

15. The apparatus of claim 14, wherein the seventh and eighth wagers are offered at even odds, and wherein the seventh designated ending time is equal to the eighth designated ending time, and wherein the instructions, when executed by the at least one processor, further direct the at least one processor to cause the electronic display device to display:

indicia representing an opportunity to make the seventh wager;

indicia representing an opportunity to make the eighth wager;

the high spread line, wherein the high spread line is displayed in a location above the moving market line; and

the low spread line, wherein the low spread line is displayed in a location below the moving market line.

9. An apparatus comprising:

at least one processor; and

a non-transitory tangible computer-readable medium having instructions stored thereon which, when executed by the at least one processor, direct the at least one processor to;

present at a first time an opportunity to make a first and a second wager to one or more end users, the first and second wagers being based on a moving market line associated with a financial market such that the value of the moving market line increases and decreases over time based on corresponding increases and decreases in the value of the financial market over time, wherein the first wager comprises a bet that the financial market value will rise such that it will be above the present value of the moving market line at a subsequent first designated time within a trading session on a trading day associated with the financial market value, the second wager comprises a bet that the financial market value will decline such that it will be below the present value of the moving market line at a subsequent second designated ending time within the trading session, the second designated ending time being different from the first designated ending time,

cause an electronic display device to display the moving market line, a current value of the financial market, and indicia representing an opportunity to make the first wager and the second wager;

in which the act of presenting the opportunity to make the first wager comprises presenting first betting odds associated with the first wager, and in which the act of presenting the opportunity to make the second wager comprises presenting second betting odds associated with the second wager,

the first betting odds defining a multiplier for determining a possible payout associated with the first betting odds, in which the possible payout associated with the first betting odds is determined based on an amount equal to a product of the first betting odds and an amount wagered at the first betting odds;

receive a request to make the first wager from a first user;

receive a request to make the second wager from a second user;

monitor the first and second wagers by determining whether the financial market value was above or below the moving market line at the first and second designated ending times, respectively; and

settle the at least one of the first and second wager after at least one of the first and second designated ending times, respectively, wherein the act of settling comprises determining whether the one or more end users are entitled to a credit.

10. The apparatus of claim 9, wherein the instructions, when executed by the at least one processor, direct the at least one processor to:

store the first wager as a financial instrument that includes one or more terms associated with the first wager, wherein the terms include a selected one or more of a price associated with the first wager, odds associated with the first wager, and an expiration of the first wager.

16. The apparatus of claim 9, further comprising:

a web server operable to provide a website that offers the opportunity to participate in the wagers to one or more of the end users, the website being operable to receive input in order to facilitate participation in the wagers by one or more of the end users, in which the moving market line, the current value of the financial market, and the indicia representing an opportunity to make the first wager are displayed on the website.

17. The apparatus of claim 9, further comprising:

a financial market data element that is operable to provide data associated with one or more of the wagers to one or more of the end users in order to assist one or more of the end users in participating in the wagers.

18. A non-transitory tangible computer readable medium comprising computer code that when executed is operable to cause at least one processor to:

present at a first time an opportunity to make a first and a second wager that are each based on a moving market line having a value associated with a value of a financial market such that the value of the moving market line increases and decreases over time based on corresponding increases and decreases in the value of the financial market over time, wherein the first wager comprises a bet that the financial market value will rise such that the financial market value will be above a present value of the moving market line at a subsequent first designated ending time within a trading session associated with the financial market value, the second wager comprising a bet that the financial market value will decline such that the financial market value will be below a present value of the moving market line at a subsequent second designated ending time within the trading session, the second designated ending time being different from the first designated ending time,

cause an electronic display device to display the moving market line, a current value of the financial market, and indicia representing an opportunity to make the first wager and the second wager;

in which the act of presenting the opportunity to make the first wager comprises presenting first betting odds associated with the first wager, and in which the act of presenting the opportunity to make the second wager comprises presenting second betting odds associated with the second wager,

the first betting odds defining a multiplier for determining a possible payout associated with the first betting odds, in which the possible payout associated with the first betting odds is determined based on an amount equal to a product of the first betting odds and an amount wagered at the first betting odds;

receive a request to make the first wager from a first user;

receive a request to make the second wager from a second user; and

monitor the first and second wagers by determining whether the financial market value was above or below the moving market line at the first and second designated ending times, respectively;

settle the first and second wagers after the first and second designated ending times, respectively, wherein the act of settling comprises determining whether each of the first user and the second user are entitled to a credit.

19. The non-transitory tangible computer readable medium of claim 18, wherein the code is further operable to cause the at least one processor to:

offer a third and a fourth wager that are each based on a high line, displayed by the electronic display device above the moving market line, that corresponds to an increase in the moving market line, wherein the third wager is associated with a rise in the financial market value such that it will be above the high line at a third designated ending time within the trading session associated with the financial market value, the fourth wager being associated with the financial market value being below the high line at a fourth designated ending time within the trading session.

20. The non-transitory tangible computer readable medium of claim 19, wherein the code is further operable to cause the at least one processor to:

offer a fifth and a sixth wager that are each based on a low line, displayed by the electronic display device below the moving market line, that corresponds to a decrease in the moving market line, wherein the fifth wager is associated with a decline in the financial market value such that it will be below the low line at a fifth designated ending time within the trading session, the sixth wager being associated with the financial market value being above the low line at a sixth designated ending time within the trading session.