System and method for operating a competitive sports market based on ranking
First Claim
1. A computer system for providing a market for a plurality of participants to invest in a plurality of shares of corresponding sports competitors, the computer system comprising:
- a central processing unit;
memory coupled to the central processing unit;
a data bus coupled to the central processing unit;
a persistent storage device coupled to the data bus; and
a network interface device coupled to the data bus,the computer system being configured to;
store a plurality of share holdings of the participants;
store a plurality of credit balances of the participants; and
redeem shares at the conclusion of a period,wherein the computer system is configured to redeem shares by calculating an amount that the credit balance of each participant should be modified in accordance with a plurality of values of corresponding ones of the shares at the conclusion of the period and the share holdings of a corresponding participant of the participants,wherein the values of the shares at the conclusion of the period is determined solely based on a benchmark ranking of the sports competitors at the conclusion of the period,wherein the benchmark ranking is an element selected from the group consisting of a sports season ending poll, a ranking based on points earned in accordance with performance in tournaments, a ranking based on a rating system, and a ranking based on an Elo rating system,wherein the benchmark ranking comprises at least three sports competitors, andwherein the value of the shares of a top ranked sports competitor of the at least three sports competitors and the value of the shares of the second ranked sports competitor of the at least three sports competitors are both non-zero.
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Abstract
A method of operating a market for a plurality of participants to invest in a plurality of competitors using a computer system includes: storing a plurality of share holdings of the participants in the computer system; storing a plurality of credit balances of the participants in the computer system; and redeeming shares at the conclusion of a period in the computer system, wherein redeeming shares includes: calculating an amount that the credit balance of each corresponding participant of the participants should be modified in accordance with a plurality of values of corresponding ones of the shares at the conclusion of the period and the share holdings of the corresponding participant, and determining the values of the shares based on a benchmark ranking of the competitors at the conclusion of the period.
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Citations
24 Claims
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1. A computer system for providing a market for a plurality of participants to invest in a plurality of shares of corresponding sports competitors, the computer system comprising:
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a central processing unit; memory coupled to the central processing unit; a data bus coupled to the central processing unit; a persistent storage device coupled to the data bus; and a network interface device coupled to the data bus, the computer system being configured to; store a plurality of share holdings of the participants; store a plurality of credit balances of the participants; and redeem shares at the conclusion of a period, wherein the computer system is configured to redeem shares by calculating an amount that the credit balance of each participant should be modified in accordance with a plurality of values of corresponding ones of the shares at the conclusion of the period and the share holdings of a corresponding participant of the participants, wherein the values of the shares at the conclusion of the period is determined solely based on a benchmark ranking of the sports competitors at the conclusion of the period, wherein the benchmark ranking is an element selected from the group consisting of a sports season ending poll, a ranking based on points earned in accordance with performance in tournaments, a ranking based on a rating system, and a ranking based on an Elo rating system, wherein the benchmark ranking comprises at least three sports competitors, and wherein the value of the shares of a top ranked sports competitor of the at least three sports competitors and the value of the shares of the second ranked sports competitor of the at least three sports competitors are both non-zero. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A method of operating a market for a plurality of participants to invest in a plurality of sports competitors using a computer system, the method comprising:
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storing a plurality of share holdings of the participants in the computer system; storing a plurality of credit balances of the participants in the computer system; and redeeming shares at the conclusion of a period in the computer system, wherein redeeming shares comprises; calculating an amount that the credit balance of each corresponding participant of the participants should be modified in accordance with a plurality of values of corresponding ones of the shares at the conclusion of the period and the share holdings of the corresponding participant, and determining the values of the shares based on a benchmark ranking of the sports competitors at the conclusion of the period, wherein the benchmark ranking is an element selected from the group consisting of a sports season ending poll, a ranking based on points earned in accordance with performance in tournaments, a ranking based on a rating system, and a ranking based on an Elo rating system, wherein the benchmark ranking comprises at least three sports competitors, and wherein the value of the shares of a top ranked sports competitor of the at least three sports competitors and the value of the shares of the second ranked sports competitor of the at least three sports competitors are both non-zero. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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Specification