Wagering on event outcomes during the event
DCFirst Claim
Patent Images
1. A method, comprising:
- receiving by at least one processor state information of a live event in substantially real time, in which the live event comprises a sporting event played by human players according to predetermined rules that are used to determine at least one winner of the sporting event;
after a start of the sporting event, determining by the at least one processor a plurality of possible future states of the sporting event based on the state information, the possible future states occurring before an end of the sporting event;
after a start of the sporting event, creating by the processor a first betting market for betting on at least one of the plurality of possible future states, in which the plurality of users comprises a first user, and in which the act of creating a first betting market comprises;
determining by the processor a probability for each of the plurality of possible future states based on probability information, in which the act of determining a probability comprises determining a probability for at least one of the plurality of possible future states based on probability information and reliability information associated with the probability information;
based at least in part on the probabilities, determining by the processor odds for betting on at least one of the plurality of possible future states; and
causing information about the plurality of possible future states and the odds to be displayed to the plurality of users;
after creating the first betting market, receiving by the processor from a first of a plurality of users a first bet comprising a selection of one of the plurality of possible future states;
after receiving the first bet, closing by the processor the first betting market;
sending from the at least one processor an instruction signal to close the first betting market;
determining by the at least one processor that the possible future state selected by the first user has occurred; and
causing, by the at least one processor, a payout to be paid to the first user based on the first bet and the act of determining that the possible future state selected by the first user has occurred.
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Abstract
Methods and systems are provided for managing a wagering system. In one exemplary embodiment, state information of a live event such as a sports game may be received in real time. During the event, a plurality of possible future states of the event and their associated probabilities (and odds) may be determined based on the state information, historical information, and current in-game information. A betting market is created for betting on the possible future states at determined odds. The betting market is closed, and winning and losing bets are resolved based on updated state information.
255 Citations
22 Claims
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1. A method, comprising:
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receiving by at least one processor state information of a live event in substantially real time, in which the live event comprises a sporting event played by human players according to predetermined rules that are used to determine at least one winner of the sporting event; after a start of the sporting event, determining by the at least one processor a plurality of possible future states of the sporting event based on the state information, the possible future states occurring before an end of the sporting event; after a start of the sporting event, creating by the processor a first betting market for betting on at least one of the plurality of possible future states, in which the plurality of users comprises a first user, and in which the act of creating a first betting market comprises; determining by the processor a probability for each of the plurality of possible future states based on probability information, in which the act of determining a probability comprises determining a probability for at least one of the plurality of possible future states based on probability information and reliability information associated with the probability information; based at least in part on the probabilities, determining by the processor odds for betting on at least one of the plurality of possible future states; and causing information about the plurality of possible future states and the odds to be displayed to the plurality of users; after creating the first betting market, receiving by the processor from a first of a plurality of users a first bet comprising a selection of one of the plurality of possible future states; after receiving the first bet, closing by the processor the first betting market; sending from the at least one processor an instruction signal to close the first betting market; determining by the at least one processor that the possible future state selected by the first user has occurred; and causing, by the at least one processor, a payout to be paid to the first user based on the first bet and the act of determining that the possible future state selected by the first user has occurred. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. An apparatus comprising:
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a touch-sensitive display device comprising a user input device; a processor operably connected to the display; and a memory operably connected to the processor and the display, in which the memory stores instructions which, when executed by the processor, direct the processor to; receive state information of a sporting event played by human players according to predetermined rules that are used to determine at least one winner of the sporting event; determine an initial state and a possible future state of the sporting event based on the state information; receive by the at least one processor probability information from a source; determine by the at least one processor reliability information associated with the received probability information; create a first betting market for betting on the possible future state, in which the plurality of users comprises a first user, in which the act of creating a first betting market comprises; determining a probability for the possible future state; and based on the probability, determining odds for betting on the possible future state based at least in part on the probability information and the reliability information; after creating the first betting market, receive from a first of a plurality of users a first bet that the possible future state will occur; after receiving the first bet, close the first betting market prior to an end time of the initial state; send an instruction signal to close the first betting market; determine that the possible future state occurred; pay a payout to the first user based on the first bet and the act of determining that the possible future state occurred; transmit a live video of the live event in real time to a touch-sensitive display device, the live video comprising an image of a player in the live event; cause the touch-sensitive display device to display an image of the player; receive from the display device an indication that a user touched the image of the player on the touch-sensitive display; in response to receiving the indication, cause the touch-sensitive display device to output betting information related to the player; cause the display device to display a betting menu overlay on the touch-sensitive display, the betting menu overlay comprising at least one image corresponding to a betting option; receive a signal indicating that a user touched the at least one image; and responsive to the signal, determine a selection of the betting option by the user; in which the live video comprises an image of a player, and wherein the touch-sensitive display is operable to output betting information related to the player when the image of the player is touched by a user, and in which the sporting event occurs during an event time duration such that the sporting event begins at the beginning of the event time duration and ends at the end of the event time duration, sporting event comprising a plurality of portions of the event occurring during sequential portions of the event time duration, in which the possible future state occurs at the end of one of the sequential time periods, and in which at least one betting market is created for each of the sequential time periods.
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20. An apparatus, comprising:
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at least one processor; and at least one memory having instructions stored thereon which, when executed by the at least one processor, direct the at least one processor to; receive state information of a live event in substantially real time, in which the live event comprises a sporting event played by human players according to predetermined rules that are used to determine at least one winner of the sporting event; after a start of the sporting event, determine a plurality of possible future states of the sporting event based on the state information, the possible future states occurring before an end of the sporting event; after a start of the sporting event, determine odds for betting on at least one of the plurality of possible future states based on probability information, in which the act of determining odds comprises determining a probability for the at least one of the plurality of possible future states based on probability information and reliability information associated with the probability information; cause information about the at least one the plurality of possible future states and the odds to be displayed to the plurality of users; after creating the first betting market, receive from a first of a plurality of users a first bet comprising a selection of one of the plurality of possible future states; determine that the possible future state selected by the first user has occurred; and cause a payout to be paid to the first user based on the first bet and the act of determining that the possible future state selected by the first user has occurred. - View Dependent Claims (21)
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22. A non-transitory computer-readable medium having instructions stored thereon which, when executed by at least one processor, direct the at least one processor to:
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receive state information of a live event in substantially real time, in which the live event comprises a sporting event played by human players according to predetermined rules that are used to determine at least one winner of the sporting event; after a start of the sporting event, determine a plurality of possible future states of the sporting event based on the state information, the possible future states occurring before an end of the sporting event; after a start of the sporting event, determine odds for betting on at least one of the plurality of possible future states based on probability information, in which the act of determining odds comprises determining a probability for the at least one of the plurality of possible future states based on probability information and reliability information associated with the probability information; cause information about the at least one the plurality of possible future states and the odds to be displayed to the plurality of users; after creating the first betting market, receive from a first of a plurality of users a first bet comprising a selection of one of the plurality of possible future states; determine that the possible future state selected by the first user has occurred; and cause a payout to be paid to the first user based on the first bet and the act of determining that the possible future state selected by the first user has occurred.
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Specification