Internet based system and method for wagering on an artist

• US 9,122,749 B2
• Filed: 11/05/2010
• Issued: 09/01/2015
• Est. Priority Date: 02/04/2009
• Status: Expired due to Fees

• Current Assignee: Popular Metrics, Inc.
• Original Assignee: Popular Metrics, Inc.
• Inventors: Elmore, John, Freeman, Duncan
• Primary Examiner(s): Cao, Phuong Thao
• Application Number:
  US12/927,030
• Publication Number:
  US 20110055223A1
• Time in Patent Office: 1,761 Days
• Field of Search: 715/716, 463/42, 707/732, 707/748
• US Class Current: 1/1
• CPC Class Codes: G06F 16/337 Profile generation, learning or modification
• 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 17/3244 Payment aspects of a gaming system, e.g. payment schemes, setting payout ratio, bonus or consolation prizes
• CPC Class Codes: G07F 17/326 Game play aspects of gaming systems
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

This invention relates generally to the field of applications for Internet based websites. Moreover, it pertains specifically to a system and method for wagering on an artist. In the preferred embodiment, system participants use an electronic exchange to place wagers related to the popularity profile of an artist.

Claims

1. A computer system for wagering on a music artist, comprising:

one or more client computers, wherein at least one client computer is configured to send and receive data via the Internet;

a popularity profiling system (PPS) server configured to provide metrics related to the music artist, wherein the metrics include one or more scores representing the popularity of the music artist;

a wagering system server, comprising an electronic exchange implementing computer instructions configured to cause the wagering system server to;

(a) obtain an initial score from the PPS server, wherein the initial score indicates a sentiment of at least one music consumer based on the PPS server applying sentiment analysis to at least one published review by the at least one music consumer of a song performed by the music artist;

(b) process a transaction request by a client computer, wherein the transaction request comprises a wager amount, a threshold value, and an expiration date and time;

(c) deduct the wager amount from the balance of an account associated with the client computer, the account being established and maintained by the wagering system server;

(d) obtain, periodically at a predetermined interval of time and prior to reaching the expiration date and time, one or more subsequent scores from the PPS server that relates to the initial score;

(e) determine, in response to obtaining each of the one or more subsequent scores, whether the difference between the subsequent score and the initial score exceeds the threshold value;

(f) if the difference between the subsequent score and the initial score exceeds the threshold value, determine an award amount based on the wager amount and add the award amount to the balance of the account associated with the client computer; and

(g) if the expiration date and time is reached without determining an award amount, transmit a message to the client computer indicating that the wager was unsuccessful;

wherein the account balance, the wager amount, and the award amount are denominated in a virtual currency;

a client computer interface;

a database server for storing some or all of the data obtained and processed by the wagering system server; and

one or more network interfaces connecting the wagering system server, the popularity profiling system server, the database server, the client computer interface, and the one or more client computers to the Internet, wherein the one or more network interfaces connect the client computer, a database and servers via the Internet, and wherein the client computer, the database server, the PPS server, and the wagering system server, and the client computer interface each operate on separate and distinct physical computers.

2. The computer system of claim 1, wherein the electronic exchange further implements computer instructions configured to cause the wagering system server to process a transaction requested by a client computer, wherein the transaction request relates to an order to sell one or more shares of a predetermined number of shares maintained by the electronic exchange related to an artist, wherein if a sell order is not fulfilled within a time period designated for the sell order, then the sell order is fulfilled by the electronic exchange if an offer price of the sell order equals or exceeds a bid price determined by the wagering system server that is derived from data related to the music artist obtained previously from the popularity profiling system server.

3. The computer system of claim 1, wherein the client computer interface is a web server.

4. The computer system of claim 1, wherein the client computer interface is a widget server.

5. The computer system of claim 1, wherein the metrics obtained from the popularity profiling system server is part of a popularity profile of the music artist.

6. The computer system of claim 1, wherein the wagering system server is comprised also of a prediction engine, wherein the prediction engine makes a prediction about a future outcome of the one or more scores of the metrics based on a trend estimation technique applied to a plurality of scores representing the popularity of the music artist, wherein at least a subset of the plurality of scores was obtained by the wagering system server from the PPS server on at least three different dates.

7. A computer implemented method for wagering on an artist, comprising:

obtaining an initial score related to a music artist'"'"'s popularity profile from a popularity profiling system (PPS) server, wherein the initial score indicates a sentiment of at least one music consumer based on the PPS server applying sentiment analysis to at least one published review by the at least one music consumer of a song performed by the music artist;

processing, by an electronic exchange operating on a wagering system server, a transaction request by a client computer, wherein the transaction request comprises a wager amount, a threshold value, and an expiration date and time;

deducting, by the electronic exchange, the wager amount from the balance of an account associated with a client computer, the account being established and maintained by the wagering system server;

obtaining, by the electronic exchange, periodically at a predetermined interval of time and prior to reaching the expiration date and time, one or more subsequent scores from the PPS server that relates to the initial score;

determining, by the electronic exchange, in response to obtaining each of the one or more subsequent scores, whether the difference between the subsequent score and the initial score exceeds the threshold value;

if the difference between the subsequent score and the initial score exceeds the threshold value, determining, by the electronic exchange an award amount based on the wager amount and add the award amount to the balance of the account associated with the client computer; and

if the expiration date and time is reached without determining an award amount, transmitting, by the electronic exchange, a message to the client computer indicating that the wager was unsuccessful;

wherein the account balance, the wager amount, and the award amount are denominated in a virtual currency.

8. The computer implemented method of claim 7, further comprising making, by the electronic exchange, a prediction of a future outcome of one or more scores of the music artist'"'"'s popularity profile based on a trend estimation technique applied to a plurality of scores representing the popularity of the music artist, wherein at least a subset of the plurality of scores was obtained by the wagering system server from the PPS server on at least three different dates.