Internet based system and method for wagering on an artist

• US 9,760,963 B2
• Filed: 08/06/2015
• Issued: 09/12/2017
• Est. Priority Date: 02/11/2008
• Status: Expired due to Fees

• Current Assignee: Popular Metrics, Inc.
• Original Assignee: Popular Metrics, Inc.
• Inventors: Freeman, Duncan, Elmore, John
• Primary Examiner(s): Cao, Phuong Thao
• Application Number:
  US14/819,805
• Publication Number:
  US 20150339794A1
• Time in Patent Office: 768 Days
• 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

Examples of systems and methods for wagering on an artist are disclosed. In one example according to aspects of the present disclosure, a computer implemented method for wagering on an artist includes: obtaining, by an electronic exchange of a wagering system server, an initial value for a metric related to the artist from a popularity profiling system server; receiving, by the electronic exchange, a transaction request from a client computer, wherein the transaction request relates to a wager on a future value of the metric related to the artist; generating, by the electronic exchange, a wager metric related to the transaction; and predicting, by a prediction engine of a wagering system server, the future value of the metric related to the artist based on the initial value of the metric and the wager metric.

Claims

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

a popularity profiling system server comprising a processor and a memory coupled to the processor, wherein the memory stores executable instructions for causing the processor to determine a plurality of metrics related to the popularity profile of the artist, wherein at least one metric of the plurality of metrics is based on sentiment analysis performed by the popularity profiling system server, wherein the sentiment analysis comprises analyzing sentiments comprised in published reviews of the artist by a plurality of consumers; and

a wagering system server comprising

an electronic exchange comprising a processor and a memory coupled to the processor, wherein the memory stores executable instructions for causing the processor to

obtain an initial value of each metric related to the popularity profile of the artist from popularity profiling system server,

receive a plurality of transaction requests from a plurality of client computers in communication with the wagering system server, each transaction request related to a wager on a future value of at least one metric related to the popularity profile of the artist, and

generate a plurality of wager metrics related to the plurality of transaction requests; and

a prediction engine comprising a processor and a memory coupled to the processor, wherein the memory stores executable instructions for causing the processor to

obtain the plurality of wager metrics and the initial value of the at least one metric related to the popularity profile of the artist, and

predict the future value of the at least one metric related to the popularity profile of the artist based on the initial value of the at least one metric related to the popularity profile of the artist and each wager metric.

2. The computer system of claim 1, wherein each wager metric comprises at least one of an amount of the wager, a wager payout, a duration of the wager, a wager outcome, an actual wager outcome, and a historical win/loss record of a participant.

3. The computer system of claim 1, wherein the prediction engine is configured to make multiple predictions for the future value of the at least one metric related to the popularity profile of the artist.

4. The computer system of claim 1, wherein the prediction engine is configured to make a prediction for the future value of the at least one metric related to the popularity profile of the artist based on a trend estimation technique applied to a plurality of historical values of the at least one metric related to the popularity profile of the artist.

5. The computer system of claim 1, wherein the prediction engine is configured to make a prediction for the future value of the at least one metric related to the popularity profile of the artist based on one of a percentage of artists within a population of artists exhibiting the initial value of the at least one metric related to the popularity profile of the artist, a momentum of the at least one metric as measured by the popularity profiling system server, a duration of a wager period, and other wagers for the at least one metric related to the popularity profile of the artist.

6. The computer system of claim 1, wherein the electronic exchange is configured to determine a wager payout amount based on a wager amount and a payout factor.

7. The computer system of claim 6, wherein the electronic exchange is configured to determine a payout factor based on the future value of the at least one metric related to the popularity profile of the artist.

8. The computer system of claim 1, wherein the at least one metric related to the popularity profile of the artist is a qualitative metric related to the popularity profile of the artist.

9. The computer system of claim 1, wherein the at least one metric related to the popularity profile of the artist is a quantitative metric related to the popularity profile of the artist.

10. The computer system of claim 1, wherein the wager includes a wager amount, a threshold value, and an expiration date and time, and wherein the prediction engine is configured to predict the future value of the at least one metric related to the popularity profile of the artist at the expiration date and time.

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

determining, by a popularity profiling system server, a plurality of metrics related to the popularity profile of the artist, wherein at least one metric of the plurality of metrics is based on sentiment analysis performed by the popularity profiling system server;

obtaining, by an electronic exchange of a wagering system server, an initial value for each metric related to the popularity profile of the artist from the popularity profiling system server;

receiving, by the electronic exchange, a transaction request from a client computer, wherein the transaction request relates to a wager on a future value of a particular metric related to the popularity profile of the artist;

generating, by the electronic exchange, a wager metric related to the transaction request; and

predicting, by a prediction engine of a wagering system server, the future value of the particular metric related to the popularity profile of the artist based on the initial value of the particular metric and the wager metric.

12. The method of claim 11, wherein predicting the future value of the particular metric related to the popularity profile of the artist includes making multiple predictions for the future value of the particular metric related to the popularity profile of the artist.

13. The method of claim 11, wherein predicting the future value of the particular metric related to the popularity profile of the artist includes applying a trend estimation technique to a plurality of historical values of the particular metric related to the popularity profile of the artist.

14. The method of claim 11, wherein predicting the future value of the particular metric related to the popularity profile of the artist is based on one of a percentage of artists within a population of artists exhibiting the initial value of the particular metric related to the popularity profile of the artist, a momentum of the particular metric as measured by the popularity profiling system server, a duration of a wager period, and other wagers for the particular metric related to the popularity profile of the artist.

15. The method of claim 11, wherein the wager includes a wager amount, a threshold value, and an expiration date and time, and wherein the future value of the particular metric related to the popularity profile of the artist is predicted at the expiration date and time.

16. A non-transitory tangible computer readable medium having a set of instructions stored therein that when executed by a processing element causing the processing element to perform and/or control operations comprising:

determining, by a popularity profiling system server, a plurality of metrics related to the popularity profile of an artist, wherein at least one metric of the plurality of metrics is based on sentiment analysis performed by the popularity profiling system server;

obtaining, by an electronic exchange of a wagering system server, an initial value for each metric related to the popularity profile of the artist from the popularity profiling system server;

receiving, at an electronic exchange of a wagering system server, a plurality of transaction requests from a plurality of client computers in communication with the wagering system server, wherein each transaction request relates to a wager on a future value of at least one metric related to the popularity profile of the artist;

generating, at the electronic exchange, a plurality of wager metrics related to the plurality of transaction requests; and

predicting, at a prediction engine, the future value of the at least one metric related to the popularity profile of the artist based on the initial value of the at least one metric obtained from the popularity profiling system server and based on each wager metric obtained from the electronic exchange.

17. The non-transitory tangible computer readable medium of claim 16, wherein each wager includes a wager amount, a threshold value, and an expiration date and time, and wherein the future value of the metric related to the popularity profile of the artist is predicted at the expiration date and time.

18. The non-transitory tangible computer readable medium of claim 16, wherein predicting the future value of the at least one metric related to the popularity profile of the artist includes applying a trend estimation technique to a plurality of historical values of the at least one metric related to the popularity profile of the artist.

19. The non-transitory tangible computer readable medium of claim 16, wherein predicting the future value of the at least one metric related to the popularity profile of the artist is based on one of a percentage of artists within a population of artists exhibiting the initial value of the at least one metric related to the popularity profile of the artist, a momentum of the at least one metric as measured by the popularity profiling system server, a duration of a wager period, and other wagers for the at least one metric related to the popularity profile of the artist.

20. The non-transitory tangible computer readable medium of claim 16, wherein the operations further comprise determining a payout factor based on the future value of the metric related to the popularity profile of the artist.