REAL-TIME INTERACTIVE WAGERING ON EVENT OUTCOMES

• US 20120100918A1
• Filed: 12/28/2011
• Published: 04/26/2012
• Est. Priority Date: 05/01/2000
• Status: Active Grant

• Current Assignee: Interactive Games LLC (Cantor Fitzgerald, L.P.)
• Original Assignee: CFPH LLC (Cantor Fitzgerald, L.P.)
• Inventors: Lutnick, Howard W., Gilbert, Andrew C., Gilbert, Mary Ann, Findlay, Lewis, GINSBERG, Philip M.
• Granted Patent: US 8,641,511 B2
• Time in Patent Office: Days
• US Class Current: 463/42
• CPC Class Codes: A63F 3/081 electric
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• 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 17/3227 Configuring a gaming machine, e.g. downloading personal settings, selecting working parameters
• CPC Class Codes: G07F 17/323 wherein the player is informed, e.g. advertisements, odds, instructions
• CPC Class Codes: G07F 17/3241 Security aspects of a gaming system, e.g. detecting cheating, device integrity, surveillance computer security G06F21/00
• 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 17/3251 involving media of variable value, e.g. programmable cards, programmable tokens
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

Systems and methods for real-time interactive wagering on event outcomes are presented. Clients are first qualified and given wagering limits before being allowed to interactively wager on event outcomes. Event outcomes may be based on, for example, financial markets and indices, sporting and entertainment events, casino performances, and natural phenomena such as weather and earthquakes. Events on which wagers can be placed include both those with known and unknown outcome probabilities, and wagers can be a fixed-odds type or a spread-bet type. Wager transactions, including acceptances and confirmations, are executed in real time. Clients can customize displays of events on which they are authorized to wager. Real-time client credit management, automatic dealer hedging, automatic price-spread adjustments, and automatic client and dealer defined wagering limits are also provided.

Claims

1-10. -10. (canceled)

11. A method comprising:

opening, by a computer system, a wagering account for a client that may be used to place wagers against a house;

establishing, by the computer system, an amount of consideration in the wagering account;

after opening the wagering account and establishing the amount of consideration, authorizing, by the computer system, the client to access the wagering account from a cellular telephone by verifying login credentials of the client received from the cellular telephone;

determining, by the computer system, a set of events on which the client is authorized to wager against the house;

allowing the client to establish a self-imposed limit on wagering activity using the wagering account, in which the self-imposed limit includes at least one of a loss of an amount of consideration, a loss of an amount of consideration over a time period, a loss of a percentage of total consideration in the wagering account, and a loss of a percentage of total consideration in the wagering account over a time period;

presenting, by the computer system, to the client through the cellular telephone, a display of at least some of the set of event, in which the display includes a respective odds associated with wagers on each of the at least some of the set of events;

allowing, by the computer system, the client to place one or more wagers against the house on one or more of the set of events from the cellular telephone using at least a part of the consideration in the wagering account; and

managing, by the computer system, the amount of consideration in the wagering account credits based on placement of the one or more wagers and outcomes of the one or more wagers.

12. The method of claim 11, further comprising:

receiving a request to adjust the display of the at least some of the set of events based on a user defined customization; and

in response to receiving the request, adjusting the display to present at least some of a subset of the set of events that matches the user defined customization.

13. The method of claim 12, further comprising:

overriding the adjusted display to include at least one of a new event and a featured event.

14. The method of claim 11, further comprising:

adjusting at least one of the respective odds in response to the house adjusting the odds for wagering on the respective event.

15. The method of claim 11, in which at least one event includes an event that is resolved based on an aggregate of outcomes of a plurality of games played in one or more casinos.

16. The method of claim 15, in which the plurality of games include slot machine games.

17. The method of claim 15, in which the aggregate outcomes includes a sum of winnings from the games.

18. The method of claim 11, further comprising:

receiving a request to place a wager on a first event of the at least some of the set of events from the client;

determining that a respective odds associated in the display with the event has changed; and

in response to determining that the respective odds has changed, confirming with the client that the client accepts the changed odds for the wager rather than the respective odds.

19. The method of claim 11, further comprising:

maintaining a maximum wager amount that is independent of the amount of consideration in the wagering account that the client may wager on a particular event.

20. The method of claim 11, further comprising:

selecting the at least some of the set of events based on a preference received from the client.

21. The method of claim 11, further comprising:

selecting the at least some of the set of events based on historical wagers by the client.

22. The method of claim 11, in which authorizing the client further includes determining that a third party qualification test is passed by the client.

23. The method of claim 11, in which at least one of the set of events includes a sporting event.

24. A method comprising:

opening, by a computer system, a wagering account for a client that may be used to place wagers;

establishing, by the computer system, an amount of consideration in the wagering account;

after opening the wagering account and establishing the amount of consideration, authorizing, by the computer system, the client to access the wagering account from a cellular telephone by verifying login credentials of the client received from the cellular telephone;

receiving, by the computer system, a first offer from the client to enter into a wager on an event;

receiving, by the computer system, a second offer from another client to enter into an opposite side of the wager on the event;

matching, by the computer system, the first offer and the second offer in response to receiving the first offer and the second offer;

forming at least one wager with the client and the other client in response to matching the first offer and the second offer.

25. The method of claim 24, in which forming the at least one wager includes forming a wager between the client and the other client.

26. The method of claim 24, in which forming the at least one wager includes forming a first wager with the client and a house and forming a second wager with the other client and the house.

27. A method comprising:

opening, by a computer system, a plurality of wagering account for a plurality of clients that may be used to place wagers against a house on a plurality of events;

determining, by the computer system, a historical success rate of a first client when wagering using a respective account;

determining, by the computer system, odds for wagers on a particular event that may be placed by one or more of the plurality of clients;

receiving a wager on the particular event with the odds from the first client;

in response to receiving the wager, determining that the house should hedge against a loss to the first client based on the historical success rate of the first client; and

in response to determining that the house should hedge, performing at least one of;

a) adjusting the odds for future wagers on the event based on the historical success rate and a size of the wager, and

b) entering into an offsetting wager with another house, in which the size of the offsetting wager is based on the historical success rate and the size of the wager.