Real-time interactive wagering on event outcomes
First Claim
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1. A method comprising:
- determining a spread for a variable associated with a wagerable event, the spread comprising a value above the variable associated with the wagerable event and a value below the variable associated with the wagerable event;
displaying an interface screen comprising;
the wagerable event,the value above the variable and the value below the variable, andat least one element for a user to submit a buy wager at the value above the variable and a sell wager at the value below the variable, wherein the buy wager has a payout and a loss determined based at least on a difference between a value of the variable at a maturity of the buy wager and the value above the variable, and the sell wager has a payout and a loss determined based at least on a difference between the value of the variable at a maturity of the sell wager and the value below the variable;
receiving a request for one of the buy wager and the sell wager, the request comprising a stake, one of the value above the variable and the value below the variable, anda collar on potential losses on the one of the buy wager and the sell wager;
determining a cap on potential winnings on the one of the buy wager and the sell wager based at least on the collar; and
notifying the user whether the one of the buy wager and the wager has been accepted.
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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 games, 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.
236 Citations
27 Claims
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1. A method comprising:
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determining a spread for a variable associated with a wagerable event, the spread comprising a value above the variable associated with the wagerable event and a value below the variable associated with the wagerable event; displaying an interface screen comprising; the wagerable event, the value above the variable and the value below the variable, and at least one element for a user to submit a buy wager at the value above the variable and a sell wager at the value below the variable, wherein the buy wager has a payout and a loss determined based at least on a difference between a value of the variable at a maturity of the buy wager and the value above the variable, and the sell wager has a payout and a loss determined based at least on a difference between the value of the variable at a maturity of the sell wager and the value below the variable; receiving a request for one of the buy wager and the sell wager, the request comprising a stake, one of the value above the variable and the value below the variable, and a collar on potential losses on the one of the buy wager and the sell wager; determining a cap on potential winnings on the one of the buy wager and the sell wager based at least on the collar; and notifying the user whether the one of the buy wager and the wager has been accepted. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A system comprising at least one computing device having a program associated therewith that when executes enables the at least one computing device to perform a method comprising:
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determining a spread for a variable associated with a wagerable event, the spread comprising a value above the variable associated with the wagerable event and a value below the variable associated with the wagerable event; displaying an interface screen comprising; the wagerable event, the value above the variable and the value below the variable, and at least one element for a user to submit a buy wager at the value above the variable and a sell wager at the value below the variable, wherein the buy wager has a payout and a loss determined based at least on a difference between a value of the variable at a maturity of the buy wager and the value above the variable, and the sell wager has a payout and a loss determined based at least on a difference between the value of the variable at a maturity of the sell wager and the value below the variable; receiving a request for one of the buy wager and the sell wager, the request comprising a stake, one of the value above the variable and the value below the variable, and a collar on potential losses on the one of the buy wager and the sell wager; determining a cap on potential winnings on the one of the buy wager and the sell wager based at least on the collar; and notifying the user whether the one of the buy wager and the sell wager has been accepted. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27)
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Specification
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Current AssigneeCantor Index LLC
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Original AssigneeCantor Index LLC
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InventorsLutnick, Howard W, Asher, Joseph M
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Primary Examiner(s)PEZZUTO, ROBERT ERIC
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Application NumberUS10/410,197Publication NumberTime in Patent Office1,797 DaysField of Search463/25US Class Current463/25CPC Class CodesG06Q 50/34 Betting or bookmaking, e.g....G07F 17/3244 Payment aspects of a gaming...G07F 17/3288 Betting, e.g. on live event...
