System and method for providing an intermediary for a transaction

• US 7,716,113 B2
• Filed: 04/23/2004
• Issued: 05/11/2010
• Est. Priority Date: 05/15/2003
• Status: Active Grant

• Current Assignee: Cantor Index LLC
• Original Assignee: Cantor Index LLC
• Inventors: Crosthwaite, Dominic, Findlay, Lewis C.
• Primary Examiner(s): Havan; Thu-Thao
• Assistant Examiner(s): Hammond, III; Thomas M
• Application Number:
  US10/830,960
• Publication Number:
  US 20040230522A1
• Time in Patent Office: 2,209 Days
• Field of Search: 705 35- 40
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/34 Betting or bookmaking, e.g. Internet betting
• CPC Class Codes: G07F 15/00 Coin-freed apparatus with meter-controlled dispensing of liquid, gas or electricity
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

A method of providing an intermediary for a transaction is provided. The method includes receiving a first request to place a first order to trade a first product at a first price, the first product being associated with one or more events. The first order is placed. The method further includes receiving a second request to place a second order to trade the first product at a second price. The second order is placed. A match between the first order and the second order is identified based at least in part on the first price of the first order and the second price of the second order. A first set of one or more obligations is established based at least in part on the first order, and a second set of one or more obligations is established based at least in part on the second order.

Claims

1. A method comprising:

receiving by at least one server a first order from a first user and a second order from a second user,

wherein the first order comprises a request to place a bet on a sporting event and further comprises or defines an amount that the first user wishes to wager on the sporting event,

wherein the second order comprises a request to place a bet on the sporting event and further comprises or defines an amount that the second user wishes to wager on the sporting event,

wherein the first user has an account that has at least one balance associated therewith,

wherein the second user has an account, and

wherein the first order and the second order are received from the first user and the second user via computer systems in use by the respective first user and second user, the computer systems being coupled to the at least one server over a communications network;

determining by the at least one server a risk value for the first order, wherein the risk value comprises an amount that the first user could lose on the bet associated with the first order;

determining by the at least one server that the risk value does not exceed at least one of (i) the at least one balance and (ii) at least one value determined from the at least one balance;

approving by the at least one server the first order based at least in part on determining that the risk value does not exceed the at least one (i) the at least one balance and (ii) the at least one value determined from the at least one balance;

based at least in part on approving the first order, making by the at least one server the first order available for matching with other orders;

matching by the at least one server the first order with the second order, wherein matching the first order with the second order results in;

the second user owing a payment to the first user when the first user wins the bet associated with the first order, and

the first user owing a payment to the second user when the second user wins the bet associated with the second order;

receiving by the at least one server at least one result of the sporting event;

based at least in part on the at least one result, determining by the at least one server that the first user owes a payout to the second user;

based at least in part on determining that the first user owes the payout to the second user;

(i) determining by the at least one server a first amount to transfer from the account of the first user to an account of a third-party; and

(ii) determining by the at least one server a second amount to transfer from the account of the third-party to the account of the second user; and

after the first user fails to make a payment regarding the first amount, transferring by the at least one server the second amount from the account of the third-party to the account of the second user,

wherein the second amount is transferred from the account of the third-party to the account of the second user even though the first user fails to make a payment regarding the first amount.

2. The method of claim 1,

wherein the first order further comprises or defines a first quote;

wherein the second order further comprises or defines a second quote; and

wherein matching the first order with the second order comprises matching the first order with the second order based at least in part on the first quote and the second quote.

3. The method of claim 2, wherein matching the first order with the second order comprises:

determining that the first quote equals the second quote; and

matching the first order with of the second order based at least in part on determining that the first quote equals the second quote.

4. The method of claim 2, wherein matching the first order with the second order comprises:

determining that the first quote and the second quote differ by more than or equal to a predetermined amount; and

matching the first order with the second order based at least in part on determining that the first quote and the second quote differ by more than or equal to the predetermined amount.

5. The method of claim 2, wherein matching the first order with the second order comprises:

determining that the first quote and the second quote differ by less than or equal to a predetermined amount; and

matching the first order with the second order based at least in part on determining that the first quote and the second quote differ by less than or equal to the predetermined amount.

6. The method of claim 2, wherein the first quote and the second quote each comprises a value associated with possible results of the sporting event.

7. The method of claim 1, wherein the third-party is associated with the at least one server.

8. The method of claim 1, wherein the second amount is less than the first amount by a predetermined amount.

9. The method of claim 1,

wherein the method further comprises determining by the at least one server at least one risk factor associated with the sporting event, the risk factor comprising an amount that a user could lose by wagering one unit of currency on the sporting event;

and

wherein determining the risk value for the first order comprises multiplying the risk factor associated with the sporting event by the wager amount of the first order.

10. The method of claim 1, further comprising:

receiving by the at least one server a third order from a third user and a fourth order from a fourth user,

wherein the third order comprises a request to place a bet on the sporting event,

wherein the fourth order comprises a request to place a bet on the sporting event,

wherein the third user has an account, and

wherein the fourth user has an account;

matching by the at least one server the third order with the fourth order, wherein matching the third order with the fourth order results in;

the fourth user owing a payment to the third user when the third user wins the bet associated with the third order, and

the third user owing a payment to the fourth user when the fourth user wins the bet associated with the fourth order;

based at least in part on the at least one result, determining by the at least one server that the third user owes a payout to the fourth user; and

based at least in part on determining that the third user owes the payout to the fourth user;

(i) determining by the at least one server a third amount to transfer from the account of the third user to the account of the third-party;

(ii) determining by the at least one server a fourth amount to transfer from the account of the third-party to the account of the fourth user;

(iii) transferring by the at least one server the third amount from the account of the third user to the account of the third-party; and

(iv) transferring by the at least one server the fourth amount from the account of the third-party to the account of the fourth user.

11. The method of claim 1,

wherein matching the first order with the second order comprises matching a portion of the first order with the second order;

and

wherein the method further comprises;

receiving by the at least one server a third order from a third user, wherein the third order comprises a request to place a bet on the sporting event; and

matching by the at least one server another portion of the first order with the third order.

12. The method of claim 11,

wherein the wager amount of the first order is greater than the wager amount of the second order;

wherein matching the portion of the first order with the second order comprises matching the first order with the second order at the wager amount of the second order.

13. The method of claim 1, wherein the second amount is less than the first amount by a predetermined amount such that the predetermined amount is retained by the third-party.

14. The method of claim 1, wherein:

transferring the second amount from the account of the third-party to the account of the second user comprises;

crediting the account of the second user by the second amount; and

debiting the account of the third-party by the second amount.

15. The method of claim 1, wherein matching the first order received from the first user with the second order received from the second user comprises establishing a bet between the first user and the second user on the sporting event.

16. The method of claim 1, further comprising:

based at least in part on matching the first order with the second order and the amount that the first user could possibly lose;

establishing by the at least one server at least one obligation between the first user and the third-party, the at least one obligation including an obligation to transfer at least one of funds and credit between the account of the first user and the account of the third-party based at least on potential results of the sporting event; and

establishing by the at least one server at least one obligation between the second user and the third-party, the at least one obligation between the second user and the third-party including an obligation to transfer at least one of funds and credit between the account of the second user and the account of the third-party based at least on the potential results of the sporting event.

17. The method of claim 1, wherein the at least one balance comprises at least one available margin balance.

18. The method of claim 17, further comprising decreasing by the at least one server the at least one available margin balance based at least in part on matching the first order with the second order.

19. The method of claim 1, further comprising:

receiving by the at least one server from the first user another order that is separate from the first order, wherein the another order comprises a request to place a bet, and further comprises or defines an amount the first user wishes to wager; and

based at least in part on matching the first order received from the first user with the second order received from the second user, automatically reducing by the at least one server the wager amount of the another order.

20. The method of claim 19,

wherein the method further comprises:

based at least in part on matching the first order with the second order, updating by the at least one server the at least one balance associated with the account of the first user, the updating resulting in at least one updated balance;

based at least in part on the wager amount of the another order, determining by the at least one server a risk value for the another order, wherein the risk value for the another order comprises an amount that the first user could lose on the bet associated with the another order;

comparing by the at least one server the risk value for the another order to at least one of (i) the at least one updated balance and (ii) at least one value determined from the at least one updated balance; and

based at least in part on comparing the risk value for the another order to the at least one of (i) the at least one updated balance and (ii) the at least one value determined from the at least one updated balance, determining by the at least one server that the risk value for the another order exceeds the at least one of (i) the at least one updated balance and (ii) the at least one value determined from the at least one updated balance; and

wherein reducing the wager amount of the another order comprises reducing the wager amount based at least in part on determining that the risk value for the another order exceeds the at least one of (i) the at least one updated balance and (ii) the at least one value determined from the at least one updated balance.

21. The method of claim 20,

wherein the method further comprises:

based at least in part on matching the first order with the second order, determining by the at least one server an updated risk value for the first order; and

wherein updating the at least one balance comprises reducing the at least one balance by an amount that is based at least in part on the updated risk value for the first order.

22. The method of claim 21,

wherein the sporting event has a duration;

and

wherein the method further comprises;

during the duration of the sporting event and after reducing the wager amount of the another order, automatically increasing by the at least one server the wager amount of the another order.

23. The method of claim 21,

wherein the sporting event has a duration;

and

wherein the method further comprises;

during the duration of the sporting event and after reducing the wager amount of the another order, automatically further reducing by the at least one server the wager amount of the another order.

24. The method of claim 1, further comprising:

receiving by the at least one server from the first user another order that is separate from the first order, wherein the another order comprises a request to place a bet;

based at least in part on;

(a) having matched the first order received from the first user with the second order received from the second user, and

(b) event results of the sporting event that occur during a duration of the sporting event,

adjusting by the at least one server the at least one balance associated with the account of the first user, wherein the adjusting results in at least one adjusted balance, and wherein the adjusting occurs during the duration of the sporting event; and

based at least in part on adjusting the at least one balance, automatically adjusting by the at least one server a wager amount associated with the another order.

25. The method of claim 24,

wherein the method further comprises:

based at least in part on the wager amount associated with the another order, determining by the at least one server a risk value for the another order, wherein the risk value for the another order comprises an amount that the first user could lose on the bet associated with the another order;

comparing by the at least one server the risk value for the another order to at least one of (i) the at least one adjusted balance and (ii) at least one value determined from the at least one adjusted balance; and

based at least in part on comparing the risk value for the another order to the at least one of (i) the at least one adjusted balance and (ii) the at least one value determined from the at least one adjusted balance, determining by the at least one server that the risk value for the another order exceeds the at least one of (i) the at least one adjusted balance and (ii) the at least one value determined from the at least one adjusted balance; and

wherein adjusting the wager amount associated with the another order comprises reducing the wager amount associated with the another order based at least in part on determining that the risk value for the another order exceeds the at least one of (i) the at least one adjusted balance and (ii) the at least one value determined from the at least one adjusted balance.

26. The method of claim 25,

wherein the method further comprises:

based at least in part on;

(a) the event results of the sporting event that occur during the duration of the sporting event, and

(b) having matched the first order with the second order, determining an updated risk value for the first order; and

wherein adjusting the at least one balance associated with the account of the first user comprises reducing the at least one balance by an amount that is based at least in part on the updated risk value for the first order.

27. The method of claim 26,

wherein the another order, when received from the first user, comprises or defines an initial amount the first user wishes to wager;

wherein the method further comprises;

based at least in part on matching the first order with the second order, automatically reducing by the at least one server the initial wager amount, resulting in a reduced wager amount; and

wherein adjusting the wager amount associated with the another order comprises reducing the reduced wager amount.

28. The method of claim 24,

wherein the method further comprises:

based at least in part on the wager amount associated with the another order, determining by the at least one server a risk value for the another order, wherein the risk value for the another order comprises an amount that the first user could lose on the bet associated with the another order;

comparing by the at least one server the risk value for the another order to at least one of (i) the at least one adjusted balance and (ii) at least one value determined from the at least one adjusted balance;

based at least in part on comparing the risk value for the another order to the at least one of (i) the at least one adjusted balance and (ii) the at least one value determined from the at least one adjusted balance, determining by the at least one server that the risk value for the another order does not exceed the at least one of (i) the at least one adjusted balance and (ii) the at least one value determined from the at least one adjusted balance; and

wherein adjusting the wager amount associated with the another order comprises increasing the wager amount associated with the another order based at least in part on determining that the risk value for the another order does not exceed the at least one of (i) the at least one adjusted balance and (ii) the at least one value determined from the at least one adjusted balance.

29. The method of claim 28,

wherein the method further comprises:

based at least in part on;

(a) the event results of the sporting event that occur during the duration of the sporting event, and

(b) having matched the first order with the second order,

determining by the at least one server an updated risk value for the first order; and

wherein adjusting the at least one balance associated with the account of the first user comprises increasing the at least one balance by an amount that is based at least in part on the updated risk value for the first order.

30. The method of claim 29,

wherein the another order, when received from the first user, comprises or defines an initial amount the first user wishes to wager;

wherein the method further comprises;

based at least in part on matching the first order with the second order, automatically reducing by the at least one server the initial wager amount, resulting in a reduced wager amount; and

wherein adjusting the wager amount associated with the another order comprises increasing the reduced wager amount.

31. The method of claim 1, wherein the method further comprises:

based at least in part on (i) event results of the sporting event that occur during a duration of the sporting event and (ii) having matched the first order with the second order, updating by the at least one server the risk value for the first order, wherein the updating occurs during the duration of the sporting event.

32. An apparatus comprising:

at least one processor and;

a memory electronically coupled to the at least one processor, the memory comprising instructions that when executed by the at least one processor, direct the at least one processor to;

receive a first order from a first user and a second order from a second user,

wherein the first order comprises a request to place a bet on a sporting event and further comprises or defines an amount that the first user wishes to wager on the sporting event,

wherein the second order comprises a request to place a bet on the sporting event and further comprises or defines an amount that the second user wishes to wager on the sporting event,

wherein the first user has an account that has at least one balance associated therewith,

wherein the second user has an account, and

wherein the apparatus is operable to receive the first order and the second order via computer systems associated with the respective first user and second user, the apparatus being further operable to communicate with the computer systems over a communications network;

determine a risk value for the first order, wherein the risk value comprises an amount that the first user could lose on the bet associated with the first order;

determine that the risk value does not exceed at least one of (i) the at least one balance and/of (ii) at least one value determined from the at least one balance;

approve the first order based at least in part on determining that the risk value does not exceed the at least one of (i) the at least one balance and (ii) the at least one value determined from the at least one balance;

based at least in part on approving the first order, make the first order available for matching with other orders;

match the first order with the second order, wherein to match the first order with the second order results in;

the second user owing a payment to the first user when the first user wins the bet associated with the first order, and

the first user owing a payment to the second user when the second user wins the bet associated with the second order;

receive at least one result of the sporting event;

based at least in part on the at least one result, determine that the first user owes a payout to the second user;

based at least in part on determining that the first user owes the payout to the second user;

(i) determine a first amount to transfer from the account of the first user to an account of a third-party; and

(ii) determine a second amount to transfer from the account of the third-party to the account of the second user; and

after the first user fails to make a payment regarding the first amount, transfer the second amount from the account of the third-party to the account of the second user,

wherein the second amount is transferred from the account of the third-party to the account of the second user even though the first user fails to make a payment regarding the first amount.

33. The apparatus of claim 32,

wherein the first order further comprises or defines a first quote;

wherein the second order further comprises or defines a second quote; and

wherein to match the first order with the second order comprises to match the first order with the second order based at least in part on the first quote and the second quote.

34. The apparatus of claim 33, wherein to match the first order with the second order comprises to:

determine that the first quote equals the second quote; and

match the first order with the second order based at least in part on determining that the first quote equals the second quote.

35. The apparatus of claim 33, wherein to match the first order with the second order comprises to:

determine that the first quote and the second quote differ by more than or equal to a predetermined amount; and

match the first order with the second order based at least in part on determining that the first quote and the second quote differ by more than or equal to the predetermined amount.

36. The apparatus of claim 33, wherein to match the first order with the second order comprises to:

determine that the first quote and the second quote differ by less than or equal to a predetermined amount; and

match the first order with the second order based at least in part on determining that the first quote and the second quote differ by less than or equal to the predetermined amount.

37. The apparatus of claim 33, wherein the first quote and the second quote each comprises a value associated with possible results of the sporting event.

38. The apparatus of claim 32, wherein the third-party is associated with the apparatus.

39. The apparatus of claim 32, wherein the second amount is less than the first amount by a predetermined amount.

40. The apparatus of claim 32,

wherein the instructions, when executed by the at least one processor, further direct the at least one processor to determine at least one risk factor associated with the sporting event, the risk factor comprising an amount that a user could lose by wagering one unit of currency on the sporting event;

and

wherein to determine the risk value for the first order comprises to multiply the risk factor associated with the sporting event by the wager amount of the first order.

41. The apparatus of claim 32, wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:

receive a third order from a third user and a fourth order from a fourth user,

wherein the third order comprises a request to place a bet on the sporting event,

wherein the fourth order comprises a request to place a bet on the sporting event,

wherein the third user has an account, and

wherein the fourth user has an account;

match the third order with the fourth order, wherein to match the third order with the fourth order results in;

the fourth user owing a payment to the third user when the third user wins the bet associated with the third order, and

the third user owing a payment to the fourth user when the fourth user wins the bet associated with the fourth order;

based at least in part on the at least one result, determine that the third user owes a payout to the fourth user; and

based at least in part on determining that the third user owes the payout to the fourth user;

(i) determine a third amount to transfer from the account of the third user to the account of the third-party;

(ii) determine a fourth amount to transfer from the account of the third-party to the account of the fourth user;

(iii) transfer the third amount from the account of the third user to the account of the third-party; and

(iv) transfer the fourth amount from the account of the third-party to the account of the fourth user.

42. The apparatus of claim 32,

wherein to match the first order with the second order comprises to match a portion of the first order with the second order;

and

wherein the instructions, when executed by the at least one processor, further direct the at least one processor to;

receive a third order from a third user, wherein the third order comprises a request to place a bet on the sporting event; and

match another portion of the first order with the third order.

43. The apparatus of claim 42,

wherein the wager amount of the first order is greater than the wager amount of the second order;

and

wherein to match the portion of the first order with the second order comprises to match the first order with the second order at the wager amount of the second order.

44. The apparatus of claim 32, wherein the second amount is less than the first amount by a predetermined amount such that the predetermined amount is retained by the third-party.

45. The apparatus of claim 32, wherein to:

transfer the second amount from the account of the third-party to the account of the second user comprises to;

credit the account of the second user by the second amount; and

debit the account of the third-party by the second amount.

46. The apparatus of claim 32, wherein to match the first order received from the first user with the second order received from the second user comprises to establish a bet between the first user and the second user on the sporting event.

47. The apparatus of claim 32, wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:

based at least in part on matching the first order with the second order;

based at least in part on matching the first order with the second order;

establish at least one obligation between the first user and the third-party, the at least one obligation including an obligation to transfer at least one of funds and credit between the account of the first user and the account of the third-party based at least on potential results of the sporting event; and

establish at least one obligation between the second user and the third-party, the at least one obligation between the second user and the third-party including an obligation to transfer at least one of funds and credit between the account of the second user and the account of the third-party based at least on the potential results of the sporting event.

48. The apparatus of claim 32, wherein the at least one balance comprises at least one available margin balance.

49. The apparatus of claim 48, wherein the instructions, when executed by the at least one processor, further direct the at least one processor to decrease the at least one available margin balance based at least in part on matching the first order with the second order.

50. The apparatus of claim 32, wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:

receive from the first user another order that is separate from the first order, wherein the another order comprises a request to place a bet, and further comprises or defines an amount the first user wishes to wager; and

based at least in part on matching the first order received from the first user with the second order received from the second user, automatically reduce the wager amount of the another order.

51. The apparatus of claim 50,

wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:

based at least in part on matching the first order with the second order, update the at least one balance associated with the account of the first user, the updating resulting in at least one updated balance;

based at least in part on the wager amount of the another order, determine a risk value for the another order, wherein the risk value for the another order comprises an amount that the first user could lose on the bet associated with the another order;

compare the risk value for the another order to at least one of (i) the at least one updated balance and (ii) at least one value determined from the at least one updated balance; and

based at least in part on comparing the risk value for the another order to the at least one of (i) the at least one updated balance and (ii) the at least one value determined from the at least one updated balance, determine that the risk value for the another order exceeds the at least one of (i) the at least one updated balance and (ii) the at least one value determined from the at least one updated balance; and

wherein to reduce the wager amount of the another order comprises to reduce the wager amount based at least in part on determining that the risk value for the another order exceeds the at least one of (i) the at least one updated balance and (ii) the at least one value determined from the at least one updated balance.

52. The apparatus of claim 51,

wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:

based at least in part on matching the first order with the second order, determine an updated risk value for the first order; and

wherein to update the at least one balance comprises to reduce the at least one balance by an amount that is based at least in part on the updated risk value for the first order.

53. The apparatus of claim 52,

wherein the sporting event has a duration;

and

wherein the instructions, when executed by the at least one processor, further direct the at least one processor to;

during the duration of the sporting event and after reducing the wager amount of the another order, automatically increase the wager amount of the another order.

54. The apparatus of claim 52,

wherein the sporting event has a duration;

and

wherein the instructions, when executed by the at least one processor, further direct the at least one processor to;

during the duration of the sporting event and after reducing the wager amount of the another order, automatically further reduce the wager amount of the another order.

55. The apparatus of claim 32, wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:

receive from the first user another order that is separate from the first order, wherein the another order comprises a request to place a bet;

based at least in part on;

(a) having matched the first order received from the first user with the second order received from the second user, and

(b) event results of the sporting event that occur during a duration of the sporting event,

adjust the at least one balance associated with the account of the first user, wherein the adjusting results in at least one adjusted balance, and wherein the adjusting occurs during the duration of the sporting event; and

based at least in part on adjusting the at least one balance, automatically adjust a wager amount associated with the another order.

56. The apparatus of claim 55,

wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:

based at least in part on the wager amount associated with the another order, determine a risk value for the another order, wherein the risk value for the another order comprises an amount that the first user could lose on the bet associated with the another order;

compare the risk value for the another order to at least one of (i) the at least one adjusted balance and (ii) at least one value determined from the at least one adjusted balance; and

based at least in part on comparing the risk value for the another order to the at least one of (i) the at least one adjusted balance and (ii) the at least one value determined from the at least one adjusted balance, determine that the risk value for the another order exceeds the at least one of (i) the at least one adjusted balance and (ii) the at least one value determined from the at least one adjusted balance; and

wherein to adjust the wager amount associated with the another order comprises to reduce the wager amount associated with the another order based at least in part on determining that the risk value for the another order exceeds the at least one of (i) the at least one adjusted balance and (ii) the at least one value determined from the at least one adjusted balance.

57. The apparatus of claim 56,

wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:

based at least in part on;

(a) the event results of the sporting event that occur during the duration of the sporting event, and

(b) having matched the first order with the second order, determine an updated risk value for the first order; and

wherein to adjust the at least one balance associated with the account of the first user comprises to reduce the at least one balance by an amount that is based at least in part on the updated risk value for the first order.

58. The apparatus of claim 57,

wherein the another order, when received from the first user, comprises or defines an initial amount the first user wishes to wager;

wherein the instructions, when executed by the at least one processor, further direct the at least one processor to;

based at least in part on matching the first order with the second order, automatically reduce the initial wager amount, resulting in a reduced wager amount; and

wherein to adjust the wager amount associated with the another order comprises to reduce the reduced wager amount.

59. The apparatus of claim 55,

wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:

based at least in part on the wager amount associated with the another order, determine a risk value for the another order, wherein the risk value for the another order comprises an amount that the first user could lose on the bet associated with the another order;

compare the risk value for the another order to at least one of (i) the at least one adjusted balance and (ii) at least one value determined from the at least one adjusted balance;

based at least in part on comparing the risk value for the another order to the at least one of (i) the at least one adjusted balance and (ii) the at least one value determined from the at least one adjusted balance, determine that the risk value for the another order does not exceed the at least one of (i) the at least one adjusted balance and (ii) the at least one value determined from the at least one adjusted balance; and

wherein to adjust the wager amount associated with the another order comprises to increase the wager amount associated with the another order based at least in part on determining that the risk value for the another order does not exceed the at least one of (i) the at least one adjusted balance and (ii) the at least one value determined from the at least one adjusted balance.

60. The apparatus of claim 59,

wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:

based at least in part on;

(a) the event results of the sporting event that occur during the duration of the sporting event, and

(b) having matched the first order with the second order, determine an updated risk value for the first order; and

wherein to adjust the at least one balance associated with the account of the first user comprises to increase the at least one balance by an amount that is based at least in part on the updated risk value for the first order.

61. The apparatus of claim 60,

wherein the another order, when received from the first user, comprises or defines an initial amount the first user wishes to wager;

wherein the instructions, when executed by the at least one processor, further direct the at least one processor to;

based at least in part on matching the first order with the second order, automatically reduce the initial wager amount, resulting in a reduced wager amount; and

wherein to adjust the wager amount associated with the another order comprises to increase the reduced wager amount.

62. The apparatus of claim 32, wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:

based at least in part on (i) event results of the sporting event that occur during a duration of the sporting event and (ii) having matched the first order with the second order, update the risk value for the first order, wherein the updating occurs during the duration of the sporting event.