Prediction market exchange tradable betting system and methods
AssigneeBetEx
InventorBruce Merati
Life of this patent
Estimating the term…
Abstract
Various aspects of a prediction market ecosystem are described for punters and market makers to speculate on occurrence and non-occurrence of future events by placing bets on operators that take bets within their jurisdictions and can buy other punters bets that are placed with other operators through an exchange server that matches and executes trade orders that also allows operators to participate on the exchange to manage their risks and records inter-operator transactions generated as the result of executing the trade orders.
Claims23
A central exchange server for trading already-placed bets, comprising:
- a network interface for communicating with licensed operators over a wide-area network;
- a non-transitory memory for storing processor-executable instructions;
- and
- a processor, coupled to the network interface and the non-transitory memory, for executing the processor-executable instructions that causes the central exchange server to:
- receive buy orders and sell orders over time only from licensed operators in a plurality of states, wherein each licensed operator is authorized to place the buy orders and the sell orders with the central exchange server;
- construct a plurality of tables, each table comprising a hierarchy of the buy orders and the sell orders associated with particular events, respectively, each of the buy orders comprising a quantity and a bid price and each of the sell orders comprising a second quantity and an ask price;
- dynamically maintain the plurality of tables as new buy and sell orders are received;
- and
- execute the buy orders and the sell orders when a best ask price of a buy order matches a best bid price of a sell order of a respective event.
A method, performed by a central exchange server, for trading already-placed bets, the method comprising:
- receiving buy orders and sell orders over time from licensed operators to buy and sell already-placed bets;
- constructing a plurality of tables, each table comprising a hierarchy of the buy orders and the sell orders associated with a particular event, respectively, each of the buy orders comprising a quantity and a bid price and each of the sell orders comprising a second quantity and an ask price;
- dynamically maintaining the plurality of tables as new buy and sell orders are received;
- and
- executing the buy orders and the sell orders when a best ask price of a buy order matches a best bid price of a sell order of a respective event.
A central exchange server for trading already-placed bets, comprising:
- a network interface for communicating with licensed operators over a wide-area network;
- a non-transitory memory for storing processor-executable instructions;
- and
- a processor, coupled to the network interface and the non-transitory memory, for executing the processor-executable instructions that causes the central exchange server to:
- receive buy orders and sell orders over time from licensed operators in a first jurisdiction, the first jurisdiction comprising a country, wherein the buy orders and the sell orders are accepted only from licensed operators in the first jurisdiction authorized to place the buy orders and the sell orders with the central exchange server;
- construct a plurality of tables, each table comprising a hierarchy of the buy orders and the sell orders associated with particular events, respectively, each of the buy orders comprising a quantity and a bid price and each of the sell orders comprising a second quantity and an ask price;
- dynamically maintain the plurality of tables as new buy and sell orders are received;
- and
- execute the buy orders and the sell orders when a best ask price of a buy order matches a best bid price of a sell order of a respective event.
Dependencies are inferred from the claim text.