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AssigneeCfph L.L.C. (Cfph)
InventorsPhilip M. Ginsberg, Howard W. Lutnick, Andrew C. Gilbert, Mary Ann Gilbert, Lewis Findlay
Estimating the term…
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.
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
A method of real-time interactive wagering on event outcomes, said method comprising:
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Data transfer within a gaming system, e.g. data sent between gaming machines and users: configuring a gaming machine, e.g. downloading personal…
Raffle games that can be played by a fairly large number of people: electric
Finance; Insurance; Tax strategies; Processing of corporate or income taxes: credit; Loans; Processing thereof
Information and communication technology [ICT] specially adapted for implementation of business processes of specific business sectors, e.g.…:…
Term end not estimated
The present invention relates to real-time interactive wagering on event outcomes. Event outcomes may be based on, for example, financial markets and indices, sporting and entertainment events, political events, games of chance, and natural phenomena such as weather and earthquakes. Wagers can be of a fixed-odds type or a spread-bet type (both described further below). Wagers can be placed on, for example, the change in the Consumer Price Index for a given month; a nation's Gross Domestic Product (GDP); a casino's payout or winnings at blackjack over a given period; the team that will win baseball's World Series; the actor that will win an Academy Award; and the price movement of individual stocks, gold, commodities, or any real-time index. Events on which wagers can be placed include both those with known and unknown outcome probabilities. The present invention does not, however, involve trading of financial instruments.
Current wagering systems are often slow and inefficient, and thus do not offer clients real-time wagering. Many known systems conduct wagering manually by telephone. Even known online wagering systems do not offer real-time wagering. Processing delays are commonly incurred between initially placing a wager and receiving confirmation of that wager. For example, after a client places a wager, the client's available credit is usually checked before the wager is accepted and confirmed. During such processing delays, the price of a desired wager can and often does change. Thus clients may not at times get the prices originally presented. Moreover, presented wager prices are typically not current, but often may lag actual prices by as much as 5-10 minutes. Another disadvantage of known wagering systems is their limited selection of events on which to wager. Known systems and methods generally cannot easily establish wagering on customized or client-requested events, such as, for example, the snowfall in New York's Central Park next Christmas Day.
In view of the foregoing, it would be desirable to provide real-time interactive wagering on event outcomes.
The above and other objects and advantages of the invention will be apparent upon consideration of the following detailed description, taken in conjunction with the accompanying drawings, in which like reference characters refer to like parts throughout, and in which:
FIG. 1 is a block diagram of a system for real-time interactive wagering in accordance with the present invention;
FIG. 2 is a flow diagram of a client qualification process in accordance with the present invention;
The present invention is directed to systems and methods for real-time interactive wagering on event outcomes. The systems and methods of the present invention may be implemented using a data processing computer and a plurality of client workstations that communicate interactively with the computer via a network.
FIG. 1 illustrates a real-time interactive wagering system 100 according to the present invention. The system includes a house wagering processor 102 and a plurality of client workstations 104-107, all of which are linked together via network 108. Wagering processor 102 can be, for example, a data processing computer having appropriate processing speed and memory capacity. Client workstations 104-107 can be directly or remotely connected to processor 102 and can be, for example, personal computers, dumb terminals, personal digital assistants (PDAs), laptop computers, mainframe computers, cellular telephones with Internet capabilities, or other devices capable of communicating with processor 102 via network 108. Network 108 can be, for example, the Internet, an Ethernet, a token ring, a token bus, or any other suitable communication medium or configuration that links the workstations with processor 102 to provide real-time interaction. In a preferred embodiment, clients preferably interact with the system via an Internet Web site.
Wagering system 100 also includes electronic feeds 110 and 112 each coupled to processor 102 and to respective preferably independent market data sources 114 and 116. As described further below, market data sources 114 and 116 each provide pricing and other information regarding known markets, indices and the like (e.g, S&P 500, stock prices, etc.). Electronic feeds 110 and 112 can be any communication medium that transmits available market data and changes thereof substantially immediately.