Honor-based betting exchange
AssigneeInternet Community & Entertainment Corp.
InventorNicholas G. Jenkins
Life of this patent
Estimating the term…
Abstract
An honor-based betting exchange facilitates transactions connected with bets among members of the exchange. A member need not pay his losses but his behaviors on the exchange are tracked by his honor rating. The exchange allows bets to be listed in classes facilitating searches and sorts to be performed. Upselling is possible to attract a large number of bettors. Bet matching software determines redundant bets and bring these bets to the attention of bettors. Although fixed bets are possible, certain bets can be negotiated on the exchange.
Claims19
A computer system, comprising:
- an exchange that facilitates transactions connected with risk-free bets among members of the exchange;
- and
- a piece of evaluation software executing on the computer system, the piece of evaluation software providing an evaluation index for each member of the exchange, which is used to police risk-free bets on the exchange.
A computer-implemented method comprising:
- accessing an honor-based betting exchange by a first member to accept terms of an offer of a second member regarding a bet;
- and
- rejecting the acceptance of the first member if a piece of honor rating software determines that an honor rating of the first member fails to meet an honor rating threshold specified by the second member, the honor rating being recalculated over time by the piece of honor rating software depending on wagering statistics and behaviors of the first member including his refusal to pay on a bet he wagered.
A computer-readable medium having computer-executable instructions stored thereon for implementing a computer-implemented method, comprising:
- accessing an honor-based betting exchange by a first member to specify new terms different from terms of an offer of a second member regarding a bet;
- and
- accepting the new terms of the first member if the honor-based betting exchange determines that the new terms are within an acceptable range and if a piece of honor rating software determines that an honor rating of the first member meets an honor rating threshold specified by the second member.
Dependencies are inferred from the claim text.