System and method for a lottery and auction based tournament entry exchange platform

An apparatus, comprising:

• a processor;
• and
• a memory having instructions stored thereon that are configured to cause the processor to:
• determine a first set of entries in a sports competition, in which each entry of the first set of entries corresponds to a respective team of a set of teams participating in the sports competition and in which the sports competition has one or more stages;
• distribute the first set of entries to a plurality of users;
• receive a buy order placed by a first user of the plurality of users, in which the buy order is associated with at least one entry of the first set of entries;
• receive a sell order placed by a second user of the plurality of users associated with the at least one entry of the first set of entries;
• match the buy order with the sell order and execute a trade of the at least one entry between the first user and the second user;
• determine a winning entry of the first set of entries based on at least one first outcome of the sports competition;
• and
• determine a payout to be paid to one or more users who hold the winning entry.

A method comprising:

• determining, by a processor, a first set of entries in a sports competition, in which each entry of the first set of entries corresponds to a respective team of a set of teams participating in the sports competition and in which the sports competition has one or more stages;
• distributing, by the processor, the first set of entries to a plurality of users;
• receive, by the processor, a buy order placed by a first user of the plurality of users, in which the buy order is associated with at least one entry of the first set of entries;
• receive, by the processor, a sell order placed by a second user of the plurality of users associated with the at least one entry of the first set of entries;
• match, by the processor, the buy order with the sell order and execute a trade of the at least one entry between the first user and the second user;
• determine, by the processor, a winning entry of the first set of entries based on at least one first outcome of the sports competition;
• and
• determine, by the processor, a payout to be paid to one or more users who hold the winning entry.