System, application, and method of wagering on online games of skill as a third party spectator

A computing device running an application thereon, the computing device comprising:

• a display unit to display the application including a live-streaming online video game played by a plurality of players;
• an input device to receive input within the application from a bettor regarding placing a wager on at least one of the plurality of players playing and winning the live-streaming online video game;
• a central processing unit (CPU) to process the input;
• a storage unit to store the input;
• a transmitter to transmit the input via the application to an external transactional server that also receives other input wagers from other bettors and stores the input and the other input wagers in an escrow account;
• and
• a receiver to receive an output via the application from the transactional server including the original input and at least a portion of the other input wagers in response to the at least one of the plurality of players winning the live-streaming online video game.

A method of wagering on online games of skill, the method comprising:

• displaying, on a display unit of a computing device, the application including a live-streaming online video game played by a plurality of players;
• receiving input within the application, via an input unit of the computing device, from a bettor regarding placing a wager on at least one of the plurality of players playing and winning the live-streaming online video game;
• processing the input within a central processing unit of the computing device;
• storing the input in a storage unit of the computing device;
• transmitting the input via the application from the computing device to an external transactional server;
• receiving other input wagers from other bettors in the external transactional server;
• storing the input and the other input wagers in an escrow account associated with the external transactional server;
• and
• receiving, in the computing device, an output via the application from the transactional server including the original input and at least a portion of the other input wagers in response to the at least one of the plurality of players winning the live-streaming online video game.