Back to results
US 2022/0012837 A1Published application
System and method for determining interests in the outcome of an event
OwnerJackson Hunter REINHARTinventor
Life of this patent
Estimating the term…
Abstract
A system and method of valuing interests in outcome determinative events including creating units based on the predicted outcome of the event and enabling trading of the units prior to commencement of the event.
Claims16
A method of determining interests in the outcome of an event, the steps comprising:
- a. using a processor, identifying an event having more than one determinative outcome;
- b. using a processor, determining a redeemable interest value of a unit based on each identified determinative outcome;
- c. using a processor, assigning a probability for each one of the identified determinative outcomes;
- d. using a processor, determining a pre-event interest value for the unit as a function of each assigned probability before the event commences;
- e. using a processor, assigning ownership of a unit to a first user in exchange for the determined pre-event interest value;
- f. after the event commences, using a processor, identifying the availability of the unit at an associated sales price;
- g. using a processor, receiving from a second user a selection of the unit at the associated sales price;
- h. using a processor, assigning ownership of the unit to the second user in exchange for the associated sales price;
- and
- i. after completion of the event, using a processor, redeeming the unit for the redeemable interest value based on the outcome of the event.
7 more elements
A system for determining interests in the outcome of an event, comprising:
- a memory for storing computer readable code;
- a processor operatively coupled to the memory, the processor configured to:
- identify an event having more than one determinative outcome;
- determine a redeemable interest value of a unit based on each identified determinative outcome;
- assign a probability for each one of the identified determinative outcomes;
- determine a pre-event interest value for the unit as a function of each assigned probability before the event commences;
- assign ownership of a unit to a first user in exchange for the determined pre-event interest value;
- after the event commences, identify the availability of the unit at an associated sales price;
- receive from a second user a selection of the unit at the associated sales price;
- assign ownership of the unit to the second user in exchange for the associated sales price;
- and
- after completion of the event, redeem the unit for the redeemable interest value based on the outcome of the event.
9 more elements
Dependencies are inferred from the claim text.