# US 7,610,221 B2 · Systems and methods for contingency-based options and futures for game tickets based upon game participant standings

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- Number: US 7,610,221 B2
- Document ID: US7610221B2
- Status: Granted
- Kind: B2
- Application number: 11/875,487
- Filed: 2007-10-19
- Published: 2008-05-01
- Granted: 2009-10-27
- Earliest claimed: 1999-06-03
- Assignees: The Ticket RESERVE, Inc.
- Inventors: Charles H. Cella; Edward J. Kelly; Matthew P. Vincent
- Web page: https://patentgrep.com/patent/US7610221B2

## CPC

- G06Q 10/02: Reservations, e.g. for tickets, services or events
- G06Q 30/0601: Electronic shopping [e-shopping]
- G06Q 30/0607: {Regulating the sale of restricted items, e.g. alcohol}
- G06Q 30/0611: {Request for offers or quotes}
- G06Q 30/0641: {utilising user interfaces specially adapted for shopping}
- G06Q 40/04: Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
- G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR

## Abstract

Methods and systems of establishing a network-based system for purchase and sale of at least one of an option contract and a futures contract to acquire an item or to attend an event, wherein the contract is exercisable upon the occurrence of a contingency. The contingency may relate to the presence of a particular team in a game and the location of the game. In some instances, the contingency may relate to the position of a participant in the event in the standings at a time proximate to the occurrence of the event.

## Claims

### Claim 1

A method of electronic commerce, comprising:
identifying, from a database, a participant who could participate in a game;
providing, in a register, a plurality of tickets for said game;
establishing a network-based on-line system for sale of futures contracts to acquire said tickets for the game, wherein each futures contract is exercisable upon occurrence of a contingency, wherein the contingency relates to the position of said participant in the game in a standings at a time proximate to the occurrence of the game, wherein said participant could attain a position in the standings yet which position is unknown at the sale of said futures contract;
offering, via a buyer device, said futures contracts for sale for each of said tickets for said participant that could, at the time of the offer for sale, attain a position in the standings; and
triggering, in an order processing module of the network-based on-line system, the exercisability of said futures contracts associated with said participant when a position in the standings has been attained.

### Claim 2 (depends on 1)

The method of claim 1, wherein the game is a participant-game.

### Claim 3 (depends on 2)

The method of claim 2, wherein the participant-game is a team-round-game.

### Claim 4 (depends on 1)

The method of claim 1, wherein at least one of said futures contracts is tradable, via the network-based on-line system, prior to said participant attaining a position in the standings.

### Claim 5 (depends on 1)

The method of claim 1, wherein at least one of said futures contracts is tradable for another of said futures contracts.

### Claim 6 (depends on 1)

The method of claim 1, wherein at least one of said futures contracts is tradable for a payment.

### Claim 7 (depends on 1)

The method of claim 1, wherein at least one of said futures contracts further comprises an option for a travel accommodation associated with the game.

### Claim 8

A computer program product embodied in a computer readable medium that, when executing on one or more computing devices, performs the steps of:
identifying a participant who could participate in a game;
providing a plurality of tickets for said game;
establishing a network-based on-line system for the sale of futures contracts to acquire said tickets for the game, wherein each futures contract is exercisable upon occurrence of a contingency, wherein the contingency relates to the position of said participant in the game in a standings at a time proximate to the occurrence of the game, wherein said participant could attain a position in the standings yet which position is unknown at the sale of said futures contract;
offering said futures contracts for sale for each of said tickets for said participant that could, at the time of the offer for sale, attain a position in the standings; and
triggering the exercisability of said futures contracts associated with said participant when a position in the standings has been attained.

### Claim 9 (depends on 8)

The computer program product of claim 8, wherein the game is a participant-game.

### Claim 10 (depends on 9)

The computer program product of claim 9, wherein the participant-game is a team-round-game.

### Claim 11 (depends on 8)

The computer program product of claim 8, wherein at least one of said futures contracts is tradable prior to said participant attaining a position in the standings.

### Claim 12 (depends on 8)

The computer program product of claim 8, wherein at least one of said futures contracts is tradable for another of said futures contracts.

### Claim 13 (depends on 8)

The computer program product of claim 8, wherein at least one of said futures contracts is tradable for a payment.

### Claim 14 (depends on 8)

The computer program product of claim 8, wherein at least one of said futures contracts further comprises an option for a travel accommodation associated with the game.

### Claim 15

A system for allowing a user to bid on an option to purchase a ticket to a game for which a plurality of participants could qualify to participate but have not qualified for said playoff game, comprising:
a database having stored therein an option record having a participant field representative of one of said plurality of participants being a candidate for participation in the game, an event field representative of the game, and a value field representative of a value of a minimum winning bid to purchase an option, the option being an option to purchase a ticket for the game on occurrence of a specified participant attaining a position in a standings at a time proximate to the occurrence of the game;
a server, in connection with said database, processing a bid representative of a request to purchase the option, and processing said bid and said option record to allocate an option contract to a winning bid; and
an order processing module to exercise said option associated with a selected participant in response to said selected participant attaining a position in a standings.

### Claim 16 (depends on 15)

The system of claim 15, wherein the game is a participant-game.

### Claim 17 (depends on 16)

The system of claim 16, wherein the participant-game is a team-round-game.

### Claim 18 (depends on 15)

The system of claim 15, wherein the option is tradable prior to said participant attaining a place in the standings.

### Claim 19 (depends on 15)

The system of claim 15, wherein the option is tradable for a different option.

### Claim 20 (depends on 15)

The system of claim 15, wherein the option further comprises an option to purchase a travel accommodation associated with the game.