System and method for establishing and providing access to various types of online accounts

An apparatus comprising:

• at least one processor;
• and
• a memory electronically coupled to the at least one processor, in which the memory stores instructions which, when executed by the at least one processor, direct the at least one processor to:
• receive identification information submitted by a first user, in which the apparatus is operable to receive the identification information from the first user via a computer system associated with the first user, the apparatus being further operable to communicate with the computer system over a communications network;
• transmit to at least one credit verification entity a request for credit information, in which the request includes at least a portion of the identification information;
• receive from the at least one credit verification entity the requested credit information, in which the requested credit information includes a credit score and an identity score,
• in which the credit score represents a quality of credit associated with a person identified by the identification information, and
• in which the identity score represents a level of assurance that the person identified by the identification information is the same person as the first user;
• based at least in part on the credit score and the identity score, approve an opening of an account for the first user,
• in which the account has at least one balance associated therewith, and
• in which the first user may use the account to place bets on sporting events;
• receive from the first user a first order and a second order,
• in which the first order comprises a bet on a sporting event and further comprises or defines an amount that the first user wishes to wager on the sporting event, and
• in which the second order comprises a bet on at least one of (i) the sporting event and (ii) another sporting event, and in which the second order further comprises or defines an amount that the first user wishes to wager on the at least one of (i) the sporting event and (ii) the another sporting event;
• receive from a second user an order, in which the order from the second user comprises a bet on the sporting event and further comprises or defines an amount that the second user wishes to wager on the sporting event;
• approve the first order;
• based at least in part on approving the first order, make the first order available for matching with other orders;
• approve the second order;
• based at least in part on approving the second order, make the second order available for matching with other orders;
• match the first order from the first user with the order from the second user;
• based at least in part on matching the first order from the first user with the order from the second user, adjust the at least one balance associated with the account;
• and
• based at least in part on adjusting the at least one balance associated with the account and subsequent to making the second order available for matching with other orders, automatically reduce the wager amount of the second order.

An article of manufacture comprising:

• a storage medium, in which the storage medium stores instructions which, when executed by at least one processor, direct the at least one processor to:
• receive over a communications network identification information submitted by a first user via a computer system associated with the first user;
• transmit to at least one credit verification entity a request for credit information, in which the request includes at least a portion of the identification information;
• receive from the at least one credit verification entity the requested credit information, in which the requested credit information includes a credit score and an identity score,
• in which the credit score represents a quality of credit associated with a person identified by the identification information, and
• in which the identity score represents a level of assurance that the person identified by the identification information is the first user;
• based at least in part on the credit score and the identity score, approve an opening of an account for the first user,
• in which the account has at least one balance associated therewith, and
• in which the first user may use the account to place bets on sporting events;
• receive from the first user a first order and a second order,
• in which the first order comprises a bet on a sporting event and further comprises or defines an amount that the first user wishes to wager on the sporting event, and
• in which the second order comprises a bet on at least one of (i) the sporting event and (ii) another sporting event, and in which the second order further comprises or defines an amount that the first user wishes to wager on the at least one of (i) the sporting event and (ii) the another sporting event;
• receive from a second user an order, in which the order from the second user comprises a bet on the sporting event and further comprises or defines an amount that the second user wishes to wager on the sporting event;
• approve the first order;
• based at least in part on approving the first order, make the first order available for matching with other orders;
• approve the second order;
• based at least in part on approving the second order, make the second order available for matching with other orders;
• match the first order from the first user with the order from the second user;
• based at least in part on matching the first order from the first user with the order from the second user, adjust the at least one balance associated with the account;
• and
• based at least in part on adjusting the at least one balance associated with the account and subsequent to making the second order available for matching with other orders, automatically reduce the wager amount of the second order.