| Patent application number | Description | Published |
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| 20100105464 | WAGER MARKET CREATION AND MANAGEMENT - Methods and systems are provided herewith for managing a wagering system. In one exemplary embodiment, a stream of state information of a live sporting event is received in real time. A computer processor determines an initial state and a plurality of possible future states of a first performance parameter of the live sporting event based on the stream of state information. After a beginning of the game and before the start of the event, a probability of occurrence is calculated for at least one of the plurality of possible future states of the first performance parameter based on historical data related to the first performance parameter. The plurality of possible future states are mutually exclusive from one another. During an initial state of the first performance parameter, a signal operative to open a first market for betting on the at least one of the plurality of possible future states is transmitted. The first market comprises betting odds based on the calculated probability of occurrence. After transmitting the signal operative to open the first market, an end of the initial state is determined. Before the end of the initial state, a signal operative to close the first market is transmitted. After transmitting the signal operative to close the first market, an outcome of the first performance parameter is determined based on the received stream of state information. A signal operative to resolve one or more payouts of the first market is transmitted, in which the signal indicates the outcome of the first performance parameter. | 04-29-2010 |
| 20100160012 | COMPUTER GRAPHICS PROCESSING AND DISPLAY OF SELECTABLE ITEMS - Methods and systems are provided herewith for managing a wagering system. In one exemplary embodiment, state information of a live event may be received in real time. The live event may comprise a sporting event played by human players according to predetermined rules that are used to determine at least one winner of the sporting event. An initial state and a plurality of possible future states of a performance parameter of the live event may be determined based on the state information. A first betting market for betting on at least one of the plurality of possible future states may be created. The act of creating a first betting market may comprise (1) determining by the processor probabilities for the plurality of possible future states, and (2) based at least in part on the probabilities, determining by the processor odds for betting on at least one of the plurality of possible future states. After creating the first betting market, a first bet comprising a selection of one of the plurality of possible future states may be received from a first of a plurality of users. After receiving the first bet, the first betting market may be closed prior to an end time of the initial state. An instruction signal to close the first betting market may be transmitted from the processor. An actual future state of the performance parameter may be determined. The processor may determine that the possible future state selected by the first user is the actual future state. A payout may be paid to the first user based on the first bet and the act of determining that the possible future state selected by the first user is the actual future state. The sporting event may occur during an event time duration such that the sporting event begins at the beginning of the event time duration and ends at the end of the event time duration. The sporting event may comprise a plurality of portions of the event occurring during sequential portions of the event time duration, in which a plurality of possible future states comprises a possible future state occurring at the end of one of the sequential time periods, and in which at least one betting market is created for each of the sequential time periods. | 06-24-2010 |
| 20110177862 | ELECTRICAL COMPUTERS AND DIGITAL PROCESSING SYSTEMS INVOLVING INTERPROGRAM OR INTERPROCESS COMMUNICATION REGARDING AMUSEMENT DEVICES AND GAMES - Some embodiments may include interaction among sports books. Various other systems and methods are described. | 07-21-2011 |
