JP7526832B2 - Computer image processing method and system for displaying graphical objects or text in a betting environment - Patents.com - Google Patents

Description

This application claims priority from U.S. Patent Application No. 11/467,047, filed Aug. 24, 2006, which is hereby incorporated by reference in its entirety.

This application relates to image processing methods and systems, and more particularly to systems and methods for displaying image objects or text on an interactive display in a betting environment.

In accordance with at least one aspect of the present disclosure, a computer image processing system and method are provided for displaying graphical objects or text in a betting environment.

In at least one embodiment, a computer graphics processing method is provided for displaying a graphical object on a graphical user interface screen, the method including receiving a request for betting information and displaying the graphical interface screen on a user interface. The graphical interface screen includes a reference betting line, such as a market betting line, having a value corresponding to a reference variable value associated with the object, such as a market value for the object. Alternatively or additionally, the interface screen may include a high line having a value corresponding to an amount higher than the reference variable value, a low line having a value corresponding to an amount lower than the reference variable value, or at least one or more spread lines. The market, high, low and spread lines may be spatially positioned on the interface screen based at least on the values of each of these lines.

In one embodiment, the interface screen includes at least one computer-generated or otherwise graphical object associated with each of the betting lines. The at least one graphical object is selectable for submitting at least one of an up bet request and a down bet request. The at least one graphical object may rotate or move when in a transaction-enabled state. The interface screen may further include odds associated with at least one of the up bet request and the down bet request superimposed on the graphical object. In one embodiment, the interface screen and/or at least one of the market or reference betting lines, high line, low line, spread line, and odds are automatically refreshed to reflect changes in market value of the objects.

Further aspects of the present invention will become apparent from a review of the following description.

To provide a more complete understanding of the present invention and its features and advantages, reference is made to the following description in conjunction with the accompanying drawings, in which like reference numerals represent like parts, and in which:

FIG. 1 is a block diagram of a gaming system for betting on events in a market environment in accordance with at least one embodiment of the systems disclosed herein. 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. FIG. 2 is a block diagram of a central controller according to at least one embodiment of the systems disclosed herein. FIG. 1 is a flow diagram illustrating a method for betting on a market environment, according to at least one embodiment of the methods disclosed herein. FIG. 2 is a flow diagram illustrating a method for validating at least one bet request according to at least one embodiment of the methods disclosed herein. 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein.

1 is a block diagram of a gaming system 10 according to at least one embodiment of the system disclosed herein, which provides at least one graphical user interface screen by which users can place wagers or bets on events occurring within a financial or other market, as disclosed herein. In one embodiment, the gaming system 10 includes at least one central controller 40 coupled or in communication with an overall communications network 18 that includes at least one user interface 16 for use by one or more end users 12. The gaming system 10 may also include or be associated with an administrator module 50 and financial market data elements 60.

The user interface 16 may include one or more elements that provide connection and/or interaction for one or more end users 12, along with other elements within the gaming system 10. The user interface 16 may include, for example, a processor, memory, one or more input and/or output devices, such as a keyboard, a mouse, a display, an Internet element 20, a wireless element 22, a casino facility element 24, a television (or display) element 28, etc. Each of these elements may provide associated functionality in the form of hardware, software, or a combination thereof.

The central controller 40 may include a processor 42 and memory elements 44, as well as software stored in the memory that, when executed, performs one or more steps or provides functionality of the methods described herein. In one embodiment, the central controller 40 generally provides back-end functionality for the methods described herein, and the user interface 16 provides front-end functionality.

The gaming system 10, in certain embodiments, provides greater flexibility and opportunity for diversifying bets on events in a number of financial or other markets. Although the methods and systems described herein may be illustrated with respect to betting on events occurring within a financial market, such as one or more indicators reaching a certain monetary level at the end of a betting session, it should be understood that the methods and systems are equally applicable to betting on other events not related to financial markets, such as, for example, but not limited to, sporting events, horse or dog races, casino games, lotteries, and others. Additionally, although the methods and systems are described with respect to market prices or values, it should be understood that the methods and systems are equally applicable to variables without price references, such as, but not limited to, trading volumes, bid sizes, request sizes, revenues, sports and non-sports scores or statistics, jackpots, and others. The methods and systems described herein are generally applicable to betting on the value of a reference variable associated with any object, the value of which is subject to change over time. Thus, the present specification provides methods and systems that provide users with the opportunity to place bets based on whether the value of a reference variable reaches a particular level at a particular time.

In some embodiments, the gaming system 10 offers betting opportunities or betting products for wagering on events occurring in a financial or other market and determines odds for the occurrence of the events in the market. As used herein, the terms "betting opportunity" and "betting product" are used synonymously. For example, as described below, the system 10 may determine odds for betting on the value of an asset, assets, index, etc., reaching a price level or levels in a market that is moving or moving in a certain direction, and may further offer opportunities to bet on whether the value of the asset will meet at least one of these betting conditions one or more times throughout a trading day. In this regard, the gaming system 10 may divide a trading day into multiple intraday betting sessions, each having a start time and an expiration. Thus, a trading day may be considered to have multiple intraday expirations. A betting session may be object-specific or inclusive for all objects; i.e., the start time may occur at different times for some objects and be the same for all objects.

The gaming system 10 may further include a pricing engine, such as a software component or module, that is operable to: 1) determine floating or fixed odds, one or a set, around floating or fixed market lines, respectively; 2) determine precise floating market lines relative to the fixed odds; and/or 3) receive betting information to determine and/or display liability management information related to financial fixed betting activity.

For variable odds/fixed line betting products, the system 10 provides an interface screen that displays odds around a reference betting line having a value that remains constant throughout the trading day, during the betting session, or during the expiry of the day. In this example, the system 10 sets the value of the reference variable at the start of the betting session, i.e., the betting line value at the start time, and determines odds for values of the reference variable reaching higher or lower levels at later times than the initial value of the reference variable. The system 10 may further determine odds for values of the reference variable reaching different levels at different times throughout the betting session, preferably dynamically, to reflect real-time changes in the value of the object. Thus, the system 10 may provide betting opportunities in which the end user 12 may place a bet on whether the value of the reference variable at the close of the betting session reaches higher or lower levels than the initial value of the reference variable, with the odds and corresponding payouts based on the odds determined and/or set based on the value of the reference variable at the time the end user 12 places the bet.

For example, assume that the reference betting line is a fixed market line, such as one corresponding to the market value of the Dow beginning a betting session ( _T1 ) at 11192.8. At a later time ( _T2 ) in the betting session, the value of the Dow is 11192.5, as shown in Figure 5, and the odds that the Dow will finish above the 11192.8 level at _T2 are 10/11, and the odds that the Dow will finish below the 11192.8 level at _T2 are 8/11. Typically, the odds will vary from the initial value of the Dow at the beginning of the betting session based at least on the market value of the Dow at _T2 . Thus, end user 12 may place a bet at time _T2 on the up position, making a "bet up" on the bet (W) with a corresponding payout of (W) x (10/11), or a "bet down" on the bet with a corresponding payout of (W) x (8/11). Similarly, end user 12 may place bets on the same fixed market lines at later times in the betting session, with odds determined that reflect changes in the market value of the object at the later time, e.g., odds based on the market value at the later time, as shown in Figures 6-8. Similarly, end user 12 may place bets on the high line, low line, or spread line, as described in more detail below.

In addition to floating odds/fixed line bets, the gaming system 10 may also provide fixed odds/floating line betting outcomes that allow end users 12 to place bets on dynamic markets, where a reference betting line, e.g., a market line, has a value that corresponds to the current value of a reference variable at different times of a betting session to reflect any market shifts and fluctuations. In this example, the system 10 may provide an interface screen with a reference betting line that reflects changes in the value of the reference variable in real time or otherwise, and determine the odds of an object reaching a different level, e.g., higher or lower than the then-current level, at the end of the betting session or trading day. The system 10 may then provide a betting opportunity where end users 12 can select a then-current value for the reference variable and place a bet that the value of the reference variable will be higher or lower at the end of the betting session than the value selected at the then-current state, with the odds and corresponding payouts based thereon being essentially fixed or unchanged at least during the betting session. In a floating line embodiment, the fixed odds may be fixed at any time, including the start of a trading day, the start of a betting session, etc. For example, an end user 12 may bet that the value of the then current level of the Dow will close either higher or lower than the value of 11252.9, which was the then current level at a first time (T ₁ ) in a betting session, as shown in Figure 10, or that the Dow will close higher or lower than the value of 11252.0, which was the then current level at a second time (T ₂ ), as shown in Figure 11, where T ₂ >T ₁ as shown in Figure 11. As can be seen in Figures 10-11, the odds for betting on a floating market are fixed at 5/6 for both times and in both directions.

As mentioned above, end user 12 may bet that the value of the closing time of a selected market, such as the FTSE, will be higher or lower than the value of a fixed or floating market line value. End user 12 may also enjoy additional betting opportunities on fixed or floating betting lines in addition to the market betting line. In one embodiment, system 10 provides betting opportunities based on the theory that the market will close at a predetermined level higher or lower than a fixed or floating reference betting line, such as, for example, about 1% higher or lower than the market line, or any other percentage between 0.5% and 10% or more, or about 9 units higher or lower than the market line, or any other amount between 1 and 100 units (ticks) or more.

Thus, in a variable odds embodiment, gaming system 10 may offer betting opportunities at high and/or low line levels that are a certain amount, such as a certain percentage or number of units, higher or lower, respectively, from the value of a reference betting line, such as a fixed market line shown in FIGS. 5-9. End users 12 may then bet on whether the value of the variable will close higher or lower than the high and/or low line values. In this example, system 10 may determine variable odds for the high, low, or any other line levels, preferably on a dynamic and real-time basis during a betting session.

In fixed odds embodiments, gaming system 10 may provide similar betting opportunities for high and low line levels, or may provide betting opportunities for lines based on a spread around the current value of a reference variable, such as a floating market line, such that the spread line contains better odds (from a bettor's perspective) than those associated with a floating market line without a spread. Such odds may be essentially even (1/1), as opposed to, for example, 10/11 type odds for the market line. Thus, system 10 may determine the varying values of the high, low, and spread line values, preferably on a dynamic, real-time basis during a betting session, to maintain the desired fixed odds.

Daily expirations for betting sessions, as well as other intraday and long-term expirations, may be similarly accommodated by the gaming system 10. Bets may be placed on any suitable financial market, such as the FTSE, German DAX, French CAC, NASDAQ, American Exchange (AMEX), New York Stock Exchange, Nikkei, bond or treasury markets, and the Hang Seng Index. Thus, the gaming system 10 may facilitate frequent bet expirations for bets related to any number of suitable financial instruments. Bets or betting sessions may similarly extend to expirations every minute or every 30 seconds, or any multiple thereof or amount therebetween. On this basis, end users 12 may be provided with the opportunity to bet on multiple events/scenarios throughout the trading day. Thus, the targeted financial markets are the basis for regular intraday betting activity.

In at least one embodiment, the system 10 provides betting sessions with bet expiry at least one of every 5 minutes, 30 minutes, hourly, etc. throughout the market hours of the trading day, and immediately extended to accommodate future time frames that are defined. For example, if the trading day is divided into sessions with 5 minute expiries, betting opportunities are defined as follows for the FTSE market (GMT time): (starting bell) 10:00 AM, 10:05 AM, 10:10 AM, etc., and continuing until 17:05, 17:10, 17:15, 17:20 (closing bell). Similar principles apply to other session periods.

Similarly, the system 10 may allow the end user 12 to specify a self-determined maturity, which may be an upcoming maturity or any later maturity. Thus, customers at a betting shop or online environment may be offered betting opportunities at any time throughout the day. Settlement may follow the bet maturity in any suitable manner, such as immediately after maturity, during and/or concurrently with the running period of the next or any other later betting cycle, or in any other manner.

The gaming system 10 may allow end users to place bets in a session that have non-time specific expirations. In such a scenario, the bets expire at a defined delayed time measured from the moment the bet is administered, as opposed to a defined or planned expiration throughout the transaction session. This allows end users 12 to place bets at any time throughout the day, knowing that such bets will expire, for example, 5 minutes or any other time after the bet is placed. For example, a 5 minute bet placed at 12:07:35 will be settled at 12:12:35. Thus, bets need not expire at a nominal interval for all participants, but instead based on a clear marker, i.e., a delay from the time the bet is placed.

Another possibility afforded by the configuration of gaming system 10 would be for a sophisticated participant to continually adjust his or her overall risk involvement or exposure, for example, by betting one way on individual transactions and taking opposing positions on the outcomes of multiple other events. For example, a participant may first bet that the NASDAQ will rise, but also have a short position in the Russell 2000. Such risk-mixed participation strategies allow participants to effectively balance or hedge their bets and their betting portfolios in a manner similar to an investor who hedges an investment portfolio risk with offsetting transactions in the underlying securities assets.

End users 12 may be clients, customers, prospective investors, or any individual or entity wishing to place a bet. Similarly, end users 12 may be seeking to access or participate in communications using user interface 16, which is provided bidirectionally to central controller 40 via communications network 18. End users 12 may view data, such as performance characteristics of trading physical commodity objects associated with a particular market, in order to take a position, such as placing a bet, on any given target. Alternatively, or in addition, end users 12 may represent any device or object that wishes to initiate communications on behalf of another entity or element, such as a program, database, or any other component, device, element, or item capable of initiating a voice or data exchange within gaming system 10. As used herein, the term "data" refers to any type of numerical, voice, or script data, or any other suitable information in any format, communicated from one point to another.

The fact that an end user 12 may enter into a bet or bet represents the use of legal instruments to bind the end user 12 to the agreement. A bet may take any suitable form, such as a written document, an electronic file such as an email, a database entry, a facsimile message, a computer display, an entry in a report, a verbal agreement between two parties, or the like, or a combination of these. Such bets are flexible in terms, wording, and provisions. In general, any information or data that is relevant or of interest to the betting participant or the sponsoring organization may be included in a bet, provided that the terms included are mutually agreeable to the two (or more) parties bound by the bet.

The user interface 16 may be any device that facilitates the placing of bets on selected financial or other markets. The user interface 16 is generally operable, alone or in combination with the central controller 40, to communicate at least one request associated with the processing of bets and/or betting opportunities described herein. Similarly, the user interface 16 may provide a portal for the end user 12 to access other elements of the gaming system 10 and to interactively communicate information, such as betting opportunities and responsive bets provided herein, with associated components of the gaming system 10. The user interface 16 may be a computer, server, control center, single workstation, or headquarters office for any person, business, or entity that manages or facilitates betting activities. Thus, the user interface 16 may comprise any suitable hardware, software, equipment, components, elements, or items utilized or implemented in a gaming environment to accomplish the operations or functions.

In one embodiment, the user interface 16 includes any one or more selections of elements such as an Internet element 20, a wireless element 22, a casino facility element 24, a television element 28, or any other receiver such as cable, satellite, closed circuit, etc., for displaying images or information, a biometric element 65, etc. Any suitable number and combination of interfaces may be implemented within the gaming system 10 according to usage, traffic, architecture, and other reasons.

The user interface 16 may be any suitable interface or object that facilitates communication between the end user 12 and any other elements in the gaming system 10, such as a mobile phone, an electronic notebook, a personal digital assistant (PDA), a personal or laptop computer, a special-purpose handheld device, or any other suitable device, wireless or other form, component, or element that can access one or more elements in the gaming system 10. Similarly, the user interface 16 may include any suitable interface for a human user to interact with the gaming system 10, such as a display, a microphone, a keyboard, a camera, a mouse, a roller ball, a touch screen display, a biometric sensor, or any other suitable terminal device according to a particular configuration and arrangement. In addition, the user interface 16 may be a unique element, such as a special-purpose communication device designed specifically for communication involving betting as disclosed herein. Such elements may be constructed or manufactured specifically for a financial application involving the end user 12.

The user interface 16 may be owned or operated by any suitable entity having the ability and/or authority to operate in the gaming industry. There may be a direct connection between the user interface 16 and any financial or other exchange whereby information pertaining to the exchange may be delivered to the end user 12 and viewed prior to execution of the transaction. Thus, the user interface 16 may deliver real-time market and/or financial data to the end user 12 to provide relevant information used to make a decision as to whether to place, buy, or sell a bet. This financial information may be retrieved from the financial market data element 60, or any other suitable element, such as the direct connection described above. The financial market data element 60 may be, for example, relay data, such as price information, market line values, maturity data, financial graphs and charts, quote history, or moving averages, to the end user 12. Similarly, other relevant financial data may be delivered immediately based on specific demand.

To deliver accurate and timely information, financial market data elements 60 may be directly connected to the communications links of the corresponding exchanges transmitting the financial data. Alternatively, financial market data elements 60 may aggregate such information from any other location, such as newswires or servers operating to deliver information to investors in real time, and deliver the desired data to end users 12. Financial data elements 60 may be embodied in software, hardware, or a combination thereof. System 10 may store information received from or in connection with financial data elements 60 in one or more databases.

The user interface 16 may include or be at least one self-service betting machine. In some embodiments, the self-service betting machine allows the end user 12 to enter a payment into the machine, such as cash, a voucher, or a credit/debit card, to place one or more bets, and to receive a printout of a ticket or the like to confirm the placed bet. The user interface 16 may also include a biometric element 65, such as a fingerprint reader or any other biometric sensor, to authenticate the user's identity. Biometric data generated by the biometric sensor may be used to verify the user's identity for account access, electronic fund transfer, and the like. For example, the biometric data may be communicated from the interface 16 to the central controller 40, where it is compared to stored biometric data. If the biometric data matches, the user may proceed with betting according to the methods disclosed herein. Additionally, the results of the biometric data match may be communicated to a third party, such as a bank, which may electronically transfer funds from the user's account with the third party to one or more betting accounts of the user with the gaming system provider based on the biometric match.

The printouts for winning bets may be returned to the self-service betting machine to receive payment or vouchers, which may be used to receive payment from a teller. In other embodiments, the self-service betting machine allows the end user 12 to use a credit card, debit card, or smart card to place a bet. The credit or debit card may have an associated account, which may be a betting account provided and/or managed by a betting account provider using, for example, a centralized computer system. The associated account and information may also be stored in an end user profile, as described below with reference to FIG. 3. The smart card may itself store information regarding the betting account and various bets. In some embodiments, after a bet expires, the end user 12 may insert or swipe his or her credit, debit, or smart card into the self-service betting machine to update the balance on the card.

The user interface 16 may implement one or more telephone operators and one or more websites. End users 12 may access or communicate with such interfaces in any suitable manner. The telephone operators may communicate other information to end users 12 and take bets from the users. Similarly, the websites may communicate betting information to end users 12 and enable end users 12 to place bets. One or more such websites may be provided by one or more servers associated with the owner or operator of the gaming system 10.

An Internet betting provider may offer betting through an Internet account by providing one or more end users 12 with an online betting account. Using the online betting account, a customer may connect to one or more websites associated with the Internet betting provider to fund the account, view betting information regarding betting events, such as, for example, floating and fixed odds, floating and fixed references, markets, high, low and spread lines, historical data, and to place bets. Such online betting accounts may include one or more of various types of accounts, such as deposit accounts, credit accounts, margin accounts, stop-loss accounts, hybrid accounts, etc. Such accounts and their contents may be stored in an end user profile, as shown in FIG. 3.

The communication network 18 is a communications platform operable to exchange data or information between the end users 12, the user interface 16, and/or the central controller 40. The communication network 18 may be an Internet architecture that allows the end users to electronically execute or initiate transactions associated with bets. Alternatively, the communication network 18 may be an analog telephone line (Plain Old Telephone System, POTS) that allows the end users 12 to perform the same actions or functions. Such transactions may be assisted by a broker 30 associated with the user interface 16 or may be manually keyed into a telephone or other suitable electronic device to request execution of a transaction. In other embodiments, the communication network 18 may be any packet data network (PDN) that provides a communications interface or exchange between any two nodes in the gaming system 10. Communications network 18 may alternatively or additionally be any local area network (LAN), metropolitan area network (MAN), wide area network (WAN), wireless local area network (WLAN), virtual private network (VPN), intranet, or any other suitable architecture or system, or combination thereof, that facilitates communications within a network or telephony environment.

In one embodiment, the central controller 40 comprises a processor 42 and a memory element 44. The central controller 40 generally provides back-end functionality for the methods described herein, such as receiving requests from end users 12, and is operable to process these requests to place bets based on events occurring in a market environment, such as financial transactions in a financial market. The resulting bets may be appropriately stored in the memory element 44, such as a database 45 or any other suitable format, after being properly managed and stored by the processor 42. The processor 42 may assist in processing any betting items or conditions requested by the end user 12, such as the desired maturity, exchange transaction type, odds, reference line, market line, high line, low line, spread line value, etc. If the central controller 40 is unable to match the betting information requested by the end user 12 or the bid bet items provided with those available in the market, the central controller 40 may contact the end user 12 and inform the end user 12 of the situation regarding the inability to fulfill the bet.

The processor 42 may include any suitable processor for executing betting system applications or other computer instructions to facilitate betting. The processor 42 may be a CPU and/or a microprocessor, and may comprise any suitable number of processors in cooperation. The processor 42 is generally operable to execute software, various algorithms, calculations, or calculations to determine current bet data, such as betting values, betting odds, markets, high, low, or spread lines, floating or fixed, and/or potential payout data, and to authenticate, verify, or perform any other functions that facilitate the methods disclosed herein. The processor 42 may determine these current bet data based on data received from the memory element 44 and/or from the financial market data element 60. In addition, the processor 42 may update these current bet data based on new information received from the financial market data element 60. In some embodiments, the processor 42 may update the current bet data in real time, substantially in real time, or at preset intervals, such as every 5 to 30 seconds. Additionally, processor 42 may perform the operations described herein to establish betting odds, floating market lines or levels, and provide betting opportunities to end users 12 based thereon. In other embodiments, odds are determined external to gaming system 10 and simply transmitted to central controller 40 via an external link.

The memory element 44 may include one or more memory devices that store information facilitating or related to betting, such as random access memory (RAM), read only memory (ROM), dynamic random access memory (DRAM), fast cycle RAM (FCRAM), static RAM (SRAM), field programmable gate array (FPGA), erasable programmable read only memory (EPROM), electrically erasable programmable read only memory (EEPROM), microcontroller or microprocessor, hard drive, optical media, magnetic media, and the like, or combinations thereof. The memory element 44 is generally operable to store data used by the processor 42 in determining odds and/or payouts. In addition to storing betting information, the memory element 44 may store software therein that, when executed, performs some or all of the functions described herein.

It should be noted that the internal structure of the central controller 40 is flexible and can be readily changed, modified, rearranged, or reconfigured to achieve the intended operation. Thus, the central controller 40 may be equipped with any suitable components, devices, application specific integrated circuits (ASICs), hardware, software, processors, algorithms, ROM elements, RAM elements, EPROM, EEPROM, or any other suitable objects operable to facilitate the operation of the central controller 40. The structure of the central controller 40 provides considerable flexibility within the gaming system 10 environment.

In alternative embodiments, the user interface 16, the communications network 18, and/or the central controller 40 may be replaced in whole or in part with a human being providing a human interface between the end user 12 and the bets associated with the financial markets. In such an embodiment, an agent (or any other suitable person or representative) of the user interface 16 may be contacted by the end user 12, for example, via a telephone, a network, other suitable electronic device, or directly by verbal communication. The agent or representative may receive a request from the end user 12 and execute a transaction, including a bet, such as a bet request, terms of the bet request, and other inputs. The agent or representative may then proxy or broker the request to an appropriate entity for executing the bet. The agent or representative may then record the completed transaction once and then contact the end user 12 to confirm that the transaction has been executed. A receipt of any suitable type may then be issued to the end user 12 indicating the terms of the bet. Additional details relating to the internal structure of the central controller 40 are described below with reference to FIG. 3.

The administrator module 50 is an element that interfaces with the central controller 40 to ensure fair and proper execution of betting transactions initiated by the end users 12. The administrator module 50 is an optional component of the gaming system 10. The administrator module 50 may be used in some embodiments to control any operation of the central controller 40. For example, the administrator module 50 may be used to manually set betting odds, approve margin calls or individual bet requests, or halt certain betting actions. In selected examples, the administrator module 50 may request additional margin throughout the day without waiting for routine end-of-day settlement. In yet other scenarios, the administrator module 50 may be used for general monitoring functions. In this example, the administrator module 50 may act as an interface for a user to submit at least one query to data stored in the system, such as a table or database. The module 50 may also act as an interface to parse, extract, filter, delete, etc., or more generally process data stored in the system. The administrator module 50 may be accessed using a provider interface 32, which may be any type of device similar to the end user interface 16 for communicating with the central controller 40 and/or the administrator module 50. Additionally, the administrator module 50 may be implemented in software, hardware, or a combination thereof.

2 illustrates an interface screen or page 70 for use in communication with at least one embodiment of the methods and systems disclosed herein. The interface screen 70 generally provides an opportunity for an end user 12 to bet on whether a variable associated with a selected market or object, as the case may be, will reach a level higher or lower than a defined market level, such as a market line 71, a high line 73, a low line 75, and a spread line 77, at the end of a trading session or trading day. As noted above, the expiration associated with a bet or bets may vary. For purposes of illustration, the expiration 79 for the interface illustrated in FIG. 2 is a daily expiration ending at the close of the market.

2 illustrates that for the fixed odds and/or floating odds embodiments described above, the system 10 may generate an interface screen including one or more betting lines, graphical objects, buttons, and/or text that collectively provide up to eight betting opportunities with respect to the values of one or more reference variables associated with an object, such as the value of an index, a particular asset or assets, or any other transferable item. As used herein, the term graphical object or graphical object is used to refer to any item displayed on the interface screen that is configured to be selected by the end user 12 to submit a bet request with respect to at least one betting opportunity provided therewith, including, but not limited to, still or video images, text, and buttons. The interface 70 may include a list 72 that includes at least one selectable link for submitting a bet on the selected inter-exchange transaction.

The eight or fewer betting opportunities are based on the ability of the user to bet that the identified market or an object therein will close higher or lower than at least one of four individually defined levels. In this regard, the interface screen 70 may display at least one betting line having a value 81 corresponding to a selected reference variable of the object 89, such as the market price of the object 89, which value 81 may be displayed superimposed on the line 71 along with at least one selectable image for the user to place a bet (up bet) in an up position 76a and at least one selectable image for the user to place a bet (down bet) in a down position 76b relative to the value 81 of the betting line 71. The interface screen 70 may similarly display values for each betting line, such as a value 83 associated with the high line 73, a value 85 associated with the low line 75, and values 87a, 87b associated with the spread line 77, each of which also corresponds to the value of a selected reference variable, with a corresponding image for placing a bet in either an up or down position on each line.

In one embodiment, the graphical objects display the odds for betting on a particular position that has been made available together. The lines may be displayed on the interface screen 70 in a spatial relationship based on the value of the particular line relative to the other line or lines. As shown in FIG. 2, the lines may be spatially arranged with lines of lower value drawn below lines having higher values. The spatial distance between the lines may vary to reflect any closeness in spread between the lines. For example, the distance may be narrowed to provide a scaled view of the betting lines or widened to provide a zoomed view of the betting lines. Images and/or text displayed on the interface screen may be dynamically updated to reflect changes in the value of the objects or changes in the odds for a betting opportunity. Betting data, such as betting lines and odds, is preferably refreshed automatically without user intervention.

In one embodiment, the interface screen 70 includes a high line 73, a current market line 71, and a low line 75 for betting on an index, such as the FTSE. In fixed odds embodiments, the value of a current reference betting line, such as the current market line, is preferably changing to reflect changes in the value of the index in real time. Thus, the high and low line values may also be fluctuating based on the fluctuating current market levels, for example, if the high and low lines are about 1% higher or lower in market value than the reference and then current market level lines, respectively. In more volatile markets or specific needs, such high and low lines may be any suitable percentage level or amount higher or lower than the reference betting line, such as the market line, to achieve preferred fixed odds for each betting position.

The high line 73 in the example of FIG. 2 is at 4404. The high (up bet) and low (down bet) betting opportunities represent certain fixed or fixed odds that persist for at least the duration of the betting session. The higher odds are generally odds against the current level (a sell position) and the lower odds are odds in favor of the current level (a buy position or "odds on"). Thus, a set of bet images 74a and 74b may reflect buy and sell positions relative to the high line. Bet 74a includes odds of 5/1, while bet 74b includes odds of 1/12. Similarly, a set of bet images 80a and 80b may be provided reflecting higher odds of 1/12 (up bet, buy position) and lower odds of 5/1 (down bet, sell position), respectively.

As mentioned above, the values of the market line 71 may fluctuate or may be constantly changing, reflecting the actual market levels for an object such as the FTSE, with fixed odds for high (up bet) or low (down bet) betting opportunities, which in this example are approximately 10/11. The then current market line is at 4354 and includes a pair of bet images 76a and 76b, which represent high (up bet) or low (down bet) positions with associated odds of both 10/11. In addition, separate bet images 78a and 78b may be provided for reference and then the current market line 71, i.e., a derivative of the spread line. Two bets on the spread line are submitted at levels 4361 and 4348, respectively, and are calculated to provide even betting odds for both the up bet and down bet betting opportunities. Thus, the next closest current market level is provided, which also floats with respect to the market line, allowing the customer to bet even amounts on the market spread, i.e., the market expiring above or below the spread line. In this example, the 13 point spread straddles the reference market middle line, providing additional betting opportunities for end user 12.

In addition to reflecting market fluctuations, the values of the high and low lines may also vary over time to maintain desired odds that remain fixed throughout a trading session. As the session expiration approaches, the spread between the high, market, and low lines typically narrows or varies closer based at least on the time remaining in the session. This is also true for the spread line values, with the objective that the odds for betting on them remain even for high (up bet product) and low (down bet product) positions (bet 78a and 78b). Thus, such lines are not only floating in the sense of market fluctuations, but are also converging as time progresses to the close of the betting session. For example, if there are five minutes left to bet in a daily session, these lines are quite narrow. Thus, over the course of a trading day or betting session, the high line typically falls and the low line typically rises, while the odds remain relatively constant, as the case may be.

Similarly, over time, as a market or betting session closes, certain betting opportunities may be disabled or otherwise eliminated due to practical constraints. For example, certain markets typically fluctuate in overall numbers in increments. Thus, for example, spreads such as bet images 74a, 74b, 78a, 78b, 80a, and 80b that are too narrow to provide practical betting opportunities may be eliminated as the market nears closure.

Thus, a betting provider may constrain a betting opportunity by disabling the high and low lines, for example, if the lines are closer than 5 to 10 ticks or any other amount from the market line or both. Similarly, a betting provider may disable a betting opportunity if the odds are too high, such as higher than or equal to a threshold of 100/1, or too low, such as lower than or equal to a threshold of 1/28. A betting opportunity may be disabled by simply deleting the image with the particular disabled bet, as shown in FIG. 7, or by changing the color of the image to a color having a different brightness than the original color, and/or by deleting the odds displayed above the graphical object associated with the particular betting opportunity on the image. For example, an image that is initially bright red may be replaced with a light red image. It should be understood that any type of modification may be used to indicate that a bet has been removed, such as replacing moving images with non-moving images, rotating images with non-rotating images, opaque with transparent or semi-transparent, etc. In addition to voiding an entire line, a provider may void only portions of it, such as the up bet image and/or the down bet image.

In one embodiment, the image reflects a tradeable state of the betting opportunity. The tradeable state may be at least one of "tradeable," "viewable," and "off." In the tradeable state, the image associated with the betting opportunity is both viewable and tradeable, i.e., a user may place a bet by selecting the image. In the viewable state, the image is viewable but not tradeable, e.g., the betting opportunity is removed or otherwise disabled. In the off state, the product is neither viewable nor tradeable.

The odds of 1/12 for buy bets 74b and 80a and the odds of 5/1 for sell bets 74a and 80b, respectively, reflect the fixed odds for the corresponding lines, i.e., 4404 and 4306, which are determined based on the time remaining in the betting session and/or market volatility. Thus, end user 12 may select image 74a and use it to place a $100 bet with odds of 5/1 that the FTSE will close above the high line. If the FTSE closes at 4425 at the end of the trading day, this bet is a winning bet and may be settled at a later time. In this example, end user 12 would collect his original bet plus $500 (W x (5/1)) from the winning bet, for a total of $600. If end user 12 instead selects image 74b and places a $100 bet at odds of 1/12, then at the close of the betting session, this bet will be identified as a losing bet and end user 12 will lose the $100 bet. On the other hand, if the FTSE closes at 4390, end user 12 will be compensated $100 (1/12) (the odds offered) in addition to his original bet. This amounts to a refund of approximately $108.33 for the winning bet.

As discussed above, the prices or values of markets or other reference lines presented to end users 12 may be provided by a communication transmission that reflects market conditions on a daily basis and can effectively account for news flow and other financial parameters that may potentially affect the market. Other embodiments, described in greater detail below, provide the owner or operator of gaming system 10 with great flexibility in setting market lines and odds.

3 is a block diagram of a central controller 40 included in gaming system 10 according to one embodiment. Central controller 40 includes a processor 42 coupled to a memory element 44. Processor 42 executes one or more applications and implements various features and functions for generating and receiving bets on betting opportunities in one or more betting sessions, and settling bets on the value of one or more financial instruments, assets, objects, etc. Memory element 44 may store the applications, various instantiations of betting instruments 90, and/or any other relevant information associated with betting instruments 90. In certain embodiments, the processor 42 includes or includes at least one odds determination module 84 operable to establish, calculate, or otherwise determine odds for positions associated with one or more betting lines as disclosed herein, a price/level determination module 86 operable to establish, calculate, or otherwise determine prices or values for one or more betting lines as disclosed herein, and a bet settlement module 88 operable to settle one or more bets, each module generally for providing betting opportunities to end users 12.

Betting instruments 90 are generally data elements derived from or evidence of a bet placed on the outcome of one or more events pertaining to a financial or other market. Thus, betting instruments 90 are file or database entries containing information reflecting a bet placed on the system 10, and instruments 90 may include parameters related to the particular event that forms the basis of the bet. An event may include the movement or value of a financial market index, asset, or other instrument during or at the end of a given period of time, as described above. The instruments 90 may include all relevant financial data and associated credit items, if applicable, such as participant identification, account information, bet amount, market line level, high line level, low line level, spread line level, up and down odds for each line, the time the bet is placed, the betting session in which the bet is placed, start time, expiration time, bet identification number, the status of the bet, such as, for example, accepted (manual or automatic), pending, expired, won, lost, or any combination thereof. Similarly, the memory element 44 may include one or more templates and/or tables 94 for use in generating a betting session, as will be described in more detail below.

In operation, in one embodiment, the fluctuations of a financial market may be represented graphically on an electronic screen using symbols or graphic objects such as red, green, or yellow arrows. Each symbol may indicate that the value of an associated financial market indicator, such as a reference variable, 1) has fallen during the last betting session or the last predefined period of time, such as the last relevant trade or sale in the market for the object, as for example a downward red arrow or simply a picture or text object of the appropriate color, 2) has risen during the last predefined period or the last relevant trade or sale period, as for example an upward green arrow or simply a picture or text object of the appropriate color, or 3) has not changed during a later predefined period or the last relevant trade or sale period, as for example a horizontal yellow arrow or simply remaining in the original color picture or text object. Any suitable number and combination of symbols may represent a suitable portion of the history or fluctuation of the value of the reference variable. For example, the color of the market line, the typeface of the displayed value, the text box around the displayed value, etc. may be a first color, such as blue, indicating an upward fluctuation in the value of the object. Similarly, the color of the market lines, font, text boxes, etc. may be a second color, such as red, indicating a downward movement in the value of the object. The direction of the movement may be derived, for example, from information indicating that the object is under-bought or under-sold.

The memory element 44 of the central controller 40 may store information regarding various types of bets placed on the gaming system 10 and their outcomes. The memory element 44 may also store various betting instruments 90 and a number of end user profiles 92. The memory element 44 may additionally store information pertaining to the financial instrument number (FIN), the market name that is the subject of a particular bet, the designated term/maturity, and the odds established for a particular bet. These and other fields may be defined in a number of ways. For example, the term "maturity" may refer to a particular closing or settlement time and/or date that the betting instrument 90 closes, or may be based on the event itself, such as the closing bell, being completed at any or a particular date in the future.

Additionally, each end user profile 92 may include any relevant information about the end user 12, the user's wagering activity, biometric data, or the user's financial resources. For example, items such as number of accounts, trading history, loans, fees, available funds, available debits/credits, etc. may be reflected in the profile, fingerprint profile, etc. The end user profile 92 may be accessible only by the end user 12 via a personal identification number, or may be accessed solely by an entity or administrator authorized to perform such actions.

The odds determination module 84 generally determines the odds offered to the end user 12 for a particular bet, and the price determination module 84 determines the betting line values offered to the end user 12 for a particular bet. In general, three factors may be considered in setting the odds and/or betting line values for a betting opportunity: the spot commodity market or generally a reference level, volatility, and time. Volatility represents the uncertainty present in the market over a given period of time. Markets generally follow a log-log distribution, reflecting an abstraction or theory that allows one to adequately estimate market fluctuations. In this sense, the mathematics used to calculate the odds/betting line values is similar to that of pricing options. In other scenarios, the odds calculation may be based at least on the exposure to the owner/operator of the gaming system 10. It is noted that a number of control parameters are provided to the administrator of the gaming system 10. For example, the volatility factor may be manipulated in response to breaking news that is likely to significantly affect the market level. This determination may be made by an administrator and may reflect the administrator's judgment and/or experience with market theory. In other scenarios, such news items are automatically priced into financial markets.

従って、オッズは、価格の値及びリスク値に関して、少なくとも部分的に変数ベースでありうる。さらに他の実施形態において、オッズ決定モジュール８４は、エンド・ユーザ１２に提案されるベットに対するオッズを変化させるために、任意の数の影響要因を使用又は考慮してもよい。任意の数のニュース項目、統計データ、又はイベントが、所与のマーケットに作用又は影響してもよい。これらの要因は、オッズ及び／又はベッティング・ライン値の設定において管理者に考慮されてもよい。このような要因は、マーケット・ニュース又は実況放送、ジョブ・データ、金利、商品価格、消費者支出、消費者信頼性、失業者情報、経済成長、資本支出、国内総生産（ＧＤＰ）データ、社債価格、又は所与のマーケット・ラインに影響する効果を有する場合がある任意の他の情報又はデータを含んでもよい。例えば、金利の低下は、一般的に、当日取引日の間にダウ工業平均株価指数（ＤＪＩＡ）の上昇を引き起こし、オッズ決定モジュール８４は本願明細書に記載のように系統的様式でオッズを、次いでそのオッズが一般的にはシフトして当日のマーケット・パフォーマンスにおけるゲインの確率に対して適応するように、この情報における要因を、計算する。他の実施形態において、このような情報は、管理者に適切な様式でマーケット・ライン内に組み込まれるので、このような操作は不要である。 In an alternative embodiment, odds determination module 84 determines the odds for a particular bet based on the following formula:

Thus, the odds may be at least partially variable based with respect to price values and risk values. In yet other embodiments, the odds determination module 84 may use or consider any number of influencing factors to vary the odds for bets offered to end users 12. Any number of news items, statistical data, or events may act on or affect a given market. These factors may be taken into account by the administrator in setting the odds and/or betting line values. Such factors may include market news or play-by-play, job data, interest rates, commodity prices, consumer spending, consumer confidence, unemployment information, economic growth, capital expenditures, gross domestic product (GDP) data, corporate bond prices, or any other information or data that may have the effect of affecting a given market line. For example, a decrease in interest rates will generally cause an increase in the Dow Jones Industrial Average (DJIA) during the current trading day, and odds determination module 84 will calculate the odds in a systematic manner as described herein and then factor in this information so that the odds will generally shift to accommodate for the probability of a gain in the current day's market performance. In other embodiments, such manipulation is not necessary, as such information is incorporated into the market lines in a manner appropriate to the administrator.

In an example scenario, it is believed that the S&P 500 rarely performs poorly during a United States presidential election year. In the history of the United States stock market, the S&P 500 has only twice delivered negative returns to investors during an election year. Thus, during election years, the control parameters may be implemented to reflect the proposition that the S&P 500 will mostly rise during that time of year. Similarly, markets tend to decline during times of war or patterns of increasing interest rates. In the event of a major war outbreak or a pattern such as a systematic rise in interest rates, the administrator may again manipulate the odds as deemed appropriate, for example by specifying a desired volatility factor to reflect the likelihood of this downward trend.

In yet another scenario, the odds associated with a market may be established based on the current market line in combination with the percentage of the amount bet on that market to the total amount accumulated in the associated betting pool. Since each set of odds corresponds to a percentage, each participant also has a percentage associated with it. To form a participant group for a no-take bet, the gaming system 10 may select participants from a participant field whose total percentages add up to an amount corresponding to the odds. The percentage corresponding to the odds is also referred to as a target percentage. For example, if a representative participant of a participant group has 5-2 odds for an even amount bet, i.e., a target percentage of 50%, and thus an associated percentage of 28%, the gaming system 10 may form a participant group by selecting other participants with a total percentage of 22%, such as a participant with 7-2 odds (22%), a participant with 4-1 odds (20%) and 50-1 odds (2%), or a participant with 7-1 odds (12%) and 9-1 odds (10%). In another example, for a bet with odds of 2-1, i.e., a target percentage of 33%, if the representative participant of the participant group has odds of 6-1, thus carrying a percentage of 14%, the gaming system 10 may form the participant group by selecting other participants with a total percentage of 19%, such as participants with 9-1 odds (10%) and 10-1 odds (9%), participants with 5-1 odds (16%) and 30-1 odds (3%), or a single other participant with 9-2 odds (18%) or 4-1 odds (20%).

Because the number of participants in an event and the odds for a particular participant in an event vary, it may be difficult to organize a participant group with a total percentage of the exact target percentage. For this reason, an administrator of the gaming system 10 may intend to form a participant group with a total percentage as close to the target percentage as possible. In certain embodiments, the gaming system 10, e.g., via the odds determination module 84, may establish a percentage threshold for use in determining whether an odds bet is offered for a particular event. For example, the gaming system 10 may establish a threshold that is 3 percentage points above or below the target percentage. In this example, the gaming system 10 offers odds if the total percentage for the participant group is within 3 percentage points above or below the target percentage. If no bet is established in this scenario, the gaming system 10 may convert the odds bet to a straight odds bet for the representative participant. Gaming system 10 may contemplate forming participant groups using any suitable number and combination in the field of end users 12. This aspect may be implemented by disabling certain bidding opportunities until system 10 receives an opposing side bet to meet a threshold level.

In yet other embodiments, the market lines may be fixed or constant over a given period of time, whereby the odds may be changed in order to entice or encourage end users to make additional bets. For example, if the FTSE rises 300 points in morning trading to reach the 5000 level, the odds may be significantly changed, such as to 50/1 or 100/1, in order to induce people to bet on the FTSE closing below the initial market line. Other events that affect the corresponding rise or fall of the market may also be readily taken into account and are therefore clearly within the teachings of the gaming system 10.

In the above example, the original market line when the FTSE opens is 4700. Therefore, if the FTSE is at the 5000 level, the odds must have been attractive enough to convince potential bettors to engage in a betting opportunity to affect a significant drop in the FTSE. Buy odds prices can therefore be generated to entice investors, i.e. bettors, to place a bet. Market odds can be refreshed many times per day to provide new betting opportunities.

式中、Ｃ（τ）はコール・バイナリ・プライス、すなわち当日の「アップ・ベット」、
Ｐ（τ）はプット・バイナリ・プライス、すなわち当日の「ダウン・ベット」、
σ≡σ（ｔｙｐｅ）はベット・タイプｔｙｐｅ＝｛Ｈｉ，Ｍｉｄ，Ｌｏ｝の関数としての変動率、
ｄ_２（Ｋ，σ）は式中に用いられるｄ_２要因であり、このモデルにおける権利行使及び変動率の関数であり、
ｒは付随する金利、
τは年率換算した満期期間、
Ｔは失効日、すなわち当年の開始日からの日数、
ｔは現在の日付、すなわち当年の開始日から本日までの日数、
Ｓは現物商品のミッド価格、
Ｋは、ベット・タイプに対して付随する権利行使価格（ストライク・プライス）、すなわち、Ｋ_Ｈｉ、Ｋ_Ｍｉｄ、Ｋ_Ｌｏであり、
Ｎ（・）は累積する正規分布である。 Pricing for fixed odds embodiments may be calculated based at least on the relationships shown in the following algorithm.

where C(τ) is the call binary price, i.e., the "up bet" for the day;
P(τ) is the put binary price, i.e., the "down bet" for the day,
σ≡σ(type) is the volatility as a function of bet type, type={Hi, Mid, Lo};
_d2 (K,σ) is the _d2 factor used in the formula, which is a function of exercise and volatility in the model;
r is the associated interest rate,
τ is the annualized maturity period.
T is the expiration date, i.e., the number of days from the start of the current year,
t is the current date, i.e., the number of days from the start of the current year to today,
S is the mid-price of the physical product;
K is the strike price associated with the bet type, i.e., K _Hi , K _Mid , K _Lo ;
N(.) is the cumulative normal distribution.

The odds for the fixed line embodiment are calculated using at least the relationships set forth in the algorithm described below.

式中、Ｋ_{ｉｍｐｌｉｅｄ}は暗黙の権利行使価格（ストライク）、
ｇ（・）は逆数を求める関数、
σは変動率、
τは年率換算した満期期間、
γは許容誤差レベル、
Ｖはバイナリ・プライス、
ｔｙｐｅはオプションのタイプであり、ｔｙｐｅ＝（１，０）≡（ｃａｌｌ，ｐｕｔ）である。 Odds for mid and low line up and down bets are calculated based on similar formulas. Prices for even odds embodiments are calculated based on at least the relationships shown in the algorithm described below.

where K _implied is the implied strike price;
g(·) is the function to find the reciprocal,
σ is the rate of change,
τ is the annualized maturity period.
γ is the tolerance level,
V is the binary price,
type is the type of the option, type=(1,0)≡(call,put).

The odds determination module 84 may be used to determine the odds for this configuration. Additionally, the administrator module 50 may also participate in such a process to establish appropriate odds or refresh the gaming environment to provide new betting opportunities. In other scenarios, any suitable element within the gaming system 10 may be implemented to achieve the configuration of fixed or floating market lines, including the ability to vary the odds used to attract bettors.

FIG. 4(a) is a flow diagram illustrating one or more sequential steps involved in a method for betting on a financial or other market environment. The method may begin at 96 by initiating an initial betting session. The betting session may be initiated at any time, as previously described. For example, the initial betting session may be initiated at the market open of a trading day. For intraday sessions, subsequent betting sessions may be initiated essentially immediately following the expiration of a previous betting session.

In one embodiment, at 98, the system 10 generates a betting product. The betting product may be generated in a variety of ways. The betting product may be generated at any time, such as before or at the start of a betting session. For example, the system 10 may provide a betting product with a graphical element 576a to allow a user to place a bet on a particular betting session that the market price for the Dow will close higher than the opening market price 581 of 11192.8 with odds of 10/11, as shown in FIG. 5. In this regard, the betting product may be a persistent record in a database or file that includes therein relevant data representative of the betting product, such as the market price at the start time of the betting session, the odds for a particular betting opportunity, the expiration time, an outcome identification number, etc. In this example, the system 10 retrieves the betting product data from the database and communicates the betting product to the end user 12 for display based thereon. The database may then be updated to include data regarding the betting product for subsequent betting sessions.

Similarly, the system 10 may generate betting opportunities that are less persistent. That is, the system 10 receives betting data associated with a betting opportunity, such as from financial market data elements 60, and maintains the data temporarily in memory, such as in a system cache, for a sufficient time to provide the betting opportunity to an end user. In one embodiment, this is accomplished by accessing one or more templates, at 100, retrieving bet data based on the one or more templates, at 102, and storing information in memory that represents the betting opportunity, at 104. The system 10 may delete and/or generate additional betting opportunities from memory, at 108, when a betting opportunity expires due to fluctuations in the spot commodity market, immediately after the session has expired, or at any time thereafter. In this regard, the system 10 need not persistently store each betting opportunity in a database or file.

Various types and numbers of templates may be implemented to retrieve bet data and provide betting opportunities based thereon. In one embodiment, the system 10 accesses at least one template, such as a product template that includes at least one field for each item of the betting product, such as an object code, such as FTSE, Dow, etc., a session type, such as hour, day, etc., a start time, an end time, etc. The system 10 then accesses at least one template and at least one table that stores the desired betting data and generates a betting product based thereon. For example, for a betting product with image element 576a of FIG. 5, the system 10 may access a table that includes fields for the object, namely market price, up odds, and session length, and retrieve the Dow, which are 11198.8, 10/11, and 5 minutes, respectively, from at least one data source.

The system 10 may also use multiple templates and/or tables, such as a product table that generates object code, a session table that provides the length of time for a particular session type, etc. For example, there may be a product table that includes a horizontal axis for the FTSE and a horizontal axis for the Dow, and a session table that includes an associated horizontal axis for 60 minute and 7 day intraday and weekly sessions, respectively. The system 10 may implement software that applies templates to each object in the product table, including FTSE intraday and weekly betting opportunities, and Dow intraday and weekly betting opportunities, and uses this to generate betting opportunities for each object.

The system 10 may generate results for any number of objects for any session length. Thus, to have FTSE daily, Vodafone daily, BT daily, FTSE weekly, Vodafone weekly, BT weekly, FTSE hourly, Vodafone hourly, BT hourly, three objects are stored in the product table, namely FTSE, Vodafone and BT, and three time periods are stored in the session table, namely days, weeks and hours. Two general tables are then used by the product templates to generate 3x3 results for a limited time period, for example 780 products per day, 156 products per week, 7020 products per hour, etc. Many different types of templates may be generated. Each template may control many products, and each product may be controlled by many templates. For example, there may be a template for each type of betting session, which is used to read the objects in the product table and generate betting opportunities for each object in the table. The number of each betting product generated is characterized in this example as M*N, where M is the number of objects and N is the number of different session types.

For floating market lines, a betting product is again generated to replace the product as a result of fluctuations in the value of the underlying commodity. Thus, a session may have multiple betting products that are continuously generated to reflect real-time changes in the value of an object, etc. In this example, the start time of a betting product may signal the end of a betting product that started earlier in time on the same object.

At 110, at some time during a betting session, a participant may request information regarding at least one betting product. The request may be submitted via an interface screen, such as the interface screen shown in FIG. 2, which may incorporate at least one element or link that may be selected to request information regarding at least one particular betting product. For example, the interface screen may include links to display betting products associated with an object, such as the Dow, NASDAQ, FTSE, a currency, such as the Euro vs. the US Dollar, etc.

In response to the request, at 112, the system 10 may communicate information related to the request to the participant. The information may be communicated to the participant in various formats, such as electronic files, such as HTML or XML documents, which may support the display of Flash™ files or other image files. The communication may cause an interface screen to be displayed in the user interface 16 containing the relevant information, such as the interface screens shown in Figures 2 and 5-11. The information communicated to the participant may be determined in various ways. For example, betting product information, such as a market price or any other value associated with the object, may be retrieved from a database or from a stream source of market data for the object. For other types of information, the system 10 may determine the relevant betting product information, such as high levels, low levels, spread levels, and odds for up and down positions at each level, by calculating these types of information as described above.

In one embodiment, the betting product information at 114 is refreshed or reissued at least once within a betting session, or preferably periodically. For example, the information is reissued periodically to reflect changes in market values of objects in real time or otherwise, thereby erasing or expiring bet images that void certain betting opportunities, changing the color of images to indicate the direction of changes in the market, etc. The product information may be updated using FlashMediaServer™ software, which updates the information and media components as appropriate. As discussed above, refreshing the betting product information may signal the end of a betting product in a betting session, and the creation of a subsequent betting product in the same session for the same product. The information is preferably refreshed automatically without participant intervention.

At 116, the system 10 listens for a bet request from at least one participant. A participant may submit a bet request in a variety of ways. In one embodiment, a participant submits a bet request by selecting an image associated with at least one betting level or line. Similarly, the bet request may include a bet amount.

After receiving, and preferably in response to, the bet request, at 118 the system 10 communicates at least one of the terms of the bet to the participant for confirmation. The terms may include at least one of the participant's identification information, account information, the amount of the bet, the marker line level, the high line level, the low line level, the spread line level, the up and down odds for each line, the time the bet was made, the betting session in which the bet was made, the duration of the betting session, the start time of the betting session, the expiration time of the betting session, a bet identification number, and the like. The terms of the request preferably reflect a particular selected betting product. For example, terms for a fixed odds bet on a market price of an object may include fixed odds for a particular selected position, such as an up or down position, and the market price at the time the bet request is submitted. Similarly, terms for a floating odds bet on a market price of an object may include odds for a selected position determined at the time the bet request is submitted, and the market price at the start of the session. The items may be conveyed as fields within an interface screen incorporating at least one selectable element for confirming a bet and/or at least one element for the purpose of allowing a participant to change one or more items, such as the amount of a bet.

A confirmed bet request is generally received at 120 and validated at 122. Validation may include one or more steps. For example, validation may involve determining whether a selected betting product exists, is valid, and is available for trading. Similarly, validation may involve verifying that no bet lapses have occurred in the past and that the odds or value items of the bet request do not differ significantly, e.g., by 50%, from those communicated to the participant, or that the bet is not zero and is between any minimum and maximum ranges.

The betting instrument 90 may then be created at 124 to include an item of the one or more bets it represents, as described above. The betting instrument 90 is typically a persistent record, e.g., in a table, database, or disaster resilient cache, that is preserved at least until the settlement of the bet.

At 126, a determination is made as to whether the betting session has expired. If the betting session has not expired at 126, the system 10 refreshes and continues to refresh the betting product information at 114 while listening to bet requests. If the system 10 determines that the betting session has expired at 116, the system 10 proceeds with the settlement of the bet at 128, starts a subsequent session at 132, or ends processing for a particular trading day at 120 if no additional sessions are to be started during that trading day. The setting may be made immediately after the expiration of the betting session, for example, via a debit or credit to the end user's account, in parallel with the execution of the next betting session, or extended if the end user 12 has extended a certain amount of credit. In other cases, as permitted by the relationship between the end user 12 and the administrator, the payment may simply be mailed or electronically communicated by the betting provider in the case of a win, or by the end user 12 in the case of a loss. Similarly, biometric data may be used to verify payments or debits from authenticated account users.

Settlement may occur in any number of ways, based on particular demand. A given end user 12 may have a certain number of bets in effect at any given time. For example, an end user 12 may be betting on an overall rise in the NASDAQ market, with a one day expiration period and a conversion in German DAN (short positions) (having a five minute expiration period). Thus, the method of FIG. 4(a) may be repeated for each session, object, betting opportunity, etc., to provide such functionality. Additionally, settlement may occur for multiple bets with different expiration periods at a common time, such as the last expiration period of bets expiring within the same trading day or week, or at the end of the trading day.

Any relevant information may be communicated to the end user 12 of the gaming system so that the end user is notified that the value of his/her betting instrument 90 is changing or of news that may affect his/her position. For example, market level data, employment figures, and/or GDP statistics may be provided to the end user 12. Other information provided may simply update the expected value of the betting instrument 90 based on current market conditions. The administrator of the gaming system 10 may ignore this information or use it to provide new betting opportunities for potential gamers. These opportunities may be immediately displayed to the end user 12 so that he/she may participate in further betting opportunities through the gaming system 10.

As mentioned above, a bet request may be validated in a variety of ways. With reference to FIG. 4(b), in one embodiment, validation begins with receiving a bet request at 2020. At 204, a determination is made as to whether any other requests have been deemed valid. For example, if there has been no previous validation of a bet request within the same betting session, the system 10 applies at least one validation test to the bet request at 206. The system 10 applies tests to determine, for example, whether a betting product exists at 208, is valid at 210, or is tradeable at 212. The system 10 may also determine whether the session or the bet request itself has expired at 214, or whether the bet request has at least one item that exceeds a certain limit at 216. Any number of restrictions may be applied to the validation process, such as minimum, maximum, and non-zero restrictions, where the system determines whether a bet exceeds a participant or sponsor betting limit. The system 10 may also determine at 218 whether a value, such as a market price, has differed from that communicated from the recipient of the bet request to the participant within a certain period of time. For example, the system may validate the bet request if the betting line value for the bet request does not exceed a certain percentage, such as 50%, or a certain amount, from the value communicated to the participant prior to the bet request, such as within 30 seconds. Similarly, a determination may be made as to the trustworthiness of the user submitting the bet request based on biometric data received from the user, such as by comparing it to that stored within the system.

In one embodiment, at 218, a determination is made as to whether the bet request is suspicious. That is, in some instances, a participant may not want the incoming data to replace expired data previously communicated to the participant. The participant may then place a bet on the expired betting line value and corresponding odds that are more favorable to the participant than the current betting line value. For example, as shown in FIG. 5, a low line value of 11183.8 for the Dow at time T ₁ may be offered to the participant with down bet odds of 6/1. At a later time T ₂ , as shown in FIG. 9, the market price moves below the low line value at T ₁ to 11255.2. Thus, the down bet, i.e., the low line value, placed at T ₁ becomes "money" at the market price at T _2. Thus, a determination may be made as to whether the participant intends to bet on the expired more favorable betting line value and/or bet. This may be accomplished in various ways. In one embodiment, system 10 determines whether the betting line value or odds of the bet request are any one of a number generated as of the activation time. For example, in relatively less volatile markets, the betting line value or odds of the bet request may be required to match that of the current betting opportunity. In more volatile markets, the bet request may be required to match at least one of the previous three betting opportunities. Exceptions may apply if the current market conditions at the activation time are less favorable for the bet request.

If a determination is made that the bet request is invalid, then an appropriate message may be communicated to the participant at 226. Similarly, a valid request may be triggered at 222 indicating a determination that the bet is valid and/or accepted.

If the other request is deemed valid at 204, the system 10 compares the bet request to the validated requests at 232 to determine whether at least one of the items of the bet request falls within a certain range or threshold of the confirmed request. If the bet request does not fall within the range, the bet request may be tested by a default validation test at 206. If the bet request falls within the range, the bet request may be automatically approved at 222 and a message to that effect may be communicated to the participant, thereby passing the default validation test. Various criteria may be applied in this regard. For example, the bet request may be automatically approved if the time, betting line value, odds, or a combination of these fall within a certain range of that of the manually or otherwise confirmed bet request. For example, the bet request may be automatically approved if the bet request is within 5 seconds and within 3 price units (ticks), such as between 4503 and 4497, of the betting line value of the manually confirmed bet request at 4500. Depending on the session duration, time measures may range anywhere from 1 to less than 30 seconds or more. Price measures may similarly range anywhere from 1 to 1000 units.

5-8 illustrate interface screens for use in connection with at least one of the floating odds/fixed line embodiments described herein. The interface screen 500 may include a list 72 having at least one selectable link for a user to display betting opportunities for a particular object, such as an index link and an FX link. Each of the links may be further drilled down to allow the user to select an index from a number of available indexes, such as FTSE, Dow, and select a number of available foreign exchanges, such as USD vs. EUR, USD vs. JPY. The system may further provide multiple betting opportunities for each object with different session lengths, and in this example, the list 72 may allow the user to drill down to a particular session length, such as 5 minutes, 1 hour, 1 day, 1 week, etc.

When selecting one of the links, the user typically submits a request to bet on information about the selected object associated with that link. In response to this selection, the system updates or otherwise generates a display of at least one betting line incorporated in the interface screen 500, such as a reference start level line 571, a high line 573, and a low line 575. Each of the betting lines may have associated values, such as a market value 581 above the reference start level line 571, a high line value 583 above the high line 573, and a low line value 585 above the low line 575, e.g., superimposed above the line. Each of the lines and values may have at least one image of a betting opportunity selectably associated therewith for use by the user to submit a bet request. For example, the start level line may have an up bet image 576a and a down bet image 576b associated therewith. Similarly, high and low lines may be included with up bet images 574a, 580a and down bet images 574b, 580b. The interface screen 500 includes odds for each betting opportunity offered, which are displayed on the selectable images of each betting opportunity. The interface screen 500 may also include a running level line 506 that indicates the value of the market at different times within a betting session to reflect changes in the value of the object in real time. The running level line 506 may move spatially, for example, vertically relative to the displayed betting lines.

5-8 are interface screens offering betting opportunities on the Dow for a five minute betting session ending at 11:55 AM on August 3. It can be seen that the betting line values remain the same during the betting session, and the odds for each betting opportunity change based at least on the value of the live level line 506. It can also be seen that the down betting opportunity associated with the high level line 574b in FIG. 5 was disabled in FIG. 6. As the time of the betting session progresses, the sell position betting opportunity images 583b, 580b may be disabled as shown in FIG. 7. Similarly, all betting opportunity images may be disabled near the close of the session as shown in FIG. 8. FIG. 9 shows that the interface screen 500 with the down bet images 576b, 583b has been disabled based on the movement of the live level line 506 toward these positions relative to the start level 571 line and the high level line 573.

10-11 illustrate interface screens for use in connection with at least one of the embodiments of the fixed odds/variable lines described herein. In response to selecting one of the links 72, the system updates the interface screen 500 to include at least one betting line, such as a current level line 671, a high line 673, a low line 675, and a spread line 677. Each of the betting lines has an associated value superimposed above the line, such as a market value above the starting level line 671, a high line value 683 above the high line 673, a low line value 685 above the low line 675, and a spread value 687a above the spread line 677. Each of the lines and values may have at least one selectably associated betting opportunity image for use by a user to submit a bet request. For example, the reference current level line 671 may have an up bet image 676a and a down bet image 676b associated therewith. Similarly, the high, low, and spread lines may have associated up bet images 674a, 680a, 678a and down bet images 674b, 680b, 678b. In this example, the interface screen 500 updates the current level line and upper betting line values at different times during a betting session to reflect real-time changes in the value of the objects.

10-11 provide successive betting opportunities on the Dow in a five-minute betting session ending at 14:25pm on August 3rd. It can be seen that the odds for each offered betting opportunity remain constant during the betting session, and the values of the betting level lines change to reflect the fluctuations in the market value of the Dow. The spread between the high and low lines narrows from 15.5 in FIG. 10 to 14.5 in FIG. 6. Upward or downward movements in the spot commodity market may be displayed on the interface screen. For example, upward movements may be shown in blue, as shown above the low line value 685 in FIG. 11, and downward movements may be shown in red, as shown above the spread line values 687a, 687b in FIG. 11.

Although the foregoing invention has been described in detail for clarity of understanding, those skilled in the art will appreciate that upon reading and understanding this disclosure, various changes in form and detail may be made without departing from the true scope of the invention as defined by the appended claims.

(First Supplementary Note)
The method of first appendix 1 is a method implemented using a system including at least one processor and a memory element having stored software, the method including the steps of initiating a first betting session; communicating, by the at least one processor, betting product information to at least one user; receiving, by the at least one processor, a plurality of bet requests from a user to place bets on at least one betting product, each of the plurality of bet requests including at least one betting item of the betting product information; validating one of the plurality of bet requests; and validating, by the at least one processor, another of the plurality of bet requests. the step of determining, by the at least one processor, that a numerical item associated with one of the plurality of bet requests is within a non-zero range relative to a corresponding numerical item associated with one of the plurality of activated bet requests; validating, by the at least one processor, the other of the plurality of bet requests based on determining that the numerical item associated with the other of the plurality of bet requests is within a non-zero range relative to a corresponding numerical item associated with one of the plurality of activated bet requests; generating, by the at least one processor, bet means for each of the activated bet requests based at least in part on the validating of one of the plurality of bet requests and the validating of the other of the plurality of bet requests; and settling a bet associated with the bet means.
The method of first clause 2 is the method of first clause 1, wherein the step of validating one of the plurality of bet requests is performed manually.
The method of first supplementary note 3 is the method of first supplementary note 1, wherein the step of validating one of the plurality of bet requests comprises applying at least one validation test selected from among: determining whether the betting product exists; determining whether the betting product is active; determining whether the betting product is tradable; and determining whether the bet request exceeds a limit.
The method of first appendix 4 is the method of first appendix 1, wherein the step of validating one of the plurality of bet requests includes determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user.
The method of first appendix 5 is the method of first appendix 1, wherein the step of validating one of the plurality of bet requests includes determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user within a period of time following receipt of one of the plurality of bet requests.
The method of first appendix 6 is the method of first appendix 1, wherein the step of validating one of the plurality of bet requests includes determining whether an item associated with the bet request differs by a predetermined amount from information of the betting product communicated to the at least one user.
The method of first appendix 7 is the method of first appendix 1, wherein the at least one betting item includes a betting line value, and another one of the plurality of bet requests is activated based on the betting line value associated with the other one of the plurality of bet requests being within a range relative to the betting line value associated with one of the activated bet requests.
The method of first appendix 8 is the method of first appendix 1, wherein the at least one betting item includes odds for a bet request, and another one of the plurality of bet requests is activated based on the odds associated with another one of the plurality of bet requests being within a range relative to the odds associated with one of the activated bet requests.
The method of first appendix 9 is a method as described in first appendix 1, wherein the at least one betting item includes a time of a bet request, and another one of the plurality of bet requests is activated based on the time associated with another one of the plurality of bet requests being within a range relative to the time associated with one of the activated bet requests.
The method of first Supplementary Note 10 is the method of first Supplementary Note 1, including initiating a second betting session immediately after expiration of the first betting session.
The system of the first appendix 11 is a system including at least one processor and a memory element having stored software, the system including the steps of: initiating a first betting session by the at least one processor; communicating, by the at least one processor, betting product information to at least one user; receiving, by the at least one processor, a plurality of bet requests from one user to place bets on at least one betting product, each of the plurality of bet requests including at least one betting item of the betting product information; validating one of the plurality of bet requests; and validating, by the at least one processor, other of the plurality of bet requests. determining, by the at least one processor, that a numerical item associated with one of the plurality of bet requests is within a non-zero range relative to a corresponding numerical item associated with one of the plurality of activated bet requests; validating, by the at least one processor, another of the plurality of bet requests based on determining that the numerical item associated with the other of the plurality of bet requests is within a non-zero range relative to a corresponding numerical item associated with one of the plurality of activated bet requests; generating, by the at least one processor, bet means for each of the activated bet requests based at least in part on validating one of the plurality of bet requests and validating the other of the plurality of bet requests; and settling a bet associated with the bet means.
The system of first appendix 12 performs the method of the system of first appendix 11, wherein the step of validating one of the plurality of bet requests is performed manually.
The system of first appendix 13 performs a method in the system described in first appendix 11, wherein the step of validating one of the plurality of bet requests includes applying at least one validation test selected from among: determining whether the betting product exists; determining whether the betting product is active; determining whether the betting product is tradable; and determining whether the bet request exceeds a limit.
The system of first appendix 14 performs a method in the system described in first appendix 11, wherein the step of validating one of the plurality of bet requests includes determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user.
The system of first appendix 15 performs a method in the system described in first appendix 11, wherein the step of validating one of the plurality of bet requests includes determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user within a certain period of time after receiving one of the plurality of bet requests.
The system of first appendix 16 performs a method in the system described in first appendix 11, wherein the step of validating one of the plurality of bet requests includes determining whether an item associated with the bet request differs by a predetermined amount from information of the betting product communicated to the at least one user.
The system of first appendix 17 performs a method of the system described in first appendix 11, wherein the at least one betting item includes a betting line value, and another one of the plurality of bet requests is activated based on the betting line value associated with another one of the plurality of bet requests being within a range relative to the betting line value associated with one of the activated bet requests.
The system of first appendix 18 performs a method of the system described in first appendix 11, wherein the at least one betting item includes odds for a bet request, and another one of the plurality of bet requests is activated based on the odds associated with another one of the plurality of bet requests being within a range relative to the odds associated with one of the activated bet requests.
The system of first appendix 19 performs a method of the system described in first appendix 11, wherein the at least one betting item includes a time of a bet request, and another one of the plurality of bet requests is activated based on the time associated with another one of the plurality of bet requests being within a range relative to the time associated with one of the activated bet requests.
The system of first supplementary note 20 performs a method in the system of first supplementary note 11 including the step of initiating a second betting session immediately after expiration of the first betting session.

(Second Supplementary Note)
The method of Second Appendix 1 is a method executed using a system including at least one processor and a memory element in which software including a program executed by the at least one processor is stored, the at least one processor, when the program is executed by the at least one processor, includes the steps of initiating a first betting session, generating a betting product and storing it in the memory element and communicating to at least one user information about the betting product stored in the memory element, receiving from one user a plurality of bet requests for placing bets on at least one betting product and storing them in the memory element, each of the plurality of bet requests including at least one betting item of the information about the betting product, and validating one of the plurality of bet requests stored in the memory element. a step of comparing a numeric item associated with another one of the plurality of bet requests stored in the memory element with a corresponding numeric item associated with one of the activated bet requests to determine that the numeric item is within a non-zero range relative to the corresponding numeric item; a step of activating the other one of the plurality of bet requests based on determining that the numeric item associated with the other one of the plurality of bet requests stored in the memory element is within a non-zero range relative to the corresponding numeric item associated with the activated one of the plurality of bet requests; a step of generating and storing in the memory element betting options for each of the activated bet requests based at least in part on the activation of the one of the plurality of bet requests and the activation of the other one of the plurality of bet requests; and a step of settling a bet associated with the betting options stored in the memory element.
The method of Second Appendix 2 is a method of Second Appendix 1, wherein, when the program is executed by the at least one processor, the at least one processor performs a step of validating one of the plurality of bet requests based on a manual operation.
The method of Second Appendix 3 is the method of Second Appendix 1, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, applying at least one validation test selected from among: determining whether the betting product exists; determining whether the betting product is active; determining whether the betting product is tradable; and determining whether the bet request exceeds a limit, by the at least one processor.
The method of Second Appendix 4 is a method of Second Appendix 1, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user.
The method of Second Supplementary Note 5 is a method of Second Supplementary Note 1, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user within a certain period of time after receiving one of the plurality of bet requests.
The method of Second Appendix 6 is a method of Second Appendix 1, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor determining whether an item associated with the bet request differs by a predetermined amount from information of the betting product communicated to the at least one user.
The method of Second Supplementary Note 7 is the method of Second Supplementary Note 1, wherein the at least one betting item includes a betting line value, and the step of validating another one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor validating the other one of the plurality of bet requests based on the betting line value associated with the other one of the plurality of bet requests being within a certain range relative to the betting line value associated with one of the validated one of the plurality of bet requests.
The method of Second Appendix 8 is the method of Second Appendix 1, wherein the at least one betting item includes odds for a bet request, and the step of validating another one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor validating the other one of the plurality of bet requests based on the odds associated with the other one of the plurality of bet requests being within a range relative to the odds associated with one of the validated plurality of bet requests.
The method of Second Appendix 9 is a method of Second Appendix 1, wherein the at least one betting item includes a time of a bet request, and the step of validating another one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor validating the other one of the plurality of bet requests based on the time associated with the other one of the plurality of bet requests being within a certain range relative to the time associated with one of the validated bet requests.
The method of Second Supplementary Note 10 is the method of Second Supplementary Note 1, further comprising, when the program is executed by the at least one processor, a step of the at least one processor initiating a second betting session immediately after expiration of the first betting session.
The system of the second appendix 11 includes at least one processor and a memory element in which software including a program executed by the at least one processor is stored, the at least one processor, when the program is executed by the at least one processor, includes the steps of: starting a first betting session; generating a betting product and storing it in the memory element, and transmitting information of the betting product stored in the memory element to at least one user; receiving a plurality of bet requests from one user for placing bets on at least one betting product and storing them in the memory element, each of the plurality of bet requests including at least one betting item of the information of the betting product; validating one of the plurality of bet requests stored in the memory element; and a step of comparing a numerical item associated with another one of the plurality of bet requests stored in the memory element with a corresponding numerical item associated with one of the activated bet requests to determine whether the numerical item is within a non-zero range relative to the corresponding numerical item; a step of activating the other one of the plurality of bet requests based on determining that the numerical item associated with the other one of the plurality of bet requests stored in the memory element is within a non-zero range relative to the corresponding numerical item associated with one of the activated bet requests; a step of generating and storing betting means for each of the activated bet requests based at least in part on the activation of the one of the plurality of bet requests and the activation of the other one of the plurality of bet requests in the memory element; and a step of settling a bet associated with the betting means stored in the memory element.
The system of Second Appendix 12 is a system that executes a method in the system of Second Appendix 11, wherein when the program is executed by the at least one processor, the at least one processor performs a step of validating one of the plurality of bet requests based on a manual operation.
The system of Second Appendix 13 is a system for executing a method in the system of Second Appendix 11, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, applying at least one validation test selected from among: determining whether the betting product exists; determining whether the betting product is active; determining whether the betting product is tradable; and determining whether the bet request exceeds a limit, by the at least one processor.
The system of Second Appendix 14 is a system that executes a method in the system of Second Appendix 11, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user.
The system of Second Appendix 15 is a system that executes a method in the system of Second Appendix 11, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor determining whether items associated with the bet request differ from information about the betting product that was communicated to the at least one user within a certain period of time after receiving one of the plurality of bet requests.
The system of Second Appendix 16 is a system that executes a method in the system of Second Appendix 11, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor determining whether an item associated with the bet request differs by a predetermined amount from information of the betting product communicated to the at least one user.
The system of Second Appendix 17 is a system that executes a method in the system of Second Appendix 11, wherein the at least one betting item includes a betting line value, and the step of validating another one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor validating the other one of the plurality of bet requests based on the betting line value associated with the other one of the plurality of bet requests being within a certain range relative to the betting line value associated with one of the validated one of the plurality of bet requests.
The system of Second Appendix 18 is a system that executes a method in the system of Second Appendix 11, wherein the at least one betting item includes odds for a bet request, and the step of validating another one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor validating the other one of the plurality of bet requests based on the odds associated with the other one of the plurality of bet requests being within a range relative to the odds associated with one of the validated one of the plurality of bet requests.
The system of Second Appendix 19 is a system for executing a method in the system of Second Appendix 11, wherein the at least one betting item includes a time of a bet request, and the step of validating another one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor validating the other one of the plurality of bet requests based on the time associated with the other one of the plurality of bet requests being within a certain range relative to the time associated with one of the validated one of the plurality of bet requests.
The system of second appendix 20 is a system that executes a method in the system of second appendix 11, the method including, when the program is executed by the at least one processor, the at least one processor initiating a second betting session immediately after expiration of the first betting session.

Claims (10)

at least one processor,
The at least one processor:
communicating betting product information about a betting product to at least one user's communication device during a first betting session over a communications network to activate a display state of at least first and second betting images in a graphical user interface of the communication device, the first and second betting images being displayed in the graphical user interface, and first and second betting information being displayed as the first and second betting images, respectively;
the graphical user interface is configured to display, during the first betting session, a plurality of lines and a plurality of value indices associated with each of the plurality of lines, the plurality of value indices configured to display betting line values corresponding to each of the plurality of lines, the plurality of lines including a market line, a first spread line, a second spread line, a high line, and a low line;
the position of the market lines is related to a market price of a betting object, the betting product is associated with the betting object, and the position of each of the plurality of lines is movable in response to changes to a real-time value of the market price during the first betting session;
the first and second spread lines extend from the market line such that the first spread line extends upward from the market line and the second spread line extends downward from the market line;
the market line, the first and second spread lines, and the high and low lines are spatially positioned relative to one another in the graphical user interface based at least on the betting line values such that the high line and the low line are spaced apart from the market line and the first and second spread lines;
the first betting image is configured to indicate whether a respective one of the value indicators has changed;
the second betting image is configured to indicate whether a respective one of the value indicators has changed;
automatically responsive to determining during the first betting session at least one of: (i) a current time having a predetermined relationship to an end of the first betting session; or (ii) a change in a predetermined betting line value relative to a predetermined betting reference value, disabling a display state of one of the first and second betting images by communicating updated betting product information over the communications network in real time and refreshing the image user interface to display a predetermined betting image and not display the one betting image;
receiving, via the communications network, a first bet request from a first communications device of a first user for a first bet on the betting product, the first bet request including a first bet item;
receiving, via the communications network, a second bet request from a second communications device of a second user for a second bet, the second bet request including a second betting item;
validating the first bet request;
determining that a numerical term associated with the second bet request is within a non-zero range of a corresponding numerical term associated with the validated first bet request;
activating the second bet request based on determining that a numerical item associated with the second bet request is within a non-zero range of a corresponding numerical item associated with the activated first bet request;
settling a bet associated with the first bet request and a bet associated with the second bet request.
Device. The step of validating the first bet request includes:
determining whether said betting product exists;
determining whether the betting product is active;
determining whether the betting product is available for trading; or determining whether the first bet request exceeds a limit.
2. The apparatus of claim 1. The step of validating the first bet request includes:
determining whether an item associated with the first bet request differs from the betting product information communicated to the at least one user;
determining whether the items associated with the first bet request are different from data about the betting product communicated to the at least one user within a period of time from receipt of the first bet request; or
determining whether an item associated with the first bet request differs from the betting product information communicated to the at least one user by more than a predetermined amount;
2. The apparatus of claim 1. The second bet request comprises:
a second betting line value associated with the second bet request that is within a range from a first betting line value associated with the validated first bet request;
odds associated with the second bet request that are within a range from the odds associated with the validated first bet request; or
a time associated with the second bet request that is within a range from a time associated with the first bet request;
is enabled based on at least one of
2. The apparatus of claim 1. At least one processor
in response to validating the first bet request, generating betting means for the validated first bet request;
generating betting means for the validated second bet request in response to validating the second bet request;
configured to control
2. The apparatus of claim 1. the betting product includes at least one of an up bet or a down bet on a second predetermined betting line value corresponding to each one of the lines;
2. The apparatus of claim 1. the first and second betting images are for displaying the up-bet and the down-bet, respectively, and the predetermined betting reference value corresponds to the betting line value;
7. The apparatus of claim 6. At least one processor
communicating betting product information about a betting product to at least one user's communication device during a first betting session over a communications network to activate a display state of at least first and second betting images in a graphical user interface of the communication device, the first and second betting images being displayed in the graphical user interface, and first and second betting information being displayed as the first and second betting images, respectively;
the graphical user interface is configured to display, during the first betting session, a plurality of lines and a plurality of value indices associated with each of the plurality of lines, the plurality of value indices configured to display betting line values corresponding to each of the plurality of lines, the plurality of lines including a market line, a first spread line, a second spread line, a high line, and a low line;
the position of the market lines is related to a market price of a betting object, the betting product is associated with the betting object, and the position of each of the plurality of lines is movable in response to changes to a real-time value of the market price during the first betting session;
the first and second spread lines extend from the market line such that the first spread line extends upward from the market line and the second spread line extends downward from the market line;
the market line, the first and second spread lines, and the high and low lines are spatially positioned relative to one another in the graphical user interface based at least on the betting line values such that the high line and the low line are spaced apart from the market line and the first and second spread lines;
the first betting image is configured to indicate whether a respective one of the value indicators has changed;
the second betting image is configured to indicate whether a respective one of the value indicators has changed;
automatically responsive to determining during the first betting session at least one of: (i) a current time having a predetermined relationship to an end of the first betting session; or (ii) a change in a predetermined betting line value relative to a predetermined betting reference value, disabling a display state of one of the first and second betting images by communicating updated betting product information over the communications network in real time and refreshing the image user interface to display a predetermined betting image and not display the one betting image;
receiving, via the communications network, a first bet request from a first communications device of a first user for a first bet on the betting product, the first bet request including a first bet item;
receiving, via the communications network, a second bet request from a second communications device of a second user for a second bet, the second bet request including a second betting item;
validating the first bet request;
determining that a numerical term associated with the second bet request is within a non-zero range of a corresponding numerical term associated with the validated first bet request;
activating the second bet request based on determining that a numerical item associated with the second bet request is within a non-zero range of a corresponding numerical item associated with the activated first bet request;
settling a bet associated with the first bet request and a bet associated with the second bet request.
Method. The step of validating the first bet request includes:
determining whether said betting product exists;
determining whether the betting product is active;
determining whether the betting product is available for trading; or
determining whether the first bet request exceeds a limit;
The method according to claim 8. A non-transitory machine-readable medium having instructions stored thereon, the instructions, when executed by at least one processor,
communicating betting product information about a betting product to at least one user's communication device during a first betting session over a communications network to activate a display state of at least first and second betting images in a graphical user interface of the communication device, the first and second betting images being displayed in the graphical user interface, and first and second betting information being displayed as the first and second betting images, respectively;
the graphical user interface is configured to display, during the first betting session, a plurality of lines and a plurality of value indices associated with each of the plurality of lines, the plurality of value indices configured to display betting line values corresponding to each of the plurality of lines, the plurality of lines including a market line, a first spread line, a second spread line, a high line, and a low line;
the position of the market lines is related to a market price of a betting object, the betting product is associated with the betting object, and the position of each of the plurality of lines is movable in response to changes to a real-time value of the market price during the first betting session;
the first and second spread lines extend from the market line such that the first spread line extends upward from the market line and the second spread line extends downward from the market line;
the market line, the first and second spread lines, and the high and low lines are spatially positioned relative to one another in the graphical user interface based at least on the betting line values such that the high line and the low line are spaced apart from the market line and the first and second spread lines;
the first betting image is configured to indicate whether a respective one of the value indicators has changed;
the second betting image is configured to indicate whether a respective one of the value indicators has changed;
automatically responsive to determining during the first betting session at least one of: (i) a current time having a predetermined relationship to an end of the first betting session; or (ii) a change in a predetermined betting line value relative to a predetermined betting reference value, disabling a display state of one of the first and second betting images by communicating updated betting product information over the communications network in real time and refreshing the image user interface to display a predetermined betting image and not display the one betting image;
receiving, via the communications network, a first bet request from a first communications device of a first user for a first bet on the betting product, the first bet request including a first bet item;
receiving, via the communications network, a second bet request from a second communications device of a second user for a second bet, the second bet request including a second betting item;
validating the first bet request;
determining that a numerical term associated with the second bet request is within a non-zero range of a corresponding numerical term associated with the validated first bet request;
activating the second bet request based on determining that a numerical item associated with the second bet request is within a non-zero range of a corresponding numerical item associated with the activated first bet request;
settling a bet associated with the first bet request and a bet associated with the second bet request.
Medium.

Images