TWI767880B - Method and apparatus for wager sell back option and related computer-readable medium - Google Patents

Abstract

A user may purchase an option to cancel a wager in exchange for a refund amount. In purchasing the option, the user may select an exercise time from a plurality of exercise times, eachexercise time having an associated price, which price may be the price of the option. The refund amount associated with each exercise time may be the same amount. Responsive to a user exercising a purchased option, a determination may be made as to whether the time of exercise is at least prior to the selected exercise time. If so, the wager may be canceled in exchange for the refund amount.

Description

Method and apparatus and related computer-readable media for betting sell-back options

This disclosure relates generally to wagering.

An organization, company, institution, or other entity that accepts wagers or places bets for gamblers on the general outcome of an event (eg, a score or other attribute on a sporting event) is known as a sports book. The role of the sports wagering registry is to act as a market maker for sports wagering. Sports wagering registries accept wagers placed against teams or competitors and may maintain spreads in order to secure sports wagers, for example, by attempting to attract equal dollar amounts of wagers against each team or competitor in a particular event The profit of the registry (ie, the tap), for example, regardless of the outcome of the bet. Sports wagering registries are often constantly striving to improve profits, for example, while maintaining the interest of current bettors and attracting new bettors.

According to one example, a request to place a wager on an event may be received from a user. The user may be presented with the option to cancel the wager in exchange for a refund amount for purchase. Presenting the option may include presenting at least a first use time having a first fee associated with the first use time and a second use time having a first cost associated with the second use time for selection by the user A second fee associated with the use of time. The price of the option may be based on a fee associated with the time of use selected by the user. The selection of the first play time may allow the user to cancel the wager at least before the first play time in exchange for the refund amount, and the selection of the second play time may allow the user to cancel the wager at least before the second play time in exchange for the refund amount . The refund amount associated with each of the first usage time and the second usage time may be the same amount. Receive an indication that the user is purchasing an option. At the same time of purchase, the selection of the first operating time and/or the second operating time by the user can also be received. recordable (such as recorded on a memory device, paper Zhang et al. in/above) An indication that the user has paid for the option, the price of which is based, for example, on the fee associated with the time of use selected by the user. Receive an indication that the user is exercising the option. A determination can then be made as to when the indication was received compared to the time of use. If an instruction is received at least before the selected run time, the bet may be cancelled in exchange for a refund amount. In the alternative, if an instruction is received after the selected play time, eg, the option may expire, the user's wager may remain as is/uncancelled, and the user may win based on the outcome of the event wagered Or lose your bet. As another alternative, the selected exercise time may elapse without the user exercising the option/not receiving an indication that the user is exercising the option. Again, the option may expire, the user's wager may remain as-is/uncancelled, and the user may win or lose bets based on the outcome of the event wagered.

According to another example and/or additional examples, a request to place a wager on an event may be received from a user. The user may be presented with a plurality of options to cancel the wager in exchange for a refund amount for purchase, the plurality of options including at least a first option and a second option. A first option may have a first exercise time and a first price associated with the first option, and a second option may have a second exercise time and a second price associated with the second option. The selection of the first option may allow the user to cancel the bet in exchange for the refund amount at least before the first exercise time, and the selection of the second option may allow the user to cancel the bet at least before the second exercise time in exchange for the refund amount . The refund amount associated with each of the first option and the second option may be the same amount. An indication may be received that the user is purchasing at least one of the first option and the second option. Can receive an indication that the user is exercising the purchased option. A determination may then be made as to when to receive the indication compared to the exercise time associated with the purchased option. If the indication is received at least before the exercise time associated with the purchased option, the wager may be cancelled in exchange for a refund amount. In the alternative, if an indication is received after the exercise time associated with the purchased option, eg, the option may expire, the user's wager may remain as is/uncancelled, and the user may be based on the wagered Win or lose bets on the outcome of the event. As another alternative, the exercise time associated with the purchased option may elapse without the user exercising the option/not receiving an indication that the user is exercising the purchased option. Again, the option may expire, the user's wager may remain as-is/uncancelled, and the user may win or lose bets based on the outcome of the event wagered.

According to another example and/or additional examples, a match against the event may be received from the user A request to place a bet. The user may be presented with the option to cancel the wager for purchase at a price. The option may include a plurality of use times, and the plurality of use times include at least a first use time and a second use time. The first usage time may have a first refund amount associated with the first usage time and the second usage time may have a second refund amount associated with the second usage time. The second use time may follow the first use time. The option may allow the user to cancel the bet in exchange for the first refund amount before and/or at the first exercise time, and/or at the first exercise time and/or after the first exercise time and Cancel the wager before and/or at the second exercise time in exchange for the second refund amount. Receive an indication that the user is purchasing an option. Receive an indication that the user is exercising the option. A determination may then be made as to when the indication is received compared to the exercise time associated with the option. If the indication is received before and/or at the first exercise time associated with the option, the wager may be cancelled in exchange for the first refund amount. If an instruction is received at and/or after the first exercise time and before and/or at the second exercise time associated with the option, the bet may be cancelled in exchange for the second exercise time Refund amount. In the alternative, if the instruction is received at and/or after the second exercise time associated with the option, the option may expire and the user's wager may remain as is/uncancelled, And the user can win or lose the bet based on the outcome of the betting event. As another alternative, all exercise time associated with the option may elapse without the user exercising the option/not receiving an indication that the user is exercising the option. Again, the option may expire, the user's wager may remain as-is/uncancelled, and the user may win or lose bets based on the outcome of the event wagered.

According to another example and/or additional examples, a request to place a wager on an event may be received from a user. The user may be presented with the option to cancel the wager for purchase at a price. Receive an indication that the user is purchasing an option. Receive an indication that the user is exercising the option. In response to the user exercising the option, the bet may be cancelled in exchange for a refund amount. The user may be required to place another wager using at least a portion of the refund amount.

100‧‧‧Network Environment

102a-102n‧‧‧Server Computing System

104a-104n‧‧‧Computer-readable storage media

106a-106n‧‧‧Client Computing System

108‧‧‧Communication Network

110‧‧‧Computer-readable storage media

111‧‧‧Telecommunication installations

112‧‧‧Personal Digital Assistant (PDA) Devices

114a-114d‧‧‧HTML original file or web page

200‧‧‧Electronic Sports Betting Registry Betting Environment

202‧‧‧Electronic Sports Betting Registry Betting Computer System

208‧‧‧Local Area Network

210‧‧‧WAN

212a‧‧‧Processing unit

212b‧‧‧Digital Signal Processor

214‧‧‧System memory

216‧‧‧System bus

218‧‧‧Read Only Memory (“ROM”)

220‧‧‧Random Access Memory ("RAM")

222‧‧‧Basic Input/Output System (“BIOS”)

224‧‧‧hard disk drives

226‧‧‧hard disk

228‧‧‧Disc drives

230‧‧‧disk drives

232‧‧‧Disc

234‧‧‧Disk

236‧‧‧Operating System

238‧‧‧Apps

240‧‧‧Refund amount determination module

242‧‧‧Program data

244‧‧‧History Analysis Module

246‧‧‧Keyboard

248‧‧‧Mouse

250‧‧‧Interface

252‧‧‧Displays/Monitors

253‧‧‧Modem

254‧‧‧Video interface

260‧‧‧Internet Interface

262‧‧‧Money Payment Computer System

264‧‧‧Player A Computer System

266‧‧‧Player B Computer System

268‧‧‧Processing Units

269‧‧‧System memory

270‧‧‧Read Only Memory ("ROM")

271‧‧‧Basic Input/Output System (“BIOS”)

272‧‧‧Random Access Memory (“RAM”)

273‧‧‧Media Drivers

274‧‧‧Computer-readable storage media

275‧‧‧User Interface

276‧‧‧Keyboard

277‧‧‧Pointing Devices

278‧‧‧Displays/Monitors

280‧‧‧Processing Subsystem

282‧‧‧User Interface Subsystem

284‧‧‧Web browser

286‧‧‧Processing Subsystem

288‧‧‧Media Subsystem

290‧‧‧User Interface Subsystem

300‧‧‧User Interface

302‧‧‧User Interface Items

308‧‧‧User Interface Items

312‧‧‧Icons or buttons

314‧‧‧Icons or buttons

316‧‧‧Print and Retrieval Components

318‧‧‧User Interface Items

320‧‧‧Icons or buttons

322‧‧‧Icons or buttons

324‧‧‧Components

400‧‧‧User Interface

Method

In the drawings, the same reference numerals identify similar elements or acts. The sizes and relative positions of elements in the drawings are not necessarily drawn to scale. For example, the shapes and angles of various elements are not drawn to scale, and some of these elements are arbitrarily enlarged and positioned to improve drawing legibility. Furthermore, the particular shapes of the elements as drawn are not intended to convey any information about the actual shape of the particular elements, and have only been selected for ease of identification in the drawings.

1 is a schematic diagram of a networked environment including servers and clients communicatively coupled via one or more networks, according to an illustrative embodiment To these servers, the systems, devices and methods for electronic sports wagering registry betting may be part of the environment or the systems, devices and methods may be implemented in the environment.

2 is a schematic diagram of an electronic sports betting registry wagering environment with an exemplary bettor computing system, an exemplary sports betting registry wagering computer system, and an exemplary payment payment, according to an illustrated embodiment computer system.

3 is an illustration of an exemplary bettor user interface for purchasing sports wagering registry wagering ticket put-back options, according to one illustrated embodiment.

4 is an illustration of an exemplary bettor user interface for utilizing a sports wager registry wagering ticket put-back option, according to one illustrated embodiment.

5 is a flowchart showing a method for electronically processing a request to purchase a sports wagering registry wagering ticket put-back option, according to one illustrated embodiment.

FIG. 6 is a flowchart showing a method for electronically determining an amount refunded to a bettor who is using a sports wager registration previously purchased by the bettor useful in the method of FIG. 5, according to an illustrative embodiment. Option to place bet notes put back.

7 is a flowchart showing a method for electronically issuing a ticket indicating a wager associated with a sports wager registry wagering ticket put-back option, according to one illustrated embodiment.

8 is a flowchart showing a method for electronically initiating payment to a bettor who is exercising a sports wager registry wagering ticket putback option previously purchased by the bettor, according to one illustrated embodiment.

9 is a flowchart showing an example for providing, purchasing, and exercising options.

10 is another flowchart showing an example for providing, purchasing, and exercising options.

Figure 11 is another example showing an example for offering, buying and exercising options flow chart.

12 is yet another flow diagram showing an example for providing, purchasing, and exercising options.

13 is a flowchart showing an exemplary example of the present invention.

14 is a flowchart showing an exemplary example of the present invention.

In the following description, certain specific details are set forth in order to provide a thorough understanding of the various disclosed embodiments. One skilled in the relevant art will recognize, however, that the embodiments may be practiced without one or more of these specific details, or with other methods, components, materials, and the like. In other instances, well-known structures associated with computing systems, including client computing systems and server computing systems, and networks have not been shown or described in detail to avoid unnecessarily obscuring the description of the embodiments.

Unless the context otherwise requires, throughout the following specification and claims, the word "comprise" and variations thereof (such as "comprises" and "comprising") are to be understood in an open-ended, inclusive sense , that is, understood as "including but not limited to".

Reference throughout this specification to "one embodiment" or "an embodiment" means that a particular feature, structure, or characteristic described in connection with the embodiment is included in at least one embodiment. Thus, appearances of the phrases "in one embodiment" or "in an embodiment" in various places throughout this specification are not necessarily all referring to the same embodiment. Furthermore, the particular features, structures or characteristics may be combined in any suitable manner in one or more embodiments.

As used in this specification and the appended claims, the singular forms "a" and "the" include plural referents unless the content clearly dictates otherwise. It should also be noted that the term "or" is generally employed in its sense including "and/or" unless the content clearly dictates otherwise.

The titles and abstracts of the disclosure provided herein are for convenience only and do not interpret the scope or meaning of the embodiments.

1 shows a schematic diagram of a networked environment 100 according to an illustrated embodiment, the networked environment including several servers and several clients communicatively coupled by one or more networks Connected to such servers, systems, devices and methods for electronic sports wagering registry wagering may be part of the environment, or such systems, devices and methods may be implemented on in this environment.

Network environment 100 includes several server computing systems 102a-102n (collectively 102). Server computing system 102 includes processors that execute server instructions (ie, server software) stored on computer-readable storage media to provide server functions in network environment 100 . For example, the server computing system 102 may electronically generate, place, execute and/or track sports wagering registry wagers and sports wagering registry ticket putback options and related transactions; Refund amount; and/or receive input of instructions regarding Sports Betting Registry wagers and Sports Betting Registry ticket put-back options and related transactions, such instructions being stored in one or more databases or other computer-accessible Read storage media 104a-104n (collectively 104). The term sports bet registry as used herein means any service related to placing or tracking bets placed on or otherwise related to the outcome of a sporting event such as football, basketball, Baseball, football or any other sporting event, game or competition, horse race, political event, competition, fight, public figure event, celebrity event, etc., including any public event where the Sports Bet Registry provides an opportunity to wager.

The network environment 100 includes a number of client computing systems 106a-106n (collectively 106) that are selectively communicatively coupled to one of the server computing systems 102 via one or more communication networks 108. or more. Client computing system 106 includes one or more processors that execute communication instructions stored on any of various non-transitory computer-readable storage media 110 (only one is illustrated in FIG. 1 ). One or more sets. Client computing system 106 may take various forms, such as a desktop personal computer, laptop or notebook personal computer, tablet computer, workstation, minicomputer, mainframe computer, or a microprocessor capable of networked communication. computer or other computing device of a microcontroller. Client computing system 106 may be communicatively coupled to the remainder of network 108 via wired communication channels, wireless communication channels, or a combination of wired and wireless communication channels.

The network environment 100 includes several telecommunication devices 111 (only one is illustrated). Such a telecommunication device 111 may, for example, take the form of an Internet or Web enabled mobile phone (eg, iPHONE.RTM.). The network environment 100 also includes several personal digital assistant (PDA) devices 112 (only one is illustrated). Such a PDA device 112 may, for example, take the form of an Internet or Web enabled PDA or tablet (eg, iPHONE.RTM., iPAD.RTM., TREO.RTM., BLACKBERRY.RTM.), such PDAs or tablets may, for example, execute sets or programs of browser commands. Network environment 100 may include any number of a variety of other devices capable of some type of networked communication. Telecommunications device 110, PDA device 112, and any other device may be communicatively coupled to the remainder of network 108 via wired communication channels, wireless communication channels, or a combination of wired and wireless communication channels.

The one or more communication networks 108 may take various forms. For example, the communication network 108 may include wired communication links, wireless communication links, optical communication links, or a combination of wired communication links, wireless communication links, and/or optical communication links. The one or more communication networks 108 may include public networks, private networks, unsecured networks, secured networks, or a combination of the foregoing. The one or more communication networks 108 may use any one or more communication protocols, such as the TCP/IP protocol, the UDP protocol, the IEEE 802.11 protocol, and other telecommunications or computer networking protocols. The one or more communication networks 108 may include what is traditionally referred to as a computing network and/or what is traditionally referred to as a telecommunications network, or a combination of the two. In at least one embodiment, the one or more communication networks 108 include the Internet, and in particular the World Wide Web (referred to herein as the "Web"). Thus, in at least one embodiment, one or more of server computing systems 102 execute server software to serve HTML raw files or web pages 114a-114d (collectively 114), and one or more of client computing systems 106, Telecommunications device 110 and/or PDA 112 execute browser software to request and display HTML raw files or web pages 114 .

The networked environment 100 includes an interactive system for electronically generating, placing, executing and/or tracking sports wagering registry wagers and sports wagering registry ticket put-back options and related transactions; determining the use of sports wagering the refund amount for the Registry Bill Putback Option; and/or receive input indicating the Sports Betting Registry wager and the Sports Betting Registry Bill Putback Option and related transactions. The interactive system may include one or more server computing systems 102 , databases 104 and one or more client systems 106 , telecommunication devices 111 and/or PDAs 112 .

One or more server computing systems 102 execute instructions stored on a non-transitory computer-readable storage medium that cause the server computing systems 102 to electronically generate, place, execute, and/or track sports wager registry bets and sports wagering registry ticket put-back options; and with respect to one or more client systems 106, telecommunications device 111 and/or PDA 112 and/or in Determining and issuing refund amounts among the foregoing; and providing communications to one or more client systems 106, telecommunications devices 111, and/or PDAs 112 during or in conjunction with such services and between the foregoing Provide communications.

Although not required, the embodiments will be described in the general context of computer-executable instructions, such as programs stored on a computer-readable storage medium or processor-readable storage medium and executed by a computer or processor Application engine, object or macro. Those skilled in the relevant art will appreciate that the illustrated and other embodiments may be practiced with other accessory system configurations and/or other computing system configurations, including hand-held devices, multi-processor systems, microprocessor-based or may be designed for consumer electronics, personal computers ("PCs"), network PCs, minicomputers, mainframe computers and the like. Embodiments may be practiced in distributed computing environments where tasks or actions are performed by remote processing devices that are linked through a communications network. In a distributed computing environment, the programming engine may reside in both local memory storage and remote memory storage.

2 shows an electronic sports betting registry wagering environment 200 that includes a sports betting registry betting computer system 202, a payment payment computer system 262, an exemplary bettor A computer system 264, and an exemplary bettor B Computer system 266, each of which is communicatively coupled by one or more communication channels, such as one or more local area network (LAN) 208 or wide area network (WAN) 210, the communication channel(s), the one One or more local area networks or wide area networks may be part of or connected to network 108 . For example, the server computing system 102 of FIG. 1 may include the sports wagering registry wagering computer system 202 and/or the payment computer system 262 . Likewise, the plurality of client computing systems 106a-106n (collectively 106), telecommunications device 111 and/or PDA device 112 of FIG. 1 may include exemplary player A computer system 264 and exemplary player B computer system 266. Communication between the computer systems shown in Figure 2 may also be by transferring data on non-transitory computer-readable media such as discs, flash drives, other memory devices, etc., readable by such computer systems to proceed.

Payment computer system 262 may include one or more of a casino or other licensed sports wagering establishment or their computer systems of various sports wagering registry entities. The example bettor A computer system 264 and the example bettor B computer system 266 may include a web browser or other sports wagering registry betting or wagering application with a display website, web page and/or web application Any user computer system of the Program, such other sports wagering registry betting or wagering applications such as those offered by the sports wagering registry of a casino or other licensed sports wagering organization. Such websites, webpages and/or web applications may include those websites, webpages and/or web applications hosted and/or served by the sports wagering registry wagering computer system 262, or hosted by a web server computer system and/or those websites, web pages and/or web applications that are hosted by the sports betting registry betting computer system 262, exemplary bettor A computer system 264 and exemplary bettor B computer system 266 access. For example, the web server computing system may be one or more of the server computing systems 102 of FIG. 1 .

The sportsbook wagering computer system 202 may include those computer systems that generate, place, execute and/or track electronically sportsbook wagers and sportsbook ticket put-back options and related transactions; Determining the refund amount for the use of the Sports Betting Registry Note Put Option; and/or receiving input of instructions regarding the Sports Betting Registry wager and the Sports Betting Registry Note Putting Option and related transactions, such instructions Stored in one or more databases or other computer-readable storage media. Sports Bet Registry wagers may include wagers on any public event where the Sports Bet Registry provides wagering opportunities, such public events including, but not limited to: sporting events, horse races, political events, competitions, fights, public figure events, celebrity events Wait. "Event" or "sporting event" as used herein means any public event for which the Sports Betting Registry provides wagering opportunities. Sportsbook betting computer system 202 may also provide a user interface for accepting wagers from example bettor A via example bettor A computer system 264 and selling sportsbook registry ticket put-back options to example bettors A, and accepts bets from Exemplary Bettor B via Exemplary Bettor B computer system 266 and sells a Sports Bet Registry ticket put-back option to Exemplary Bettor B. For example, the user interface may be displayed as a web page served by the sports betting registry wagering computer system 202, displayed within or on such web page, or as an interface to other applications, including those hosted by another web page A server computer system or other computer system hosted and/or served by a sports wagering registry operating, organizations, companies and individuals of their various web pages and websites, such another web server computer system or other computer system may be One or more local area network (LAN) 208 or wide area network (WAN) 210 accesses that are part of the network 108 .

Sports wager registry wagering computer system 202 will sometimes be referred to herein in the singular form, but this is not intended to limit the embodiments to a single device, as in a typical embodiment there may be more than one sports wagering registry betting computer system or device involved, or there may be each storing and/or serving different items a number of different computing systems (eg, web servers, etc., separate from sports wagering registry wagering servers or payment servers, etc.). Unless otherwise described, the construction and operation of the various blocks shown in FIG. 2 are of conventional design. Accordingly, such blocks need not be described in further detail herein as such blocks will be understood by those skilled in the relevant art.

Sports wager registry betting computer system 202 may include one or more processing units 212a, 212b (collectively 212), system memory 214, and a system bus 216 that couples various system components including system memory 214 connected to the processing unit 212 . Processing unit 212 may be any logical processing unit, such as one or more central processing units (CPUs) 212a, digital signal processors (DSPs) 212b, application specific integrated circuits (ASICs), field programmable gate arrays (FPGAs), etc. . The system bus 216 may employ any known bus structure or architecture, including a memory bus with a memory controller, a peripheral bus, and a local bus. System memory 214 includes read only memory (“ROM”) 218 and random access memory (“RAM”) 220 . A basic input/output system ("BIOS") 222, which may form part of ROM 218, contains basic routines that facilitate the transfer of information between elements within sports wagering registry wagering computer system 202, such as during startup.

Sports wager registry betting computer system 202 may include hard disk drive 224 for reading from and writing to hard disk 226, Optical disk drive 228, and/or disk drive 230 for reading from and writing to disk 234. The optical disc 232 may be a digital video disc ("DVD"), and the magnetic disc 234 may be a magnetic floppy disk or diskette or other storage medium. Hard disk drive 224 , optical disk drive 228 , and disk drive 230 may communicate with processing unit 212 via system bus 216 . Hard disk drive 224, optical disk drive 228, and disk drive 230 may include an interface or controller (not shown) coupled between such drives and system bus 216, as known to those skilled in the relevant art of. Drivers 224, 228, and 230 and their associated computer-readable storage media 226, 232, 234 may provide computer-readable instructions, data structures, programming engines, and others for sports wagering registry wagering computer system 202 Non-electrical and non-transitory storage of data. Although a hard disk drive 224, an optical disk drive 228, and a disk drive 230 are used to illustrate the sports wagering registry wagering computer system 202 depicted, those skilled in the relevant art will appreciate that data that can store computer-accessible data may be used. Other types of computer-readable storage media, such as magnetic tape cards, flash memory, compact discs (“CDs”), Bernoulli cartridges, RAM, ROM, smart cards, solid state drives, etc.

The sports wager registry betting computer system 202 may include a network interface 260 operably coupled to the system bus 216 . The network interface 260 may, for example, include one or more modems 253 and/or one or more Ethernet cards or other types of communication cards or components 254 for allowing access via one or more local area networks (LANs). ) 208 or wide area network (WAN) 210 communications.

A program engine may be stored in system memory 214, such as an operating system 236, one or more application programs 238, a refund amount determination module 240, program data 242, and a historical analysis module 244 capable of analyzing historical data for previous sporting events . The application 238 may include instructions that may cause the processor 212 to accept bets from the bettor A computer system 264, the bettor B computer system 266, and/or other bettor computer systems and to sell sports ticket put-back options to the bet player A computer system, such bettor B computer system and/or such other bettor computer system. Application 238 and refund amount determination module 240 may include computer-executable instructions and functionality to provide an interface for performing one or more of the following operations: placing sports wager registry bets, utilizing previously selected or purchased sports Bet registry sell-back option and determination of refund amount when a bettor applies a previously selected or purchased sports betting registry sell-back option based on analysis of historical data of previous sports events by the historical analysis module . Application 238 and refund amount determination module 240 may deliver such services over LAN 208 or WAN 210 using one or more network protocols, or a combination of one or more network protocols, including But not limited to Hyper File Transfer Protocol (HTTP), TCP/IP protocol, UDP protocol and IEEE 802.11 protocol, and other telecommunication or computer networking protocols.

Applications 238 may also include instructions for handling security such as passwords or other access protection and encryption of communications, and also allow access to and exchange of data with sources, such as corporate intranets, external networks, or Other networks, as described below, and other server applications on server computing systems, such as those discussed further below. In particular, system memory 214 may include historical analysis modules or programs, such as historical analysis module 244, that are configured to analyze and perform previous sports with characteristics common to the current sports event. Statistical analysis of events for which bets have been placed on such current sporting events and which have been purchased for those current sporting events Sports Betting Registry Sell-Back Options right. For example, such analyses may be based on historical data regarding the results of previous sporting events of the same type as the current sporting event at the time of the corresponding game break or corresponding interval in the previous sporting event, and the corresponding games in the previous sporting event Interruption or other corresponding factor when corresponding to the interval.

Although shown in FIG. 2 as being stored in system memory 214 , operating system 236 , application program 238 , refund amount determination module 240 , program data 242 and historical analysis module 244 may be stored on the hard disk drive 224 On disc 226 , disc 232 of disc drive 228 and/or disc 234 of disc drive 230 .

The operator may enter commands and information into the sports betting registry betting computer system 202 by input devices such as a touch screen or keyboard 246 and/or a pointing device such as a mouse 248 and/or via a graphical user interface. Other input devices may include microphones, joysticks, game pads, tablets, scanners, and the like. These and other input devices are connected to one or more of the processing units 212 via an interface 250, such as a serial port interface, coupled to the system bus 216, but may use a parallel port, game port, or wireless interface or universal serial Other interfaces to the bus ("USB"). A monitor 252 or other display device is coupled to the system bus 216 via a video interface 254, such as a video adapter. The sportsbook betting computer system 202 may include other output devices such as speakers, printers, and the like.

The sports betting registry wagering computer system 202 may operate in a networked environment using logical connections to one or more remote computers and/or devices as described above with reference to FIG. 1 . For example, sports wager registry wagering computer system 202 may use logical connections to one or more payout computer systems 262 and to one or more bettor computer systems (eg, bettor A computer system 264 and/or bettor B computer) system 266) to operate in a networked environment. Communication can occur via wired and/or wireless network architectures, such as wired and wireless enterprise-wide computer networks, intranets, extranets, and the Internet. Other embodiments may include other types of communication networks, including telecommunications networks, cellular networks, paging networks, and other mobile networks.

The payment computer system 262 may be separate or integrated with the sports wager registry betting computer system 202, and may take the form of a conventional mainframe computer, minicomputer, workstation computer, personal computer (desktop or laptop). The payment computer system 262 may include a processing unit 268, a system memory 269, and a system bus (not shown) that will include the system Various system components of memory 269 are coupled to processing unit 268 . Payment computer system 262 will sometimes be referred to herein in the singular, but this does not intend to limit embodiments to a single payment computer system 262, as in typical embodiments there may be more than one payment computer system involved 262 or device. Non-limiting examples of commercially available computer systems include, but are not limited to, the 80.times.86 or Pentium series microprocessors from Intel Corporation of America, PowerPC microprocessors from IBM, Sparc microprocessors from Sun Microsystems Corporation , PA-RISC series microprocessors from Hewlett-Packard Company or 68xxx series microprocessors from Motorola Company.

Processing unit 268 may be any logical processing unit, such as one or more central processing units (CPUs), digital signal processors (DSPs), application specific integrated circuits (ASICs), field programmable gate arrays (FPGAs), and the like. Unless otherwise described, the construction and operation of the various blocks of payment computer system 262 shown in FIG. 2 are of conventional design. Accordingly, such blocks need not be described in further detail herein as such blocks will be understood by those skilled in the relevant art.

The system bus can employ any known bus structure or architecture, including memory bus with memory controller, peripheral bus, and local bus. System memory 269 includes read only memory (“ROM”) 270 and random access memory (“RAM”) 272 . A basic input/output system ("BIOS") 271, which may form part of ROM 270, contains basic routines that help transfer information between elements within peripheral computing system 114, such as during startup.

Payment computer system 262 may also include one or more media drives for reading from and writing to computer-readable storage media 274 (eg, hard drives, disks, and/or optical discs) 273 (eg, hard drives, disk drives, and/or optical drives). Computer-readable storage medium 274 may take the form of removable media, for example. For example, a hard disk can take the form of a Winchester drive, an optical disk can take the form of a DVD, and a magnetic disk can take the form of a magnetic floppy disk or floppy disk. The media driver 273 communicates with the processing unit 268 via one or more system buses. The media drivers 273 may include an interface or controller (not shown) coupled between such drivers and the system bus, as known to those skilled in the relevant art. Media drivers 273 and their associated computer-readable storage media 274 provide non-electrical and non-transitory computer-readable instructions, data structures, programming engines and other data for payment computer system 262 store. Although described as employing computer-readable storage media such as hard disks, optical disks, and magnetic disks 274, but those skilled in the relevant art will appreciate that the payment computer system 262 may employ other types of computer-readable storage media capable of storing computer-accessible personal data, such as magnetic tape cards, flash memory cards, compact discs ("CDs") , Bernoulli boxes, RAM, ROM, smart cards, solid state drives, etc.

Program engines such as the operating system, one or more applications, other programs or engines, and program data may be stored in system memory 269 . The programming engine may include instructions for handling security such as password or other access protection and encryption of communications. The system memory 269 may also include communication and server programs, such as a web server, that allows the payment computer system 262 to pay the bettor and/or start Payments to bettors where such refunds arise from the bettor's use of the Sports Betting Registry ticket put-back option (eg, during a designated game break or other indicated time period during an event). Other indicated periods may be any period from the time the wager is placed until the end of the entire sporting event or until the end of any part of the sporting event. Payments may be made directly, or electronically, to an account associated with the bettor via a cash machine or voucher printer (not shown) connected to or integrated with the payment computer system 262 . Electronic payments may be sent via network 108 via the Internet and/or via web applications and/or other networks such as automated clearing house (ACH) systems, lending systems, or the like, or electronic payment and deposit systems.

Although described as being stored in system memory 269 , operating systems, applications, other programs/engines, program data, and/or browsers may be stored on computer-readable storage medium 274 of media driver 273 . The operator may enter commands and information into the payment computer system 262 via the user interface 275 through an input device such as a touch screen or keyboard 276 and/or a pointing device 277 such as a mouse. Other input devices may include microphones, joysticks, game pads, tablet computers, scanners (eg, sports wagering registry ticket scanners), and the like. These and other input devices are connected to the processing unit 269 through an interface such as a serial port interface coupled to the system bus, but may use a parallel port, game port or wireless interface or a universal serial bus ("USB") other interfaces. A display or monitor 278 may be coupled to the system bus via a video interface such as a video adapter. Payment computer system 262 may include other output devices, such as speakers, printers, and the like.

The payment computer system 262 includes instructions stored in a non-transitory computer-readable storage medium that cause the processor of the payment computer system 262 to pay the payment by The LAN 208 or WAN 210 places bets from various bettor computer systems via the sports bet registry betting computer system 202 for winning bettors placed on sports events, such bettor bets including, for example, from bettor A computer system 264 and betting Those of person B computer system 266 place a bet. For example, the sports wager registry wagering computer system 202 may pay or initiate payment of a ticket (paper or electronic ticket) indicating a wager placed on a wager placed by bettor A on a sporting event.

The payout computer system 262 also includes instructions stored in a non-transitory computer-readable storage medium that cause the processor of the payout computer system 262 to interrupt the bettor at the designated game of the sporting event for which the original wager was placed or When using a previously purchased sportsbook ticket put-back option during other indicated time periods, the bettor is refunded the amount determined and communicated by the refund amount determination module 240 of the sportsbook wagering computer system 202 . Other indicated periods may be any period from the time the wager is placed until the end of the entire sporting event or until the end of any part of the sporting event.

For example, bettor A may have purchased an option to sell back a sportsbook ticket paid by sportsbook wagering computer system 202 during halftime of a sports event where the wager is being placed in order to obtain the option to exercise the option. The amount of the refund determined at the time. In some embodiments, this refund amount may not be reduced below a guaranteed predetermined minimum amount. To exercise a purchased option, at a certain time during a sporting event (eg, halftime, between periods, between innings, or between quarters), bettor A sells back by doing the following: Sports wager registry ticket issued by sports wager registry wagering computer system 202: bring the ticket to, send to, start sending to, or otherwise communicate (if the ticket is an electronic ticket) payment computer system 262 for The ticket is scanned or read electronically, the refund amount is determined (by the sports wager registry wagering computer system 202 or the money distribution computer system) and the determined refund amount is received. In some embodiments, the payout computer system can wirelessly authenticate the bettor A computer system 264 (eg, via near field communication (NFC) or radio frequency identification ( RFID) chip) to allow payment to bettor A. Note that although the refund amount determination module 240 and the historical analysis module 244 are shown as part of the sports wager registry wagering computer system 202, one or both of these modules may also be or may actually be payment computers part of system 262.

The refund amount determination module 240 is part of the payment computer system 262 In the case where the payment computer system 262 includes instructions stored in a non-transitory computer readable storage medium, the instructions cause the processor of the payment payment computer system 262 to receive additional information and analysis from the sports wagering registry betting computer system 202 To determine the refund amount, the additional information and analysis are historical statistics on the results of previous sporting events of the same type as the current sporting event in which the wager was placed, and corresponding to the same game break or corresponding interval in the previous sporting event, and Other corresponding factors when the same game is interrupted or corresponding interval in the previous sporting event.

Player A computer system 264 may have one or more of the same or similar components as previously described computer systems, such as processing subsystem 280, which includes one or more non-transitory processors and computer readable memory ; a media subsystem, which includes one or more drivers and computer-readable storage media; and one or more user interface subsystems 282, which includes one or more keyboards, keypads, displays, pointing devices, graphical interfaces , scanner and/or printer.

The bettor A computer system 264 includes program instructions stored in a non-transitory computer-readable storage medium, such as those of a web browser 284, configured to access the sports wager registry betting computer system 202 and payments for computer system services (e.g., for remotely placing bets on sporting events, purchasing sports wagering registry ticket put-back options, remotely applying previously purchased sports wagering registry ticket put-back options, Receive refunds and payments, etc.). The browser 284 in the depicted embodiment is based on, and operates using, a markup language, such as Hyper Document Markup Language (HTML), Extensible Markup Language (XML), or Wireless Markup Language (WML), which The structure of the document is expressed using the syntax delimited characters of the data added to the document. Several web clients or browsers are commercially available, such as those from Mozilla, Google and Microsoft.

Player B computer system 266 may have one or more of the same or similar components as previously described computer systems, such as processing subsystem 286, which includes one or more non-transitory processors and computer readable memory ; media subsystem 288, which includes one or more drivers and computer-readable storage media; and one or more user interface subsystems 290, which includes one or more keyboards, keypads, displays, pointing devices, graphics interface, scanner and/or printer.

For example, bettor B computer system 266 includes program instructions stored in a non-transitory computer-readable storage medium, such as those of web browser 290, that are configured to access sports wager registry betting The services of computer system 202 are the same as those described above. The programming instructions for the web browser 284 of the player A computer system 264 described are similar. Although only two exemplary bettor computer systems are depicted in FIG. 2, there may be fewer or more such bettor computer systems operably connected to LAN 208 and/or WAN 210 in various other embodiments.

FIG. 3 is an illustration of an exemplary user interface 300 for Bettor A to purchase a sports wager registry wagering ticket put-back option, one or more portions of which may be displayed in a sports wager, according to one illustrated embodiment. The bet registry betting computer system 202 or the monitor of the bettor A computer system 264. Bettor A may purchase a sports wagering registry ticket put-back option via interface 300, for example, during the process of placing a wager on a corresponding sporting event. Additionally, a bettor may purchase via interface 300 after placing a wager on a corresponding sporting event sometime before the designated game break or the end of the indicated period in which the option is available and after the sports wagering registry ticket indicating the initial wager has been received Sports Betting Registry Betting Note Putback Option. There may be circumstances that prohibit or discontinue the purchase of a put-back option after which a Sports Bet Registry ticket has been issued, including, but not limited to, changes in points, injury to key players, removal of key players from roster Exclusions, catastrophic events for specific teams, etc. A purchased option may be an option that will be exercised by the bettor during a designated game interruption or indicated period of the corresponding sporting event (eg, during half-time) for the bettor to receive compensation for cancellation of bets (i.e. , the determined refund amount).

However, in some embodiments, all or some of the features and components of user interface 300 described herein may be configured for use in place of, or in addition to, bettor A for sports wagering registry employees or agents Human use, such as to place a bet and make a put-back option purchase on behalf of bettor A. In other embodiments, neither the sports wager registry nor Bettor A need to use the Bettor A interface to place bets and have the putback option purchased by Bettor A. For example, bettor A enters a sports wager registry and walks to the existing counter where the sports wager registry agent is seated. Bettor A then asks for an event (eg, football, basketball, soccer, baseball, boxing, individual events, horse racing, political events, competitions, fights, public figure events, celebrity events, etc.) Place a bet on any of the bet types of any of them. Types of bets or wagers may include, but are not limited to: straight, total score (ie, win/loss), money line, teaser, future bet, win only ( single action), whether to win-tie-cancellation of the game (double action), reverse bet, buy points, proposition bet, etc. cast Bettor A then requests the agent to include a putback option in that bettor A's wager, or the agent makes an offer to the bettor and the bettor accepts the offer from the agent to participate in the putback option. One or more of the above actions can be performed independently or in conjunction with the Player A interface. In one embodiment where bettor A refuses to purchase or elects a sports wager registry ticket putback option (or is never offered a putback option), and after a sports wager registry ticket indicating the initial wager has been issued, The Sports Betting Registry may make an unsolicited offer to Bettor A for an opportunity for Bettor A to purchase a Sports Betting Registry ticket put-back option at some point before the end of the game interruption or indicated period in which the option is available. Offers to Bettor A may be displayed on public displays in the Sports Bet Registry establishment, displayed on monitors of Bettor A's computer system, printed and provided to Bettor A for publication on the Sports Bet Registry website , and/or communicate electronically via email, text message, fax, etc.

The additional cost of participating in the putback option, if any, is determined by the Sports Bet Registry and may range from 0% to any percentage of the ticket price or amount wagered and/or any fixed dollar selected by the Sports Bet Registry amount. At the discretion of the sports wagering registry, the additional cost of participating in a putback option at the time of placing a wager may be higher or lower than the additional cost of participating in a putback option at a later time purchase.

The refund amount may be determined when the Sports Bet Registry ticket put-back option is used, based on the current odds or odds of whether the bettor will win the wager placed at the specified break or indicated period of the event (also That is, the value of the Sports Bet Registry note put-back option to bettor A). The option may also include a minimum guaranteed amount (eg, 20% of the wagered amount, or other predetermined minimum amount) that will be refunded to the bettor if the bettor chooses to exercise the option. However, in some embodiments, there may be no guaranteed percentage refund or other guaranteed refund amount. Current bettors may be shown to bettors at the time of purchase of a Sports Betting Registry ticket put-back option, or at any time from the moment a sporting event begins up to and including the time period when the bettor can exercise the option. The calculated refund amount (ie, the current value of the Sports Bet Registry Bill Putback Option). For example, this value may be displayed on a public display at the sports wagering registry establishment, displayed on the display 302 of the bettor A interface, printed and provided to bettors, posted on the sports wagering registry website, and/or Communicate electronically via email, text message, fax, etc.

In one exemplary embodiment, user interface item 308 of user interface 300 is configured to display an indication of the type of bet placed (eg, ABC), showing what sporting event (eg, XYZ game) the bet is placed on instruction and bet amount (eg $110). Before issuing the ticket, the user interface item 302 is configured to display a prompt asking Bettor A whether Bettor A would like to purchase a Sports Betting Registry ticket put-back option to interrupt the bettor at a specified game The minimum guaranteed percentage return of the staked amount if the option is exercised during the period. In some embodiments, there may be no minimum guaranteed percentage refund or other guaranteed refund amount. User interface item 302 also indicates a prepaid, non-refundable cost or fee charged to the bettor for the purchase option. For example, this fee may be a percentage of the wager (eg, 2.5% of the wager). However, other percentage amounts, flat fees, or combinations thereof may optionally be charged by the sports wager registry wagering computer system and will be indicated to the bettor via user interface item 302. In some embodiments, the sports wagering registry may elect to charge no fee or charge a refundable fee for the purchase of the sports wagering registry ticket put-back option, and this will be indicated to the bettor via the user interface item 302 .

User interface item 302 also includes controls that may be selected by the bettor to indicate whether the bettor would like to purchase a sports wager registry ticket put-back option. For example, the user selects the icon or button 312 to indicate that the bettor wants to buy the option, and selects the icon or button 314 to indicate that the bettor does not want to buy the option. In embodiments where user interface items 302 are displayed on sports wagering registry wagering computer system 202, interface 300 may also include a ticket print and retrieval component 316 that is configured to print sports wagers A registry ticket that indicates the wager and whether a sports wager registry ticket put-back option has been purchased. These instructions may be printed or otherwise encoded (eg, on a barcode) on sports wager registry tickets dispensed by ticket print and retrieval component 316 .

In other embodiments (eg, those in which the user interface item 302 is displayed on the player A computer system 264 remote from the sports wagering registry wagering computer system 202), the sports wagering registry ticket may be issued electronically is an electronic ticket stored on the sports wager registry wagering computer system 202 and/or the bettor A computer system 264. An electronic sportsbook registration ticket is associated with a bettor via a code communicated to the bettor through the sportsbook betting computer system, the bettor's account or other bettor credentials when using electronic sportsbook registration Such other bettor credentials may be verified when placing a wager against a winning wager or for redeeming a money amount with a put-back option using a purchased sports wager registry ticket.

Bettor A refuses to buy via interface 300 after placing a bet on the corresponding sporting event sometime before the designated game break or the end of the indicated period in which the option is available and after the sports wagering registry ticket indicating the initial wager has been issued In an embodiment of a sports wager registry ticket put-back option, bettor A may scan a sports wager registry ticket at a scanner (eg, via a machine-readable symbol such as a barcode or QR code symbol, radio frequency identification or RFID query). transponder, Near Field Communication (NFC) chip, or Optical Character Recognition or OCR), part of the scanner series ticket printing and retrieval component 316 or located elsewhere (such as on Player A computer system 264), to obtain a put-back option associated with a wager linked to a sports wager registry ticket. In embodiments involving electronic tickets, bettor A may enter a code provided to bettor A when the ticket is issued or other credentials associated with the electronic ticket or bettor A in order to obtain an indication of a previously issued wager registry ticket The put option associated with the bet.

FIG. 4 is an illustration of an exemplary user interface 400 for facilitating the use of sports wager registry wagering ticket putback options by bettor A, one or more portions of which may be displayed at Sports Bet Registry betting computer system 202, payment computer system 262 or bettor A computer system 264 on the monitor. Bettor A may, for example, use a sports wagering registry ticket put-back option (such as a sports wagering registry ticket put-back option purchased via interface 300 of FIG. 3) via interface 400 of FIG. During the specified game break or the indicated time period, previously purchased options are valid.

However, in some embodiments, all or some of the features and components of user interface 400 described herein may be configured for use in place of, or in addition to, bettor A for a sports wager registry employee cashier Or used by an agent, such as to purchase with a put-back option on behalf of bettor A and provide a refund to bettor A. In other embodiments, neither the sports wager registry nor bettor A need to use the user interface 400 to exercise the sports wager registry ticket put-back option. For example, bettor A may approach the sportsbook cashier, request to use the sportsbooks put-back option, give the sportsbook ticket to the cashier, and the cashier provides the refund amount to bettor A in cash . If Bettor A chooses to use the Sports Bet Registry to sell back option, then bettor A can keep the sports wager registrar informed of this via whatever system the sports wager registry prefers (whether electronic or open discourse). For example, bettor A may scan or insert a sportsbook ticket, or enter information related to a sportsbook ticket into an electronic kiosk, near a sportsbook agent at the sportsbook counter, or Enter codes or scan sports wager registry tickets, etc. with an electronic handheld device. However, with regard to bettor A, the kiosk, sports betting registry agent and/or hand-held device may use user interfaces 300 and 400, sports betting registry betting system 202, payment computer system 262 and/or bettors A computer system for any combination of the features and components described herein to make a sportsbook ticket put-back option purchase, utilize a sportsbook ticket put-back option, determine a sportsbook ticket refund amount, and / or pay the refund amount.

The period during which the sports wagering registry ticket put-back option may be utilized may be during all or a portion of any number of periods during a sporting event as determined by the sports wagering registry. For example, a sports wager registry ticket put-back option may be exercised during a single specific game break, multiple specific game breaks, or any game break. A game interruption is defined as a stoppage in a game for any reason and may include, but is not limited to, the following interruptions during various sporting events: halftime, quarter-game, innings or half-innings in a baseball game Between innings, game time-outs, between adjustment times and overtime periods, during warning laps for cars, breaks in hockey games, between rounds in boxing matches, certain types of game action (e.g., field goal, two-pointer) The period prior to additional scoring, free throws), and prior to certain events that may occur during the course of the game, including, but not limited to: player injury, pitcher off the field, or goaltender change. In some embodiments, the sports wagering registry may determine that the sports wagering registry ticket put-back option may be utilized from the time the wager is recorded until the conclusion of either a portion of the sporting event or the entire sporting event. This is defined as an indicated time period and may be communicated to the bettor when the bet is placed. In one embodiment, the Sports Bet Registry ticket put-back option may be utilized during an ongoing game and during all game interruptions during the indicated period.

For example, during halftime of a sporting event where Bettor A has placed a wager and purchased the halftime sports wagering registry ticket put-back option, bettor A may approach the sports wagering registry wagering computer system 202, access the sports wagering registry betting computer system 202, and use A cashier, employee or other agent of the sports wager registry wagering computer system 202, or using the bettor A computer system 264 the option. The bettors can scan the sports bet register tickets of those bettors at component 324 on the sports bet register betting computer system 202 which is configured to scan and read the sports bet register tickets on the RFID transponder or information encoded in machine-readable symbols. Component 324 can then print out vouchers or coupons that the bettor can redeem for cash, or in some alternative embodiments, dispense cash. In other embodiments, rather than receiving vouchers or cash, the bettor may receive instructions at or via component 324 on how to obtain a refund. For example, component 324 may print, display, or otherwise communicate instructions for the bettor on how, when, and where to proceed with the ticket to a cashier, refund machine, etc. to complete the refund process. Component 324 may also communicate a refund code or other item for use alone or in conjunction with a ticket to allow a bettor to receive a refund or initiate an electronic transaction to deposit a bettor's account to provide a refund.

In some embodiments where the sports bet registry ticket is an electronic ticket, bettor A may provide at the sports bet registry wagering computer system 202 or the bettor A computer system 264 associated with the electronic ticket given to the bettor when the ticket was issued , or enter the credentials associated with Player A and/or the issued e-ticket. A user interface item 318 may then be displayed to bettor A, the user interface item including a prompt asking bettor A whether or not bettor A would like to use the sports betting registry purchased for the sports betting registry ticket Notes put back option. User interface item 318 also displays the refund amount (ie, the value of the sports wager registry ticket put-back option to bettor A). User interface item 308 of user interface 400 is also configured to display an indication of the type of wager placed (eg, ABC), an indication of what sporting event (eg, XYZ game) to place the wager and the wager amount ( e.g. $110).

User interface items 318 also include controls (eg, user-selectable icons, dialogs, keys, switches, buttons) that can be selected by the bettor to indicate whether the bettor wants to use the sports wagering registry Notes put back option. For example, the user selects the icon or button 320 to indicate that the bettor wants to exercise the option, and selects the icon or button 322 to indicate that the bettor does not want to exercise the option. If bettor A selects the icon or button 320 to indicate that bettor A wishes to exercise the option, the refund amount will be distributed, sent or otherwise issued to bettor A.

As mentioned above, the current odds or wins of the bet against which the bettor will win the bet may be made based on whether the bettor will win at the specified game break or indicated time period of the sporting event when using the Sports Bet Registry ticket put-back option. rate to determine the refund amount (i.e., sports bets Value of Registry Bill Putback Option to Bettor A). An option may also include a minimum guaranteed amount (eg, 20% of the wagered amount, or other predetermined minimum amount) that will be refunded to the bettor if the bettor chooses to exercise the option. However, in some embodiments, there may be no guaranteed percentage refund or other guaranteed refund amount. The current calculation may be shown to the bettor at the time of purchase of the Sports Bet Registry ticket put-back option, or at any time from the time the bet is placed up to and including the time period when the bettor can exercise the option. The amount of the refund issued (ie, the current value of the Sports Bet Registry Bill Putback Option). For example, this value may be displayed on a public display at the sports wagering registry establishment, displayed on the display 318 of the bettor A interface, printed and provided to bettors, posted on the sports wagering registry website, and/or via E-mails, text messages, faxes, etc. communicate electronically. In some embodiments, bettor A may access and/or activate user interface 400 and scan or otherwise enter the bettor's ticket or ticket information so that user interface 400 displays the current refund amount (ie, sports wager the current value of the registry note put-back option).

The current refund amount (ie, the current value of the sportsbook ticket sold back to the bettor A option) may be determined in any manner selected by the sportsbook. Sports wagering registries may use historical odds modules, coin flips, or any system or method selected by such sports wagering registries. In some cases, sports wagering registries may choose to outsource the determination of the current refund amount to an individual or entity deemed to have special expertise in this area. Even when outsourcing, the Sports Bet Registry reserves the right to determine the current refund amount.

The determined refund amount may be based on statistical analysis of previous sporting events that have characteristics in common with the current sporting event for which the wager has been placed and the sports wager registry sell-back option has been purchased, and in some embodiments, based on intrinsic game factors. Such intrinsic game factors may include, but are not limited to, catastrophic player injury, illness, or other disqualification that occurs prior to the designated game interruption or prior to the end of the indicated period during which the Sports Bet Registry ticket put-back option may be exercised . In some embodiments, these analyses may be based on historical data regarding: the results of previous sporting events of the same type as the current sporting event at the time of the corresponding game break or corresponding interval in the previous sporting event, and at the previous sporting event Corresponding game interruption or other corresponding factors in the corresponding interval.

For example, if bettor A places on the Bears against the Packers (home team) $110 wager that the Packers won't win by more than 7 points and the scores are Bears 10 and Packers 17 at halftime, the analysis will determine the percentage chance of the home team scoring at least one point in the second half with a 7-point win at halftime (based on historical NFL Statistics). The sportsbook wagering computer system 202 or the money payment computer system 262 will then use this probability to determine the amount refunded to bettor A at halftime for the exercise of the sportsbook ticket putback option. The percentage amount of the refund may also be further reduced (eg, by one percentage point) as an additional charge to the bettor, and will therefore increase the amount (ie, tap) organized by the sports wager registry. Using this example, if at half-time there is a 75% chance that the home team will score at least one point in the second half with a 7-point win and the Sports Betting Registry reduces the percentage or winning percentage paid to bettors, for example, by one percentage point, then The amount refunded to Player A in the event that Player A exercises the put-back option will be (25%-1%)*$210=$50.40. However, in other instances where the same wager amount is used, based on the odds and an additional percentage charged by the sports wager registry organization, if the determined amount for the refund falls below the guaranteed refund amount (e.g., falls below the wager amount 20% or less), the refund amount will instead be the guaranteed refund amount of 20% ($22) of the wagered amount.

In some embodiments, the determined amount to be refunded to the bettor when the bettor utilizes the Sports Bet Registry ticket put-back option may also be based on the amount paid during the previous game break and/or the current designated game break or indicated period. The current number of sportsbook ticket put-back options used by a particular winning or losing team, or adjusted based on the current number to maintain a sportsbook ticket return for each team at the sporting event A more even amount for selling options. For example, if the current number or dollar value of put-back options exercised against Team A of a sporting event is significantly greater than the current number or dollar value of put-back options exercised against Team B of a sporting event, the The determined amount to be refunded by Team A for exercising the Sports Betting Registry Ticket Putback Option and/or may increase the determined amount to be refunded for exercising the Sports Betting Registry Ticket Putback Option against Team B .

As described herein, a bettor may cash out a wager in exchange for a cash out price (or refund amount) prior to the outcome of the wager (eg, before the wager is determined to be a winning wager or a losing wager). For example, bets on the outcome of the game can be cashed out before the game is over. When a bettor cashes out a bet, the bet may be abandoned, cancelled, withdrawn, refunded, rendered void or unfulfilled, voided, deleted, transmitted to the betting counterparty (e.g. requested in the event of a winning bet) pay pie the counterparty to the payout), or otherwise presented such that the counterparty who is required to pay a payout for a bet where the bet is no longer a winning bet is required to pay the payout. For illustrative purposes, examples of various embodiments herein may describe such cashouts in exchange for "cancelling" wagers. It should be understood, however, that wagers need not be technically "cancelled," but instead may be abandoned or otherwise cashed out.

While a number of embodiments are described herein in which the bettor pays for the option to place a sellback or cash out bet, it should be understood that in some embodiments, the bettor may not be charged for participating in the sellback option. For example, the bettor who placed the bet may be offered the opportunity to sell the bet back, eg, without charging the bettor (or having been charged to the bettor) for the opportunity to sell the option, prior to determining the outcome of the bet .

In some embodiments, the user may cash out the wager prior to the outcome of the wager in exchange for a refund amount or cash out price determined at least in part on: (1) risk management information associated with the counterparty to the wager; and /or (2) the current odds that the wager will win; and/or (3) the current market value of the wager (eg, as priced in the market used to exchange the wager).

Risk Management Information may include information related to pending bets that are associated with the counterparty to the bet (for example, bets for and against outcomes accepted by the Casino Operator in the Bet Registry, where the " "Casino Operator" is the counterparty to the wager). In some embodiments, the risk management information may include information about the imbalance between (1) the potential payoff from a losing wager on a particular outcome; and (2) on the wager on a particular outcome Potential payout of a winning bet.

In some embodiments, a "casino operator" may receive a bet on one or more of a particular outcome (eg, a bet that the Seahawks will beat the Patriots by 3.5 points) and one or more of one or more mutually exclusive outcomes A bet (eg, the Seahawks will not beat the Patriots by 3.5 points, or equivalently, the Patriots will beat the Seahawks or lose to the Seahawks by less than 3.5 points). Such bets may be accepted by the Casino Operator. A wager on an event (eg, for or against a Seahawks wager) accepted by the "Casino Operator" may include the Casino Operator's "Bet Registry" for that particular event (eg, the Patriots vs. Seahawks game). For bets on a game where one team will beat the other team, if for each bet outcome, the losing bet The proceeds of the bet will be sufficient to cover the payout of the winning bet, the "Bet Registry" of the "Casino Operator" (e.g., the counterparty to one or more bets made by the User) may be deemed to be " Balanced" or "matched". For example, if the total amount of bets that exist on one side of the bet (eg, Patriots will win bets) is equal to the amount of bets that exist on the other side of the bet (eg, Seahawks will win or lose bets by less than 3.5 points) Note) the total amount is equal or approximately equal, the wagering register may be balanced.

All other things being equal, the casino operator may prefer that, for each possible bet outcome, the total potential payout on one side of the bet (eg, a bet on Seahawks) is determined by The total return of the bet on the side (eg, a bet on Patriots) is offset. Thus, a "casino operator" may prefer to keep its "bet registry balanced", eg, such that the total amount (exposure) on one side of the bet is equal (or approximately equal to) the total amount (or potential bet) on the opposite side of the bet Losing bet earnings). In the above example, to the extent that the total amount of bets on each side of the bet is equal, the money received by the casino operator for the losing bet can be used for the winning bet regardless of the outcome of the bet Lottery provides funds. For example, all things being equal, a casino operator may prefer that the total amount wagered on Patriots be equal to (or approximately equal to) the total amount wagered on Seahawks. If a wager totals $100,000 on Seahawks and a total of $100,000 on Patriots, the casino operator will have no risk with regard to the outcome of the wager: regardless of who wins, the funds received from the losing wager (eg $100,000) will be sufficient to cover the winning wager The payout of the bet (eg $100,000). (For illustrative purposes, fees, commissions, spreads, different win rates, and other concepts have been ignored in this example.)

The casino operator (or other party responsible for paying winning bets) may be deemed to be There is exposure (or risk) to that outcome, and that party's "Bet Registry" may be considered unbalanced. In some embodiments, risk management information may include information about such exposures, risks and/or imbalances, eg, as described herein.

In some embodiments, the payoff of a bet on a total of one outcome (eg, a bet that Seahawks will win by at least 3.5 points) may be the same as a bet on one or more mutually exclusive outcomes (eg, a bet that the Seahawks will not win). Win 3.5 points bet) unbalanced. In such situations where the total amount of bets received by a betting counterparty (eg, a casino operator) on a particular outcome differs from the total number of bets received by that counterparty on mutually exclusive outcomes, a determination may be made against the counterparty The total amount of the party's wager is "unbalanced" to the extent that such amounts are not identical. For example, if 90% of the bet size (accepted by the opponent) is the result A bet that will occur and only 10% of the bet amount (accepted by the opponent) is placed on one or more outcomes in which A does not occur, the casino operator or other betting opponent may for unbalanced.

In some embodiments, one or more bettors may be offered to sell back their existing bets on the outcome while the bet is still pending (eg, before an outcome can occur, such as for a bet on a pair game, before the game ends). Opportunity to note. For example, a "casino operator" may offer various put-back prices to various bettors, and such put-back prices will be paid to bettors for selling back (or canceling, withdrawing, etc.) bettors' bets. The putback price (eg, the price paid to the bettor in exchange for the bettor abandoning or selling back a bet, eg, as described herein) may be determined based on risk management information. For example, the sellback amount may be determined based on one or more of the following: (1) an imbalance between the wagering against the casino operator and the wagering in favor of the casino operator; and/or (2) the wagering the current market value of the bet (eg, as determined based on the price offered at the time of the bet exchange to buy and sell the bet); and/or (3) the odds that the bet will be a winning bet.

In some embodiments, a "casino operator" or other entity may provide information about an or Cash-out amounts for multiple bets to one or more users. The cash-out price may be calculated based on, for example, (1) the probability of success for the selected outcome; and (2) for counterparties, the bet placed in favor of the outcome and the bet placed against the outcome (e.g. , including or excluding any bets that have been placed otherwise).

In some embodiments, a "casino operator" may price a cash-out price based, at least in part, on the current odds that the outcome of the bet will occur, commissions or other cost factors, and the bet on one side of the bet (e.g. , a bet that the Patriots will win) and a bet on the other side of the bet (eg, a bet that the Seahawks will win).

For example, in some embodiments, there is an imbalance between a bet for a particular outcome and a bet against a particular outcome (eg, in another scenario, a bet for and against the Patriots defeating the Seahawks). For example, the imbalance may contain $30,000.

In some embodiments, the cashout price offered (eg, and paid) to cash out a bet may be determined based on a value determined based on the bet's odds of success less fees and/or commissions or spreads (eg, , the price can be a calculated percentage of the amount bet). In some embodiments, the amount paid to the cash-out participant may include an adjustment based on factors associated with risk management The total calculated amount (e.g., the amount associated with the degree to which the "casino operator" has an imbalance between bets on this outcome and opposite bets, which are the opposite of bets of this type.)

In some embodiments, in order to mitigate the casino operator's risk with respect to a particular bet outcome, the "casino operator" may, in a manner that is more or less favorable to the counterparty of the bet, Cash-out pricing (before the outcome of the bet occurs). For example, a "Casino Operator" may have an unbalanced wagering registry if he accepts wagers totaling $50,000 that the Seahawks will win but only accepts wagers totaling $10,000 that the Patriots will win. Bettors placing bets on the Patriots may wish to cash out their bets before the Patriots v Seahawks game is over (ie, before the outcome of the bet is determined). In this situation, the "casino operator" holding all of the bets may have an imbalance in the bet size on the outcome of the game, eg, the Seahawks bet five times the Patriots bet. If the Seahawks win, the casino operator may have to pay the winning bet $50,000, but will only hold the $10,000 from the losing bet. Therefore, the casino operator will have a net liability of $40,000 due to the imbalance of wagering in its wagering register. Before the game is over, some bettors may wish to cash out such bettors' bets, eg, by exercising an option to cash out bets (eg, as described herein). Cash-out prices offered to cash out bets on Seahawks may be more favorable to bettors, for example, to encourage early cash-out. To the extent that bets on Seahawks are cashed out before the game is over, a casino operator may reduce the casino operator's potential net liability with respect to the outcome of the game. In other words, if the cash out on the Seahawks bet was greater than the cash out on the Patriots bet, the $40,000 imbalance in the betting registry would be reduced by the end of the game, causing the casino operator's potential liability to increase by the end of the game. Low. For example, if a $40,000 bet on Seahawks is cashed out prior to the outcome of the game and no Patriots bet is cashed, at the end of the game the casino operator will hold a $10,000 bet on Seahawks and a $10,000 bet on Patriots , the casino operator will at this point be a balanced wager registry. (It should be understood that the numbers provided here are simplified numbers used to illustrate concepts and that such numbers ignore factors such as different odds offered to different wagers, casino operator commissions, handling fees, etc.)

A more favorable price for cashing out Seahawks bets before the game ends (eg, to reduce the imbalance in the casino operator's wagering register before the game ends) can be calculated in various ways. Ignoring the imbalance of bets, the "casino operator" may want to cash out in addition Seahawks make a bet for 70% of the expected value of the bet. (Expected value can be calculated by multiplying the current chance that the bet will win by the payout to the bet if the bet wins; for example, with a $10 payout there is a 40% chance of a bet would win, the expected value of the bet could be $4.) However, since there is already more volume to support the Seahawks winning, the casino operator "may wish to encourage cash out on the Seahawks bet, for example, hope this pricing Will tend to improve the overall balance of bets for and against certain outcomes as outcomes are adjudicated. For example, the cash-out price of a bet on Seahawks may be more favorable to the bettor (eg, the expected value of 80%). Cash-out Seahawk bets will tend to improve the balance of the betting register.

In some embodiments, the cash-out price may be determined as follows. It may be determined that the wager will be the current chance of the wager winning. For example, based on the current score of the game at halftime (or other current game conditions), the current odds that the Seahawks will win may be determined. For example, if the Seahawks lead by 20 points (eg, at halftime), an 80% chance that the Seahawks will win by 3.5 points can be calculated. Therefore, the "expected value" of a $100 bet on Seahawks can be calculated to be $80. One or more fees may be deducted from the expected value, such as casino operator fees, risk payments, casino operator spreads and other fees. For example, a total of $10 may be subtracted from this value to cover casino operator fees. The price of $70 may be calculated as the cash out price and, for example, if the wager registry is balanced, $70 may be offered to cash out the Seahawks bet. If the betting registry is unbalanced due to an excess of betting volumes in favor of Seahawks, an improved cash-out price may be offered to cash out bets placed on Seahawks. For example, the cash-out price may be increased by an amount such as $5, and thus a price of $75 (rather than $70) may be offered to cash out a $100 bet on Seahawks during the halftime period. In some embodiments, the $10 fee may be reduced by an amount such as $5, resulting in a cash-out price of $75 as well. If the bettor cashes out the $100 bet, the imbalance between the Seahawks bet and the Patriots bet will be slightly reduced. The cash-out price may be updated after one or more users cash out the one or more users' wagers, eg, to reflect a changed wager registry imbalance.

On the other hand, cashing out Patriot bets will tend to exacerbate the imbalance in the betting register. Thus, in situations where a cash-out bet would exacerbate a bet registry imbalance (eg, in the example above, the cash-out bet on Patriots), a less favorable cash-out price may be offered to bettors wishing to cash out the bet . For example, during halftime, based on a 20% chance of the Patriots winning, The expected value of a $100 bet on Patriots can be calculated as $20. A fee of $10 can be subtracted from this price, resulting in a price of $10. Since a cash out wager will tend to exacerbate the wagering registry imbalance, this price can be reduced by an amount such as $5, resulting in an offer cash out price of $5.

In some embodiments, fees ($10 in the above example) may be increased based on the imbalance (to lower the cash-out price and thus discourage cash-outs that would exacerbate the imbalance) or reduced (to improve the cash-out price and encourage will improve unbalanced cashouts). For example, a percentage change in fees may be determined based on the degree of imbalance. If, for a given wagering outcome, the total payout (and/or other liability) would exceed the wagering earnings (and/or other earnings) on the losing bet by a certain threshold amount, the fee may be reduced to balance the cash out Or increase (for unbalanced cashouts) various associated threshold amounts or percentages. For example, a fee percentage reduction between 0% and 100% can be assigned to various imbalance amounts. For example, 0% may apply when the wager registry is balanced, and 100% may apply when the wager registry is unbalanced by $100,000 or more. Fees may be reduced by 1% for every $1000 of imbalance between $0 and $100,000. Relatedly, fees may be increased by a certain percentage based on the current level of imbalance in order to unbalance the cash out. For example, for every $1000 of imbalance, the fee can be increased by 1%. For example, if the current imbalance (potential liabilities over wagering earnings on losing bets) is $6,400, a cash-out fee of 6.4% would apply. In the above example, the $10 fee for cashing out the $100 Patriots bet could be increased by 6.4% to $10.64, resulting in an offered cash out price of $9.36 for cashing out the $100 bet on Patriots; and the Seahawks bet could be increased by 6.4% The fee is reduced to $9.36, resulting in a cash-out price of $70.64. Other methods of pricing cashouts based on risk may also be considered.

In some embodiments, the amount that can be added to or subtracted from the initial price (eg, to encourage or discourage cash-out) can be determined based on the degree of imbalance. For example, a spread may be based on the difference between exposures measured in absolute terms (eg, dollars of exposure) or in relative terms (eg, the percentage of bets in favor of an outcome versus the percentage of bets against that outcome). amount.

In some embodiments, risk management information may be updated over time, eg, based on updated odds information and updated wagering information (eg, as wagers cash out and "imbalance" changes). Similarly, the cash-out price can be updated over time to reflect the changed information. Therefore, the cash-out price offered to bettors at one time may be different from the cash-out price offered at another time Current price.

It should be understood that wagering may include wagering on any outcome of any event such as sporting events, political elections and other events. For example, a bet may include a bet on the outcome of a particular inning or at-bat in a baseball game, or a bet on the outcome of a particular dead ball or possession during a football game. In such instances, the degree of imbalance in the wager registry of wagers may be determined based on the degree to which the "casino" entity may use the wagering proceeds from the losing wagers to cover potential payouts.

5 shows a method 500 for electronically processing a request to purchase a sports wagering registry wagering ticket put-back option, according to one illustrated embodiment. In some embodiments, the bettor may communicate the request for the wager to the designated agent of the sports wagering registry in any manner. The agent may then enter the wager into the sports wager registry wagering computer system 202 .

The method 500 begins at 502, where the sports wager registry wagering computer system 202 shown in FIG. 2 receives a request to place a bettor's bet for a wager on the outcome of an event.

At 504, the sports wagering registry wagering computer system 202 receives an indication of whether the bettor has elected to purchase an option to be exercised at will by the bettor during the game break or indicated period for the bettor to receive compensation to cancel the bet.

At 506, if the received indication indicates that the bettor has elected to purchase the option, the sports wager registry wagering computer system 202 determines the option fee to be charged to the bettor for purchasing the option.

Additionally, in some embodiments, sports ticket put-back options may be automatically sold or included as part of a bet placed by a bettor, and the bettor is automatically charged without prompting the bettor to indicate whether the bettor needs to buy Stake Registry Notes Putback Option.

6 shows a method 600 for electronically determining an amount refunded to a bettor who is applying a sports wager registry wager previously purchased by the bettor useful in the method of FIG. 5, according to an illustrated embodiment Notes put back option. For example, during a designated game break during a sporting event, or in some embodiments, at any time from the moment a wager is placed until the end of the sporting event, the sports wagering registry wagering computer system 202 may receive that a bettor is Instructions to exercise a purchased option in response to the bettor being exercising With the received indication of the purchase option, the sports wager registry wagering computer system 202 determines the amount to be refunded to the bettor according to method 600 . Although the method 600 described below includes determining the amount refunded to the bettor based on the probability of whether the bettor will win the wager's wager, the amount refunded to the bettor may be based on any matter. For example, the amount refunded to the bettor may be based on (including but not limited to): a chance method, a random method, a recommendation from a person or entity, a vote, a fixed amount, and the like. In various embodiments, the amount refunded to the bettor may be any percentage of the original wager made by the bettor, a single amount, or any combination of the two.

The method 600 begins at 602, where the sports wager registry wagering computer system 202 shown in FIG. 2 determines the current odds (eg, percentage odds) that the bettor will win the wager placed at the game break or indicated time period .

At 604, the sports wager registry wagering computer system 202 subtracts the determined amount (eg, a percentage, a single fee, or a combination of the two) from a number reflecting the current odds (eg, a percentage odds) to obtain a multiplier.

At 606, the sports wager registry wagering computer system 202 multiplies the multiplier by the amount that would be paid to the bettor if the bettor would wager a win to obtain a bettor refund amount factor.

At 608, the sports wager registry wagering computer system 202 subtracts the determined amount (eg, a percentage, a single fee, or a combination of the two) from the bettor's refund amount factor to determine the amount refunded to the bettor.

The method may further include changing the determined amount refunded to the bettor at any time during the sporting event prior to a designated game interruption or indicated time period, or before the end of the event in which the wager was placed, the change in the determined amount by electronic sports Bet registry betting system instructions.

The method may further include communicating the changed determined amount to the bettor in response to the change in the determined amount.

For example, the method may include communicating the determined amount to the bettor at any point in time ranging from the moment the wager is recorded to the point during a game break or indicated period during a sporting event. Receiving an indication of a bettor's desire to exercise an option may include receiving a bettor's desire to exercise a purchased option during a game break during a sporting event or during an indicated period. Option instructions.

The method may further include communicating the determined amount to the bettor in response to a received indication that the bettor wishes to exercise the purchased option.

Prepaid, non-refundable costs or fees charged to bettors for the purchase of the put-back option and fees collected at 604 and 608 are determined by the Sports Bet Registry. Such fees may vary depending on, for example, individual sporting events, wagering types, or even changing from time to time (e.g., the day of the week the wager is placed and/or the day of the week the sporting event occurs). At the discretion of the Sports Betting Registry, some or all of these fees may be waived as a means of increasing the interest of current bettors and attracting new bettors. In addition to the waiver fee, the Sports Betting Registry may also incentivize the purchase and/or redemption of the Sports Betting Registry ticket put-back option by offering casino compensation ("Coupons") including, but not limited to: Fees or discounts for hotel room stays, show tickets, meals, beverages, gift certificates, and more.

7 shows a method 700 for electronically issuing a ticket indicating a wager associated with a sports wager registry wagering ticket put-back option, according to one illustrated embodiment.

The method 700 begins at 702, where the sports wager registry wagering computer system 202 shown in FIG. 2 receives an indication that a bettor has placed a wager for a wager on the outcome of the event.

At 704, the sports wager registry wagering computer system 202 receives an indication that the bettor has paid an option fee to purchase an option to be exercised at will by the bettor during the game break or indicated period in order for the bettor to receive a compensation cancellation bet.

At 706, the sports wager registry wagering computer system 202 issues a ticket to the bettor indicating the wager associated with the purchased option. As mentioned above, a sports wager registry ticket may be an electronic ticket issued electronically, such as by providing a code associated with the electronic ticket to the bettor, or associating the issued electronic ticket with the bettor's account or associated with other bettor credentials.

8 shows a method 800 for electronically initiating payment to a bettor who is using a sports wager registry wagering ticket putback option previously purchased by the bettor, according to one illustrated embodiment.

The method 800 begins at 802, where the sports wager registry wagering computer system 202 or payment computer system 262 shown in FIG. An indication that a bettor is exercising an option in order for the bettor to receive compensation to cancel a bet previously placed by the bettor on the outcome of the event.

At 804, the sports wager registry wagering computer system 202 or the money payment computer system 262 determines the amount to be refunded to the bettor in response to the received indication that the bettor is exercising the option.

At 806, the sports wager registry wagering computer system 202 or payment computer system 262 initiates payment of the amount refunded to the bettor. The amount refunded to the bettor may be paid in currency, or in the form of a line of credit or any item of value to the bettor, including casino compensation (“Coupons”) including, but not limited to, fees or Discounted hotel room stays, show tickets, meals, drinks, gift certificates and more.

At 806, the sports wager registry wagering computer system 202 or payment computer system 262 then cancels the wager. For example, a wager may be removed from the sports wagering registry wagering computer system 202 or otherwise indicated by the sports wagering registry wagering computer system 202 as cancelled, void, or no longer active.

Put-back option with multiple use options

According to another example of a sell-back option, in conjunction with the bettor/customer/user wagering money to place/bet on an event, and/or after this, the bettor may be presented with a buy option to cancel/clear/return Sell the bet as a refund/refund amount/refund amount/cancellation amount/cancellation amount R as a reward/exchange refund/refund amount/refund amount/cancellation amount/cancellation amount R. In conjunction with the opportunity to present the option to buy, the bettor may also be offered/presented to multiple (eg, two or more) choices as to when the option may be exercised, or in other words, offered/presented to the bettor as to when the option may be used Multiple choices that can be expired. For example, there may be four choices, but fewer or more choices may be presented. Thus, the bettor may have the option to purchase a first use time X1, a second use time X2, a third use time X3 and/or a fourth use time X4, or in other words, have expired X1, X2, X3 and/or X4 choice of options. According to this example, expiration/use time X4 may follow/after expiration/use time X3, expiration/use time X3 may follow/after expiration/use time X2, and expiration/use time X2 may follow/at expiration/use time After X1. According to another aspect of this example, the refund amount R may be the same regardless of which of the expiration/time(s) the bettor can choose. Also, according to this example, each usage time may have Associated prices/costs/fees, such as time of use X1 has price P1, time of use X2 has price P2, time of use X3 has price P3, and time of use X4 has price P4. According to this example, one or more of prices P1, P2, P3, and P4 may be different, and in particular, each of prices P1, P2, P3, and P4 may be different. According to one example, P1 may be smaller than P2, P2 may be smaller than P3, and P3 may be smaller than P4. In other words, a longer expiration time may have a larger price.

Thus, according to this exemplary sellback option, in conjunction with and/or after placing/staking a wager, the bettor may purchase an option to cancel/clear the wager in return for the refund amount R. Additionally, the bettor may choose how much time the bettor wants to make a decision on whether to cancel/clear the bet via exercise of the option, including, for example, up to and/or including exercise time X1, up to and/or including The later operating time X2, up to and/or including the further later operating time X3, or up to and/or including the further later operating time X4. According to this example, the more time a bettor wants, the higher the price a bettor can pay for an option. Additionally, each play time may have the same refund amount R, with the difference being that the bettor may pay more for additional time to make a decision.

As an example, a bettor may place a $100 bet on a football game, such as the Packers vs Bears game. In conjunction with placing/putting this bet and or thereafter, the bettor may be presented with a purchase option to clear/cancel the bet for the possibility of a refund amount of 25% of the bet amount or $25. Additionally, the user can be presented with four expiration times, each with a different price:

- Cost $2.50: The bettor may exercise the option to receive a $25 refund at any time up to and possibly including the end of the first quarter (eg, before the start of the second quarter).

- Cost $5.50: A bettor may exercise the option to receive a $25 refund at any time up to and possibly including the end of the second quarter (eg, before the start of the third quarter).

- Cost $9.00: A bettor may exercise the option to receive a $25 refund at any time up to and possibly including the end of the third quarter (eg, before the start of the fourth quarter).

- Cost $12.50: The bettor may exercise the option to receive a $25 refund at any time up to and possibly including the 2 minute warning in the fourth quarter (eg, before play begins after the 2 minute warning).

Therefore, if a bettor decides to purchase an option, he or she can choose the desired expiration/exercise time for the option. The price of the option may be the price associated with the selected expiration/expiration time. Thereafter, the bettor may choose to exercise the option at any time up to and/or including, for example, a selected expiration/exercise time, and receive a refund amount R in return, thereby canceling/clearing the original wager. If the expiration time elapses and the bettor does not exercise the option, the option expires, the bettor's bet remains as-is/uncancelled, and the user can win or lose bets based on the outcome of the event placed.

Those skilled in the art will recognize that in conjunction with the bettor placing/putting a bet and or thereafter, the bettor may be presented with the possibility to purchase any one or more of a plurality of options to clear/cancel the bet, rather than The bettor is presented with the possibility to buy an option and the option has a plurality of hours of play that the bettor can choose from. Here, each option may have the same refund amount R, but with each option having progressively longer durations of use, and each option having progressively larger prices. Again using the above example where a bettor may place a $100 bet on a football game (such as a Packers vs Bears game), the bettor may be presented to buy any one or more of the four options to clear/cancel the bet for 25% of the bet amount % or $25 possibility of a refund amount.

Option 1: Cost $2.50 - Bettors may exercise the option at any time up to and possibly including the end of the first quarter (eg, before the start of the second quarter) to receive a $25 refund .

Option 2: Cost $5.50 - Bettors may exercise the option at any time up to and possibly including the end of the second quarter (eg, before the start of the third quarter) for a $25 refund .

Option 3: Cost $9.00 - Bettors may exercise the option at any time up to and possibly including the end of the third quarter (eg, before the start of the fourth quarter) for a $25 refund .

Option 4: Cost $12.50 - Bettors may exercise the option at any time up to and possibly including the 2 minute warning in the fourth quarter (eg, before the game starts after the 2 minute warning) for $25 Refund.

Those skilled in the art will recognize that the above-described characteristics of this exemplary option are examples only, and that other variations are possible, including applying the option to sports other than football and to events other than sports.

Turning to a further exemplary aspect of this exemplary put-back option, the refund offered to the bettor (and subsequently received by the bettor upon exercising the option) may be selected in conjunction with each exercise/expiration time of a given option. The payment/cancellation amount R may be a predetermined amount. In other words, the refund amount associated with each of the exercise/expiration time options can be determined and communicated to the bettor at the time the buy option is offered to the bettor/while the bettor is considering the buy option , so that if a bettor purchases an option with a selected duration of exercise and later decides to exercise the option, the bettor can know the amount of refund he/she will receive. The refund amount may be the guaranteed amount. In other words, the refund amount can let the bettor know that if the bettor purchases an option and later decides to exercise the option, the bettor is guaranteed to receive the refund amount (eg, exactly the amount determined to be refunded, or at least at a minimum the amount of the refund determined).

The refund/cancellation amount R offered in conjunction with each use/expiration time option of a given option can be determined in various ways. For example, regardless of the wager placed (eg, regardless of the amount wagered, regardless of the amount the bettor must win/potential (ie, payout) for the wager associated with the option, etc.), the refund amount R can be a set/constant amount. For example, the refund amount associated with each of the hours of play associated with the offered option may be the same amount, and this amount may be the same for all bettors. Sports wagering registries may, for example, set a refund amount. As another example and/or additional example, the refund amount may vary depending on when the option was purchased by the bettor. For example, assuming that until a certain set time (which set time may be: before and/or a certain time including the start of the event, a set time after the start of the event, etc.) the option can be purchased, the refund amount may be Depends on when the option is purchased relative to the set time. For example, assuming an option can be purchased until one minute (set time) before the start of the event being wagered on, if an option is purchased at any time up to one day before the set time, the refund amount may be the first amount, and if after that , until any time the option is purchased at the set time, the refund amount may be the second amount. The closer the time of purchase option is to the set time, the less the refund amount can be. Alternatively, the refund amount may be increased as the time of purchase of the option is closer to the set time. As the set time approaches, the refund amount can be changed at preset times (which may or may not be made known to the bettor), such as: a week before, a day before, twenty-four hours before, a Wait hours before. As another example and/or additional example, for a given sporting event (eg, let's say football), the refund amount may be the same amount for each game on a given day, or across games played within that day. One or more of the games may be different (eg, each bettor placing a bet on Game A and exercising the associated option may receive a refund amount R1, and each bet placed on Game B and exercising the associated option) can receive a different refund amount R2). As another example and/or additional example, the refund amount may be the same across different sporting events (eg, assume football and baseball), and/or may be different across one or more different sporting events. Other variations are possible.

According to another example and/or additional examples, the refund amount R may be determined based on the wager amount W of the wager associated with the option. For example, the refund amount may be a predetermined percentage of the wagered amount W. Sports wagering registries may, for example, set this percentage. For example, if a bettor is betting $100 on an event and the predetermined percentage is 25%, then when the option is exercised, the bettor may receive $25 ($100 x 25%) regardless of the time the bettor chooses to exercise (ie. The refund amount associated with each time of use of the option to the bettor may be $25). The predetermined percentage may vary depending on when the option is purchased. For example, assuming that options are available for purchase until a certain set time, the percentage may vary depending on when the option is purchased relative to the set time. For example, assuming an option can be purchased until one minute before the start of the event being wagered, if an option is purchased at any time up to one day before the set time, the percentage can be the first amount, and if after that, until the set time at any time of the purchase option, the percentage may be the second amount. This percentage may decrease as the time to purchase the option is closer to the set time. Alternatively, the percentage may increase as the time to purchase the option comes closer to the set time. As the set time approaches, the percentage may change at a preset time (which may or may not be made known to the bettor), such as: a week ago, a day ago, twenty-four hours ago, an hour ago, etc. . As another example and/or additional example, the percentage may vary depending on the size of the wagered amount W. For example, the larger the bet amount, the lower the percentage. Alternatively, the percentage can be increased for larger stakes. As an example, wagering amounts may be classified into multiple ranges, and a percentage is associated with each range. As another example and/or additional example, the percentage may vary according to the payout/potential estimated payout that the bettor will definitely win for the bet associated with the option. For example, the larger the payout, the smaller the percentage. Alternatively, the percentage can be increased for larger payouts. As an example, payouts can be classified into multiple ranges, and a percentage is associated with each range. As another example and/or additional example, for a given sporting event (eg, assuming football), the percentages may be the same for each game on a given day, or one or more across games played on that day can be different. as another example and/or amount As an additional example, the percentages may be the same across different sporting events (eg, assuming football and baseball), and/or may be different across one or more different sporting events. Other variations are possible.

As another and/or additional instance where the refund amount R is determined based on the wager amount W, the wager amount may be broken down into multiple ranges, and each range has an associated refund amount. For example, the larger the wager amount, the smaller the refund amount may generally be. Alternatively, the larger the wager amount, the refund amount may generally increase. As another example and/or additional example, the refund amount for one or more of these ranges may vary depending on when the option was purchased. For example, assuming that options can be purchased until a certain set time, the refund amount for one or more of the ranges may vary depending on when the option was purchased relative to the set time. Generally, the closer to the set time the option is purchased, the less refundable amount can be across those ranges. Alternatively, the closer to the set time the purchase option is, the refund amount across those ranges may increase. As the set time approaches, the refund amount across these ranges can be changed at preset times (which may or may not be made known to the bettor), such as: a week before, a day before, twenty Four hours ago, an hour ago, etc. As another example and/or additional example, for a given sporting event (eg, let's say football), the range and/or the refund amount across the range can be the same amount for each game on a given day, or across the range One or more of the games played during the day may be different. As another example and/or additional example, the ranges and/or refund amounts across such ranges may be the same across different sporting events (eg, assuming football and baseball), and/or across one or more different sporting events can be different. Other variations are possible.

Refund amounts may be determined in ways other than those discussed herein based on the amount wagered. As another example and/or additional example, the putback option may not be made available to the bettor for a specified size/amount or greater wagered amount. As another example, the putback option may not be made available to the bettor unless the wager amount has a minimum size/amount. A sports wagering registry may, for example, specify wagering amounts for which options are available/not available. As yet another example and/or additional example, the wagered amount used to determine the refund amount may have an upper limit. In other words, when the bettor bets an amount greater than the specified upper limit amount, the bet amount used to determine the refund amount may be set at the upper limit amount. For example, assuming that the refund amount can be a predetermined percentage (let's say 25%) of the wager amount W and the cap amount is $100, if the bettor bets $110, the refund amount can be set at 25% of the cap amount of $100 (ie, $25) instead of $110 25%. Sports wagering registries may specify a cap amount, for example. Other variations are possible.

According to another example and/or additional examples, the refund amount may be determined based on the payout/potential estimated payout that the bettor will definitely win for the wager associated with the option. For example, the refund amount may be a predetermined percentage of the payout/potential payout. Sports wagering registries may, for example, set this percentage. For example, if a bettor is guaranteed to win $100 on a wager and the predetermined percentage is 25%, then when the option is exercised, the bettor receives $25 ($100 x 25%) regardless of the exercise time the bettor chooses (i.e. , the refund amount associated with each exercise of the option offered to the bettor may be $25). As similarly discussed above, the predetermined percentage may vary depending on when the option is purchased. For example, the percentage may decrease as the time to purchase the option is closer to the set time. Alternatively, the percentage may increase as the time to purchase the option comes closer to the set time. As the set time approaches, the percentage may change at preset times (which may or may not be made known to the bettor), such as: a week before, a day before, twenty-four hours ago, an hour wait before. As another example and/or additional example, the percentages may vary depending on the size of the payout/potential payout. For example, the larger the payout/potential payout, the smaller the percentage. Alternatively, the percentage may increase for larger payouts/potential payouts. As an example, payouts/potential payouts can be classified into multiple ranges, and a percentage is associated with each range. As another example and/or additional example, the percentage may vary according to the wagered amount. For example, the larger the bet amount, the smaller the percentage. Alternatively, the larger the stake, the percentage can be increased. As an example, wagering amounts may be classified into multiple ranges, and a percentage is associated with each range. As another example and/or additional example, for a given sporting event (eg, assuming football), the percentages may be the same for each game on a given day, or one or more across games played on that day can be different. As another example and/or additional example, the percentages may be the same across different sporting events (eg, assuming football and baseball), and/or may be different across one or more different sporting events. Other variations are possible.

As another and/or additional instance where the refund amount R is determined based on the payout/potential payout, the payout/potential payout may be divided into multiple ranges, and each range has an associated refund amount. For example, the larger the payout/potential payout, the generally smaller the refund amount. Alternatively, the larger the payout/potential payout, the refund amount may generally increase. As another example and/or additional example, the refund amount for one or more of these ranges may vary depending on when the option was purchased. For example, the closer to the set time the purchase option is, the less refundable amount can be across those ranges. or, The closer to the set time the option is purchased, the greater the amount of refunds across those ranges. As the set time approaches, the refund amount across these ranges can be changed at preset times (which may or may not be made known to the bettor), such as: a week before, a day before, twenty Four hours ago, an hour ago, etc. As another example and/or additional example, for a given sporting event (eg, let's say football), the range and/or the refund amount across the range can be the same amount for each game on a given day, or across the range One or more of the games played during the day may be different. As another example and/or additional example, the ranges and/or refund amounts across such ranges may be the same across different sporting events (eg, assuming football and baseball), and/or across one or more different sporting events can be different. Other variations are possible.

Refund amounts may be determined based on payouts/potential payouts in ways other than those discussed herein. As another example and/or additional example, for payouts/potential payouts of a specified size or greater, putback options may not be made available to bettors. A sports wager registry may, for example, specify payouts/potential payouts for which options are available/unavailable. As yet another example and/or additional example, the payout/potential payout used to determine the refund amount may have a cap. In other words, when the payout/potential payout is greater than the specified upper limit amount, the payout/potential payout used to determine the refund amount may be set at the upper limit amount. Sports wagering registries may specify a cap amount, for example. Other variations are possible.

Turning to a further exemplary aspect of this exemplary put-back option, regardless of the wager/amount wagered and/or regardless of the payout/potential estimated payout that the bettor will definitely win, with each application time The associated price may be a set/constant amount. Therefore, the same price can be presented to each bettor. Sports wagering registries may, for example, set prices. According to another example and/or additional examples, one or more of the prices may be determined according to the wagered amount W of the wager associated with the option. As yet another example and/or additional example, the wagered amount used to determine the price may have an upper limit. In other words, when a bettor bets an amount greater than the specified upper limit amount, the bet amount used to determine the price may be set at the upper limit amount. According to another example and/or additional examples, one or more of the prices may be determined based on the payout/potential estimated payout that the bettor will definitely win for the bet associated with the option. As yet another example and/or additional example, the payout/potential payout used to determine the price may have a cap. In other words, when the payout/potential payout is greater than the specified cap amount, the payout/potential payout used to determine the price may be set at the cap amount. As yet another example and/or additional practice For example, one or more of the prices may change depending on when the bettor purchases the option. For example, one or more of the prices may decrease as the time to purchase the option comes closer to the set time. Alternatively, one or more of the prices may be increased as the time to purchase the option gets closer to the set time. As another example and/or additional example, for a given sporting event (eg, let's say football), one or more of the prices may be the same amount for each game on a given day, or across One or more of the games may be different. As another example and/or additional example, one or more of the prices may be the same across different sporting events (eg, assume football and baseball), and/or may be different across one or more different sporting events. Other variations are possible.

Turning to further exemplary aspects of this exemplary put-back option, the choice of exercise/expiration time that may be offered to a bettor in conjunction with a given option may be defined in various ways. For example, one or more of the hours of use associated with a given option may be: one or more specific times of the day, such as 12 noon, 1 pm, etc.; one or more after the start of the sporting event a specified amount of time, such as 15 minutes after the start of the game, 30 minutes after the start of the game, etc.; one or more specified times during the game, such as the end of one or more quarter games in football, one or more The end of an inning or half inning, one or more times (including breaks) in a hockey event, the end of one or more rounds in boxing, one or more furlongs in a horse race, such as a guided car after the start of a race The completion of one or more laps, etc.; and/or the occurrence of one or more specific events within the sporting event, such as the occurrence of the first goal scored, the occurrence of the nth goal scored, the occurrence of the team scoring, The occurrence of the first team scoring z points, etc.

Those skilled in the art will recognize that other variations of application/expiration times are possible, including any of the above variations of application/expiration times. For example, one or more of the application/expiration times provided in conjunction with the option may be a specific time of day, and the other may be a specified time during an event, such as the end of a quarter field in football. As another example, one or more of the application/expiration times provided in conjunction with the option may be before the start of the event and/or during the event.

According to a further exemplary aspect of this exemplary put-back option, the option may be provided to the bettor in conjunction with the bettor placing/betting on the event, and/or thereafter. In either case, the bettor may be required to purchase the option when the option is offered, or the bettor may be given the opportunity to purchase the option at a later time. According to one example, there may be options that are no longer available for purchase Buy set time. As discussed herein, options may be available for purchase, for example, until some set time before and/or including the start of the event, some set time after the start of the event, etc., for example. Options are available for purchase until some set time prior to the first use/expiration time provided in conjunction with the option. For example, refer to the example options discussed herein in connection with the Packers vs. Bears game until some set time before the end of the first quarter, or in other words, until the application/expiration time costing $2.50 At a set time, the option is available for purchase.

According to another example and/or additional examples, the number of options to apply/expiration time provided to a bettor may vary depending on when a bettor is offered a buy option and/or when a bettor decides to buy an option. For example, referring again to the exemplary options offered in conjunction with Packers vs. Bears games discussed herein, when a bettor places a bet on the game, the bettor may be offered a purchase along with selecting any of the four apply/expiration times Possibility of option. Assuming that the bettor declines to buy the option at that time, but decides later that he/she wants to buy the option, one, both, or three of the options to apply/expire time may no longer be available. For example, a bettor may no longer have the option to choose an apply/expiration time that costs $2.50. This can happen, for example, if the end of the first quarter is too close to the time when the bettor decides to buy the option and/or has already happened when the bettor decides to buy the option. As another example, assuming that a first bettor places a bet on a game at one time and a second bettor places a bet on the game at a later, second time, the second bettor may be provided with a higher Use less/expiration time option. For example, a first bettor may be offered all four choices, while a second bettor may be offered three, two, or only one of the choices. For example, if a first bettor places a bet before the game begins and a second bettor places a bet after the game begins (such as near and/or after the first quarter), then This can happen. Other variations are possible.

According to a further exemplary aspect of this exemplary put-back option, once a bettor has selected an exercise/expiration time and purchased the option, there may be a designation during the time period up to the selected exercise time at which the bettor can exercise the option points (eg, discrete points). For example, a bettor may be allowed to exercise options only between tactics (ie, when action in a game ceases). Alternatively, the bettor may be allowed to exercise the option at any time during the time period up to the selected exercise time. Other variations are possible. As another example, in the exercise/passage offered to the bettor for a given option Among the options offered for expiry time, one or more of the application/expiration time may have different criteria for how and/or when a bettor may exercise the option.

According to a further exemplary aspect of this exemplary put-back option, a bettor may place a wager and pay the wager amount W in cash, using an established account, points (such as coupon points), credit, or the like. Similarly, bettors may purchase options with cash, use of established accounts, points (such as coupon points), lines of credit, and the like. Similarly, the refund amount R may be paid to the bettor in the form of cash, account debits, points (such as coupon points), lines of credit, and the like. According to one example, a user may place bets, purchase options, and receive refunds in different forms: place bets with cash, purchase options with credit, and receive refunds with coupon points. According to another example, if the wager and/or option is placed in one form, the refund amount R may be required to be paid in the same form. Other variations are possible.

According to another example of this exemplary put-back option as applicable to eg football (but other sports and/or events may be applicable), in conjunction with betting/placement of a wager with wager amount W and/or thereafter, a wager may be The player presents the purchase option to clear/cancel the bet to obtain a refund amount R, which may be a defined percentage of the wager amount W. The defined percentage may be a value between 20% and 30%, such as 25%. Additionally, up to four and/or possibly more (or fewer) apply/expiration times may be presented to the bettor, each with a different price:

- Cost $A: A bettor may exercise the option to receive a $25 refund at any time up to and possibly including the end of the first quarter (eg, before the start of the second quarter).

- Cost $B: A bettor may exercise the option to receive a $25 refund at any time up to and possibly including the end of the second quarter (eg, before the start of the third quarter).

- Cost $C: A bettor may exercise the option to receive a $25 refund at any time up to and possibly including the end of the third quarter (eg, before the start of the fourth quarter).

- Cost $D: The bettor may exercise the option to receive a $25 refund at any time up to and possibly including the 2 minute warning in the fourth quarter (eg, before play begins after the 2 minute warning).

Cost A may be a cost between $2.40 and $2.60, such as $2.50, cost B may be a cost between $5.40 and $5.60, such as $5.50, and cost C may be between $8.90 and $9.10 , such as $9.00, and cost D may be a cost between $12.40 and $12.60, such as $12.50. Other variations are possible. Other costs and percentages may be used.

Each of the wagers and/or associated putback options according to this example may be made available through the use of one or more computing systems, through the use of one or more employees/agents (eg, employees/agents of a sports wagering registry) or any combination of the foregoing as similarly discussed herein for other exemplary put-back options presented to, purchased by, and/or exercised by a bettor. For example, each of the wagers and/or associated put-back options may be presented to the user via the use of systems 100 and/or 200 and/or one or more employees/agents (eg, employees/agents of a sports wagering registry). BETTER, BETTER Bought and/or used by BETTER. For example, each of the wagers and/or associated put-back options according to this example may be entirely electronic, entirely through the use of one or more employees/agents (eg, an employee/agent of a sports wagering registry) ( such as at a counter) or some combination of the foregoing presented to, purchased by, and/or utilized by a bettor. Similarly, each of the wagers and/or associated putback options according to the present example may be registered electronically (such as via use of systems 100 and/or 200 ), by one or more employees/agents (eg, sports wagers) employee/agent) or any combination of the above.

Those skilled in the art will recognize that the above-described characteristics of this exemplary option are examples only, and that other variations are possible, including applications to sports and to events other than sports.

Referring now to FIG. 9, an exemplary method 900 for providing, purchasing, and exercising options is shown. At step 902, a request to place a wager on an event can be received from a user. At step 904, the user may be presented with the option to cancel the wager in exchange for a refund amount for purchase. Presenting the option may include presenting at least a first use time and a second use time for selection by the user, the first use time having a first fee associated with the first use time and the second use time having a first fee associated with the first use time 2. A second fee associated with the use of time. The price of the option may be based on a fee associated with the time of use selected by the user. The selection of the first play time may allow the user to cancel the wager at least before the first play time in exchange for the refund amount, and the selection of the second play time may allow the user to cancel the wager at least before the second play time in exchange for the refund amount . The refund amount associated with each of the first usage time and the second usage time may be the same amount. At step 906, an indication may be received that the user is purchasing an option. While purchasing, you can also Receive the selection of the first use time and/or the second use time by the user. At step 908, an indication may be recorded (such as in/on a memory device, paper, etc.) that the user has paid for the option, the price of which is based, for example, on a fee associated with the time of use selected by the user. At step 910, an indication may be received that the user is exercising the option. A determination may then be made as to when the indication was received compared to the operating time (step 912). If the indication is received at least before the selected run time, at step 914, the wager may be cancelled in exchange for a refund amount. In the alternative, if an indication is received after the selected play time, eg, at step 916, the option may expire, the user's wager may remain as is/uncancelled, and the user may be based on the event wagered win or lose the bet on the outcome of the bet. As another alternative, the selected exercise time may elapse without the user exercising the option/not receiving an indication that the user is exercising the option. Again, at step 916, the option may expire, the user's wager may remain as-is/uncancelled, and the user may place a win or lose bet based on the outcome of the event wagered.

Referring now to FIG. 10, another exemplary method 1000 for providing, purchasing, and exercising options is shown. At step 1002, a request to place a wager on an event can be received from a user. At step 1004, the user may be presented with a plurality of options to cancel the wager in exchange for a refund amount for purchase, the plurality of options including at least a first option and a second option. A first option may have a first exercise time and a first price associated with the first option, and a second option may have a second exercise time and a second price associated with the second option. The selection of the first option may allow the user to cancel the bet in exchange for the refund amount at least before the first exercise time, and the selection of the second option may allow the user to cancel the bet at least before the second exercise time in exchange for the refund amount . The refund amount associated with each of the first option and the second option may be the same amount. At step 1006, an indication may be received that the user is purchasing at least one of the first option and the second option. At step 1008, an indication may be received that the user is exercising the purchased option. A determination may then be made as to when the indication was received compared to the exercise time associated with the purchased option (step 1010). If the indication is received at least before the exercise time associated with the purchased option, then at step 1012, the wager may be cancelled in exchange for a refund amount. In the alternative, if an indication is received after the exercise time associated with the purchased option, eg, at step 1014, the option may expire, the user's wager may remain as is/uncancelled, and use Players can bet on winning or losing bets based on the outcome of the event they are betting on. as an alternative option, the exercise time associated with the purchased option may elapse without the user exercising the option/not receiving an indication that the user is exercising the purchased option. Again, at step 1014, the option may expire, the user's wager may remain as-is/uncancelled, and the user may place a win or lose bet based on the outcome of the event wagered.

Sell-back option with multiple lifespans

According to another example of a sell-back option, in conjunction with the bettor/customer/user placing/betting on the event with the wager amount W, and/or after this, the bettor may be presented with a buy option at price P to cancel/ Opportunity to clear/sell the bet as a reward for the refund amount/refund amount/cancellation amount/cancellation amount R. According to this example, an option may have a plurality (eg, two or more) of exercise/expiration times associated with it. For example, there may be four use/expiration times (but fewer or more use times may be used), such as: a first use time X1, a second use time X2, a third use time X3, and a fourth use time X4, or In other words, there are four options for using the times X1, X2, X3 and X4. According to this example, application/expiration time X4 may follow/after application/expiration time X3, application/expiration time X3 may follow/after application/expiration time X2, and application/expiration time X2 may continue/in application/expiration time After X1, but other changes are possible. Therefore, if a bettor purchases an option, the bettor can exercise the option/cancel bet according to any of the exercise times X1, X2, X3 and/or X4. According to one aspect of this example, the price P of the option may be the same regardless of which exercise/expiration time the bettor ultimately chooses to exercise the option. According to another aspect of this exemplary option, each usage time may have a refund amount associated with that usage time, such as usage time X1 having a refund amount R1, usage time X2 having a refund amount R2, applying Time X3 has a refund amount R3, and operation time X4 has a refund amount R4. According to this example, one or more of refund amounts Rl, R2, R3, and R4 may be different, and in particular, each of refund amounts Rl, R2, R3, and R4 may be different. According to one example, R1 can be more than R2, R2 can be more than R3, and R3 can be more than R4. In other words, longer expiration periods may have smaller refund amounts. Nonetheless, other variations are possible, including that R1 is less than R2, R2 is less than R3, and R3 is less than R4. Therefore, according to this example option, given that the event being wagered has a specific duration, for example, the amount of refund a bettor receives for exercising the option is based on, for example, when the option is exercised after the event has started, or in other words , how much time is left in the match when the option is exercised.

Thus, according to this exemplary put-back option, in conjunction with placing/staking a bet and/or thereafter, the bettor may purchase an option to cancel/clear the bet for a price P. When presenting options, the bettor may also be presented with correlations such as the application/expiration times (where, eg, X1 < X2 < X3 < X4 ) associated with the option, such as the application/expiration times X1, X2, X3, and X4. joint table. For each application/expiration time, the bettor may also be presented with associated refund amounts, such as R1, R2, R3, and R4. Thus, assuming a bettor buys an option at price P, the bettor may then choose to do any (or more) of the following: Exercise the option at some time up to and/or including exercise time X1 ( thereby canceling/clearing/selling back the bet), and in return receiving a refund amount R1; exercise the option (thus canceling/ clear/sell back bets), and in return receive a refund amount R2; exercise the option (thus canceling/clearing/returning) at X2 and/or sometime after X2 and up to and/or including exercise time X3 sell the bet), and in return receive a refund amount R3; exercise the option (thus canceling/clearing/selling the bet) at X3 and/or sometime after X3 and up to and/or including the exercise time X4 , and in return receive a refund amount of R4; or ● without exercising the option, leave the bet as is and win or lose the bet based on the outcome of the event wagered.

Those skilled in the art will recognize that the above-described features of this exemplary option are examples only, and that other variations are possible, including applications to sports and to events other than sports.

As an example, a bettor may place a $100 bet on a football game, such as the Packers vs Bears game. In conjunction with placing/putting this wager and or thereafter, the bettor may be presented with the possibility to clear/cancel the wager with a purchase option for a price such as $10. The option may also include four use/expiration times, each with a different refund amount:

• Exercise Time 1: The bettor may exercise the option to receive a $25 refund at any time up to and possibly including the end of the first quarter (eg, before the start of the second quarter).

Application Time 2: The bettor may at any time at the end of the first quarter and/or after the end of the first quarter, and up to and possibly including the end of the second quarter (eg , before the start of the third quarter) to exercise the option to receive a $20 refund.

Application Time 3: The bettor may at any time at the end of the second quarter and/or after the end of the second quarter, and up to and possibly including the end of the third quarter (eg , before the start of the fourth quarter) to exercise the option to receive a $15 refund.

Application Time 4: Bettors may at the end of the third quarter and/or after the end of the third quarter and up to and possibly including the 2 minute warning in the fourth quarter Exercise the option at any time (eg, before starting the game after a 2 minute warning) to receive a $10 refund.

Turning to a further exemplary aspect of this exemplary put-back option, the refund/cancellation amount that may be offered to a bettor for each exercise/expiration time of a given option and that the bettor may subsequently receive upon exercising the option R may be a predetermined amount. In other words, when an offer to buy an option is made to the bettor/while the bettor is considering a buy option, the refund amount can be determined and communicated to the bettor so that if the bettor buys the option and later decides to use the option option, the bettor can know the amount of refund he/she will receive based on when the option is exercised. The refund amount may be the guaranteed amount.

As similarly discussed herein, one or more of the refund amounts for each of the associated play times of a given option may be set/constant amounts that may be related to the amount W wagered (eg, each refund The payout amount may be a set percentage of the wager amount R), may be related to the payout/potential payout on the wager, may vary depending on when the option is exercised, may or may not be available across the same type and/or different types of games/events change, etc., or any combination of the above. Again, if the refund amount is related to the wager amount and/or payout, a cap amount may be used, as similarly discussed herein. As also discussed herein, if the wager amount and/or payout is too large, and/or unless the wager amount and/or payout have a minimum size, the putback option according to this example may not be available to the bettor. Other variations are possible.

As similarly discussed herein, regardless of the wager/amount wagered, and/or regardless of the payouts/potential estimated payouts that the bettor may certainly win, the Prices can be set/constant amounts. Therefore, each bettor can be presented with same price. Sports wagering registries may, for example, set prices. According to another example and/or additional examples, it may be based on the wagered amount of the bet associated with the option and/or according to the payout/potential estimated payout that the bettor will definitely win for the bet associated with the option Determine the price. Again, if the price is related to the wager amount and/or payout, a cap amount may be used, as similarly discussed herein. As another example and/or additional example, prices may vary depending on when options are purchased by bettors, may or may not vary across games/events of the same type and/or different types, etc., or any of the above combination. Other variations are possible.

As similarly discussed herein, according to this example, the exercise/expiration time for a given option may be defined in various ways, including defining one or more exercise times in different ways. For example, one or more of the exercise/expiration times associated with the option may be a specific time of day, and the other may be a specified time during an event, such as the end of a quarter field in football. As another example, one or more of the application/expiration times may be before and/or during the event the option is associated with the event. Other variations are possible.

According to a further exemplary aspect of this exemplary put-back option, a wager may be placed/bet on an event in conjunction with the bettor, and/or thereafter, the option may be provided to the bettor. In either case, the bettor may be required to purchase the option when the option is offered, or the bettor may be given the opportunity to purchase the option at a later time. According to one example, there may be a set time when the option is no longer available for purchase. As discussed herein, options may be available for purchase, for example, up to a certain time before and/or including the start of the event, some set time after the start of the event, etc., for example. The option is available for purchase until some time before the first use/expiration time provided in conjunction with the option. Other variations are possible.

According to another example and/or additional examples, the number of exercise/expiration times associated with an option may vary/change depending on when the bettor is offered to buy the option and/or when the bettor decides to buy the option . For example, referring again to the exemplary options provided in connection with the Packers vs. Bears game discussed herein, when a bettor places a bet on the game, the bettor may be provided with the possibility to purchase the option and four exercise/expiration times . Assuming the bettor declines to buy the option at that time, but decides later that he/she wants to buy the option, one, both, or both of the exercise/expiration times may no longer be associated with the option. For example, the option may no longer include "Use Time 1". For example, if the bettor decides to buy the option, too close to the first This can happen after the end of the quarter and/or the end of the first quarter has occurred. As another example, assuming a first bettor places a bet on a game at one time and a second bettor places a bet on the game at a second later time, the second bettor may be provided with a Option of less usage/expiration time. For example, a first bettor may be given the option to have all four apply/expiration times, while a second bettor may be given the option to have three, two or only one of the apply/expiration times. For example, if a first bettor places a bet before the game begins and a second bettor places a bet after the game begins (such as near and/or after the first quarter), then This can happen. Other variations are possible.

According to a further exemplary aspect of this exemplary put-back option, once a bettor has purchased the option, there may be specified points (eg, discrete points) during the time period until each exercise time that the bettor can exercise the option ). For example, a bettor may be allowed to exercise options only between tactics (ie, when action in a game ceases). Alternatively, the bettor may be allowed to exercise the option at any time during the time period up to the exercise time. Other variations are possible. As another example, one or more of the exercise/expiration times associated with an option may have different criteria as to how and/or when a bettor may exercise the option.

Each of the wagers and/or associated putback options according to this example may be made available through the use of one or more computing systems, through the use of one or more employees/agents (eg, employees/agents of a sports wagering registry) or any combination of the foregoing as similarly discussed herein for other exemplary put-back options presented to, purchased by, and/or exercised by a bettor. For example, each of the wagers and/or associated putback options may be presented to the user via the use of systems 100 and/or 200 and/or one or more employees/agents (eg, employees/agents of a sports wagering registry). BETTER, BETTER Bought and/or used by BETTER. For example, each of the wagers and/or associated put-back options according to this example may be entirely electronic, entirely through the use of one or more employees/agents (eg, an employee/agent of a sports wagering registry) ( such as at a counter) or some combination of the foregoing presented to, purchased by, and/or utilized by a bettor. Similarly, each of the wagers and/or associated putback options according to the present example may be registered electronically (such as via use of systems 100 and/or 200 ), by one or more employees/agents (eg, sports wagers) employee/agent) or any combination of the above.

Referring now to FIG. 11, an exemplary method 1100 for providing, purchasing, and exercising options is shown. At step 1102, a request to place a wager on an event may be received from a user. At step 1104, the user may be presented with an option to cancel the wager for purchase at a price. The option may include a plurality of use times, and the plurality of use times include at least a first use time and a second use time. The first usage time may have a first refund amount associated with the first usage time and the second usage time may have a second refund amount associated with the second usage time. The second use time may follow the first use time. The option may allow the user to cancel the bet in exchange for the first refund amount before and/or at the first exercise time, and/or at the first exercise time and/or after the first exercise time and Cancel the wager before and/or at the second exercise time in exchange for the second refund amount. At step 1106, an indication may be received that the user is purchasing an option. At step 1108, an indication may be received that the user is exercising the option. A determination may then be made as to when the indication was received compared to the exercise time associated with the option (step 1110). If the indication is received before and/or at the first exercise time associated with the option, then at step 1112, the wager may be cancelled in exchange for the first refund amount. If the indication is received at and/or after the first exercise time and before and/or at the second exercise time associated with the option, then at step 1114, the cancellation may be wager in exchange for a second refund amount. In the alternative, if the indication is received at and/or after the second exercise time associated with the option, then at step 1116 the option may expire and the user's wager may remain as is / is not cancelled, and the user may win or lose bets based on the outcome of the event being wagered. As another alternative, all exercise time associated with the option may elapse without the user exercising the option/not receiving an indication that the user is exercising the option. Again, at step 1116, the option may expire, the user's wager may remain as is/uncancelled, and the user may place a win or lose bet based on the outcome of the event wagered.

option restrictions

According to another exemplary aspect of any of the putback options discussed herein, for example, if a bettor purchases an option and subsequently decides to exercise the option, the bettor may be required to use all or at least the refund amount A defined portion (which may be set, for example, by a sports bet registry) to place another bet or bets. According to one example, when placing a new bet, the bettor may not be allowed to combine the refund amount with the bettor's additional funds (eg, cash, point amount Wait). According to another example and/or additional examples, the bettor may be allowed to combine the refund amount with the bettor's additional funds (eg, cash, point amount, etc.) when placing a new wager. The bettor may be informed of this restriction when presented with an opportunity to purchase an option and/or when the bettor is in the process of purchasing an option.

According to one example, when a bettor exercises an option, the bettor may be required to immediately place one or more new wagers using the refund amount (or a defined portion of the refund amount). For example, if options are exercised electronically as discussed herein, the bettor may be presented with an interface for placing one or more new bets. If the option is exercised through an employee/agent (eg, an employee/agent of a sports wagering registry), the employee/agent may require the bettor to place another bet(s).

According to another example and/or additional examples, the bettor may not be required to immediately use the refund amount (or a defined portion of the refund amount) to place one or more new wagers when the bettor exercises the option. Instead, the bettor may be given an unlimited amount of time to use the refund amount (or a defined portion of the refund amount) to place one or more new wagers. As another example and/or additional example, a bettor may be given a time limit to use the refund amount (or a defined portion of the refund amount) to place one or more new wagers. If the bettor does not place a new bet when that time comes, the bettor may forfeit/forfeit the refund. As another example, a bettor may be given until a particular event to place one or more new wagers using the refund amount (or a defined portion of the refund amount). If the bettor does not place a new bet when the event arrives, the bettor may lose/lose the refund. For example, if a bettor exercises an option at halftime in a football game, the bettor may have to place new bets until the end of the game. Other events are possible.

As another example, a bettor may be given a gradual time/event schedule to use the refund amount. For example, given that the bettor may be required to place one or more new bets using the full refund amount, the bettor may have the full refund amount available for the new bet until time T1. After T1, the bettor may lose a defined percentage/portion of the refund amount, and the remaining refund amount must be used until a later time T2. After T2, the bettor may lose another defined percentage/portion of the refund amount, and the remaining refund amount must be used until a later time T3, and so on. As an example, if the bettor did not wager a defined portion prior to the trigger, the bettor may only lose a portion of the refund amount at each time/event transition. According to another example, the bettor may lose a portion of the refund amount on each trigger, regardless of what the bettor has wagered so far. Other variations are possible. As an example, suppose the bettor has a refund amount of $10 and at T1, Losing 25% of the refund amount at each of T2, etc., the bettor may have $10 to spend on a new wager until time T1. If the bettor fails to place a new bet when T1 comes, the bettor now has $7.50 from T1 to T2 to place one or more new bets, and so on.

As another example and/or additional example, once the bettor decides to place one or more new bets with the refund amount, the bettor may be required to wager/use the full refund amount on the one or more bets at that time. As another example and/or additional example, given that a bettor may be given a set amount of time and/or until a defined event using the refund amount occurs, once the bettor decides to place one or more new bets using the refund amount, the bettor may The bettor is required to place/use the full refund amount on one or more bets at that time. As another example and/or additional example, a bettor may be allowed to place a wager with the refund amount at any time prior to a set time/defined event.

According to another exemplary aspect of any of the putback options discussed herein, a bettor may only be able to exercise a purchased option if the bettor wins the wager associated with the option. Alternatively, the bettor may only be able to exercise the purchased option if the bettor loses the wager associated with the option.

Referring now to FIG. 12, an exemplary method 1200 for providing, purchasing, and exercising options is shown. At step 1202, a request to place a wager on an event may be received from a user. At step 1204, the user may be presented with an option to cancel the wager for purchase at a price. At step 1206, an indication may be received that the user is purchasing an option. At step 1208, an indication may be received that the user is exercising the option. At step 1210, in response to the user exercising the option, the bet may be cancelled in exchange for a refund amount. The user may be required to place another wager using at least a portion of the refund amount.

Figure 13 is yet another flow chart showing a process for cashing out a bet.

In block 1302, a plurality of wagers on the outcome may be received, eg, via a server, eg, by a casino operator entity. A plurality of wagers may include one or more wagers that a particular outcome will occur. In some embodiments, the plurality of wagers may also include one or more wagers that contradict a particular outcome. The plurality of wagers may include a wager registry for wagers on events.

In some embodiments, an option to cash out a bet prior to parsing the bet may also be received (eg, a bettor may purchase such an option as described herein).

In block 1304, the parsing wagering result may be received, eg, from the user/bettor A request to cash out one of the bets before the outcome (eg, before the end of the game). The request may be received by an entity associated with the casino operator.

In some embodiments, the request may be received in conjunction with a bettor's previously purchased option to cash out a bet. In some embodiments, the request may be received in response to an invitation to request a cashout. In some embodiments, an invitation to cash out a bet may be provided to a bettor who holds a bet that tends to unbalance the bet register placed on the bet.

In block 1306, a cash-out amount may be calculated for the user's wager based, at least in part, on risk management information associated with the plurality of wagers.

In block 1308, the user's bet may be cashed out by paying the user the cash-out amount and withdrawing (or canceling, etc.) the user's bet prior to parsing the results.

It should be understood that the communications described herein may be via a computer interface, such as a touch screen. For example, the user's screen may display indicia indicating cash-out opportunities, including, for example, a calculated cash-out price. The user can request a cashout by pressing a button on the touch screen. A cashout confirmation can be displayed on the screen.

Figure 14 is yet another flowchart showing a process for cashing out a bet.

In block 1402, a request to place a wager on an event may be received from a user, eg, by a server associated with the casino operator.

In block 1404, the user may be presented with the option to cancel the wager for purchase.

In block 1406, an indication may be received that the user is purchasing an option.

In block 1408, an indication that the user is exercising the option may be received, eg, by a server.

In block 14010, a refund (or sell-back) amount may be calculated for the option based at least in part on risk management information regarding the plurality of wagers placed on the event.

In block 1412, the wager may be cancelled (eg, or withdrawn or voided, etc.) in exchange for the calculated refund amount.

The above description of illustrated embodiments, including what is described in the Abstract, is not intended to be exhaustive or to limit the embodiments to the precise form disclosed. While specific embodiments and examples are described herein for illustrative purposes, further improvements may be made without departing from the spirit and scope of this disclosure. Various equivalent modifications are made, as those skilled in the relevant art will recognize. The teachings of the various embodiments provided herein may be applied to other systems that are not necessarily the exemplary sports wager registry wagering computer system described above. In some embodiments, one or more of the payment computer system and the sports wager registry wagering computer system may be one system or controlled by one entity. Additionally, in some embodiments, the features and functionality described above may be implemented on a stand-alone system.

For example, the foregoing detailed description has illustrated various embodiments of devices and/or processes using block diagrams, schematic diagrams, and examples. To the extent such block diagrams, diagrams, and examples contain one or more functions and/or operations, those skilled in the art will understand that each function and/or operation within such block diagrams, flowcharts, and examples may be Implemented individually and/or collectively by a wide range of hardware, software, firmware, or virtually any combination of the foregoing. In one embodiment, the subject matter of the present invention may be implemented via an application specific integrated circuit (ASIC). However, those skilled in the art will recognize that all or part of the embodiments disclosed herein may be equivalently implemented in standard integrated circuits as one or more computer programs (eg, one or more computer programs) running on one or more computers. implemented as one or more programs running on one or more computer systems), implemented as one or more programs running on one or more controllers (eg, microcontrollers), implemented as one or more One or more programs running on a processor (eg, a microprocessor), implemented as firmware, or indeed any combination of the foregoing, and in accordance with the present disclosure, design circuits and/or as software and Or firmware coding would be well within the skill of those of ordinary skill in the art.

Additionally, those skilled in the art will appreciate that the mechanisms taught herein can be distributed as various forms of program products, and that the illustrative embodiments are equally applicable regardless of the particular type of signal-bearing medium used to actually perform the distribution. Examples of signal bearing media include, but are not limited to, the following: recordable type media such as portable discs and memory, hard disk drives, DVDs, CD ROMs, digital tapes, and computer memory; and other non-transitory Computer-readable storage medium.

The various embodiments described above may be combined to provide further embodiments.

These and other changes can be made to the embodiments in light of the above detailed description. In general, in the following claims, the terms used should not be construed to limit the claims to the specific embodiments disclosed in the specification and the claims, but should be construed to include all possible embodiments and the like the full scope of equivalents, this claimed scope enjoys the full scope of such equivalents right. Therefore, the scope of the patent application is not limited by this disclosure.

300: User Interface

302,308: User Interface Items

312, 314: Icon or button

316: Printing and Retrieval Components

Claims (9)

A method for a wager put-back option, comprising: by at least one processor of a server in network communication with a plurality of computers configured to receive and send data indicative of wagers, through a communication network, from a the first remote device receives a request to place at least one wager on an outcome of an event and purchases a request to receive a refund amount in exchange for an option to cancel one of the at least one wager at the same time the at least one wager is placed, wherein the option is associated with a first use time with a first fee and a second use time with a second fee, wherein the second use time is one of before or after the first use time or; after receiving the request to place the at least one wager and before any determination that the at least one wager is a wager winning wager or a wager losing wager, by the at least one processor, based on the at least one wager for the wager a current chance of winning a wager and risk management information associated with the at least one wager to calculate the refund amount for the at least one wager, wherein calculating the refund amount includes based at least in part on the occurrence of the outcome due to the payout pair A total potential liability amount associated with the payout of the at least one bet winning bet to calculate the refund amount; after receiving the request to place the at least one bet and the at least one bet is the bet winning bet or the bet losing prior to any determination of the wager, through the communication network, by the at least one processor, causing a graphical user interface of an electronic display device of the first remote device to present a representation of receipt of the refund amount in exchange for canceling the at least one an indicia for the option of a wager, wherein causing the graphical user interface to present the indicia representing the option includes causing the graphical user interface to present at least the first use time with the first fee and with the second fee the second time of use for selection; after receiving the request to place the at least one wager and the at least one wager is a winning wager for the wager The first remote device is using to receive the refund amount in exchange for canceling the at least one by the at least one processor from the first remote device receiving over the communication network prior to any determination of the bet or the bet losing bet. an indication of the option of a wager, wherein the indication indicates a choice of the first exercise time or the second exercise time, the choice indicating the purchase of the option; determining, by the at least one processor, the first far whether the terminal device used the option before the first use time or the second use time; in response to determining that the first remote device used the option before the first use time or the second use time, automatically canceling, by the at least one processor, the at least one wager in exchange for the refund amount; and sending, by the at least one processor through the communication network, an electronic signal to cause physical distribution at a second remote device of a At least one of the voucher or an item amount shall be the refund amount. The method of claim 1, wherein calculating, by the at least one processor, the refund amount comprises comparing (i) the total potential liability amount associated with paying a payout for a winning wager resulting from the occurrence of the outcome and ( ii) A total potential benefit amount associated with the losing bet resulting from the occurrence of the outcome. The method of claim 1, wherein the first remote device is given a time limit to use at least a portion of the refund amount to place another wager or forfeit the portion of the refund amount. The method of claim 1, further comprising: in response to the first remote device exercising the option, presenting the graphical user interface for the first remote device by the at least one processor through the communication network, to use at least a portion of the refund amount to place another wager. The method of claim 1, wherein the refund amount is calculated by the at least one processor Consists of: determining that (i) a potential total payout liability that occurs in response to a particular wager outcome exceeds (ii) a potential total payout against losing wagers that occurs in response to that particular wager outcome. The method of claim 1, wherein the refund amount is increased for a given wager of the at least one wager that would result in a more balanced wager registration. The method of claim 1, wherein the refund amount is reduced for a given wager of the at least one wager that would result in an unbalanced wager registration. An apparatus for wagering putback options, comprising: at least one processor of an electronic computer system including a server in networked communication with a plurality of computers configured to receive and transmit wager-indicative data and at least one memory in electronic communication with the at least one processor, the at least one memory having stored thereon instructions that, when executed by the at least one processor, direct the at least one processor to: a communication network, one of receiving a request from a first remote device to place at least one wager on an outcome of an event and purchasing a refund amount in exchange for canceling the at least one wager at the same time as the at least one wager is placed A request for an option, wherein the option is associated with a first use time with a first fee and a second use time with a second fee, wherein the second use time is at the first use time Either before or after; after receiving the request to place the at least one bet and before any determination that the at least one bet is a bet win or a lose bet, based on the at least one bet will be a win for the bet The current odds of one of the bets and the risk management information associated with the at least one bet to calculate the at least one bet the refund amount, wherein calculating the refund amount includes calculating the refund amount based at least in part on a total potential liability amount associated with a wager that results from paying a winning wager; after receiving the request to place the at least one wager and the At least one of the bets is caused by the communication network at a graphical user interface of an electronic display device of the first remote device to the first remote The device presents an indicia indicating receipt of the refund amount in exchange for the option to cancel the at least one wager, wherein causing the graphical user interface to present the indicia indicating the option includes causing the graphical user interface to present at least the option with the first The first time of use of a fee and the second time of use with the second fee for selection; after receiving the request to place the at least one bet and the at least one bet is the bet win bet or the bet lose bet receiving, via the communication network, an indication from the first remote device that the first remote device is using to receive the refund amount in exchange for the option to cancel the at least one wager, wherein the indication indicates that prior to any determination of A selection of the first use time or the second use time, the selection indicating the purchase of the option; determining whether the first remote device used the option before the first use time or the second use time ; in response to determining that the first remote device exercised the option before the first time of use or the second time of use, automatically canceling the at least one wager in exchange for the refund amount; and sending an electronic The signal is caused to physically distribute at least one of a voucher or an amount as the refund amount at a second remote device. A non-transitory computer-readable medium having stored thereon instructions, when the instructions are executed by at least one of a server comprising a plurality of computers in networked communication with a plurality of computers configured to receive and send data indicative of wagers When executed, at least one processor of a computer system instructs the at least one processor to perform the following operations: receive a request to place at least one wager on an outcome of an event from a first remote device via a communication network and place a bet on the result of an event. The same time purchase of the at least one wager receives a refund amount in exchange for a request to cancel an option of the at least one wager, wherein the option is associated with a first time of use having a first fee and having a second associated with a second application time of the fee, wherein the second application time is one of before or after the first application time; after receiving the request to place the at least one wager and the at least one wager is a wager Calculate the refund amount for the at least one bet based on a current probability that the at least one bet will win the bet and risk management information associated with the at least one bet prior to any determination of a winning bet or a losing bet , wherein calculating the refund amount comprises calculating the refund amount based at least in part on a total potential liability amount associated with paying a payout of a winning wager in the event in which the outcome occurred; After the request and before any determination that the at least one wager is the winning wager or the wagering loser, cause, through the communications network, at a graphical user interface of an electronic display device of the first remote device, to the The first remote device presents an indicia representing receipt of the refund amount in exchange for the option to cancel the at least one wager, wherein causing the graphical user interface to present the indicia representing the option includes causing the graphical user interface to present at least the first play time with the first fee and the second play time with the second fee for selection; after receiving the request to place the at least one wager and the at least one wager for the wager win wager or receiving, via the communication network, an indication from the first remote device that the first remote device is using to receive the refund amount in exchange for the option to cancel the at least one wager, prior to any determination of the bet losing bet, wherein the indication indicates a selection of the first operating time or the second operating time, the selection referring to purchasing the option; determining whether the first remote device used the option before the first use time or the second use time; in response to determining whether the first remote device used the option at the first use time or Exercising the option before the second use time automatically cancels the at least wager in exchange for the refund amount; and sends an electronic signal through the communication network to cause physical distribution of a voucher or item at a second remote device At least one of the amounts shall be the refund amount.

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