WO2017006329A1

WO2017006329A1 - A system and method for playing binary tournaments

Info

Publication number: WO2017006329A1
Application number: PCT/IL2016/050730
Authority: WO
Inventors: Shimon CITRON
Original assignee: Citron Shimon
Priority date: 2015-07-09
Filing date: 2016-07-07
Publication date: 2017-01-12

Abstract

A system for running a real-time strategic game of chance, which and are based on participants who play against each other in real-time, which comprises a plurality of terminal devices, via which the participants connect to a gaming server over a data network and a gaming server connected to the terminal devices over the data network. The gaming server is adapted to establish a virtual real-time binary options gaming arena, in which each game consists of a tournament with time limited rounds; allow each participant to purchase a similar amount of virtual currency; allow each participant to select a tournament, using his terminal device; display to each participant the time left for submitting a bet in a current round, such that each participant can or cannot see bets submitted by other participants. Upon submitting bets, at the end of the current round, the gaming server displays the results for the current round, to all participants, on their terminal device. During each round each participant bets on any amount, using his terminal device. All participants submit bets for the next round, while allocating an identical limited time period to each participant, during which he will be able to put a bet for the next round. The winning participant in the game is the one that gains the highest amount at the end of the last round.

Description

A SYSTEM AND METHOD FOR PLAYING BINAEY TOURNAMENTS

Field of the Invention

The present invention relates to the field of games of strategy and chance. More particularly, the invention relates to a method for running a game of strategy and chance, in which the winning criteria is associated with buying binary options.

Background of the Invention

Games of chance are widespread in many countries all over the world, as a means for collecting money from the public, for instance, for educational, sports and health purposes. Many of the existing games of chance are conducted online via a data network (such as the internet), where participants use the browser installed on their terminal devices (such as desktop computers, laptops and smartphones) to reach a website which is a platform for running the game, collecting money from participants (participating users of connected terminal devices) and paying rewards to winning participants. However, these existing games almost do not involve strategy and considerations of what are the steps taken by other participating users.

WO 2014/145575 discloses method and system for providing an online membership gaming service where sportsbook and exchange players are members of a social media community and platform where they may bet on the outcomes of sporting events without the risk of losing their own money. The method comprises receiving entries into one or more sports book and exchange contests from a plurality of subscription members. A betting fund is distributed to each of the subscription members and the amount distributed is based on a predetermined amount associated with the one or more sports book and exchange contests and/or membership level. Bets are received from the plurality of subscription members. One or more winners of the one or more sports book and exchange contests are determined based on a total amount of the betting fund of each of the plurality of subscription members based on one or more outcomes of the bets. However, this platform does not involve online considerations of what are the steps taken by other participating users and is limited to sportsbooks.

It is therefore an object of the present invention to provide a platform for running a game of strategy and chance, in which the winning criteria is associated with buying binary options and based on the outcome of actual steps taken by a plurality of participants.

It is another object of the present invention to provide a platform for running a game of strategy and chance, in in the form of a tournament.

Other objects and advantages of the invention will become apparent as the description proceeds.

Summary of the Invention

The present invention is directed to a method for running a real-time strategic game of chance, which and are based on participants who play against each other in real-time, comprising the steps of

a) establishing a virtual real-time binary options gaming arena, in which each game consists of a tournament with time limited rounds!

b) allowing each participant to purchase a similar amount of virtual currency!

c) following registration and depositing the required amount, allowing each participant to select a tournament; d) displaying to each participant the time left for submitting a bet in a current round, such that while submitting the bet, each participant can see bets submitted by other participants for a predetermined time period, ranging between zero and the entire period of said current round;

e) upon submitting bets, all participants await the end of the current round, after which the results for the current round are displayed to all participants;

f) during each round, allowing each participant to bet on any amount, where the chance the participant takes in whether or not an actual measure is above or below a nominal value, determined at the beginning of each round;

g) allowing all participants to submit bets for the next round, while allocating an identical limited time period to each participant, during which he will be able to put a bet for the next round; and h) determining that the winning participant in the game is the one that gains the highest amount at the end of the last round.

The game may be an online multi-participants game in the form of one or more tournaments.

Each participant may buy virtual currency for real money, with a predetermined exchange rate.

Virtual players may be added whenever the number of participants is insufficient.

The selectable options may be long run or short run binary options. The actual measure may correspond to the value of an asset. Virtual assets may be introduced whenever there is no actual asset trading.

Each participant may change his bet during each round, independent of bets of other participants.

The winning participant in each round may win all bets of the remaining participants.

A popup message may be displayed to each participant, including basic rules for the game.

Each participant may participate in several concurrent tournaments.

A tournament may be ranked, such that more than one winning participant from each group will move to the next round, until the final stage of a last tournament.

The gaming platform may be adapted to operate via a social network.

The present invention is also directed to a system for running a real-time strategic game of chance, based on participants who play against each other in real-time, which comprises :

a) a website, to which participants connect via their terminal devices, for establishing a virtual real-time binary options gaming arena, in which each game consists of a tournament with time limited rounds!

b) a software module for allowing each participant to purchase a similar amount of virtual currency! c) a software module for allowing each participant to select a tournament, following registration and depositing the required amount,;

d) a software module for displaying to each participant, on his terminal device (such as a desktop computer, a laptop computer, a smartphone or a tablet), the time left for submitting a bet in a current round, such that while submitting the bet, each participant can see bets submitted by other participants for a predetermined time period, ranging between zero and the entire period of said current round;

e) a gaming module, for:

e. l) displaying the results for the current round to all participants, upon submitting bets and after all participants await the end of the current round,;

e.2) during each round, allowing each participant to bet on any amount, where the chance the participant takes in whether or not an actual measure is above or below a nominal value, determined at the beginning of each round;

e.3) allowing all participants to submit bets for the next round, while allocating an identical limited time period to each participant, during which he will be able to put a bet for the next round; and

e.4) determining that the winning participant in the game is the one that gains the highest amount at the end of the last round.

The present invention is also directed to a system for running a real-time strategic game of chance, which and are based on participants who play against each other in real-time, the system comprises^

a) a plurality of terminal devices, via which the participants connect to a gaming server over a data network; b) a gaming server connected to the plurality of terminal devices over the data network, the gaming server is adapted to:

c) establish a virtual real-time binary options gaming arena, in which each game consists of a tournament with time limited rounds!

d) allow each participant to purchase, using his terminal device, a similar amount of virtual currency!

e) following registration and depositing the required amount, allow each participant to select a tournament, using his terminal device;

f) display to each participant, via his terminal device, the time left for submitting a bet in a current round, such that while submitting the bet, each participant can see bets submitted by other participants for a predetermined time period, ranging between zero and the entire period of said current round;

g) upon submitting bets, at the end of the current round, display the results for the current round, to all participants, on their terminal device,;

h) during each round, allow each participant to bet on any amount, using his terminal device, where the chance the participant takes in whether or not an actual measure is above or below a nominal value, determined at the beginning of each round;

i) allow all participants to submit, using their terminal devices, bets for the next round, while allocating an identical limited time period to each participant, during which he will be able to put a bet for the next round; and

j) determine that the winning participant in the game is the one that gains the highest amount at the end of the last round.

During the game, each terminal device may browse a web application residing on the gaming server. Alternatively, each terminal device may comprise a client application installed thereon, such that upon activating the client application by a participant, the terminal device automatically connects to the gaming server and during the game, part of the tasks are carried out by the client application, while the remaining tasks are carried out by the gaming server.

Brief Description of the Drawings

The above and other characteristics and advantages of the invention will be better understood through the following illustrative and non -limitative detailed description of preferred embodiments thereof, with reference to the appended drawings, wherein:

Fig. 1 illustrates a possible implementation of the system proposed by the present invention;

Fig. 2 is a flowchart of the process performed while running a game, by the system proposed by the present invention; Fig. 3 illustrates an example of the display screen rendered by the platform during a game, according to an embodiment of the invention; and

Fig. 4 illustrates the same example of the display screen rendered by the platform during a game, where the dynamic graph is spread over the entire period allocated to round 2.

Detailed Description of Preferred Embodiments

The platform (and system) for running a game of strategy and chance in real-time, proposed by the present invention allows conducting an online multi-participants game in the form of a tournament, which involves a high level of strategic planning. The platform establishes a virtual real^¬ time binary options gaming arena, while allowing creation and management different types of games and tournaments. All games and tournaments are based on participants who play against each other in real-time.

Fig. 1 illustrates a possible implementation of the system proposed by the present invention. The system 10 includes a gaming server 11 and a plurality of participants, where each participant communicates with the game server 11 over a data network 12 (such as the internet) via his terminal device 9 (which may be a computer, a smartphone, a tablet, a laptop etc.). The gaming server 11 includes a software module for running the platform and a user interface which is displayed on the display of the terminal device 9 of each participant (who is a participating user of the terminal device 9). The gaming server 11 continuously displays a gaming screen to each participant and receives data which the participant inputs during the game.

Each participant purchases a similar amount of virtual currency (which he buys for real money with a predetermined exchange rate). The game consists of time limited rounds, such that during each round, each participant is free to bet on any amount, where the chance he takes in whether or not an actual measure (normally corresponding to the value of an asset, such as a currency exchange rate or the values of a real stock market share, which are read online from real-world stock global markets) is above or below a predetermined nominal value (at the beginning of each round), in the form of long run or short run binary options. The winning participant in each round will win all bets of the remaining participants. The winning participant in the entire game will be the one that gains the highest amount at the end of the last round. In case of equal gain, the prize will be divided equally between several winning participants. Since during the period when bet submissions are still possible the participants can see the bets submitted by others for a predetermined time period, ranging between zero and the entire period of said current round, each participant should enhance his strategic skills in order to better understand the trends of the available binary options.

The platform will be able to run concurrent tournaments which will be automatically established. In case when the number of participants will not be sufficient, virtual players will be added by the gaming server 11. In case when there will be no actual trading, virtual assets will be introduced by the gaming server 11.

During each round, each participant will be able to change his bet, independent of bets of other participants, while allocating an identical limited time period to each participant, during which he will be able to put a bet for the subsequent round.

Each participant will be asked by the gaming server 11 to select a tournament and after registration and depositing the required amount, the platform (system) will send him alerts regarding the time left until the game starts.

The system will be able to display a popup message to each participant, which will include basic rules for the game, such as the bet amount, the number of rounds in the current tournament and their duration.

Each participant will be allowed to participate in concurrent tournaments.

The platform will include a virtual stopper that will display to each participant the time left for putting a bet in a current round. While submitting a bet, each participant can see bets submitted by other participants for a predetermined time period, ranging between zero and the entire period of said current round. Upon submitting a bet, the participant awaits the end of the current round, after which he receives the results and moves to the bet submission stage of the next round.

If a participant has not submitted a bet within the time limit set for submission, he will be charged (as a default) for the same bet initially submitted when he joined the game.

Each tournament may include a single game, according to which only one player wins and all others lose. Alternatively, a tournament may be ranked, where more than one winning participant from each group (table) will move to the next round, until the final stage of a last tournament. In this case, the number of winning participants will be reduced from round to round, such that winning participants who win less will be omitted.

Example-

According to the invention, the registration process (to become a participant) requires filling a form and approving the email address, followed by creating an account (of real currency or virtual equivalent currency). An example of the process performed while running a game is illustrated in the flowchart of Fig. 2.

Each participant may establish a game (at step 201) by selecting the type of binary option for betting, determining the number of rounds, the period of the game, the bet amount and the prize level for that bet. After a game is established by the initiating participant, at the next step 202 he waits for other participants to join the game, or send them invitations to join. At the next step 203, each participant that joins the game (on that "table" or gaming arena) gets a similar amount of money. Upon exceeding a predetermined (and minimal) number of participants, the gaming server 11 starts the game by displaying at the next step 204 the binary option selected by each participant (on the display screen of each participant) and the time left until the first round starts (e.g., 15 sec), which is the "betting time". At the next step 205, each participant is required to select his option trend and to submit his bet within the betting time of each round. If the participant did not submit his bet within the betting time, at the next step 206 the system will automatically submit a default bet for him, in order to allow him remaining in the game. Once the first round begins, a real-time dynamic graph (showing the current value) is displayed at the next step 207, such that each participant may see if his bet that corresponds to the trend he selected was right or wrong. At the end of the first round, the winner will be the participant that got the highest profit. Then, at the next step 208, the system will start displaying the betting time for the next round. This process is repeated until the end of the last round of the game and the winner in the entire game will be the participant that got the total highest profit along all rounds.

In order to win the game, each participant is required to make the best bets within the time limits. For example, a participant can submit several minimal bets during the initial rounds, so as to evaluate what other participants did, and substantially increase his bet at the last round. This allows enhancing the strategy factor in the game, since at the time of submitting a bet the participant can see the actual bets of other participants for a predetermined time period, ranging between zero and the entire period of said current round - only to evaluate their moves. Each participant should plan his strategy from the first round.

Each participant will be allowed to leave the game after it starts, such that the system will continue to play for that participant while submitting default bets for him during each round, until the end of the game, for maintaining his chances to win the highest prize or a part thereof.

In case when the platform will be adapted to operate via a social network, he will be able to invite favorable participants among his friends over the social network.

Fig. 3 illustrates an example of the display screen rendered by the platform during a game, according to an embodiment of the invention. The display 10 includes a real-time dynamic graph 11 which shows a round out of 5 rounds. The round starts at 17^42Ό8 and ends at 17^42:56 (i.e., 48 sec long), and the participant called Hans elected the "call" option of 456 for submitting a bet for that round. The stock value at the starting point is depicted by a green dot 12 which corresponds to a value of 456. The online dynamic value is depicted by a blue dot 13.

Fig. 4 illustrates the same example of the display screen rendered by the platform during a game, where the dynamic graph is spread over the entire period allocated to round 2. In this round, Hans was the winner and won€ 180.

It should be noted that the system proposed by the present invention can run the real-time strategic game of chance solely by gaming server 11, while each terminal device 9 browses a web application residing on gaming server 11. Alternatively, a client-server scheme can be used, according to which a client application is installed on each terminal device 9, such that upon activating the client application, the terminal device automatically connects to the gaming server 11 and part of the tasks (such as processing inputs/outputs and displaying a user interface) are made by a client application which is installed on each terminal device 9. The remaining tasks will be carried out by the gaming server 11.

The above examples and description have of course been provided only for the purpose of illustrations, and are not intended to limit the invention in any way. As will be appreciated by the skilled person, the invention can be carried out in a great variety of ways, employing more than one technique from those described above, including the internet, a cellular network or any other wireless data network, all without exceeding the scope of the invention.

Claims

1. A method for running a real-time strategic game of chance, which and are based on participants who play against each other in real^¬ time, comprising:

b) allowing each participant to purchase a similar amount of virtual currency!

c) following registration and depositing the required amount, allowing each participant to select a tournament;

d) displaying to each participant the time left for submitting a bet in a current round, such that while submitting said bet, each participant can see bets submitted by other participants for a predetermined time period, ranging between zero and the entire period of said current round;

e) upon submitting bets, all participants await the end of the current round, after which the results for said current round are displayed to all participants;

f) during each round, allowing each participant to bet on any amount, where the chance said participant takes in whether or not an actual measure is above or below a nominal value, determined at the beginning of each round;

g) allowing all participants to submit bets for the next round, while allocating an identical limited time period to each participant, during which he will be able to put a bet for said next round; and h) determining that the winning participant in said game is the one that gains the highest amount at the end of the last round.

2. A method according to claim 1, wherein the game is an online multi- participants game in the form of one or more tournaments.

3. A method according to claim 1, wherein each participant buys virtual currency for real money, with a predetermined exchange rate.

4. A method according to claim 1, further comprising adding virtual players whenever the number of participants is insufficient,.

5. A method according to claim 1, wherein the selectable options are long run or short run binary options.

6. A method according to claim 1, wherein the actual measure corresponds to the value of an asset.

7. A method according to claim 1, further comprising introducing virtual assets whenever there is no actual asset trading.

8. A method according to claim 1, further comprising allowing each participant to change his bet during each round, independent of bets of other participants

9. A method according to claim 1, wherein the winning participant in each round wins all bets of the remaining participants.

10. A method according to claim 1, further comprising displaying a popup message to each participant, including basic rules for the game.

11. A method according to claim 1, further comprising allowing participant to participate in concurrent tournaments.

12. A method according to claim 1, wherein a tournament may be ranked, such that more than one winning participant from each group will move to the next round, until the final stage of a last tournament.

13. A method according to claim 1, wherein the gaming platform is adapted to operate via a social network.

14. A system for running a real-time strategic game of chance, based on participants who play against each other in real-time, comprising: a) A website, to which participants connect via their terminal devices, for establishing a virtual real-time binary options gaming arena, in which each game consists of a tournament with time limited rounds!

b) A software module for allowing each participant to purchase a similar amount of virtual currency!

c) A software module for allowing each participant to select a tournament, following registration and depositing the required amount,;

d) A software module for displaying to each participant, on his terminal device, the time left for submitting a bet in a current round, such that while submitting said bet, each participant can see bets submitted by other participants for a predetermined time period, ranging between zero and the entire period of said current round;

e) A gaming module, for: e. l) displaying the results for said current round to all participants, upon submitting bets and after all participants await the end of the current round,;

15. A method according to claim 14, wherein the terminal device is selected from the group of:

A desktop computer;

A laptop computer;

A smartphone;

A tablet.

16. A system for running a real-time strategic game of chance, which and are based on participants who play against each other in real^¬ time, comprising:

a) a plurality of terminal devices, via which said participants connect to a gaming server over a data network;

b) a gaming server connected to said plurality of terminal devices over said data network, said gaming server is adapted to:

c) establish a virtual real-time binary options gaming arena, in which each game consists of a tournament with time limited rounds; d) allow each participant to purchase, using his terminal device, a similar amount of virtual currency!

f) display to each participant, via his terminal device, the time left for submitting a bet in a current round, such that while submitting said bet, each participant can see bets submitted by other participants for a predetermined time period, ranging between zero and the entire period of said current round;

g) upon submitting bets, at the end of the current round, display the results for said current round, to all participants, on their terminal device,;

h) during each round, allow each participant to bet on any amount, using his terminal device, where the chance said participant takes in whether or not an actual measure is above or below a nominal value, determined at the beginning of each round;

i) allow all participants to submit, using their terminal devices, bets for the next round, while allocating an identical limited time period to each participant, during which he will be able to put a bet for said next round; and

j) determine that the winning participant in said game is the one that gains the highest amount at the end of the last round.

17. A system according to claim 16, in which during the game, each terminal device browses a web application residing on the gaming server.

18. A system according to claim 16, in which, each terminal device comprises a client application installed thereon, such that upon activating the client application by a participant, the terminal device automatically connects to the gaming server and during the game, part of the tasks are carried out by said client application, while the remaining tasks are carried out by said gaming server.