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Application US20200302745
Published 2020-09-24
Wagering Ecosystem System, Apparatus And Method
Various embodiments of a wagering ecosystem are described for allowing punters and other entities to buy and sell already-placed wagers. Allowing purchases and sales of already-placed wagers minimizes risk exposures while increasing the diversity, volume and efficiency of wagering. Generally, systems, apparatus and methods are described for an exchange server to execute buy and sell orders received from licensed entities to manage imbalances in the entities' books and to provide accounting for the executed orders.
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- 1. A multi-jurisdictional exchange server located in a first jurisdiction, comprising:
a memory for storing processor-executable instructions; a network interface for sending and receiving buy and sell orders for already-placed wagers via a wide-area network; and a processor, coupled to the memory and the network interface, for executing the processor-executable instructions that causes the serve to:
generate, by the processor, initial bet equalizers for future events or propositions whose outcome is uncertain;
distribute, by the processor via the network interface, the initial bet equalizers to a plurality of licensed book servers (“LBS”s) located in one or more different jurisdictions different than the first jurisdiction;
receive, by the processor via the network interface, a buy order to buy an already-placed wager;
receive, by the processor via the network interface, a sell order to sell the already-placed wager;
match, by the processor, at least one attribute of the buy order with at least one attribute of the sell order;
provide, by the processor via the user interface, a first notification to the first LBS that the first already-placed wager was purchased when a first attribute of the buy order matches a second attribute of the sell order; and
provide, by the processor via the user interface, a second notification to the second LBS that the first already-placed wager was sold when the first attribute of the sell order matches the first attribute of the buy order.
- 11. A method, performed by a multi-jurisdictional exchange server located in a first jurisdiction, comprising:
generating, by a processor of the exchange server, initial bet equalizers for future events or propositions whose outcome is uncertain; distributing, by the processor via a network interface coupled to the processor, the initial bet equalizers to a plurality of licensed book servers (“LBS”s) located in one or more different jurisdictions different than the first jurisdiction; receiving, by the processor via the network interface, a buy order to buy an already-placed wager; receiving, by the processor via the network interface, a sell order to sell the already-placed wager; matching, by the processor, at least one attribute of the buy order with at least one attribute of the sell order; providing, by the processor via the user interface, a first notification to the first LBS that the first already-placed wager was purchased when a first attribute of the buy order matches a second attribute of the sell order; and providing, by the processor via the user interface, a second notification to the second LBS that the first already-placed wager was sold when the first attribute of the sell order matches the first attribute of the buy order.
