TWI832243B - 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

Methods and apparatus for betting on putback options and related computer-readable media

This disclosure is generally about wagering.

An organization, company, institution or other entity that accepts bets or places bets from gamblers on the general outcome of an event (for example, scores or other attributes of a sporting event) is called a sports book. The role of the sports betting registry is to serve as the market maker for sports betting. Sports betting registries accept bets placed on teams or contestants and may maintain point spreads, for example by attempting to attract an equal dollar amount of bets on each team or contestant in a particular event to secure sports betting The profit of the registry (i.e., the tick), for example, regardless of the outcome of the bet. Sports betting registries typically strive to improve profits while maintaining the interest of current bettors and attracting new bettors, for example.

According to one example, a request to place a bet on an event may be received from a user. The user may be presented with the option to cancel the bet in exchange for a refund amount for the purchase. Presenting the option may include presenting at least a first usage time and a second usage time for selection by the user, the first usage time having a first fee associated with the first usage time and the second usage time having a cost associated with the second usage time. Secondary fee associated with usage time. The price of the option may be based on a fee associated with the usage time selected by the user. The selection of the first usage time may allow the user to cancel the bet in exchange for a refund amount at least before the first usage time, and the selection of the second usage time may allow the user to cancel the bet in exchange for a refund amount at least before the second usage time. . The refund amount associated with each of the first usage time and the second usage time may be the same amount. Receive instructions from users who are purchasing options. At the time of purchase, the user's selection of the first use time and/or the second use time can also be received. An indication that the user has paid for the option may be recorded (such as on/on a memory device, paper, etc.), the price of the option being based, for example, on a fee associated with the usage time selected by the user. Receive indications that users are exercising their options. A determination may then be made as to when the indication was received compared to the operational time. If instructions are received at least before the selected application time, the bet can be canceled in exchange for a refund. In the alternative, if instructions are received after the selected exercise time, for example, the option can expire, the user's bet can remain intact/uncancelled, and the user can win based on the outcome of the event he bet on. Or lose the bet. As another alternative, the selected exercise time may elapse without the user exercising the option/receiving no indication that the user is exercising the option. Again, the option can expire, the user's bet can remain intact/uncancelled, and the user can win or lose the bet based on the outcome of the event bet on.

According to another example and/or additional examples, a request to place a bet on an event may be received from a user. The user may be presented with a plurality of options to cancel the bet 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 a refund amount at least before the first application time, and the selection of the second option may allow the user to cancel the bet in exchange for a refund amount at least before the second application time. . The refund amount associated with each of the first option and the second option may be the same amount. It can receive instructions that the user is purchasing at least one of the first option and the second option. Can receive instructions that the user is exercising purchased options. A determination may then be made as to when the instruction was received relative to the exercise time associated with the purchased option. If instructions are received at least before the exercise time associated with the purchased option, the bet may be canceled in exchange for a refund. In the alternative, if the instruction is received after the exercise time associated with the purchased option, for example, the option can expire, the user's bet can remain intact/uncancelled, and the user can be based on the bet placed. Bet on the outcome of an event to win or lose. As another alternative, the exercise time associated with the purchased option may elapse without the user exercising the option/receiving no indication that the user is exercising the purchased option. Again, the option can expire, the user's bet can remain intact/uncancelled, and the user can win or lose the bet based on the outcome of the event bet on.

According to another example and/or additional examples, a request to place a bet on an event may be received from a user. The user may be presented with the option to cancel the bet for purchase at a price. The option may include a plurality of usage times, and the plurality of usage times include at least a first usage time and a second usage 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 a first refund amount before the first use time and/or at the first use time and/or at the first use time and/or after the first use time and Cancel the bet before and/or during the second usage time in exchange for the second refund amount. Can receive instructions from users who are purchasing options. Receive indications that users are exercising their options. A determination may then be made as to when the indication is received relative to the exercise time associated with the option. If instructions are received before and/or at the first exercise time associated with the option, the bet may be canceled 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 canceled in exchange for the second exercise time. Refund amount. In the alternative, if instructions are received during and/or after the second exercise time associated with the option, the option can expire and the user's bet can remain intact/uncancelled, And users can win or lose their bets based on the outcome of the event they bet on. As another alternative, all exercise time associated with the option may elapse without the user exercising the option/receiving no indication that the user is exercising the option. Again, the option can expire, the user's bet can remain intact/uncancelled, and the user can win or lose the bet based on the outcome of the event bet on.

According to another example and/or additional examples, a request to place a bet on an event may be received from a user. The user may be presented with the option to cancel the bet for purchase at a price. Receive instructions from users who are purchasing options. Receive indications that users are exercising their options. In response to the user exercising the option, the bet can be canceled in exchange for a refund. The user may be required to use at least part of the refund amount to place another bet.

In the following description, certain specific details are set forth in order to provide a thorough understanding of the various disclosed embodiments. However, one skilled in the relevant art will recognize that the embodiments may be practiced without one or more of these specific details, or with other methods, components, materials, etc. In other instances, well-known structures associated with computing systems and networks, including client computing systems and server computing systems, 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. Therefore, the appearances of the phrases "in one embodiment" or "in an embodiment" in various places throughout this specification do not necessarily all refer 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", "an" and "the" include plural referents unless the content clearly dictates otherwise. It should also be noted that the term "or" is generally used in its sense including "and/or" unless the content clearly indicates otherwise.

The Titles and Abstract of the Disclosure provided herein are for convenience only and do not interpret the scope or significance of the embodiments.

1 shows a schematic diagram of a networked environment 100 including servers and clients communicatively coupled through one or more networks, according to an illustrative embodiment. Systems, devices and methods for electronic sports betting registry betting connected to such servers may be part of that environment, or such systems, devices and methods may be implemented in such environment.

Network environment 100 includes a number of 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 functionality in network environment 100 . For example, the server computing system 102 may electronically generate, place, execute and/or track sports betting registry bets and sports betting registry bill put options and related transactions; determine whether to use the sports betting registry bill put option Refund amounts; and/or receive inputs regarding Registry bets and Registry note put options and related transactions, which instructions are stored in one or more databases or other computer accessible Read storage media 104a-104n (collectively 104). The term sports betting registry as used herein means any service related to placing bets or tracking bets placed on the outcome of a sporting event or otherwise in connection with a sporting event such as football, basketball, Baseball, football or any other sporting event, game or contest, horse racing, political events, competitions, fights, public figure events, celebrity events, etc., including any public event for which a sports betting registry offers the opportunity to place bets.

Network environment 100 includes a number of client computing systems 106a - 106n (collectively 106 ) that are selectively communicably coupled to one of server computing systems 102 via one or more communications 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 collections. Client computing system 106 may take a variety of forms, such as a desktop personal computer, laptop or notebook personal computer, tablet computer, workstation, minicomputer, mainframe computer, or a microprocessor capable of networked communications. microcontroller or other computing device. Client computing system 106 may be communicatively coupled to the remainder of network 108 via a wired communication channel, a wireless communication channel, or a combination of wired communication channels and wireless communication channels.

The network environment 100 includes several telecommunications devices 111 (only one is illustrated). Such telecommunications 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 a plurality of personal digital assistant (PDA) devices 112 (only one is illustrated). Such PDA device 112 may, for example, take the form of an Internet or Web enabled PDA or tablet computer (eg, iPHONE.RTM., iPAD.RTM., TREO.RTM., BLACKBERRY.RTM.) that The computer may, for example, execute a set of browser instructions or a program. Network environment 100 may include any number 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 communication channels and wireless communication channels.

One or more communication networks 108 may take various forms. For example, the communication network 108 may include a wired communication link, a wireless communication link, an optical communication link, or a combination of wired communication links, wireless communication links, and/or optical communication links. One or more communications networks 108 may include public networks, private networks, unsecured networks, secured networks, or a combination thereof. One or more communication networks 108 may use any one or more communication protocols, such as TCP/IP protocol, UDP protocol, IEEE 802.11 protocol, and other telecommunications or computer networking protocols. One or more communications networks 108 may include what are conventionally referred to as computing networks and/or what are conventionally referred to as telecommunications networks, or a combination of both. In at least one embodiment, one or more communication networks 108 include the Internet, and particularly 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 client computing systems 106, The telecommunications device 110 and/or the PDA 112 execute the browser software to request and display the HTML original file or web page 114 .

The network environment 100 includes an interactive system for electronically generating, placing, executing, and/or tracking registry bets and registry note put options and related transactions; determining the use of sports betting the refund amount of the Registry Notes Put Option; and/or receives inputs regarding Registry bets and the Registry Notes Put Option and related transactions. The interactive system may include one or more server computing systems 102, database 104, and one or more client systems 106, telecommunications devices 111 and/or PDAs 112.

One or more server computing systems 102 execute instructions stored on the non-transitory computer-readable storage medium that cause the server computing systems 102 to electronically generate, place, execute, and/or track sports betting registry bets and the Sports Betting Registry Note Sale Option; and with respect to and/or determining and issuing refund amounts as between one or more of the client systems 106, telecommunications devices 111, and/or PDAs 112; and in such Provides communications to and between one or more client systems 106, telecommunications devices 111, and/or PDAs 112 during or in connection with such services.

Although not required, embodiments will be described in the general context of computer-executable instructions, such as a program stored on a computer-readable storage medium or a processor-readable storage medium and executed by a computer or processor Apply engine, object or macro. Those skilled in the art will appreciate that the illustrated embodiments, as well as other embodiments, may be practiced with other accompanying system configurations and/or other computing system configurations, including handheld devices, multi-processor systems, microprocessor-based Devices may be designed for consumer electronics, personal computers ("PCs"), network PCs, small form factor computers, mainframe computers and the like. Embodiments may be practiced in distributed computing environments where tasks or actions are performed by remote processing devices connected via communications networks. In a distributed computing environment, program engines may be located in local memory storage devices and remote memory storage devices.

Figure 2 shows an electronic sports betting registry betting environment 200. The electronic sports betting registry betting environment includes a sports betting registry betting computer system 202, a 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 networks (LAN) 208 or wide area network (WAN) 210, which 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 a sports betting registry wagering computer system 202 and/or a payment computer system 262. Likewise, client computing systems 106a-106n (collectively 106), telecommunications device 111, and/or PDA device 112 of FIG. 1 may include an exemplary player A computer system 264 and an exemplary player B computer system 266. Communication between the computer systems shown in Figure 2 may also be by transmitting data on non-transitory computer-readable media such as disks, flash drives, other memory devices, etc. that can be read by such computer systems. to proceed.

The payment computer system 262 may include those computer systems of one or more of the various sports betting registry entities of a casino or other licensed sports betting establishment. The exemplary bettor A computer system 264 and the exemplary bettor B computer system 266 may include any user with a web browser or other sportsbook betting or wagering application that displays a website, web page, and/or web application. Computer systems, and other sports betting or wagering applications such as those provided by the sports betting registries of casinos or other licensed sports betting establishments. Such websites, web pages and/or web applications may include those hosted and/or served by the Sportsbook Registry Wagering Computer System 262 or hosted by a web server computer system and/or those websites, web pages and/or web applications served by the Web server computer system available from the Sports Betting Registry Betting Computer System 262, the Exemplary Bettor A Computer System 264, and the Exemplary Bettor B Computer System 266 access. For example, the Web server computer system may be one or more of the server computing systems 102 of FIG. 1 .

Registry Wagering Computer Systems 202 may include computer systems that electronically generate, place, execute and/or track Registry Wagering and Registry Note Putback Options and related transactions; Determine the refund amount for the exercise of the Registry's note put option; and/or receive inputs regarding Registry bets and the Registry's note put option and related transactions, which instructions Stored in one or more databases or other computer-readable storage media. Sportsbook Registry bets may include bets on any public event for which the Sportsbook Registry provides betting opportunities, including but not limited to: sporting events, horse racing, political events, competitions, struggles, public figure events, celebrity events wait. As used herein, "event" or "sporting event" means any public event for which a sports betting registry offers the opportunity to place bets. The sportsbook betting computer system 202 may also provide a user interface for accepting bets from the example bettor A and selling the sportsbook ticket putback option to the example bettor via the example bettor A computer system 264 A, and accepts bets from and sells the sports betting registry ticket putback option to example bettor B via example bettor B computer system 266. For example, the user interface may be displayed as a web page served by the sports betting registry wagering computer system 202, displayed in or on such web pages, or displayed as an interface for other applications, including those hosted by another Web page. The server computer system or other computer system that hosts and/or serves the various web pages and websites of sports betting registry operations, organizations, companies and individuals that may be accessed by another Web server computer system or other computer system through Accessed by one or more local area networks (LANs) 208 or wide area networks (WANs) 210 that are part of network 108.

Registry computer system 202 will sometimes be referred to herein in the singular, but this is not intended to limit embodiments to a single device, as in a typical embodiment there may be more than one registry involved. A computer system or device may have multiple different computing systems that each store and/or serve different items (for example, a web server that is separate from a sports betting registry betting server or a payment server, etc.). Unless otherwise described, the construction and operation of the various blocks shown in Figure 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 art.

Sportsbook 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. The 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. . System bus 216 may employ any known bus structure or architecture, including a memory bus with a memory controller, a peripheral bus, and a zone 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 the ROM 218, contains basic routines that help transfer information between components within the sportsbook betting computer system 202, such as during startup.

The sports betting registry betting computer system 202 may include a hard drive 224 for reading from and writing to a hard drive 226, and a drive 224 for reading from and writing to a removable optical disk 232. 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 disk 234 may be a magnetic floppy disk or magnetic disk or other storage media. The hard disk drive 224, the optical disk drive 228, and the magnetic disk drive 230 may communicate with the processing unit 212 via the system bus 216. Hard drive 224, optical drive 228, and disk drive 230 may include interfaces or controllers (not shown) coupled between such drives and system bus 216, as known to those skilled in the art. of. Drivers 224, 228, and 230 and the drivers' associated computer-readable storage media 226, 232, 234 may provide computer-readable instructions, data structures, programming engines, and others for the sports betting registry wagering computer system 202 Non-electronic and non-transitory storage of data. Although hard drive 224, optical disk drive 228, and disk drive 230 are used to illustrate the sports betting registry betting computer system 202 as depicted, those skilled in the art will understand that data that can be stored and accessed by the computer may be used. Other types of computer-readable storage media, such as tape cards, flash memory, compact discs (“CDs”), Bernoulli cartridges, RAM, ROM, smart cards, solid-state drives, etc.

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

The program engine may be stored in system memory 214, such as an operating system 236, one or more applications 238, a refund amount determination module 240, program data 242, and a historical analysis module 244 capable of analyzing historical data of previous sporting events. . Application 238 may include instructions that may cause processor 212 to accept bets from bettor A computer system 264 , bettor B computer system 266 , and/or other bettor computer systems and sell a sports ticket putback option to the bettor. The computer system of player A, the computer system of player B and/or the computer systems of these other players. Application 238 and refund amount determination module 240 may include computer-executable instructions and functionality to provide an interface for one or more of the following: placing a sportsbook bet, using a previously selected or purchased sportsbook. Registry sell-back options and refund amounts determined when a bettor exercises a previously selected or purchased sports registry sell-back option based on analysis of historical data from previous sports events by the Historical Analysis Module . The application 238 and the refund amount determination module 240 may deliver such services via the LAN 208 or the WAN 210 using one or more network protocols, or a combination of one or more network protocols, including But it is not limited to HyperFile Transfer Protocol (HTTP), TCP/IP protocol, UDP protocol and IEEE 802.11 protocol, as well as other telecommunications or computer networking protocols.

Applications 238 may also include instructions for handling security such as passwords or other access protection and communication encryption, and may also allow access to and exchange of data with sources such as corporate intranets, extranets, or Other networks as described below, and other server applications on the server computing system, such as those server applications further discussed 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 events that have characteristics common to the current sports event. Statistical analysis of events, bets have been placed on such current sporting events and sports betting registry sell-back options have been purchased on such current sporting events. For example, such analysis may be based on historical data regarding the results of previous sporting events of the same type as the current sporting event when corresponding games in the previous sporting event were interrupted or corresponding intervals, and corresponding games in the previous sporting event. Other corresponding factors during interruptions or corresponding intervals.

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

An operator may enter commands and information into the sportsbook betting computer system 202 via an input device 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, etc. These and other input devices are connected to one or more of the processing units 212 via an interface 250 coupled to the system bus 216 , such as a serial port interface, but may use interfaces such as a parallel port, game port, or wireless interface or universal serial port. Other interfaces for 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. Sportsbook betting computer system 202 may include other output devices, such as speakers, printers, and the like. The sports betting registry betting 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 betting registry betting computer system 202 may use logical connections to one or more payment computer systems 262 and to one or more bettor computer systems (e.g., bettor A computer system 264 and/or bettor B computer System 266) logical connections to operate in a networked environment. Communications may occur via wired and/or wireless network infrastructure, 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 from or integrated with the sportsbook betting computer system 202 and may take the form of a conventional mainframe computer, minicomputer, workstation computer, or 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 couples various system components including the system memory 269 to the processing unit 268. Payment computer system 262 will sometimes be referred to herein in the singular, but this is not intended 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, 80.times.86 or Pentium series microprocessors from Intel Corporation, 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), etc. Unless otherwise described, the construction and operation of the various blocks of the 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 art.

The system bus may employ any known bus structure or architecture, including a memory bus with a memory controller, a peripheral bus, and a zone 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 the ROM 270, contains basic routines that help transfer information between components within the peripheral computing system 114, such as during startup.

Payment computer system 262 may also include one or more media drivers for reading from and writing to computer-readable storage media 274 (e.g., hard drives, magnetic disks, and/or optical disks). 273 (e.g., hard drive, disk drive, and/or optical disk drive). Computer-readable storage media 274 may, for example, take the form of removable media. For example, the hard disk may take the form of a Winchester drive, the optical disk may take the form of a DVD, and the magnetic disk may take the form of a magnetic floppy disk or magnetic disk. Media driver 273 communicates with processing unit 268 via one or more system buses. Media driver 273 may include an interface or controller (not shown) coupled between such driver and the system bus, as is known to those skilled in the art. The media driver 273 and the media driver's associated computer-readable storage media 274 provide computer-readable instructions, data structures, programming engines and other data for the payment computer system 262 that are non-transitory and non-transitory. Storage. Although described as employing computer-readable storage media 274 such as hard drives, optical disks, and magnetic disks, those skilled in the art will understand that payment computer system 262 may employ other types of computer-readable storage media that can store personal data that can be accessed by a computer. Read storage media such as tape cards, flash memory cards, compact discs (“CDs”), Bernoulli cartridges, 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 program engine may include instructions for handling security such as password or other access protection and communication encryption. System memory 269 may also include communications and server programs, such as a Web server, that allow payment computer system 262 to pay bettors and/or initiate payments for winning bets and/or refunds. Payments made to bettors resulting from the bettor's exercise of the sports betting registry's ticket putback option (e.g., during a designated game break or other indicated period during an event). Other indication periods may be any period from the time the bet 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 to the account associated with the bettor via a cash machine or voucher printer (not shown) connected to or integrated with the payment computer system 262, or electronically. Electronic payments may be sent over network 108 over the Internet and/or through web applications and/or other network or electronic payment and deposit systems such as automated clearinghouse (ACH) systems, lending systems, etc.

Although described as being stored in system memory 269 , the operating system, applications, other programs/engines, program data, and/or browsers may be stored on computer-readable storage media 274 of media driver 273 . The operator may enter commands and information into the payment computer system 262 through the user interface 275 via 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, tablets, scanners (eg, sportsbook ticket scanners), and the like. These and other input devices are connected to the processing unit 269 via an interface coupled to the system bus, such as a serial port interface, but may use interfaces such as a parallel port, game port, or wireless interface, or a universal serial bus ("USB") other interfaces. 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, etc.

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

The payment computer system 262 also includes instructions stored on the non-transitory computer-readable storage medium that cause the processor of the payment computer system 262 to interrupt the specified game of the sporting event on which the bettor placed the original bet or When the resale option of the previously purchased sports betting registry ticket is used during other indication periods, the amount determined and communicated by the refund amount determination module 240 of the sports betting registry betting computer system 202 will be refunded to the bettor. Other indication periods may be any period from the time the bet 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 through the sportsbook betting computer system 202 during halftime of the sporting event at which the bet was placed for the purpose of exercising the option. The refund amount determined at the time. In some embodiments, this refund amount may not be reduced below a guaranteed predetermined minimum amount. To exercise the purchased option, at a certain time during the sporting event (e.g., halftime, between periods, between innings, or between quarters), bettor A sells back by doing the following Registry Notes Issued by Registry Wagering Computer System 202: Bring, send, initiate sending, or otherwise communicate (if the ticket is an electronic ticket) Payment Computer System 262 to enable The ticket is scanned or read electronically, the refund amount is determined (by the sports betting registry wagering computer system 202 or the money distribution computer system) and the determined refund amount is received. In some embodiments, the money dispensing computer system may wirelessly authenticate the bettor A computer system 264 (e.g., via near field communication (NFC) or radio frequency identification (NFC) in the bettor A computer system 264 and/or the money dispensing computer system 262 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 betting registry wagering computer system 202, one or both of these modules may also be or may actually be a payment computer. Part of System 262.

In the case where the refund amount determination module 240 is part of the payment computer system 262 , the payment computer system 262 includes instructions stored in a non-transitory computer-readable storage medium that causes the payment computer system 262 to The processor receives additional information and analysis from the sports betting registry wagering computer system 202 to determine the refund amount, the additional information and analysis being historical statistical data regarding the results of previous sporting events of the same type as the current sporting event on which the bet is placed, And correspond to the same game interruption or corresponding interval in the previous sports event, and other corresponding factors when the same game interruption or corresponding interval in the previous sports event.

Player A computer system 264 may have one or more of the same or similar components as previously described computer systems, such as a processing subsystem 280 that includes one or more non-transitory processors and computer readable memory. ; 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.

Bettor A computer system 264 includes program instructions stored on a non-transitory computer-readable storage medium, such as those of a Web browser 284, that are configured to access the sports betting registry wagering computer system. 202 and payment computer system services (for example, used to place bets on sports events at the remote end, purchase sports betting registry bill buy-back options, and use previously purchased sports betting registry bill sell-back options at the remote end, Collect refunds and payments, etc.). Browser 284 in the depicted embodiment is based on and operates using markup languages such as HyperFile Markup Language (HTML), Extensible Markup Language (XML), or Wireless Markup Language (WML). Use syntax-delimited characters for the data added to the document to represent the structure of 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 a processing subsystem 286 that 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 on a non-transitory computer-readable storage medium, such as those of web browser 290, that are configured to access sports betting registry bets. The service of the computer system 202 is similar to the program instructions of the Web browser 284 of the bettor A's computer system 264 described above. Although only two exemplary punter computer systems are depicted in FIG. 2, there may be fewer or more such punter computer systems operatively connected to LAN 208 and/or WAN 210 in various other embodiments.

3 is an illustration of an exemplary user interface 300 for bettor A to purchase a sports betting registry bet ticket resale option, one or more portions of which may be displayed on a sportsbook, according to one illustrated embodiment. On the monitor of the betting computer system 202 of the betting registration office or the bettor A's computer system 264. Bettor A may, for example, purchase a sports betting registry ticket buyback option via interface 300 during the process of placing a bet on the corresponding sporting event. Additionally, a bettor may purchase via interface 300 after placing a bet on the corresponding sporting event at a time prior to the end of the specified game interruption or indicated period for which the option is applicable and after having received a sportsbook registry ticket indicating the initial bet. Sportsbook Registry Wager Note Sale Option. There may be circumstances that prohibit or suspend the purchase of a putback option after which a Sportsbook Registry note has been issued, including but not limited to: point spread changes, injuries to key players, moves of key players from the roster Exceptions, catastrophic events for specific teams, etc. The purchased option may be an option to be exercised by the bettor during a designated break or indicated period (e.g. during half-time) of the corresponding sporting event for the purpose of the bettor receiving compensation for a canceled bet (i.e. , the refund amount determined).

However, in some embodiments, all or some of the features and components of user interface 300 described herein may be configured for use by sports betting registry employees or agents instead of or in addition to Bettor A. Used by a person, such as to place a bet on behalf of bettor A and make a putback option purchase. In other embodiments, neither the sports betting registry nor Bettor A needs to use the Bettor A interface to place the bet and have the putback option purchased by Bettor A. For example, bettor A enters the sportsbook and walks toward the existing counter where the sportsbook agent is located. Bettor A then requests an event for betting (e.g. football, basketball, soccer, baseball, boxing, individual events, horse racing, political events, competitions, fights, public figure events, celebrity events, etc.) Bet on any one of the bet types. Types of bets or stakes may include, but are not limited to: straight, total score (i.e., win/loss), money line, teaser, future bet, win-only (i.e., win/loss) Single action), win-draw-cancel the game (double action), reverse bet, buying points, proposition bet, etc. Bettor A then requests the agent to include the putback option in Bettor A's bet, 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 Bettor A interface. In one embodiment in which bettor A declines to purchase or select the registry note putback option (or is never offered the putback option), and after a registry note has been issued indicating the initial bet, The Sports Betting Registry may make an unsolicited offer to bettor A so that Bettor A has the opportunity to purchase the Sports Betting Registry Notes Putback Option at a time before the interruption of the game or the end of the indicated period in which the option may be exercised. The offer to bettor A may be displayed on a public display in the Sports Betting Registry facility, displayed on a monitor of bettor A's computer system, printed and provided to Bettor A, and posted on the Sports Betting Registry website , and/or communicate electronically via email, text message, fax, etc.

The additional cost of participating in the sell-back option, if any, is determined by the Registry and may range from 0% to any percentage of the ticket price or amount bet and/or any fixed dollar amount selected by the Registrar amount. At the discretion of the Sports Betting Registry, the additional cost of participating in a putback option when placing a bet may be greater or less than the additional cost of participating in a putback option when purchased at a later time.

The refund amount may be determined based on the current odds or odds of winning the bet placed by the bettor at the designated break or indicated time period of the event when utilizing the Sportsbook Bookback Option (also known as That is, the value of the Sportsbook Registry note put option to bettor A). The option may also include a minimum guaranteed amount that will be refunded to the bettor if the bettor chooses to exercise the option (for example, 20% of the stake, or other predetermined minimum amount). However, in some embodiments, there may be no guaranteed percentage refund or other guaranteed refund amount. The current bettor may be shown when purchasing the Sports Betting Registry Bill Putback option, or at any time from the start of the sporting event up to and including the time period when the bettor can exercise the option. The calculated refund amount (i.e., the current value of the Registrar's note resale option). For example, this value may be displayed on a public display of the sports betting registry facility, displayed on display 302 of the bettor A interface, printed and provided to the bettor, posted on the sports betting 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 being placed (e.g., ABC), showing what sporting event (e.g., XYZ game) the bet is being placed on instructions and bet amount (e.g. $110). Before issuing a ticket, user interface item 302 is configured to display a prompt that asks Bettor A whether Bettor A would like to purchase the sports betting registry ticket putback option to be used if the bettor is interrupted on a specified game. If you use this option during the period, you will receive a minimum guaranteed percentage of the bet amount. 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 purchasing the option. For example, this fee may be a percentage of the bet (eg, 2.5% of the bet). However, other percentage amounts, flat fees, or combinations thereof may be optionally charged by the sports betting registry wagering computer system and will be indicated to the bettor via user interface item 302. In some embodiments, the sportsbook may choose to charge no fee or a refundable fee for purchasing the sportsbook note resale option, and this will be indicated to the bettor via user interface item 302.

User interface item 302 also includes controls that are selectable by the bettor to indicate whether the bettor wishes to purchase the sports betting registry ticket putback option. For example, the user selects icon or button 312 to indicate that the bettor wants to purchase the option, and selects icon or button 314 to indicate that the bettor does not want to purchase the option. In embodiments in which user interface item 302 is displayed on sports betting registry wagering computer system 202 , interface 300 may also include ticket printing and retrieval components 316 configured to print sports betting A registry note that indicates a bet and whether a registry note put option has been purchased. These instructions may be printed or otherwise encoded (eg, on a barcode) on sports betting registry tickets distributed by ticket printing and retrieval component 316.

In other embodiments (eg, those in which user interface item 302 is displayed on bettor A computer system 264 remote from sportsbook betting computer system 202 ), sportsbook tickets may be issued electronically It is an electronic receipt stored on the betting computer system 202 of the sports betting registry and/or the bettor A's computer system 264. Electronic sportsbook tickets are associated with the bettor via a code communicated to the bettor through the sportsbook betting computer system, the bettor's account, or other bettor credentials when used to account for bet wins. These other bettor credentials can be verified when placing bets or redeeming monies against the resale option of purchased sports betting registry notes.

Rejection of purchase by bettor A via interface 300 after placing a bet on the corresponding sporting event at a time prior to the end of the specified game break or indicated period in which the option is applicable and after a sports betting registry ticket indicating the initial bet has been issued In an embodiment of the sportsbook ticket resale option, bettor A may scan the sportsbook ticket at a scanner (e.g., via a machine-readable symbol such as a barcode or QR code symbol, a radio frequency identification, or an RFID query). a transponder, near field communication (NFC) chip, or optical character recognition or OCR) that is part of the ticket printing and retrieval component 316 or located elsewhere (such as on Player A's computer system 264), To obtain the put option associated with the bet associated with the Sportsbook Registry Note. In embodiments involving electronic tickets, bettor A may enter the code provided to bettor A when the ticket was 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 bet has a putback option associated with it.

4 is an illustration of an exemplary user interface 400 for facilitating bettor A's use of a sports betting registry bet ticket resale option, according to one illustrated embodiment, one or more portions of which may be displayed on On the display of the betting computer system 202 of the sports betting registration office, the payment computer system 262 or the bettor A computer system 264. Bettor A may, for example, exercise a registry ticket putback option (such as a registry ticket putback option purchased via interface 300 of FIG. 3 ) during a designated game blackout or indicated period via interface 400 of FIG. 4 , Previously purchased options are valid during that designated game break or period indicated.

However, in some embodiments, all or some of the features and components of user interface 400 described herein may be configured to be used by a sports betting registry employee teller instead of or in addition to Player A. Or used by an agent, such as to purchase with a sell-back option on behalf of bettor A and provide a refund to bettor A. In other embodiments, neither the sportsbook nor bettor A need to use the user interface 400 to utilize the sportsbook ticket putback option. For example, bettor A can approach a sportsbook cashier, request to use the sportsbook sell-back option, hand over the sportsbook ticket to the teller, and the cashier will provide the refund amount to bettor A in cash. . If bettor A chooses to exercise the registry's put-back option, bettor A can make the registry aware of this situation via any system the registry prefers to use, whether electronic or open discourse. For example, bettor A may scan or insert a sportsbook ticket, or enter information related to the sportsbook ticket into an electronic kiosk, approach a sportsbook agent at the sportsbook counter, or Enter a code or use an electronic handheld device to scan sportsbook register tickets and more. However, with regard to bettor A, the information station, the registry agent, and/or the handheld device may use the user interfaces 300 and 400, the registry betting system 202, the payment computer system 262, and/or the bettor A computer system with any combination of the features and components described herein, to purchase the Registry Bill Put Option, to use the Registry Bill Put Option, to determine the amount of the Registry Bill Refund and /or pay the refund amount.

The period during which the Registry's note put option is available may be all or a portion of any number of periods during the sporting event as determined by the Registry. For example, the Sportsbook Registry Note Putback Option may be exercised during a single specific game blackout, multiple specific game blackouts, or during any game blackout. A game interruption is defined as a cessation in play for any reason and may include, but is not limited to, the following interruptions during various sporting events: halftime, quarter period, inning or half of a baseball game Between innings, game timeouts, adjustment time and overtime periods, during warning laps in racing, breaks in hockey games, between rounds in boxing matches, certain types of game actions (e.g. field goals, two-pointers) The period before extra points, free throws) and before specific events that may occur during the course of the game, including but not limited to: player injury, pitcher leaving the game, or goaltender replacement. In some embodiments, the sports betting registry may determine that the sports betting registry note put option is available from the time the bet is recorded until the conclusion of either a portion of the sporting event or the entire sporting event. This is defined as the indicated period and may be communicated to bettors at the time the bet is placed. In one embodiment, the sports betting registry ticket buyback option may be utilized during ongoing games and all game blackouts during the indicated period.

For example, during halftime of a sports event in which bettor A has placed a bet and purchased the halftime sports betting registry ticket resale option, bettor A can approach the sports betting registry betting computer system 202 and use A cashier, employee, or other agent of the sports betting registry betting computer system 202, or using the bettor A computer system 264 to exercise this option. The bettor may scan the bettor's sportsbook ticket at component 324 on the sportsbook betting computer system 202, which component is configured to scan and read the sportsbook ticket on the RFID transponder. or information encoded in machine-readable symbols. Component 324 may then print out a voucher or coupon that the bettor may redeem for cash, or in some alternative embodiments, dispense cash. In other embodiments, rather than receiving a voucher 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 to the bettor on how, when, and where to proceed with the ticket to a teller, 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 the bettor to receive a refund or initiate an electronic transaction to credit the bettor's account to provide a refund.

In some embodiments where the sportsbook ticket is an electronic ticket, Bettor A may provide at the sportsbook betting computer system 202 or bettor A computer system 264 associated with the electronic ticket given to the bettor when the ticket is issued. code, or enter the credentials associated with Bettor A and/or the electronic ticket issued. User interface item 318 may then be displayed to bettor A, which user interface item includes a prompt asking bettor A whether bettor A would like to utilize the registry purchased for the registry ticket. Note repurchase option. User interface item 318 also displays the refund amount (i.e., the value of the sports betting registry ticket buyback option to bettor A). User interface item 308 of user interface 400 is also configured to display an indication of the type of bet being placed (e.g., ABC), an indication of what sporting event to place a bet (e.g., XYZ game) and the bet amount ( For example $110).

User interface items 318 also include controls (e.g., user-selectable icons, dialog boxes, keys, switches, buttons) that can be selected by the bettor to indicate whether the bettor wishes to utilize the sports betting registry. Note repurchase option. For example, the user selects icon or button 320 to indicate that the bettor wants to exercise the option, and selects icon or button 322 to indicate that the bettor does not want to exercise the option. If Player A selects the icon or button 320 to indicate that Player A wants to exercise the option, the refund amount will be distributed, sent or otherwise released to Player A.

As mentioned above, the current odds or odds of a bet being placed based on whether a bettor will win at a specified break or indicated period of time in a sporting event when utilizing the sports bookmaker's note put option rate, to determine the refund amount (that is, the value of the Sports Betting Registry bill resale option to bettor A). The option may also include a minimum guaranteed amount that will be refunded to the bettor if the bettor chooses to exercise the option (for example, 20% of the stake, or other predetermined minimum amount). However, in some embodiments, there may be no guaranteed percentage refund or other guaranteed refund amount. The current calculation can be shown to bettors at the time of purchasing the Sportsbook Registry Bill Putback 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 refund amount issued (i.e., the current value of the Registrar’s note resale option). For example, this value may be displayed on a public display of the sportsbook facility, displayed on display 318 of the bettor A interface, printed and provided to the bettor, posted on the sportsbook website, and/or via Communicate electronically via email, text messages, fax, etc. In some embodiments, bettor A may approach and/or activate user interface 400 and scan or otherwise enter the bettor's ticket or ticket information such that user interface 400 displays the current refund amount (i.e., sports bet the current value of the Registrar’s put option on the notes).

The current refund amount (i.e., the current value of the Registrar's option to sell back the Note to Player A) may be determined in any manner the Registrar chooses. Sports betting registries may use historical odds models, coin tosses, or any system or method selected by such sports betting registries. In some cases, the Registrar of Sports Betting may choose to outsource the determination of current refund amounts to a person or entity deemed to have special expertise in this area. Even when outsourcing, the Sports Betting Registry retains the ultimate authority to determine the current refund amount.

The determined refund amount may be based on statistical analysis of previous sporting events that share common characteristics with the current sporting event for which the bet has been placed and the sportsbook resale option purchased, and in some embodiments, based on intrinsic game factors. Such inherent game factors may include, but are not limited to, catastrophic player injury, illness, or other disqualification occurring prior to a designated game interruption or prior to the end of an indicated period during which the Sportsbook Registry Notes Putback Option may be available . In some embodiments, such analysis may be based on historical data regarding: the results of previous sporting events of the same type as the current sporting event at corresponding game interruptions or corresponding intervals in the prior sporting event, and at the time of the prior sporting event. Other corresponding factors when the corresponding game is interrupted or the corresponding interval.

For example, if bettor A places a $110 bet on the Bears playing against the Packers (home team) and bets that the Packers will not win by more than 7 points and the score at halftime is Bears 10 and Packers 17, the analysis will determine a win at halftime. 1-in-7 percent chance that the home team will score at least one point in the second half (based on historical NFL statistics). The registry wagering computer system 202 or the payment computer system 262 will then use this probability to determine the amount to be refunded to bettor A at halftime due to the exercise of the registry bill put option. The percentage amount of the refund may also be further reduced (for example, by one percentage point) as an additional charge to the bettor, and will thereby increase the amount of money the sports betting registry organization receives (i.e., the rake). Using this example, if a home team that wins by seven points at halftime has a 75% chance of scoring at least one point in the second half and the sports betting registry reduces the percentage or odds paid to bettors, for example, by one percentage point, then In the case where bettor A uses the sell-back option, the amount refunded to bettor A will be (25%-1%)*$210=$50.40. However, in other instances using the same stake amount, based on odds and the additional percentage charged by the sportsbook registry, if the amount determined for a refund falls below the guaranteed refund amount (e.g., falls below the stake amount 20% or less), the refund amount will instead be a guaranteed refund amount of 20% ($22) of the stake amount.

In some embodiments, the amount awarded to refund the bettor when the bettor utilizes the sports betting registry ticket sell-back option may also be based on the amount of money awarded to the bettor during the previous game blackout and/or the current designated game blackout or indicated period. The current number of registry ticket buyback options used by a particular winning team or losing team, or adjusted based on the current number to maintain the use of the sportsbook ticket buyback option by each team for the sporting event. A more even amount for selling options. For example, if the current number or dollar value of the put-back options exercised by Team A for a sporting event is significantly greater than the current number or dollar value of the put-back options exercised by Team B for a sporting event, then the amount of the put-back option exercised against Team B may be reduced. The amount determined to be refunded for Team A's exercise of the Registry's note put option against Team A, and/or may be increased by the amount determined to be refunded for Team B's exercise of the Registry's note put option against Team B .

As described herein, a bettor may cash out a bet in exchange for a cash out price (or refund amount) prior to the outcome of the bet (eg, before the bet is determined to be a winning bet or a losing bet). For example, a bet on the outcome of a match can be cashed out before the match ends. When a bettor cashes out a bet, the bet may be abandoned, canceled, withdrawn, refunded, rendered invalid or unfulfillable, voided, deleted, transmitted to the counterparty to which the bet was placed (e.g. required in the event of a winning bet) A counterparty who pays a payout), or is otherwise presented so that a counterparty who is required to pay a payout on a bet is required to pay such payout if the bet is no longer a winning bet. For illustrative purposes, examples of various embodiments herein may describe such cash-outs in exchange for "cancelling" bets. However, it should be understood that a bet need not technically be "cancelled" but may instead be abandoned or otherwise cashed out.

Although many embodiments are described herein in which bettors pay for the option to sell back or cash out their bets, it should be understood that in some embodiments, bettors may not be charged for participating in the sellback option. For example, bettors who place bets can be offered the opportunity to sell back their bets before the outcome of the bet is determined, for example, without charging the bettor (or already charging the bettor) for the opportunity to sell back the option. .

In some embodiments, a user may cash out a bet prior to the outcome of the bet in exchange for a refund amount or cash out price based at least in part on: (1) risk management information associated with the counterparty to the bet; and /or (2) the bet will be the current chance of winning the bet; and/or (3) the current market value of the bet (e.g., as priced in the market used to exchange the bet).

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

In some embodiments, a Casino Operator may accept bets on one or more specific outcomes (e.g., a bet that the Seahawks will beat the Patriots by 3.5 points) and one or more mutually exclusive outcomes. bets (e.g., a bet that the Seahawks will not beat the Patriots by 3.5 points, or equivalently, a bet that 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. Bets accepted by a Casino Operator for an event (e.g., a bet for or against the Seahawks) may include the Casino Operator's Bet Registry for that particular event (e.g., Patriots vs. Seahawks game). For a bet on a match in which one team will beat another, a "casino operator" is a "casino operator" if, for each outcome of the bet, the proceeds from the losing bet will be sufficient to cover the payout from the winning bet. A "bet registry" (e.g., the counterparty to one or more bets placed by a user) may be considered "balanced" or "matched." For example, if the amount of the bet that exists on one side of the bet (e.g., the bet that the Patriots will win) is the same as the bet that exists on the other side of the bet (e.g., the bet that the Seahawks will win or lose by less than 3.5 points) Note) If the total amounts are equal or substantially equal, the bet registry may be balanced.

All other things being equal, a casino operator may prefer that, for each possible betting outcome, the total potential payout on one side of the bet (e.g., a bet on Seahawks) is reduced by the total potential payout on the other side of the bet. The total return on the bet on one side (for example, betting on Patriots) cancels out. Accordingly, a Casino Operator may prefer to maintain its Wager Registry Balance, for example, such that the total volume (exposure) on one side of a bet is equal (or approximately equal) to the total volume (or potential bet) on the opposite side of a bet. Proceeds from losing bets). In the above example, to the extent that the total amount staked on each side of the bet is equal, then the funds received by the casino operator for the losing bet can be used to pay 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 bet on Patriots be equal (or approximately equal) to the total amount bet on Seahawks. If bets total $100,000 on the Seahawks and $100,000 on the Patriots, the casino operator will have no risk as to the outcome of the bet: regardless of who wins, the funds received from the losing bet (e.g., $100,000) will be sufficient to cover the winning bet. The payout of the bet (e.g. $100,000). (For illustrative purposes, fees, commissions, spreads, varying odds of winning, and other concepts have been ignored in this example.)

To the extent that the proceeds from losing bets on a particular outcome in an event will not be sufficient to cover all winning bets on that outcome, the casino operator (or other party responsible for paying out winning bets) may be deemed 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 regarding such exposures, risks, and/or imbalances, for example, as described herein.

In some embodiments, the wagering proceeds from a total bet on one outcome (e.g., the bet that the Seahawks will win by at least 3.5 points) may be the same as the bet on one or more mutually exclusive outcomes (e.g., the bet that the Seahawks will not win). Win 3.5 points under bet) unbalanced. In such situations where the total amount of bets received by a betting counterparty (e.g., a casino operator) on a particular outcome is different from the total amount of bets received by that counterparty on mutually exclusive outcomes, a determination may be made against the opponent The total amount of parties' bets is "unbalanced" to the extent that such amounts are not equal. For example, if 90% of the bets (accepted by the opponent) are bets on which the outcome A will occur, and only 10% of the bets (accepted by the opponent) are on one or the other in which A will not occur. Betting on multiple outcomes may be unbalanced by the casino operator or other betting opponent.

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 (e.g., before the outcome can occur, such as for a bet on a game, before the game ends). Note the opportunity. For example, a "casino operator" may provide various resale prices to various bettors, and such resale prices will be paid to bettors upon resale (or cancellation, withdrawal, etc.) of bettors' bets. The sell-back price (eg, the price paid to a bettor in exchange for giving up or selling back a bet, for example, as described herein) may be determined based on risk management information. For example, the sell-back amount may be determined based on one or more of the following: (1) an imbalance between bets placed against and in favor of the casino operator; and/or (2) bets placed the current market value of the bet (for example, as determined based on the price offered at the time of the bet exchange to buy or sell the bet); and/or (3) the chance that the bet will be a winning bet.

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

In some embodiments, the Casino Operator may price the cashout price based at least in part on the current odds that the outcome of the bet will occur, commission or other fee factors, and the bet placed 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 (e.g., a bet that the Seahawks will win).

For example, in some embodiments, there is an imbalance between bets in favor of a particular outcome and bets against a particular outcome (eg, in another scenario, bets for and against the Patriots defeating the Seahawks). For example, the imbalance could include $30,000.

In some embodiments, the cash out price offered (e.g., paid) to cash out a bet may be based on value based on the odds of success of the bet less fees and/or commissions or spreads (e.g., , the price can be calculated as a percentage of the amount bet). In some embodiments, the amount paid to the cash-out participant may include a calculated amount adjusted based on factors associated with risk management (e.g., the difference between the casino operator's bet on the outcome and the opposite bet). There is an amount associated with the degree of imbalance, which is the opposite of this type of bet.)

In some embodiments, to mitigate the Casino Operator's risk with respect to the outcome of a particular bet, the Casino Operator may treat the Casino Operator with respect to the related bet in a manner that is more or less favorable to the counterparty to which the bet was placed. Cash out pricing (before the outcome of the bet occurs). For example, a Casino Operator may have an unbalanced bookmaker if it accepts bets totaling $50,000 that the Seahawks will win but only accepts bets totaling $10,000 that the Patriots will win. Patriots bettors may wish to cash out their bets before the end of the Patriots-Seahawks game (i.e., before the outcome of the bet is determined). In this situation, the Casino Operator holding all bets may have an imbalance of bets on the outcome of the game, for example a bet on the Seahawks that is five times the bet on the Patriots. If the Seahawks win, the casino operator may have to pay $50,000 to the winning bettor, but will only keep the $10,000 from the losing bettor. Therefore, the casino operator will have a net liability of $40,000 due to the wagering imbalance in its bookmaker. Before the end of the game, some bettors may wish to cash out their bets, such as by exercising an option to cash out their bets (eg, as described herein). The cash out price offered to cash out a bet on the Seahawks may be more beneficial to the bettor, for example, to encourage early cash out. To the extent that a bet on the Seahawks is cashed out before the end of the game, the casino operator may reduce the casino operator's potential net liability with respect to the outcome of the game. In other words, if bets against the Seahawks cash out more than bets against the Patriots, the $40,000 imbalance in the bookmaker will be reduced by the end of the game, resulting in a higher potential liability for the casino operator at the end of the game. Low. For example, if a $40,000 bet on the Seahawks is cashed out before the game results, and no Patriots bets are cashed out, then at the end of the game the casino operator will hold a $10,000 bet on the Seahawks and a $10,000 bet on the Patriots. , casino operators will register balanced bets at this time. (It should be understood that the numbers provided here are simplified numbers used to illustrate the concepts, and these numbers ignore factors such as the different win rates offered to different bets, casino operator commissions, fees, etc.)

A more advantageous price for cashing out Seahawks bets before the end of the game (eg, to reduce the imbalance in the casino operator's wager registry before the end of the game) can be calculated in various ways. Ignoring the imbalance of the bet, the Casino Operator may additionally want to cash out the Seahawks bet to obtain 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 for that bet if it wins; for example, there is a 40% chance of a bet with a $10 payout Sex will win, then the expected value of the bet could be $4.) However, because there is already more volume backing the Seahawks to win, the casino operator may wish to encourage cash-out bets on the Seahawks, e.g., wishing this pricing This will tend to improve the overall balance of bets placed for and against a particular outcome as the outcome is determined. For example, the cash-out price for a bet on the Seahawks may be more favorable to the bettor (e.g., the expected value of 80%). Cashed out Seahawk bets will tend to improve the balance of the bet registry.

In some embodiments, the cash-out price may be determined as follows. The current probability that a bet can be determined to be a winning bet. 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 (e.g., at halftime), calculate an 80% chance that the Seahawks will win by 3.5 points. Therefore, the "expected value" of a $100 bet on the Seahawks can be calculated as $80. One or more charges may be deducted from the expected value, such as casino operator fees, risk premiums, casino operator spreads and other charges. For example, a total of $10 can be subtracted from this value to cover casino operator fees. The price of $70 can be calculated as the cash out price and, for example, if the bookmaker is balanced, $70 can be offered to cash out the Seahawks bet. If the bookmaker becomes unbalanced due to an excess of bets in favor of Seahawks, a modified cash out price may be provided to cash out bets on Seahawks. For example, the cash out price may be increased by an amount such as $5, and thus a price of $75 (instead of $70) may be offered to cash out a $100 bet on the Seahawks during halftime. In some embodiments, the $10 fee may be reduced by an amount such as $5, thereby also resulting in a cash out price of $75. 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 bets placed by the one or more users, for example, to reflect a changed bet registry imbalance.

On the other hand, cashing out Patriot bets will tend to exacerbate imbalances in the betting registry. Therefore, in situations where cashing out a bet would exacerbate a bookmaker imbalance (e.g., in the example above, cashing out a bet on the Patriots), a less favorable cashout price may be offered to bettors wishing to cash out a bet. . For example, during halftime, the expected value of a $100 bet on the Patriots could be calculated to be $20 based on a 20% chance of the Patriots winning. A $10 fee can be subtracted from this price, resulting in a $10 price. Because cashing out bets will tend to increase the bet registry imbalance, this price can be reduced by an amount such as $5, resulting in a cash out price of $5.

In some embodiments, fees ($10 in the example above) may be increased based on the imbalance (to lower cash out prices and therefore discourage cash outs that would exacerbate the imbalance) or to reduce such fees (to improve cash out prices and encourage cash outs). Will improve unbalanced cash out). For example, a percentage change in fees may be determined based on the degree of imbalance. If, for a given betting outcome, the total payout (and/or other liabilities) will exceed the lost betting proceeds (and/or other gains) by a certain threshold amount, the fee may be reduced to balance the cash out or increase (for purposes of unbalancing cash outs) 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 bookmaker is balanced, and 100% may apply when the bookmaker is unbalanced to the extent of $100,000 or more. The fee is reduced by 1% for every $1000 of imbalance between $0 and $100,000. Relatedly, the fee may be increased by a certain percentage based on the current level of imbalance in order to unbalance the cash out. For example, the fee could be increased by 1% for every $1,000 of imbalance. For example, if the current imbalance (potential liability exceeding lost bet proceeds) is $6,400, a cash out fee of 6.4% would apply. In the example above, the $10 fee for cashing out a $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 a $100 bet on the Patriots; and the bet on the Seahawks could be The fee is reduced to $9.36, resulting in a cash-out price of $70.64. Other methods of pricing cash outs based on risk may also be considered.

In some embodiments, an amount that can be added to or subtracted from the initial price (eg, to encourage or discourage cash out) may be determined based on the degree of imbalance. For example, the price spread may be based on risk exposure measured in absolute terms (e.g., dollar amount of exposure) or in relative terms (e.g., the percentage of bets in favor of an outcome compared to the percentage of bets against that outcome). amount.

In some embodiments, the risk management information may be updated over time, such as based on updated odds information and updated betting information (eg, because bets are cashed out and the "imbalance" changes). Similarly, cash-out prices can be updated over time to reflect 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.

It should be understood that betting may include betting 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 may be determined based on the extent to which the "casino operator" entity can use wagering proceeds from losing wagers to cover potential payouts.

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

The method 500 begins at 502, where the sportsbook betting computer system 202 shown in Figure 2 receives a request to place a bettor's bet regarding the outcome of the event.

At 504, the sports betting registry wagering computer system 202 receives an indication as to whether the bettor has chosen to purchase an option that will be exercised by the bettor at his or her discretion during the game interruption or indicated period so that the bettor receives compensation for canceling the bet.

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

Additionally, in some embodiments, the sports ticket buyback option may be automatically sold or included as part of the bet placed by the bettor, and the bettor is automatically charged without prompting the bettor to indicate whether the bettor needs to purchase. Wagering Registry Note Sale Option.

6 illustrates a method 600 of electronically determining an amount to be refunded to a bettor utilizing a sports betting registry bet that the bettor previously purchased, according to one illustrative embodiment, useful in the method of FIG. 5 Note repurchase option. For example, during a designated game break during a sporting event, or in some embodiments, at any time from the moment a bet is placed until the conclusion of the sporting event, the sports betting registry wagering computer system 202 may receive that the bettor is Upon the instruction to exercise the purchased option, and in response to the received instruction that the bettor is exercising the purchased option, the sportsbook betting computer system 202 determines the amount to be refunded to the bettor according to method 600 . Although the method 600 described below includes determining an amount to be refunded to a bettor based on the odds of whether the bettor will win the bet, the amount to be refunded to the bettor may be based on any matter. For example, the amount refunded to bettors may be based on (including but not limited to): probability methods, random methods, recommendations from individuals or entities, votes, fixed amounts, etc. In various embodiments, the amount refunded to a bettor may be any percentage of the original bet placed by the bettor, a single amount, or any combination of the two.

The method 600 begins at 602, where the sportsbook betting computer system 202 shown in FIG. 2 determines the current probability (eg, percentage chance) of whether the bet placed by the bettor will win at the break or indicated period. .

At 604, the sportsbook betting computer system 202 subtracts the determined amount (eg, percentage, flat fee, or a combination of both) from a number reflecting the current odds (eg, percentage chance) to obtain a multiplier.

At 606, the sportsbook betting computer system 202 multiplies the multiplier by the amount that would be paid to the bettor if the bettor would win the bet to obtain a bettor refund amount factor.

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

The method may further include changing the amount of the amount refunded to the bettor at any time during the sporting event before a designated game break or indicated period, or before the end of the event on which the bet is placed, the change in the amount being refunded to the bettor by electronic sports. Betting Registry Betting System Instructions.

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

For example, the method may include communicating the determined amount to the bettor at any point in time ranging from the moment the bet is recorded to a point in time during a break in play or indicated period during the sporting event. Receiving an instruction from a bettor to exercise an option may include receiving an instruction from a bettor to exercise a purchased option during a break or instruction period during a sporting event.

The method may further include communicating the determined amount to the bettor in response to an instruction received by the bettor to exercise the purchased option.

Upfront and non-refundable costs or fees charged to bettors for purchasing buyback options and fees charged at 604 and 608 are determined by the Sports Betting Registry. Such fees may vary depending on, for example, the individual sporting event, type of bet, or even from time to time (eg, the day of the week on which bets are placed and/or the day of the week on which 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 interest among current bettors and attracting new bettors. In addition to waiving fees, Registry may also incentivize the purchase and/or redemption of Registry Note Put Option by offering casino compensation ("Coupons"), which Casino Compensation may include, but is not limited to: Fees or discounts on hotel rooms, show tickets, meals, drinks, gift certificates and more.

7 shows a method 700 for electronically issuing tickets indicating bets associated with a sports betting registry bet ticket resale option, according to one illustrated embodiment.

The method 700 begins at 702, where the sportsbook betting computer system 202 shown in Figure 2 receives an indication that a bettor has placed a bet regarding the outcome of the event.

At 704, the sports betting registry wagering computer system 202 receives an instruction that the bettor has paid an option fee to purchase an option that will be exercised by the bettor at will during the game interruption or instruction period so that the bettor receives compensation for the cancellation. Bet.

At 706, the sportsbook betting computer system 202 issues a ticket to the bettor indicating the bet associated with the purchased option. As mentioned above, a sports betting registry ticket may be, for example, an electronic ticket issued electronically by providing a code associated with the electronic ticket to the bettor, or by causing the issued electronic ticket to be associated with the bettor's account or Other bettor credentials are associated.

8 illustrates a method 800 for electronically initiating payment to a bettor who is exercising a sports betting registry wager ticket resale option that the bettor previously purchased, according to one illustrated embodiment.

Method 800 begins at 802, wherein the sportsbook betting computer system 202 or payment computer system 262 shown in Figure 2 receives an indication that the bettor is exercising an option during a game interruption or instruction period, and the exercise option is For punters to receive compensation for the cancellation of bets previously placed by punters on the outcome of an event.

At 804, the sports betting registry wagering computer system 202 or payment computer system 262 determines the amount to refund the bettor in response to the instruction received that the bettor is exercising the option.

At 806, the sports betting registry wagering computer system 202 or the payment computer system 262 begins disbursing the refund amount to the bettor. The amount refunded to the bettor may be paid in currency, in the form of a credit or any item of value to the bettor, including casino compensation ("Compensation"), which casino compensation may include, but is not limited to: fees or Discounted hotel rooms, show tickets, meals, drinks, gift certificates and more.

At 806, the sportsbook betting computer system 202 or payment computer system 262 then cancels the bet. For example, a bet may be removed from the sportsbook betting computer system 202 or otherwise indicated by the sportsbook betting computer system 202 as canceled, invalid, or no longer valid. Sell-back option with multiple application options

According to another example of a sell-back option, in conjunction with the bettor/customer/user placing/staking a bet on the event with a stake amount W, and/or thereafter, the bettor may be presented with a purchase option to cancel/clear/back Sell bets as a reward for refund/refund amount/refund amount/cancellation amount/cancellation amount R/opportunity to exchange refund/refund amount/refund amount/cancellation amount/cancellation amount R. In conjunction with presenting an opportunity to purchase an option, the bettor may also be provided/presented with a plurality (e.g., two or more) of choices as to when the option may be exercised, or in other words, as to when the option may be exercised. Multiple selections that can be expired. For example, four choices may be present, but fewer or more choices may be presented. Therefore, the bettor may have the option to purchase a product with a first usage time X1, a second usage time X2, a third usage time X3 and/or a fourth usage time X4, or in other words, with expiry X1, X2, X3 and/or X4 The choice of options. According to this example, expiration/use time X4 can succeed/after expiration/use time X3, expiration/use time After X1. According to another aspect of this example, the refund amount R may be the same regardless of which expiry/use time option(s) the bettor may choose. Additionally, according to this example, each usage time may have an associated price/cost/fee, such that usage time X1 has a price P1, usage time X2 has a price P2, usage time X3 has a price P3, and usage time X4 has a 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 less than P2, P2 may be less than P3, and P3 may be less than P4. In other words, a longer expiration time can have a larger price.

Therefore, according to this exemplary sell-back option, in conjunction with placing/playing the bet and/or thereafter, the bettor may purchase the option to cancel/clear the bet in return for a refund amount R. Additionally, the bettor may choose as to how much time the bettor would like to make a decision as to whether to cancel/clear the bet by exercising the option, e.g., up to and/or including exercising time X1, up to and/or including The later usage time X2 is up to and/or including the further later usage time X3, or up to and/or including the further later usage time X4. According to this example, the more time the bettor wants, the higher the price the bettor can pay for the option. Additionally, each use time can have the same refund amount R, with the difference being that the bettor can pay more to get extra time to make a decision.

As an example, a bettor may place a $100 bet on a football game, such as a Packers vs. Bears game. In conjunction with and/or after placing this bet, the bettor may be presented with the purchase option to clear/cancel the bet with the possibility of receiving a refund of 25% of the bet amount or $25. In addition, four expiration times can be presented to the user, each expiration time has a different price: ● Cost $2.50: Bettors may exercise the option at any time up to and possibly including the end of the first quarter (for example, before the start of the second quarter) to receive a $25 refund. ● Cost $5.50: Bettors may exercise the option at any time up to and possibly including the end of the second quarter (for example, before the start of the third quarter) to receive a $25 refund. ● Cost $9.00: Bettors may exercise the option at any time up to and possibly including the end of the third quarter (for example, before the start of the fourth quarter) to receive a $25 refund. ● Cost $12.50: Bettors may exercise the option at any time up to and possibly including the 2-minute warning in the fourth quarter (ie, before play begins after the 2-minute warning) to receive a $25 refund.

Therefore, bettors who decide to purchase an option can choose the desired expiry/exercise time for that option. The price of an option may be a price associated with a selected expiry/exercise time. Thereafter, the bettor may choose to exercise the option at any time up to and/or including, for example, the selected expiry/exercise time and receive in return a refund amount R, thereby canceling/clearing the original bet. If the expiration time passes without the bettor using the option, the option expires and the bettor's bet remains intact/uncancelled and the user can win or lose the bet based on the outcome of the event betted on.

Those skilled in the art will recognize that in conjunction with and/or after a bettor places a bet, the bettor may be presented with the possibility of purchasing any one or more of a plurality of options to clear/cancel the bet, rather than for The bettor is presented with the possibility of purchasing the option and the option has a plurality of application times that the bettor can choose from. Here, each option may have the same refund amount R, but each option has a progressively longer exercise time, and each option has a progressively larger price. Using again the above example of a bettor placing a $100 bet on a football game, such as a Packers vs. Bears game, the bettor may be presented with the option to purchase any one or more of four options to clear/cancel the bet for 25% of the bet amount. % or $25 of the 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 (e.g. 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 (e.g. before the start of the third quarter) to receive 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 (e.g. before the start of the fourth quarter) to receive 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 (e.g. before play begins after the 2-minute warning) to receive $25 more 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 putback option, the refund offered to the bettor (and which the bettor may subsequently receive upon exercising the option) may be selected in conjunction with each exercise/expiration time of a given option. The payment/cancellation amount R can be the predetermined amount. In other words, the refund amount associated with each of the exercise/expiry time selections may be determined and communicated to the bettor when an offer to purchase the option is made/when the bettor is considering purchasing the option. , so that the bettor knows the refund amount he/she will receive if he/she purchases an option with a selected exercise time and later decides to exercise the option. The refund amount may be a guaranteed amount. In other words, the refund amount allows the bettor to know that if the bettor purchases the option and later decides to exercise the option, the bettor is guaranteed to receive the refund amount (e.g., exactly the refund amount determined, or at least at a minimum is the determined refund amount).

The refund/cancellation amount R provided for each use/expiration time option combined with a given option can be determined in various ways. For example, regardless of the stake placed (e.g., regardless of the amount wagered, regardless of the amount/potential amount the bettor would definitely win (i.e., payout) for the bet 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 play times associated with the options offered may be the same amount, and this amount may be the same for all bettors. The sports betting registry, for example, can set refund amounts. As another and/or additional example, the refund amount may change depending on when the option is purchased by the bettor. For example, assuming that the option can be purchased until a certain set time (the set time can be: before and/or including the start of the event, a certain set time after the start of the event, etc.), the refund amount can be Changes depending on when the option is purchased relative to that set time. For example, assuming that an option can be purchased until one minute before the start of the event being bet (the set time), if the option is purchased at any time of the day up to the set time, the refund amount can be the first amount, and if after that , if the option is purchased at any time up to the set time, the refund amount may be the second amount. The refund amount may be reduced the closer the option is purchased to the set time. Alternatively, the refund amount may increase the closer the option is purchased to the set time. As the set time approaches, the refund amount can be changed at a preset time (which may or may not be made known to the bettor), such as: one week before, one day before, twenty-four hours ago, one hours before waiting. As another and/or additional example, for a given sporting event (e.g., let's say football), the refund amount may be the same amount for each game played on a given day, or across games played on that day. Or more may be different (for example, each bettor who bets on Game A and uses the associated option may receive a refund amount R1, and each bettor who bets on Game B and uses the associated option may receive Different refund amounts R2). As another example and/or additional example, the refund amount 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.

According to another and/or additional example, the refund amount R may be determined based on the wager amount W of the bet associated with the option. For example, the refund amount may be a predetermined percentage of the bet amount W. The sports betting registry, for example, may set this percentage. For example, if a bettor bets $100 on an event and the predetermined percentage is 25%, when the option is exercised, the bettor receives $25 ($100 The refund amount associated with each usage time of the option given to bettors may be $25). The predetermined percentage may change depending on when the option is purchased. For example, assuming the option is available for purchase until a certain set time, the percentage may change depending on when the option is purchased relative to that set time. For example, assuming that an option is available for purchase until one minute before the start of the event being bet on, the percentage could be the first amount if the option is purchased at any time of the day up to that set time, and if after that, until the set time Any time the option is purchased, the percentage may be the second amount. This percentage can be reduced the closer the option is purchased to the set time. Alternatively, the percentage can increase the closer the option is purchased to the set time. As the set time approaches, the percentage can change at a preset time (which may or may not be 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, the percentage may vary depending on the size of the bet amount W. For example, the larger the bet amount, the percentage can be reduced. Alternatively, the percentage can be increased for larger stakes. As an example, bet amounts may be categorized into multiple ranges, and a percentage associated with each range. As another and/or additional example, the percentages may vary based on the payout/potential estimated payout that the bettor will surely win for the bet associated with the option. For example, the larger the payout, the percentage may be reduced. Alternatively, the percentage can be increased the larger the payout. As an example, payouts may be categorized into multiple ranges and a percentage associated with each range. As another and/or additional example, for a given sporting event (e.g., assuming football), the percentages may be the same for each game on a given day, or across one or more 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 example in which the refund amount R is determined based on the bet amount W, the bet amount can be broken down into multiple ranges, and each range has an associated refund amount. For example, the larger the bet amount, the refund amount can usually be reduced. Alternatively, the refund amount can generally increase the larger the bet amount. As another example and/or additional example, the refund amount for one or more of these ranges may change depending on when the option is purchased. For example, assuming that options are available for purchase until a certain set time, the refund amount for one or more of the ranges may change depending on when the option is purchased relative to that set time. Generally, the closer the option is purchased to the set time, the refund amount across these ranges can be reduced. Alternatively, the refund amount across those ranges may increase the closer the option is purchased to the set time. As the set time approaches, the refund amounts across these ranges can be changed at preset times (which may or may not be known to bettors), such as: one week ago, one day ago, twenty Four hours ago, one hour ago, etc. As another and/or additional example, for a given sporting event (e.g., let's say football), ranges and/or refund amounts across such ranges may be the same amount for each game on a given day, or across One or more of the games played during that day may be different. As another and/or additional example, ranges and/or refund amounts across such ranges may be the same across different sporting events (e.g., 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 the amount staked and in ways other than those discussed herein. As another and/or additional example, the sell-back option may not be made available to bettors for bet amounts of a specified size/amount or greater. As another example, the sell-back option may not be made available to the bettor unless the bet amount has a minimum size/amount. The sports betting registry may, for example, specify the betting amount for which options are available/unavailable. As yet another and/or additional example, the stake amount used to determine the refund amount may be capped. In other words, when a bettor bets an amount greater than a specified upper limit amount, the bet amount used to determine the refund amount can be set at the upper limit amount. For example, assuming that the refund amount can be a predetermined percentage of the bet amount W (assuming 25%) 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 (i.e., $25) instead of 25% of $110. A sports betting registry, for example, may specify a cap amount. Other variations are possible.

According to another and/or additional example, the refund amount may be determined based on the payout/potential estimated payout that the bettor would surely win for the bet associated with the option. For example, the refund amount may be a predetermined percentage of the payout/potential payout. The sports betting registry, for example, may set this percentage. For example, if a bettor is guaranteed to win $100 on a bet and the predetermined percentage is 25%, then when the option is exercised, the bettor receives $25 ($100 x 25%) regardless of the time the bettor chooses to exercise it (i.e. , the refund amount associated with each time of use of the option offered to the bettor may be $25). As similarly discussed above, the predetermined percentage may change depending on when the option is purchased. For example, the percentage can be reduced the closer the option is purchased to the set time. Alternatively, the percentage can increase the closer the option is purchased to the set time. As the set time approaches, the percentage can 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 ago Wait before. As another example and/or additional example, the percentage may vary depending on the size of the payout/potential payout. For example, the larger the payout/potential payout, the percentage may be reduced. Alternatively, the percentage can be increased the larger the payout/potential payout. As an example, payouts/potential payouts may be categorized into multiple ranges, and a percentage associated with each range. As another example and/or additional example, the percentage may vary based on the bet amount. For example, the larger the bet amount, the percentage can be reduced. Alternatively, the percentage can be increased for larger stakes. As an example, bet amounts may be categorized into multiple ranges, and a percentage associated with each range. As another and/or additional example, for a given sporting event (e.g., let's say football), the percentages may be the same for each game on a given day, or across one or more 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 in which the refund amount R is determined based on a 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 refund amount may generally be reduced. Alternatively, the refund amount can generally increase the larger the payout/potential payout. As another example and/or additional example, the refund amount for one or more of these ranges may change depending on when the option is purchased. For example, the closer an option is purchased to the set time, the refund amount across those ranges may be reduced. Alternatively, the refund amount across these ranges may increase the closer the option is purchased to the set time. As the set time approaches, the refund amounts across these ranges can be changed at preset times (which may or may not be known to bettors), such as: one week ago, one day ago, twenty Four hours ago, one hour ago, etc. As another and/or additional example, for a given sporting event (e.g., let's say football), ranges and/or refund amounts across such ranges may be the same amount for each game on a given day, or across One or more of the games played during that day may be different. As another and/or additional example, ranges and/or refund amounts across such ranges may be the same across different sporting events (e.g., 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, the putback option may not be made available to bettors for payouts/potential payouts of a specified size or greater. The sports betting registry may, for example, specify payouts/potential payouts for which options are available/unavailable. As yet another and/or additional example, the payout/potential payout used to determine the refund amount may be capped. 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 can be set at the upper limit amount. The sports betting registry may, for example, specify a cap amount. Other variations are possible.

Turning to a further exemplary aspect of this exemplary putback option, regardless of the bet/amount wagered and/or regardless of the payout/potential estimated payout that the bettor will surely win, with each exercise time The associated price can be a set/constant amount. Therefore, the same price can be presented to every bettor. A sports betting registry, for example, can set prices. According to another example and/or additional examples, one or more of the prices may be determined based on the stake amount W of the bet associated with the option. As yet another and/or additional example, the amount bet used to determine the price may have an upper limit. In other words, when a bettor bets an amount greater than a specified upper limit amount, the bet amount used to determine the price can be set at the upper limit amount. According to another and/or additional example, one or more of the prices may be determined based on a payout/potential estimated payout that a bettor would surely win for a bet associated with the option. As yet another and/or additional example, the payout/potential payout used to determine the price may have an upper limit. In other words, when the payout/potential payout is greater than a specified upper limit amount, the payout/potential payout used to determine the price can be set at the upper limit amount. As yet another and/or additional 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 the closer the time to purchase the option is to the set time. Alternatively, one or more of the prices may increase the closer the option is purchased to the set time. As another and/or additional example, for a given sporting event (e.g., let's say football), one or more of the prices may be the same amount for each game played within a given day, or across games played within that day. One or more of the players in the game 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, assuming 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 putback option, the exercise/expiry time choices that may be offered to bettors in connection with a given option may be defined in various ways. For example, one or more of the exercise times 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 specified amounts of time after the start of the sporting event, such as 15 minutes after the start of the event, 30 minutes after the start of the event, etc.; ● One or more designated times during a game, such as the end of one or more quarters in football, the end of one or more innings or half-innings in baseball, one or more times in hockey (including breaks) ), the end of one or more rounds in boxing, one or more furlongs in horse racing, such as the completion of one or more laps by the lead car after the start of racing, etc.; and/or ● One or more specific events in a sports event occur, such as the occurrence of the first field goal, the occurrence of the nth field goal, the occurrence of a team's score, the occurrence of the first team's z-point, etc.

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

According to further exemplary aspects of this exemplary sell-back option, the option may be provided to the bettor in conjunction with and/or thereafter placing a bet on the event. In either case, the bettor may be required to purchase the option when it 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 set time prior to and/or including the start of the event, a set time after the start of the event, etc. The option is available for purchase until a set time prior to the first exercise/expiry time provided in conjunction with the option. For example, consider the exemplary options discussed herein in conjunction with the Packers vs. Bears game until a set time prior to the end of the first quarter, or in other words, until the application/expiration time at a cost of $2.50 At a set time, the option becomes available for purchase.

According to another and/or additional example, the number of play/expiry time choices offered to a bettor may change depending on when the bettor is offered an offer to purchase the option and/or when the bettor decides to purchase 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 offered a purchase along with selecting any of four application/expiration times. Possibility of options. If a bettor declines to purchase the option at that time, but later decides that he/she wants to purchase the option, one, two, or all three of the apply/expiry time choices may no longer be available. For example, bettors can no longer select a play/expiry time that costs $2.50. This may occur, for example, if the end of the first quarter is too close to the time when the bettor decides to purchase the option and/or has already occurred when the bettor decides to purchase the option. As another example, assuming a first bettor bets on a game at one time and a second bettor bets on the game at a later time, the second bettor may be offered a better bet than the first bettor. Less use/expiration options. For example, a first bettor may be provided with all four choices, while a second bettor may be provided with three, two, or only one of these choices. For example if a first bettor places a bet before the start of the match and a second bettor places a bet after the start of the match (such as near the first quarter and/or after the first quarter), then This can happen. Other variations are possible.

According to a further exemplary aspect of this exemplary putback option, once a bettor has selected an exercise/expiration time and purchased the option, there may be a specified time period up to the selected exercise time at which the bettor may exercise the option. point (e.g., discrete point). For example, bettors may be allowed to exercise their options only between plays (that is, when action in a match is stopped). 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, among the choices offered to a bettor regarding exercise/expiration times for a given option, one or more of the exercise/expiration times may have different implications regarding how and/or when the bettor may exercise the option. guidelines.

According to further exemplary aspects of this exemplary putback option, a bettor may place a bet and pay the bet amount W with cash, using an established account, points (such as coupon points), credit, etc. Similarly, bettors may purchase options with cash, using established accounts, points (such as coupon points), credits, etc. Similarly, the refund amount R may be paid to the bettor in the form of cash, account debit, points (such as coupon points), credit, etc. According to one example, a user can 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 bets and/or options are 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 putback option as applicable to e.g. rugby (but other sports and/or events may apply), a combined bet/placement of a bet with a stake amount W and/or thereafter, may be The player is presented with the possibility of purchasing the option to clear/cancel the bet in exchange for a refund amount R, which may be a defined percentage of the bet amount W. The defined percentage may be a value between 20% and 30%, such as 25%. Additionally, bettors may be presented with up to four and/or possibly more (or fewer) use/expiry times, each with a different price: ● Cost $A: The bettor may exercise the option at any time up to and possibly including the end of the first quarter (for example, before the start of the second quarter) to receive a $25 refund. ● Cost $B: Bettors may exercise the option at any time up to and possibly including the end of the second quarter (for example, before the start of the third quarter) to receive a $25 refund. ● Cost $C: Bettors may exercise the option at any time up to and possibly including the end of the third quarter (for example, before the start of the fourth quarter) to receive a $25 refund. ● Cost $D: Bettors may exercise the option at any time up to and possibly including the 2-minute warning in the fourth quarter (ie, before play begins after the 2-minute warning) to receive a $25 refund.

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, cost C may be a cost 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 bets and/or associated putback options according to this example may be made through the use of one or more computing systems, through the use of one or more employees/agents (e.g., employees/agents of a sports betting registry) or any combination of the foregoing presented to, purchased by, and/or exercised by the bettor as similarly discussed herein with respect to other exemplary putback options. For example, each of the bets and/or associated putback options may be presented to the system 100 and/or 200 and/or one or more employees/agents (e.g., employees/agents of a sports betting registry) bettor, purchased by bettor and/or used by bettor. For example, each of the bets and/or associated putback options according to this example may be made entirely electronically, entirely through the use of one or more employees/agents (e.g., employees/agents of a sports betting registry) ( such as at the counter) or some combination of the above is presented to, purchased by, and/or used by the bettor. Similarly, each of the bets and/or associated putback options according to the present example may be placed electronically (such as via the use of systems 100 and/or 200) by one or more employees/agents (e.g., sports betting registration employees/agents) or any combination of the foregoing.

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 Figure 9, an exemplary method 900 for offering, purchasing, and exercising options is shown. At step 902, a request to place a bet on the event may be received from a user. At step 904, the user may be presented with the option to cancel the bet in exchange for a refund amount for the purchase. Presenting the option may include presenting at least a first usage time and a second usage time for the user to select, the first usage time has a first fee associated with the first usage time and the second usage time has a cost associated with the first usage time. 2. The second fee associated with the usage time. The price of the option may be based on a fee associated with the usage time selected by the user. The selection of the first usage time may allow the user to cancel the bet in exchange for a refund amount at least before the first usage time, and the selection of the second usage time may allow the user to cancel the bet in exchange for a refund amount at least before the second usage time. . 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 that the user is purchasing the option may be received. At the time of purchase, the user can also receive the selection of the first use time and/or the second use time. At step 908, an indication that the user has paid for the option may be recorded (such as on/on a memory device, paper, etc.), the price of the option being based, for example, on a fee associated with the usage time selected by the user. At step 910, an indication that the user is exercising the option may be received. A determination may then be made as to when the indication was received relative to the operating time (step 912). If the instruction is received at least before the selected play time, at step 914 the bet may be canceled in exchange for a refund amount. In the alternative, if the indication is received after the selected exercise time, for example, at step 916, the option may expire, the user's bet may remain intact/uncancelled, and the user may base the bet on the event As a result, you win or lose the bet. As another alternative, the selected exercise time may elapse without the user exercising the option/receiving no indication that the user is exercising the option. Again, at step 916, the option may expire, the user's bet may remain intact/uncancelled, and the user may win or lose the bet based on the outcome of the event bet on.

Referring now to Figure 10, another exemplary method 1000 for offering, purchasing, and exercising options is shown. At step 1002, a request to place a bet on the event may be received from a user. At step 1004, the user may be presented with a plurality of options to cancel the bet 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 a refund amount at least before the first application time, and the selection of the second option may allow the user to cancel the bet in exchange for a refund amount at least before the second application time. . The refund amount associated with each of the first option and the second option may be the same amount. At step 1006, an indication that the user is purchasing at least one of the first option and the second option may be received. At step 1008, an indication that the user is exercising the purchased option may be received. A determination may then be made as to when the indication was received relative to the exercise time associated with the purchased option (step 1010). If the instruction is received at least before the exercise time associated with the purchased option, at step 1012 the bet may be canceled in exchange for a refund amount. In the alternative, if the indication is received after the exercise time associated with the purchased option, for example, at step 1014, the option can expire and the user's bet can remain intact/uncancelled, and use You may win or lose your bet based on the outcome of the event you bet on. As another alternative, the exercise time associated with the purchased option may elapse without the user exercising the option/receiving no indication that the user is exercising the purchased option. Again, at step 1014, the option can expire, the user's bet can remain intact/uncancelled, and the user can win or lose the bet based on the outcome of the event bet on. Sell-back options with multiple usage periods

According to another example of a sell-back option, a bettor/customer/user may be associated with placing/placing a bet on an event with a bet amount W, and/or thereafter, the bettor may be presented with a purchase option for price P to cancel/ Opportunity to clear/sell back 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) exercise/expiration times associated therewith. For example, there may be four usage/expiration times (but fewer or more usage times may be used), such as: first usage time X1, second usage time X2, third usage time X3, and fourth usage time X4, or In other words, there are four options for using the time X1, X2, X3 and X4. According to this example, the use/expiration time X4 can succeed/become after the use/expiration time X3, the use/expiration time After X1, but other changes are possible. Therefore, if a bettor purchases an option, the bettor can exercise the option/cancel the bet based on any of the application times X1, X2, X3 and/or X4. According to one version of this example, the price P of the option can 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 that usage time X1 has a refund amount R1 , usage time X2 has a refund amount R2 , usage time Time X3 has a refund amount R3, and usage time X4 has a refund amount R4. According to this example, one or more of the refund amounts R1, R2, R3, and R4 may be different, and in particular, each of the refund amounts R1, 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 can have smaller refund amounts. However, other variations are possible, including R1 being less than R2, R2 being less than R3, and R3 being less than R4. Therefore, according to this exemplary option, given that the event being bet on has a specific duration, for example, the refund amount that the 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 event when the option is exercised.

Therefore, according to this exemplary putback option, in conjunction with placing/playing the bet and/or thereafter, the bettor may purchase the option to cancel/clear the bet at price P. When presenting the option, bettors may also be presented with correlations such as application/expiration times X1, X2, X3 and X4 (where, for example, X1<X2<X3<X4) associated with the option. joint table. For each usage/expiration time, the bettor may also be presented with associated refund amounts, such as R1, R2, R3 and R4. Therefore, assuming a bettor purchases an option for price P, the bettor can then choose to do any one (or more) of the following: ●                                               Exercise the option (thus canceling/clearing/selling back the bet) at a time up to and/or including the exercise time X1, and in return, receive a refund amount R1; ●                                                          Exercise the option (thereby canceling/clearing/selling back the bet) at time X1 and/or at a time after X1 up to and/or including the application time X2, and in return, receive a refund amount R2; ●                                                    Exercise the option (thus canceling/clearing/selling back the bet) at time X2 and/or at a time after X2 and up to and/or including the application time X3, and in return, receive a refund amount R3; ●                                    Exercise the option (thereby canceling/clearing/selling back the bet) at time X3 and/or at a time after X3 and up to and/or including the exercise time X4, and in return, receive a refund amount of R4; or ●                                                                                                                 both being won or lost by not exercising the option, leaving the bet as is.

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.

As an example, a bettor may place a $100 bet on a football game, such as a Packers vs. Bears game. In conjunction with and/or after placing this bet, the bettor may be presented with the possibility of clearing/cancelling the bet by purchasing an option for a price such as $10. The option can also include four usage/expiration times, each with a different refund amount: ● Exercise Time 1: A bettor may exercise the option at any time up to and possibly including the end of the first quarter (for example, before the start of the second quarter) to receive a $25 refund. ● Application Time 2: Bettors can place bettors at the end of the first quarter and/or after the end of the first quarter, and at any time up to and possibly including the end of the second quarter (e.g. , prior to the start of the third quarter), exercise the option to receive a $20 refund. ● Application Time 3: Bettors can place bettors at the end of the second quarter and/or after the end of the second quarter, and at any time up to and possibly including the end of the third quarter (e.g. , before the start of the fourth quarter) to exercise the option to receive a $15 refund. ● Application Time 4: Bettors may place bets at the end of the third quarter and/or after the end of the third quarter up to and possibly including the 2-minute warning in the fourth quarter. Use the option at any time (for example, after the 2-minute warning and before starting play) to receive a $10 refund.

Turning to a further exemplary aspect of this exemplary putback option, a refund/cancellation amount may be provided to the bettor for each exercise/expiry time of a given option and the bettor may subsequently receive upon exercise of the option. R can be a predetermined amount. In other words, the refund amount may be determined and communicated to the bettor at the time the bettor is offered to purchase the option/while the bettor is considering purchasing the option, so that if the bettor purchases the option and later decides to exercise it option, the bettor knows the refund amount he/she will receive based on when the option is exercised. The refund amount may be a guaranteed amount.

As similarly discussed herein, one or more of the refund amounts for each of the associated exercise times of a given option may be a set/constant amount, which may be related to the wagered amount W (e.g., each refund amount The amount may be a set percentage of the bet amount R), may be related to the payout/potential payout on the bet, may change depending on when the option is exercised, may or may not occur across games/events of the same type and/or different types changes, etc., or any combination of the above. Again, if the refund amount is related to the stake amount and/or payout, a cap amount may be used, as similarly discussed herein. As also discussed herein, if the bet amount and/or payout are excessively large, and/or unless the bet amount and/or payout are of a minimum size, the sellback option under this example may not be available to the bettor. Other variations are possible.

As similarly discussed herein, regardless of the bet/amount wagered and/or regardless of the payout/potential estimated payout that the bettor may be certain to win, the terms associated with this exemplary putback option Price can be a set/constant amount. Therefore, the same price can be presented to every bettor. A sports betting registry, for example, can set prices. According to another and/or additional example, the amount of the bet associated with the option may be staked and/or based on the payout/potential estimated payout that the bettor may surely win for the bet associated with the option. Determine the price. Again, if the price is related to the stake amount and/or payout, then a cap amount may be used, as similarly discussed herein. As another and/or additional example, the price may change depending on when the option is purchased by the bettor, may or may not change across the same type and/or different types of games/events, 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 differently. For example, one or more of the exercise/expiration times associated with the option may be a specific time of day, and another may be a specified time during the event, such as the end of a quarter in football. As another example, one or more of the exercise/expiry times may be prior to the start of the event and/or during the event the option is associated with the event. Other variations are possible.

According to further exemplary aspects of this exemplary putback option, the option may be provided to the bettor in connection with placing/placing a bet on the event and/or thereafter. In either case, the bettor may be required to purchase the option when it 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, the option may be available for purchase, for example, up to a certain time prior to and/or including the start of the event, a set time after the start of the event, etc. The option is available for purchase until a time prior to the first exercise/expiration time provided in conjunction with the option. Other variations are possible.

According to another and/or additional example, the number of exercise/expiry times associated with an option may vary/change depending on when the bettor is offered an offer to purchase the option and/or when the bettor decides to purchase 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 that the bettor declines to purchase the option at that time, but later decides that he/she wants to purchase the option, one, both, or all three of the exercise/expiration times may no longer be associated with the option. For example, the option may no longer include "Use Time 1". This may occur, for example, if it is too close to the end of the first quarter and/or the end of the first quarter has already occurred when the bettor decides to purchase the option. 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 later, second time, the second bettor may be offered a bet that has a higher value than the first bettor. The option of less usage/expiration time. For example, the first bettor may be offered the option of having all four use/expiry times, while the second bettor may be offered the option of having three, two, or only one of the use/expiration times. For example if a first bettor places a bet before the start of the match and a second bettor places a bet after the start of the match (such as near the first quarter and/or after the first quarter), then This can happen. Other variations are possible.

According to further exemplary aspects of this exemplary putback option, once a bettor has purchased the option, there may be designated points (e.g., discrete points) during the time period up to each exercise time that the bettor may exercise the option. ). For example, bettors may be allowed to exercise their options only between plays (that is, when action in a match is stopped). 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 regarding how and/or when a bettor may exercise the option.

Each of the bets and/or associated putback options according to this example may be made through the use of one or more computing systems, through the use of one or more employees/agents (e.g., employees/agents of a sports betting registry) or any combination of the foregoing presented to, purchased by, and/or exercised by the bettor as similarly discussed herein with respect to other exemplary putback options. For example, each of the bets and/or associated putback options may be presented to the system through the use of systems 100 and/or 200 and/or one or more employees/agents (e.g., employees/agents of a sports betting registry) bettor, purchased by bettor and/or used by bettor. For example, each of the bets and/or associated putback options according to this example may be made entirely electronically, entirely through the use of one or more employees/agents (e.g., employees/agents of a sports betting registry) ( such as at the counter) or some combination of the above is presented to, purchased by, and/or used by the bettor. Similarly, each of the bets and/or associated putback options according to the present example may be placed electronically (such as via the use of systems 100 and/or 200) by one or more employees/agents (e.g., sports betting registration employees/agents) or any combination of the foregoing.

Referring now to Figure 11, an exemplary method 1100 for offering, purchasing, and exercising options is shown. At step 1102, a request to place a bet on the event may be received from the user. At step 1104, the user may be presented with the option to cancel the bet for purchase at a price. The option may include a plurality of usage times, and the plurality of usage times include at least a first usage time and a second usage 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 a first refund amount before the first use time and/or at the first use time and/or at the first use time and/or after the first use time and Cancel the bet before and/or during the second usage time in exchange for the second refund amount. At step 1106, an indication that the user is purchasing the option may be received. At step 1108, an indication that the user is exercising the option may be received. A determination may then be made as to when the indication was received relative to the exercise time associated with the option (step 1110). If the instruction is received before and/or at the first exercise time associated with the option, then at step 1112 the bet may be canceled in exchange for the first refund amount. If the instruction 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 , cancellation may be made. Bet in exchange for a second refund amount. In the alternative, if the instruction is received during and/or after the second exercise time associated with the option, the option may expire at step 1116 and the user's bet may remain unchanged / Without cancellation, users can win or lose bets based on the outcome of the event they bet on. As another alternative, all exercise time associated with the option may elapse without the user exercising the option/receiving no indication that the user is exercising the option. Again, at step 1116, the option can expire, the user's bet can remain intact/uncancelled, and the user can win or lose the bet based on the outcome of the event bet on. Option restrictions

According to another exemplary aspect of any of the putback options discussed herein, for example, if a bettor purchases the 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 betting registry) to place another bet or bets. According to one example, a bettor may not be allowed to combine a refund amount with the bettor's additional funds (eg, cash, credit amount, etc.) when placing a new bet. According to another example and/or additional examples, when placing a new bet, the bettor may be allowed to combine the refund amount with the bettor's additional funds (eg, cash, credit amount, etc.). This restriction may be communicated to the bettor when the bettor is presented with the opportunity to purchase the option and/or when the bettor is purchasing the option.

According to one example, when the bettor exercises the option, the bettor may be required to immediately place one or more new bets 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 betting registry), the employee/agent may require the bettor to place another bet(s).

According to another and/or additional example, when the bettor exercises the option, 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 bets. Instead, the bettor may be given an unlimited amount of time to place one or more new bets using the refund amount (or a defined portion of the refund amount). As another and/or additional example, the bettor may be given a certain time limit to use the refund amount (or a defined portion of the refund amount) to place one or more new bets. If the bettor does not place a new bet when this time comes, the bettor forfeits/loses the refund. As another example, bettors may be given until a specific event to place one or more new bets 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 forfeit/lose the refund. For example, if a bettor applies his option during halftime of a football game, the bettor has until the end of the game to place a new bet. Other events are possible.

As another example, bettors may be given a gradual time/schedule of events to use the refund amount. For example, assuming that the bettor may be required to use the entire refund amount to place one or more new bets, the bettor may have the entire refund amount available for new bets up to time T1. After T1, the bettor can lose a defined percentage/portion of the refund amount and the remaining refund amount must be used until the later time T2. After T2, the bettor can lose another defined percentage/portion of the refund amount, and it is not until a later time, T3, that the remaining refund amount must be used, etc. As an example, if the bettor does not wager a defined portion before the trigger, the bettor may lose only a portion of the refund amount at each time/event transition. According to another example, a bettor may lose a portion of the refund amount on each trigger, regardless of what the bettor has bet so far. Other variations are possible. As an example, assuming a bettor has a refund amount of $10 and loses 25% of the refund amount at each of T1, T2, etc., the bettor may have $10 to use for a new bet until time T1. If the bettor fails to place a new bet when T1 arrives, from T1 to T2 the bettor now has $7.50 to place one or more new bets, and so on.

As another and/or additional example, once a bettor decides to place one or more new bets using the refund amount, the bettor may be required to place/use all of the refund amount on the one or more bets at that time. As another and/or additional example, suppose that a bettor could be given a set amount of time and/or until a defined event occurs to use the refund amount, once the bettor decides to place one or more new bets using the refund amount, then the bettor can Bettors are required to wager/use all refund amounts on one or more bets during that time. As another and/or additional example, bettors may be allowed to place bets using 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 bet associated with the option. Alternatively, a bettor may only be able to exercise a purchased option if the bettor loses the bet associated with the option.

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

Figure 13 is yet another flowchart showing the process for cashing out a bet.

In block 1302, a plurality of bets on the outcome may be received, eg, via a server, eg, by a casino operator entity. A plurality of bets may include one or more bets that a specific outcome will occur. In some embodiments, a plurality of bets may also include one or more bets that conflict with a specific outcome. A plurality of bets may include a bet registry for bets on an event.

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

In block 1304, a request to cash out one of the bets may be received, eg, from the user/bettor, before parsing the bet results (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 the bettor's previously purchased option to cash out the bet. In some embodiments, the request may be received in response to an invitation to request cash out. In some embodiments, an invitation to cash out the bet may be provided to bettors holding bets that tend to unbalance the bet registry for bets.

In block 1306, a cashout amount may be calculated for the user's bet based at least in part on risk management information associated with the plurality of bets.

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 before 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 a mark indicating a cash-out opportunity, including, for example, a calculated cash-out price. Users can press a button on the touch screen to request cash out. Cash out confirmation can be displayed on the screen.

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

In block 1402, a request to place a bet on the event may be received from a user, such as by a server associated with a casino operator.

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

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

In block 1408, an indication that the user is exercising the option may be received, such as by the 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 a plurality of bets on the event.

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

The above description of the illustrated embodiments, including what is described in the Abstract, is not intended to be exhaustive or to limit the embodiments to the precise forms disclosed. Although specific embodiments and examples are described herein for illustrative purposes, various equivalent modifications may be made without departing from the spirit and scope of the disclosure, 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 sportsbook betting computer system described above. In some embodiments, one or more of the payment computer system and the sportsbook betting 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 set forth various embodiments of apparatus and/or processes using block diagrams, schematic diagrams, and examples. To the extent that such block diagrams, schematic 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 Individually and/or collectively implemented by a wide range of hardware, software, firmware or indeed any combination of the foregoing. In one embodiment, the objects 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 running one or more computer programs on one or more computers (e.g., Implemented as running one or more programs on one or more computer systems), implemented as running one or more programs on one or more controllers (e.g., microcontrollers), implemented as one or more One or more programs running on a processor (e.g., a microprocessor), implemented as firmware, or as virtually any combination of the foregoing, and circuits designed and/or implemented as software and or firmware coding would be well within the skill of a person 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 media 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 memories, hard drives, DVDs, CD ROMs, digital tapes, and computer memory; and other non-transitory Computer-readable storage media.

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

These and other changes may be made to the embodiments in light of the above detailed description. Generally speaking, in the following claims, the terms used should not be understood to limit the claim to the specific embodiments disclosed in the specification and claim, but should be understood to include all possible embodiments and the like. The complete scope of equivalents, this patent application enjoys the rights to such equivalents. Therefore, the scope of the patent application is not limited by the disclosure.

From the above discussion, it will be understood that the present invention can be embodied in various embodiments, including but not limited to the following:

Embodiment 1: A method comprising: receiving, by at least one processor, a request from a user to place a first bet on a first outcome of an event; receiving, by the at least one processor, at least one other bet from at least one other user, the at least one other bet comprising at least one of: (1) another bet on the first outcome of the event and ( 2) Different bets on one of the second results of the event, the second result and the first result are mutually exclusive, so that the first result and the second result cannot both occur in the event; Before one of the outcomes occurs, one of the first bets is calculated based on a current chance that the first bet will be a winning bet and risk management information associated with the first bet and the at least one other bet. Refund amount; causing, by the at least one processor, an option to receive a refund amount in exchange for canceling the bet to be presented to the user before one of the outcomes occurs; receive an indication that the user is exercising the option to receive the refund amount in exchange for canceling the bet before one of the outcomes occurs; and In response to the user exercising the option, the bet is canceled in exchange for a refund amount, wherein the user is required to use at least a portion of the refund amount to place another bet.

Embodiment 2: The method of Embodiment 1, wherein when the option is presented to the user, an amount of the refund amount is calculated and presented to the user.

Embodiment 3: The method of Embodiment 1, wherein the user is given a time limit to use at least a portion of the refund amount to place another bet or to lose the at least a portion of the refund amount.

Embodiment 4: The method of Embodiment 1, further comprising: In response to the user exercising the option, the user is presented with an interface for using at least a portion of the refund amount to place another bet.

Embodiment 5: The method of Embodiment 1, wherein the action of calculating the refund amount includes: Determining that a potential total payout liability in the event for a particular betting outcome exceeds the potential total return on losing bets in the event for that particular betting outcome; The price is determined based on the action of determining that a potential total payout liability in the event for a specific betting outcome exceeds the potential total payout for a losing bet in the event for a specific betting outcome.

Embodiment 6: The method of Embodiment 1, wherein a potential total payout liability in the event for a particular betting outcome exceeds a potential total payout liability for losing bets in the event for the particular betting outcome. This amount of income is used to calculate the refund amount.

Embodiment 7: The method of Embodiment 1, wherein the refund amount is increased for a bet that would result in an updated balance bet registry for cashing out.

Embodiment 8: The method of Embodiment 1, wherein the refund amount is reduced for a bet that would result in an unbalanced betting registry for cashing out.

Embodiment 9: A device comprising: at least one processor; and At least one memory in electronic communication with the at least one processor, the at least one memory storing instructions that, when executed by the at least one processor, direct the at least one processor to perform the following operations: receiving a request from a user to place a first bet on a first outcome of an event; Receive at least one other bet from at least one other user, the at least one other bet comprising at least one of: (1) another bet on the first outcome of the event and (2) one of the following The second outcome is a different bet and the second outcome is mutually exclusive with the first outcome such that both the first outcome and the second outcome cannot occur in the event; Before one of the outcomes occurs, one of the first bets is calculated based on a current chance that the first bet will be a winning bet and risk management information associated with the first bet and the at least one other bet. Refund amount; Before one of the outcomes occurs, an option is presented to the user that results in receiving a refund amount in exchange for canceling the bet; receive an indication that the user is exercising the option to receive the refund amount in exchange for canceling the bet before one of the outcomes occurs; and In response to the user exercising the option, the bet is canceled in exchange for a refund amount, wherein the user is required to use at least a portion of the refund amount to place another bet.

Embodiment 10: The device of Embodiment 9, wherein when the option is presented to the user, an amount of the refund amount is calculated and presented to the user.

Embodiment 11: The device of embodiment 9, wherein the user is given a time limit to use at least a portion of the refund amount to place another bet or to lose the at least a portion of the refund amount.

Embodiment 12: The device of Embodiment 9, wherein the instructions, when executed by the at least one processor, further instruct the at least one processor to perform the following operations: In response to the user exercising the option, the user is presented with an interface for using at least a portion of the refund amount to place another bet.

Embodiment 13: The device of Embodiment 9, wherein the action of calculating the refund amount includes: Determining that a potential total payout liability in the event for a particular betting outcome exceeds the potential total return on losing bets in the event for that particular betting outcome; The price is determined based on the action of determining that a potential total payout liability in the event for a specific betting outcome exceeds the potential total payout for a losing bet in the event for a specific betting outcome.

Embodiment 14: The apparatus of Embodiment 9, wherein a potential total payout liability in the event for a particular betting outcome exceeds a potential total payout liability for losing bets in the event for the particular betting outcome. This amount of income is used to calculate the refund amount.

Embodiment 15: The apparatus of Embodiment 9, wherein cashing out results in a bet in an updated balance bet registry, increasing the refund amount.

Embodiment 16: The apparatus of Embodiment 9, wherein the refund amount is reduced for a bet that would result in an unbalanced bet registry.

Embodiment 17: A device comprising: Means for receiving a request from a user to place a first bet on a first outcome of an event; Means for receiving at least one other bet from at least one other user, the at least one other bet comprising at least one of: (1) another bet on the first outcome of the event and (2) another bet on the first outcome of the event One of the second outcomes of the event is a different bet, and the second outcome and the first outcome are mutually exclusive such that both the first outcome and the second outcome cannot occur in the event; Calculation means for calculating, before one of the outcomes occurs, based on a current probability that the first bet will be a winning bet and risk management information associated with the first bet and the at least one other bet. The refund amount of one of the first bets; Cause means for causing an option to receive a refund amount in exchange for canceling the bet to be presented to the user before one of the outcomes occurs; receiving means for receiving an indication that the user is exercising the option to receive the refund amount in exchange for canceling the bet before one of the outcomes occurs; and A cancellation component for, in response to the user exercising the option, canceling the bet in exchange for a refund amount, wherein the user is required to use at least a portion of the refund amount to place another bet.

Embodiment 18: The equipment of Embodiment 17, The amount of the refund is calculated based on the amount by which a potential total payout liability in the event for a specific betting outcome exceeds the potential total profit on losing bets in the event for a specific betting outcome , and the refund amount is one of the following: (1) cashing out will result in an updated bet in the balanced betting registry, increasing the refund amount and (2) cashing out will result in a less A bet placed on the Balance Bet Registry reduces this refund amount.

Embodiment 19: The device of embodiment 17, further comprising: a presentation component for, in response to the user exercising the option, presenting to the user an interface for using at least a portion of the refund amount to place another bet, The user is given a time limit to use at least a portion of the refund amount to place another bet or to lose the at least a portion of the refund amount.

Embodiment 20: The device of embodiment 17, wherein the component for calculating the refund amount is assembled: Determining that a potential total payout liability in the event for a particular betting outcome exceeds the potential total return on losing bets in the event for that particular betting outcome; and The price is determined based on the action of determining that a potential total payout liability in the event for a specific betting outcome exceeds the potential total payout for a losing bet in the event for a specific betting outcome.

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:Telecommunications equipment 112: Personal Digital Assistant (PDA) device 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 drive 226:Hard disk 228: CD drive 230:Disk drive 232: CD 234: Disk 236:Operating system 238:Application 240: Refund amount determination module 242:Program data 244:Historical analysis module 246:Keyboard 248:Mouse 250:Interface 252:Display/monitor 253: Modem 254:Video interface 260:Network interface 262: Payment computer system 264:Bettor A computer system 266:Bettor B computer system 268:Processing unit 269:System memory 270: Read Only Memory ("ROM") 271: Basic Input/Output System (“BIOS”) 272: Random Access Memory (“RAM”) 273:Media driver 274: Computer readable storage media 275:User interface 276:Keyboard 277:Pointing device 278:Display/monitor 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 project 308:User interface project 312:Icon or button 314:Icon or button 316: Printing and retrieval components 318:User interface project 320:Icon or button 322:Icon or button 324:Component 400: User interface 500-506,600-608,700-706,800-808,900-916,1000-1014,1100-1116,1200-1210,1300-1308,1400-1412: Method

In the drawings, like reference numbers identify similar elements or acts. The sizes and relative positions of elements in the drawings are not necessarily to scale. For example, the shapes and angles of the various elements are not to scale and some of these elements are arbitrarily exaggerated and positioned to improve legibility of the drawings. Furthermore, the specific shapes of the depicted elements are not intended to convey any information about the actual shapes of the specific elements, and are selected solely for ease of identification in the drawings.

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

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

3 is an illustration of an exemplary bettor user interface for purchasing a sportsbook betting ticket resale option, according to one illustrated embodiment.

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

5 is a flowchart illustrating a method for electronically processing a request to purchase a sports betting registry wager ticket resale option, according to one illustrative embodiment.

6 is a flowchart illustrating a method for electronically determining an amount to be refunded to a bettor utilizing a sports betting registration that the bettor previously purchased, according to one illustrative embodiment useful in the method of FIG. 5 Place bet note resale option.

7 is a flowchart illustrating a method for electronically issuing tickets indicating bets associated with a sports betting registry bet ticket resale option, according to one illustrative embodiment.

8 is a flowchart illustrating a method for electronically initiating payment to a bettor who is exercising a sportsbook betting ticket resale option previously purchased by the bettor, according to one illustrative embodiment.

Figure 9 is a flowchart showing one example for offering, purchasing and exercising options.

Figure 10 is another flowchart showing one example for offering, purchasing and exercising options.

Figure 11 is another flowchart showing one example for offering, purchasing and exercising options.

Figure 12 is yet another flowchart showing one example for offering, purchasing and exercising options.

Figure 13 is a flow chart showing an exemplary example of the present invention.

Figure 14 is a flow chart showing an exemplary example of the present invention.

300: User interface

302,308: User interface items

312,314:Icon or button

316: Printing and retrieval components

Claims (9)

A method for a bet put-back option, the method comprising: automatically communicating through a communications network with at least one processor of a server configured to receive and transmit data indicative of a bet. A first remote device receives a request to place at least one bet on an outcome of an event and a request to purchase a refund amount in exchange for an option to cancel the at least one bet at the same time as placing the at least one bet. , wherein the option is associated with a first time with a first fee and a second time with a second fee; after receiving the request to place the at least one bet and the at least one bet is a bet Before any determination of a winning bet or a losing bet, calculating, by the at least one processor, the at least one bet based on a current probability that the at least one bet will be a winning bet and risk management information associated with the at least one bet. The refund amount for at least one bet, where calculating the refund amount includes: determining a total potential liability amount from all bets placed on each possible outcome of the event; and responding to a determination of the total potential liability amount. Imbalance, the refund amount is calculated to be proportional to the total potential liability amount for the outcome of the event placed by the at least one bet; after receiving the request to place the at least one bet and the at least one Before any determination of whether the bet is a winning bet or the bet is lost, causing the at least one processor to cause a graphical user interface of an electronic display device of the first remote device to be displayed to indicate receipt through the communication network the refund amount in exchange for a token of the option to cancel the at least one bet; after receiving the request to place the at least one bet and before any determination that the at least one bet is a winning bet or that the bet is losing a bet, by from the at least one processor through the communication network The first remote device receives an indication that the first remote device is exercising the option to receive the refund amount in exchange for canceling the at least one bet; and by the at least one processor, determining whether the first remote device The option is exercised before the first time or the second time; in response to determining that the first remote device exercises the option before the first time or the second time, by the at least one processor , automatically canceling the at least one bet in exchange for the refund amount; and sending an electronic signal through the at least one processor through the communication network to cause physical distribution of a voucher or a payment amount at a second remote device At least one shall be used as the refund amount. The method of claim 1, wherein calculating the refund amount by the at least one processor includes comparing (i) the total potential liability amount associated with payment of payouts on winning bets arising from the outcome and ( ii) The total amount of potential profit associated with a losing bet resulting from the occurrence of that 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 bet or to forfeit the portion of the refund amount. The method of claim 1, further comprising: in response to the first remote device using the option, using the at least one processor through the communication network to present the graphical user interface to the first remote device, Use at least part of the refund amount to place another bet. The method of claim 1, wherein calculating the refund amount by the at least one processor includes determining that (i) a potential total payout liability incurred in response to a particular bet outcome exceeds (ii) a potential total payout liability incurred in response to the particular bet outcome The potential total gain incurred on a losing bet. The method of claim 1, wherein cashing out would result in a more balanced bet registration The at least one bet on one of the given bets is increased by the refund amount. The method of claim 1, wherein the refund amount is reduced for a given bet of one of the at least one bet where cashing out would result in the registration of an unbalanced bet. An apparatus for a bet put-back option, comprising: at least one processor of an electronic computer system including a server in network communication with a plurality of computers configured to receive and transmit data indicative of bets ; and at least one memory in electronic communication with the at least one processor, the at least one memory storing instructions that, when executed by the at least one processor, direct the at least one processor to perform the following operations: by A communication network that receives from a first remote device a request to place at least one bet on an outcome of an event and purchases at the same time as placing the at least one bet to receive a refund amount in exchange for canceling one of the at least one bet. a request for an option, wherein the option is associated with a first time with a first fee and a second time with a second fee; after receiving the request to place the at least one bet and the Before any determination that at least one bet is a winning bet or a losing bet, calculating the at least one bet based on a current probability that the at least one bet will be a winning bet and risk management information associated with the at least one bet The refund amount for bets, where calculating the refund amount includes: determining a total potential liability amount from all bets placed on each possible outcome of the event; and responding to an imbalance between the determination of the total potential liability amount , calculate the refund amount in proportion to the total potential liability amount for the outcome of the event placed by the at least one bet; after receiving the request to place the at least one bet and the at least one bet is The bet wins Prior to any determination of the bet or the loss of the bet, causing a representation of receipt of the refund to be presented to the first remote device through the communication network at a graphical user interface of an electronic display device of the first remote device An amount in exchange for a token of the option to cancel the at least one bet; after receiving the request to place the at least one bet and before any determination that the at least one bet is a winning bet or that the bet is losing a bet, through the communication network , receiving an indication from the first remote device that the first remote device is using the option to receive the refund amount in exchange for canceling the at least one bet; determining whether the first remote device is at the first time or the option has been exercised before the second time; in response to determining that the first remote device has exercised the option before the first time or the second time, automatically canceling the at least one bet in exchange for the refund amount ; and sending an electronic signal through the communication network to cause at least one of a voucher or an amount to be physically distributed at a second remote device as the refund amount. A non-transitory computer-readable medium having instructions stored thereon when the instructions are transmitted by at least one of at least one computer system that includes a server in network communication with a plurality of computers configured to receive and send information indicating wagers. When the processor is executed, the at least one processor is directed to perform the following operations: receiving a request from a first remote device to place at least one bet on an outcome of an event through a communication network and placing the at least one bet at the same time. Time Buying receives a refund amount in exchange for a request to cancel an option on the at least one bet, wherein the option is associated with a first time with a first fee and a second time with a second fee. after receiving the request to place the at least one bet and before any determination that the at least one bet is a winning bet or a losing bet, based on the current probability that the at least one bet will be a winning bet and risk management information associated with the at least one bet to calculate the The refund amount, wherein calculating the refund amount includes: determining a total potential liability amount from all bets placed on each possible outcome of the event; and calculating the total potential liability amount in response to determining an imbalance between the total potential liability amounts. The amount of the refund is proportional to the amount of the total potential liability for the outcome of the event placed by the at least one bet; upon receipt of the request to place the at least one bet and the at least one bet being a win Before the bet or any determination of the loss of the bet, causing a representation of receipt of the refund amount to be presented to the first remote device at a graphical user interface of an electronic display device of the first remote device through the communication network in exchange for a token of the option to cancel the at least one bet; after receiving the request to place the at least one bet and before any determination that the at least one bet is a winning bet or a losing bet, through the communications network, receiving an indication from the first remote device that the first remote device is exercising the option to receive the refund amount in exchange for canceling the at least one bet; determining whether the first remote device is at the first time or The option was exercised before the second time; in response to determining that the first remote device exercised the option before the first time or the second time, automatically canceling the at least one bet in exchange for the refund amount; and sending an electronic signal through the communication network to cause at least one of a voucher or an amount to be physically distributed at a second remote device as the refund amount.