System and Method for Wagering-Based Transferable Financial Instruments

a transferable financial instrument and system technology, applied in the field of gaming and financial instruments, can solve the problems of general well-known and unexceptional wagers of this kind, and achieve the effect of facilitating exchange and reducing the risk associated

Inactive Publication Date: 2007-09-06
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

Enables sophisticated risk management by allowing participants to balance their betting portfolios through hedging and adjusting positions based on the outcomes of multiple events, creating a semi-autonomous market that is less reliant on singular transaction values, and facilitating the exchange of novel financial instruments.

Problems solved by technology

Wagers of this kind are generally well-known and unexceptional.

Method used

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  • System and Method for Wagering-Based Transferable Financial Instruments
  • System and Method for Wagering-Based Transferable Financial Instruments
  • System and Method for Wagering-Based Transferable Financial Instruments

Examples

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example financial

[0059] Example Financial Instruments

[0060] In a particular embodiment of the system 5, financial instruments 76 may be grounded in the pull of slot machines. On each spin of the reels, a computer device may be used to record the placement of a symbol in relation to the “pay line” on each reel of each slot machine linked to system 5. For example, in conventional slot machines, the “pay line” may be represented by a horizontal bar across the middle of the reel display. Each position may be given a corresponding numerical value according to a point system. For example, a cherry on the pay line may represent 0, a cherry one line above the line may represent +1, and a cherry one line below the line may represent −1; an orange on the pay line may represent 3, an orange one line above the pay line may represent 5, and an orange one line below the pay line may represent 1; no symbol on the pay line could represent −3, no symbol one line above the pay line could represent −1, and no symbol o...

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Abstract

An apparatus for providing a financial instrument comprises a memory operable to store a plurality of predefined states wherein each of the predefined states corresponds to at least one potential outcome of a probabilistic event. The memory further stores a plurality of predefined termination criteria wherein each predefined state corresponds to at least one predefined termination criteria. The memory further stores a financial instrument that is allocated a value based at least in part upon one of the plurality of predefined states. A processor is coupled to the memory and facilitates the transfer of the financial instrument.

Description

CROSS REFERENCE TO RELATED APPLICATION [0001] This application is a continuation of U.S. patent application Ser. No. 10 / 654,280 filed Sep. 3, 2003, and this application is related to and claims the benefit of U.S. Provisional Application No. 60 / 459,692, filed Apr. 2, 2003, and Provisional Application Nos. 60 / 460,540 and 60 / 460,537, both filed Apr. 4, 2003, and all are incorporated in their entirety herein by reference.TECHNICAL FIELD OF THE INVENTION [0002] The invention relates generally to the fields of gambling and financial instruments. More particularly, the invention relates to providing systems and methods for transforming propositions or positions in games of chance or skill (or mixed games of chance and skill) into tradable financial instruments that can be tracked over time and valued by a plurality of players or investors. The invention thus provides a system and method for creating wagering-based transferable financial instruments, and further provides a system and metho...

Claims

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Application Information

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Patent Type & AuthorityApplications(United States)
IPC IPC(8): A63F9/24G06Q40/00G06Q40/02G06Q40/04G06Q40/06G06Q50/34G07F17/32
CPCG06Q40/00G06Q40/02G06Q40/025G07F17/3288G06Q40/06G06Q50/34G07F17/32G06Q40/04G06Q40/03
InventorASHER, JOSEPH M.CROSTHWAITE, DOMINICLUTNICK, HOWARD W.RICHES, GUY IAIN OLIVER
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