Betting-products matched bargain method and system

Abstract

A betting exchange method is provided that comprises receiving offers from at least one user and using proportional calculation to determine whether the offers satisfy transaction criteria among themselves; each of said offers comprises a buyer who request (buys) a bet of an outcome or a seller who provides (sells) a bet of an outcome. The invention also provided a bet trading system comprising a receiver to receive offers from at least one user, each of said offers comprises a buyer who requests (buys) a bet of an outcome or a seller who provides (sells) a bet of an outcome; and a decision-maker uses proportional calculation to determine whether the offers satisfy transaction criteria among themselves.

Description

FIELD OF THE INVENTION[0001]This invention is related to the field of proportional bets matching, particularly but not exclusively to secondary fixed odds betting exchange.BACKGROUND OF THE INVENTION[0002]A number of companies provide fixed odds betting services, where players can only access to one side of the market, i.e. they can only efficiently request, or “buy”, a particular outcome, for example who will win in a horse race or in a football game, to occur at odds offered by a bookmaker. The offers may change in time, but those who accept the offer place bets with the bookmaker and, if the outcome desired by the player finally occurs, the bookmaker needs to pay out. In such a scenario, the bookmaker acts as a contract provider with plurality of individual request players, each betting transaction is between bookmaker and player. Though the odds offered by the bookmaker may vary in time depending on the demand of bets, the outcome is still unknown. After the transaction is compl...

AI Technical Summary

Benefits of technology

[0006]According to the present invention, a betting exchange method is provided that comprises receiving offers from at least one user and using proportional calculation to determine whether the offers satisfy transaction criteria among themselves; each of said offers comprises a buyer who request (buys) a bet of an outcome or a seller who provides (sells) a bet of an outcome. The invention also provided a bet trading system comprising a receiver to receive offers from at least one user, each of said offers comprises a buyer who requests (buys) a bet of an outcome or a seller who provides (sells) a bet of an outcome; and a decision-maker uses proportional calculation to determine whether the offers satisfy transaction criteria among themselves. The buyer requests (buy) a bet of an outcome from a primary or secondary market, the seller provides (sell) a bet of an outcome to a secondary market; and the proportional calculation comprises matching a portion, one or plural of bet-demand with a portion, one or plural of bet-supply. In addition, it can ensure the market is most efficient and having competitive prices. The bet requests and provide can include a price and odds at which the bet is to be placed, which can promote price or odds competition and improve the efficiency of the market. If a better price or odds is available to the user, the system will match the bet at the better price or better odds. The system can represent the players to request bets from external bookmarker(s).

[0007]The system can further comprise means for automatically generating an implied bet in respect of an outcome for the absence of one-side bets (buy or sell). This can generate arbitrage opportunities and also allow bets to be filled automatically by the system even though there may be more explicit odds in one side of the market than the other. This function can improve the liquidity of the market.

[0008]The present invention has the notable improvement that a user-friendly and convenience system and method which allow the sell of existing bets without creating a new bets and use proportional calculation matching to improve the liquidity of the market.

Problems solved by technology

Despite of the floating of the odds, it is not easy to write off the bets, whether backing or laying, directly by betting in the counter side.

For example, a player cannot write off an existing bet which has backed at odds 2 to 1, with a laying bet at the market odds 3 to 1 totally, there is still some risk exposure.

Also, back and lays services always create new bets for trade, and they cannot handle the exchange of bets that already exist.

Instead of selling out the existing bets, players can only write off the existing bets by creating new bets, they cannot sell the existing bets without create new bets.

This inconvenience lets players difficult to manage their account.

Nowadays the flexibility of bets exchange provided by exchange market system is limited.

The existing exchange market system cannot support any exchange of bets which are not selected by exchange market system, such as bets with special conditions.

This will limit the growth of the market.

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