Inviting Users to Participate in a Venture Exchange

Abstract

A computer-implemented method for inviting members of a venture exchange to participate in a wager. The method includes receiving a wager placed by a first user; parsing the wager to determine wager characteristics associated with the wager; determining, using a processor, friends of the first user that have an affinity for the wager based on the wager characteristics; causing an interface to be displayed to the first user, where the friends of the first user are organized by a relative affinity for the wager; receiving a selection by the first user of friends to invite to participate in the wager; and transmitting a wager invitation to each friend selected by the first user.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS[0001]This application is a continuation-in-part of U.S. patent application Ser. No. 12 / 543,149, filed on Aug. 18, 2009, which claims benefit of U.S. provisional patent application Ser. No. 61 / 089,811 filed on Aug. 18, 2008. Each of these applications is hereby incorporated herein by reference.BACKGROUND[0002]1. Field of the Invention[0003]Embodiments of the invention relate generally to computer-implemented venture exchanges, and more particularly, to systems, computer-readable media, and methods for inviting users to participate in a venture exchange.[0004]2. Description of Related Art[0005]Conventional betting exchanges are computer networked processes that provide virtual trading places at which individuals invest (e.g., bet) on outcomes that they predict are likely to occur. Typically, an operator of a betting exchange—or bookmaker—determines the outcomes (or at least influences the details of bets), and mediates the resolution of the bets...

AI Technical Summary

Benefits of technology

[0009]Advantageously, embodiments of the invention allow a user to quickly and easily select which users to invite to participate in the wager.

Problems solved by technology

Usually, the presentation of numerous bets can obfuscate other bets, thereby further increasing the quantities of bets that an individual needs to search.

This can lead to inefficiencies as some bets that cannot be easily found may remain “unmatched.” An unmatched bet is a bet that has yet to found and matched by another individual.

Unmatched bets tie up individuals' wagers for an extended amount of time, thereby decreasing enthusiasm for betting, as well as the rate which bets are processed (which, in turn, reduces liquidity).

Further, many typical betting exchanges do not provide a vehicle to sufficiently facilitate camaraderie and cohesiveness among individuals who prefer certain bets and / or know each other.

This in turn can also dampen participation that might otherwise be present when individuals bet competitively with other known individuals.

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