System and method of networked wagering

a networked wagering and networked technology, applied in indoor games, sports equipment, instruments, etc., can solve the problems of complex legal framework for regulating internet gaming in the united states and overseas, internet gaming presents a “growing cause of debt collection problems, and prior art failed to address this growing need

Inactive Publication Date: 2012-12-20
FELICE DAVID A
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

Enables secure, automated, and centralized management of player interactions, allowing for the allocation and collection of taxes and fees, while ensuring compliance with local laws, thus providing a robust and flexible framework for remote gaming.

Problems solved by technology

The legal framework for regulating Internet gaming in the United States and overseas is complex.
As late as 2006, federal legislation found that Internet gaming presents a “growing cause of debt collection problems” for financial institutions, including depository banks and the consumer credit card industry.
The prior art failed to address this growing need.
While such a system provides a means by which a player can gamble from a remote location, it failed to address the taxation, debt collection and regulatory oversight issues currently associated with Internet gambling.

Method used

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  • System and method of networked wagering
  • System and method of networked wagering
  • System and method of networked wagering

Examples

Experimental program
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Embodiment Construction

[0022]Preferred embodiments of the present invention will be described in detail herein below, with reference to the accompanying drawings.

[0023]The present invention provides a system and method to permit foreign or interstate wagering from remote, Internet or locally accessible locations where the wager is placed, accepted and settled all within a state, territory or other forum where wagering and other gaming is sanctioned. The process is automated via a host computer system, which manages betting activities of a plurality of players, and enables one or more players at a local, remote, Internet or locally accessible location to participate in intrastate gaming for purposes of the local forum's rules, regulations and laws affecting the gaming industry.

[0024]FIG. 1 is a system overview illustrating the preferred Automated Player System and FIG. 2 is the accompanying Host Computer Interface Block Diagram. According to this illustrative example, forum host (100) enables one or more p...

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Abstract

A system and method to permit foreign or interstate wagering from remote locations where the wager is placed, accepted and settled all within a state, territory or other forum where wagering and other gaming is sanctioned. An organization situated in the forum location (the “forum host”) establishes and maintains a business entity to bestow intra-forum presence to the foreign or interstate player. Through the business entity, the forum host can account for the player's wagers, winnings and losses, while at the same time, allocating and / or collecting the appropriate federal, state and / or local taxes and fees on the member / player's account. The process is automated via a host computer system, which manages betting activities of a plurality of members / players, and enables one or more players at a remote location to participate in intrastate gaming for purposes of the focal forum's laws, rules and regulations affecting the gaming industry.

Description

CROSS REFERENCE TO RELATED PATENT APPLICATION[0001]This application is a divisional of U.S. application Ser. No. 12 / 150,620, filed Apr. 30, 2008, hereby incorporated herein by reference in its entirety.TECHNICAL FIELD[0002]The present invention relates generally to an Interstate or Internet gaming system, and more particularly, to a system and method to permit interstate or foreign wagering from remote locations where the player is enabled to establish, join and / or maintain a business entity bestowing an intra-forum presence to the foreign or interstate player.BACKGROUND OF THE INVENTION[0003]Internet gambling is a growing industry. As a result of advances in computer technology and telecommunications, Internet gaming systems have been devised in which a player can participate in a plurality of games of chance being offered by a gambling establishment without being physically located on the premises. The Internet offers easy and inexpensive access to a variety of gambling services, ...

Claims

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Application Information

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Patent Type & AuthorityApplications(United States)
IPC IPC(8): A63F9/24
CPCG06Q30/018G07F17/32G07F17/3223
InventorFELICE, DAVID A.
OwnerFELICE DAVID A