Computer image processing method and system for presentation of image object or text in wagering environment

Abstract

To provide a method and a system for performing wager.SOLUTION: A method includes the steps of: starting a first betting session; generating a betting product to store it in a memory element; transmitting information on the betting product stored in the memory element to at least one user; receiving a plurality of bet requests for performing wager on the at least one betting product from one user to store it in the memory element; validating one of the plurality of bet requests stored in the memory element; and by comparing a numerical term associated with another one of the plurality of bet requests stored in the memory element with a corresponding numerical term associated with the one of the plurality of validated bet requests, determining that the numerical term is within a non-zero range with respect to the corresponding numerical term.SELECTED DRAWING: Figure 1

Description

[Technical Field]

[0001] This application claims priority from U.S. Patent Application No. 11 / 467,047, filed August 24, 2006, which is incorporated herein by reference in its entirety. [Background technology]

[0002] FIELD OF THE INVENTION This disclosure relates to image processing methods and systems, and more particularly to systems and methods for displaying graphical objects or text on an interactive display in a wagering environment. Summary of the Invention [Problem to be solved by the invention]

[0003] In accordance with at least one aspect of the present disclosure, a computer image processing system and method is provided for displaying graphical objects or text in a wagering environment. [Means for solving the problem]

[0004] In at least one embodiment, a computer graphics processing method is provided for displaying a graphical object on a graphical user interface screen, the method including receiving a request for betting information and displaying the graphical interface screen on a user interface. The graphical interface screen includes a reference betting line, such as a market betting line, having a value corresponding to a reference variable value associated with the object, such as the market value of the object. Alternatively or additionally, the interface screen may include a high line having a value corresponding to an amount higher than the reference variable value, a low line having a value corresponding to an amount lower than the reference variable value, or at least one or more spread lines. The market, high, low, and spread lines may be spatially arranged on the interface screen based at least on the respective values of these lines.

[0005] In one embodiment, the interface screen includes at least one computer-generated or otherwise graphical object associated with each betting line. The at least one graphical object is selectable for submitting at least one of an up-bet request and a down-bet request. The at least one graphical object may rotate or move when in a transactional state. The interface screen may further include odds associated with at least one of the up-bet request and the down-bet request superimposed on the graphical object. In one embodiment, the interface screen and / or at least one market or reference betting line, high line, low line, spread line, and odds are automatically refreshed to reflect changes in market value of the objects.

[0006] Further aspects of the present invention will be apparent from a review of the following description.

[0007] To provide a more complete understanding of the present invention and the features and advantages thereof, reference is made to the following description in conjunction with the accompanying drawings, in which like reference numerals represent like parts, and in which: [Brief explanation of the drawings]

[0008] [Figure 1] FIG. 1 is a block diagram of a gaming system for betting on events in a market environment according to at least one embodiment of the systems disclosed herein. [Figure 2] 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. [Figure 3] FIG. 1 is a block diagram of a central controller according to at least one embodiment of the systems disclosed herein. [Figure 4A] FIG. 1 is a flow diagram illustrating a method for betting on a market environment, according to at least one embodiment of the methods disclosed herein. [Figure 4B] FIG. 1 is a flow diagram illustrating a method for validating at least one bet request according to at least one embodiment of the methods disclosed herein. [Figure 5] 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. [Figure 6] 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. [Figure 7] 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. [Figure 8] 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. [Figure 9] 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. [Figure 10] 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. [Figure 11] 1 is an interface screen for use in accordance with at least one embodiment of the methods and systems disclosed herein. DETAILED DESCRIPTION OF THE INVENTION

[0009] 1 is a block diagram of a gaming system 10 according to at least one embodiment of the system disclosed herein, providing at least one graphical user interface screen by which users can place wagers or bets with respect to events occurring within financial or other markets, as disclosed herein. In one embodiment, gaming system 10 includes at least one central controller 40 coupled or in communication with an overall communications network 18 that includes at least one user interface 16 for use by one or more end users 12. Gaming system 10 may also include or be associated with an administrator module 50 and financial market data elements 60.

[0010] User interface 16 may include one or more elements that provide connection and / or interaction for one or more end users 12, along with other elements within gaming system 10. User interface 16 may include, for example, a processor, memory, one or more input and / or output devices such as a keyboard, a mouse, a display, an Internet element 20, a wireless element 22, a casino facility element 24, a television (or display) element 28, etc. Each of these elements may provide the associated functionality in the form of hardware, software, or a combination thereof.

[0011] The central controller 40 may include a processor 42 and a memory element 44, as well as software stored in the memory that, when executed, performs one or more steps or provides functionality of the methods described herein. In one embodiment, the central controller 40 generally provides back-end functionality for the methods described herein, while the user interface 16 provides front-end functionality.

[0012] In some embodiments, gaming system 10 provides greater flexibility and opportunities for diversifying bets on events in numerous financial or other markets. While the methods and systems described herein may be exemplified with respect to betting on events occurring within a financial market, such as one or more indicators reaching a certain monetary level at the end of a betting session, it should be understood that the methods and systems are equally applicable to betting on other events unrelated to financial markets, such as, but not limited to, sporting events, horse or dog races, casino games, lotteries, and others. Furthermore, while the methods and systems are described with respect to market prices or values, it should be understood that the methods and systems are equally applicable to variables without price references, such as, but not limited to, trading volumes, bid sizes, demand sizes, revenues, sporting and non-sporting scores or statistics, jackpots, and others. The methods and systems described herein are generally applicable to betting on the value of a reference variable associated with any object, the value of which is subject to change over time. Thus, the present disclosure provides methods and systems that provide users with the opportunity to place bets based on whether the value of a reference variable reaches a particular level at a particular time.

[0013] In some embodiments, gaming system 10 offers betting opportunities or betting products for wagering on events occurring in financial or other markets and determines odds for the occurrence of those events in the markets. As used herein, the terms "betting opportunity" and "betting product" are used synonymously. For example, as described below, system 10 may determine odds for betting on the value of an asset, assets, index, etc., reaching a certain price level or levels in a market that is moving or fluctuating in a certain direction, and may further offer opportunities to bet on whether the value of the asset will meet at least one of these betting conditions one or more times throughout a trading day. In this regard, gaming system 10 may divide a trading day into multiple intraday betting sessions, each with a start time and expiration. Thus, a trading day may be considered to have multiple intraday expirations. Betting sessions may be object-specific or inclusive for all objects; that is, the start time may occur at different times for some objects and be the same for all objects.

[0014] Gaming system 10 may further include a pricing engine, such as a software component or module, operable to: 1) determine floating or fixed odds, one or a set, around floating or fixed market lines, respectively; 2) determine accurate floating market lines relative to fixed odds; and / or 3) receive betting information to determine and / or display liability management information related to financial fixed betting activity.

[0015] For variable odds / fixed line betting products, the system 10 may provide an interface screen displaying odds around a reference betting line whose value remains constant throughout the trading day, during a betting session, or during the day's expiration. In this example, the system 10 sets the value of a reference variable at the start of a betting session, i.e., the betting line value at the start time, and determines odds for values of the reference variable reaching levels higher or lower at later times than the initial value of the reference variable. The system 10 may further determine odds for values of the reference variable reaching different levels at different times throughout the betting session, preferably dynamically, to reflect real-time changes in the object's value. Thus, the system 10 may provide betting opportunities in which the end user 12 may place bets on whether the value of the reference variable at the close of the betting session reaches levels higher or lower than the initial value of the reference variable, with the odds and corresponding payouts determined and / or set based on the value of the reference variable at the time the end user 12 places the bet.

[0016] For example, assume that the reference betting line is a fixed market line, such as one corresponding to the market value of the Dow beginning a betting session (T1) at 11192.8. At a later time (T2) in the betting session, as shown in FIG. 5, the value of the Dow is 11192.5, and the odds that the Dow will finish higher than the 11192.8 level at T2 are 10 / 11, while the odds that the Dow will finish lower than the 11192.8 level at T2 are 8 / 11. Generally, the odds vary from the initial value of the Dow at the beginning of the betting session based at least on the market value of the Dow at T2. Thus, end user 12 may place a bet at time T2 for an up position, making a "bet up" on a bet (W) with a corresponding payout of (W) × (10 / 11), or a "bet down" on a bet with a corresponding payout of (W) × (8 / 11). Similarly, end user 12 may place bets on the same fixed market line at a later time in the betting session, with odds determined to reflect changes in the market value of the object at the later time, such as odds based on the market value at the later time, as shown in Figures 6 through 8. Similarly, end user 12 may place bets on the high line, low line, or spread line, as described in more detail below.

[0017] In addition to floating odds / fixed line bets, gaming system 10 may also offer fixed odds / floating line betting outcomes, which allow end users 12 to place bets on dynamic markets, where a reference betting line, e.g., a market line, has a value corresponding to the current value of a reference variable at different times during a betting session to reflect any market shifts and fluctuations. In this example, system 10 may provide an interface screen with a reference betting line that reflects changes in the value of the reference variable in real time or otherwise, and determine the odds of an object reaching a different level at the end of the betting session or trading day, e.g., higher or lower than the then-current level. System 10 may then provide a betting opportunity where end users 12 can select a then-current value for the reference variable and place a bet on whether the value of the reference variable will be higher or lower at the end of the betting session than the value selected at the then-current time, with the odds and corresponding payouts based thereon remaining essentially fixed or unchanged at least during the betting session. In a floating line embodiment, fixed odds may be fixed at any time, including the start of a trading day, the start of a betting session, etc. For example, end user 12 may bet that the value of the then current level of the Dow will close either higher or lower than its then current level of 11,252.9 at a first time (T1) within a betting session, as shown in Figure 10, or that the Dow will close higher or lower than its then current level of 11,252.0 at a second time (T2), as shown in Figure 11, where T2 > T1 as shown in Figure 11. As can be seen in Figures 10-11, the odds for betting on a floating market are fixed at 5 / 6 for both times and in both directions.

[0018] As described above, end users 12 may bet that the value of a selected market, such as the FTSE, at the time of closing will be higher or lower than the value of a fixed or floating market line value. In addition to the market betting line, end users 12 may also enjoy additional betting opportunities related to fixed or floating betting lines. In one embodiment, system 10 provides betting opportunities based on the theory that the market will close at a predetermined level above or below a fixed or floating reference betting line, such as, for example, approximately 1% above or below the market line, or any other percentage between 0.5% and 10% or more, or approximately 9 units above or below the market line, or any other amount between 1 and 100 units (ticks) or more.

[0019] Thus, in variable odds embodiments, gaming system 10 may offer betting opportunities at high and / or low line levels that are a certain amount, such as a certain percentage or number of units, above or below, respectively, the value of a reference betting line, such as the fixed market lines shown in Figures 5 through 9. End users 12 may then bet on whether the value of the variable will close above or below the high and / or low line values. In this example, system 10 may determine variable odds for the high, low, or any other line level, preferably on a dynamic, real-time basis during a betting session.

[0020] In fixed odds embodiments, gaming system 10 may offer similar betting opportunities for high and low line levels, or for lines based on a spread around the current value of a reference variable, such as a floating market line, such that the spread line contains better odds (from a bettor's perspective) than those associated with a floating market line without a spread. Such odds may be essentially even (1 / 1), as opposed to, for example, 10 / 11-type odds for the market line. Thus, system 10 may determine the varying values of the high, low, and spread line values, preferably on a dynamic, real-time basis during a betting session, to maintain the desired fixed odds.

[0021] Daily expirations for betting sessions, as well as other intraday and longer-term expirations, may be similarly coordinated by gaming system 10. Bets may be placed on any suitable financial market, such as the FTSE, German DAX, French CAC, NASDAQ, American Exchange (AMEX), New York Stock Exchange, Nikkei, bond or treasury markets, and the Hang Seng Index. Accordingly, gaming system 10 may facilitate frequent bet expirations for bets related to any number of suitable financial instruments. Bets or betting sessions may similarly extend to expirations every minute, every 30 seconds, or any multiple thereof or amounts in between. Based on this, end users 12 may be offered the opportunity to bet on multiple events / scenarios throughout the trading day. Accordingly, the targeted financial markets are the basis for regular intraday betting activity.

[0022] In at least one embodiment, system 10 offers betting sessions with bet expiry at least one of every 5 minutes, 30 minutes, hourly, etc. throughout market hours of the trading day, and immediately extended to accommodate defined future time frames. For example, if the trading day is divided into sessions with 5-minute expiry, betting opportunities are defined as follows for the FTSE market (GMT time): (opening bell) 10:00 AM, 10:05 AM, 10:10 AM, etc., and continuing until 17:05, 17:10, 17:15, 17:20 (closing bell). Similar principles apply to other session periods.

[0023] Similarly, the system 10 may allow end users 12 to specify a self-determined maturity, which may be the upcoming maturity or any later maturity. Thus, customers at a betting shop or online environment may be offered betting opportunities at any time throughout the day. Settlement may follow bet maturity in any suitable manner, such as immediately after maturity, during and / or concurrently with the next or any other later betting cycle, or in any other manner.

[0024] Gaming system 10 may also allow end users to submit bets in a session that have non-time-specific expirations. In such a scenario, the bets expire at a defined delay measured from the moment the bet is placed, as opposed to a defined or planned expiration throughout the trading session. This allows end users 12 to place bets at any time throughout the day, knowing that such bets will expire, for example, five minutes or any other time after the bet is placed. For example, a five-minute bet placed at 12:07:35 will be settled at 12:12:35. Thus, bets need not expire at a nominal interval for all participants, but instead expire based on a clear marker, i.e., a delay from the time the bet is placed.

[0025] Another possibility afforded by the configuration of gaming system 10 is that a sophisticated participant may continuously adjust their overall risk involvement or exposure, for example, by betting one way on individual transactions and taking opposing positions on the outcomes of multiple other events. For example, a participant may first bet that the NASDAQ will rise, but also take a short position in the Russell 2000. Such risk-blending participation strategies allow participants to efficiently balance or hedge their bets and their betting portfolios in a manner similar to an investor who hedges an investment portfolio with offsetting transactions in underlying securities assets.

[0026] End users 12 may be clients, customers, prospective investors, or any individual or entity wishing to place a bet. Similarly, end users 12 may seek to access or participate in communications using user interface 16, which may be provided bidirectionally to central controller 40 via communications network 18. End users 12 may view data, such as performance characteristics of trading physical commodity objects associated with a particular market, in order to take a position, such as placing a bet, on any given target. Alternatively, or in addition, end users 12 may represent any device or object seeking to initiate communications on behalf of another entity or element, such as a program, database, or any other component, device, element, or item capable of initiating voice or data exchange within gaming system 10. As used herein, the term "data" refers to any type of numerical, voice, or script data, or any other suitable information in any format, communicated from one point to another.

[0027] End User 12 may enter into a wager or bet, representing that legal means may be used to bind End User 12 to the agreement. A wager may take any suitable form, such as a written document, an electronic file such as an email, a database entry, a facsimile message, a computer display, an entry in a report, a verbal agreement between two parties, or a combination of these. Such wagers are flexible in terms, wording, and terms. In general, any information or data that is relevant or of interest to the betting participant or the sponsoring organization may be included in a wager, provided that the terms included are mutually agreeable to the two (or more) parties bound by the wager.

[0028] User interface 16 may be any device that facilitates betting on selected financial or other markets. User interface 16 is generally operable, alone or in combination with central controller 40, to communicate at least one request associated with the betting process and / or betting opportunities described herein. Similarly, user interface 16 may provide a portal for end users 12 to access other elements of gaming system 10 and interactively communicate information, such as betting opportunities and responsive bets, provided herein with associated components of gaming system 10. User interface 16 may be a computer, server, control center, single workstation, or headquarters office for any person, business, or entity that manages or facilitates betting activity. Accordingly, user interface 16 may comprise any suitable hardware, software, equipment, components, elements, or items utilized or implemented in a gaming environment to accomplish such operations or functions.

[0029] In one embodiment, user interface 16 includes any one or more selections of elements such as an internet element 20, a wireless element 22, a casino facility element 24, a television element 28, or any other receiver, such as cable, satellite, closed circuit, etc., for displaying images or information, a biometric element 65, etc. Any suitable number and combination of interfaces may be implemented within gaming system 10 according to usage, traffic, architecture, and other reasons.

[0030] User interface 16 may be any suitable interface or object that facilitates communication between end user 12 and any other elements within gaming system 10, such as a mobile phone, electronic notebook, personal digital assistant (PDA), personal or laptop computer, special-purpose handheld device, or any other suitable device, wireless or other format, component, or element capable of accessing one or more elements within gaming system 10. Similarly, user interface 16 may include any suitable interface for a human user to interact with gaming system 10, such as a display, microphone, keyboard, camera, mouse, roller ball, touchscreen display, biometric sensor, or any other suitable terminal device according to a particular configuration and arrangement. Additionally, user interface 16 may be a unique element, such as a special-purpose communication device designed specifically for communications involving wagering as disclosed herein. Such elements may be constructed or manufactured specifically for a financial application involving end user 12.

[0031] User interface 16 may be owned or operated by any suitable entity with the ability and / or authority to operate in the gaming industry. A direct connection may exist between user interface 16 and any financial or other exchange, whereby information pertaining to the exchange may be delivered to end user 12 and viewed prior to execution of the transaction. User interface 16 may therefore deliver real-time market and / or financial data to end user 12 to provide relevant information used to make decisions about whether to place, buy, or sell a bet. This financial information may be retrieved from financial market data elements 60 or any other suitable element, such as the direct connection described above. Financial market data elements 60 may be, for example, relay data, such as price information, market line values, maturity data, financial graphs and charts, quote histories, or moving averages, to end user 12. Similarly, other relevant financial data may be delivered immediately based on specific demand.

[0032] To deliver accurate and timely information, financial market data elements 60 may be directly connected to the communications links of the corresponding exchanges transmitting such financial data. Alternatively, financial market data elements 60 may aggregate such information from any other location, such as newswires or servers operating to deliver information to investors in real time, and deliver the desired data to end users 12. Financial data elements 60 may be embodied in software, hardware, or a combination thereof. System 10 may store information received from or in connection with financial data elements 60 in one or more databases.

[0033] User interface 16 may include or be at least one self-service betting machine. In some embodiments, the self-service betting machine allows end user 12 to enter payment into the machine, such as cash, a voucher, or a credit / debit card, use it to place one or more bets, and receive a printout of a ticket or other document to confirm the placed bet. User interface 16 may also include a biometric element 65, such as a fingerprint reader or any other biometric sensor, to authenticate the user's identity. Biometric data generated by the biometric sensor may be used to verify the user's identity for account access, electronic fund transfers, and the like. For example, the biometric data may be communicated from interface 16 to central controller 40, where it is compared to stored biometric data. If the biometric data matches, the user may proceed with betting according to the methods disclosed herein. Additionally, the results of the biometric data match may be communicated to a third party, such as a bank, which may electronically transfer funds from the user's account with the third party to one or more of the user's betting accounts with the gaming system provider based on the biometric match.

[0034] The printout for the winning bet may be returned to the self-service betting machine to receive payment or a voucher, which may be used to receive payment from a teller. In other embodiments, the self-service betting machine allows the end user 12 to use a credit card, debit card, or smart card to submit a bet. The credit or debit card may have an associated account, which may be a betting account provided and / or managed by a betting account provider using, for example, a centralized computer system. The associated account and information may also be stored in an end user profile, as described below with reference to FIG. 3. The smart card may itself store information about the betting account and various bets. In some embodiments, after a bet expires, the end user 12 may insert or swipe their credit, debit, or smart card into the self-service betting machine to update the balance on the card.

[0035] User interface 16 may implement one or more telephone operators and one or more websites. End users 12 may access or communicate using such interfaces in any suitable manner. The telephone operators may separately communicate information to end users 12 and take bets from the users. Similarly, the websites may communicate betting information to end users 12 and enable end users 12 to place bets. One or more such websites may be hosted by one or more servers associated with the owner or operator of gaming system 10.

[0036] An internet betting provider may offer internet account betting by providing one or more end users 12 with online betting accounts. Using an online betting account, a customer may connect to one or more websites associated with the internet betting provider to fund the account, view betting information regarding betting events, such as variable and fixed odds, variable and fixed references, markets, high, low and spread lines, historical data, and place bets. Such online betting accounts may include one or more of various types of accounts, such as deposit accounts, credit accounts, margin accounts, stop-loss accounts, and hybrid accounts. Such accounts and their contents may be stored in an end user profile, as shown in FIG. 3.

[0037] Communications network 18 is a communications platform operable to exchange data or information between end users 12, user interfaces 16, and / or central controller 40. Communications network 18 may be an internet architecture, which allows end users to electronically execute or initiate trades associated with bets. Alternatively, communications network 18 may be an analog telephone line (Plain Old Telephone System, POTS) over which end users 12 can perform the same actions or functions. Such transactions may be assisted by a broker 30 associated with user interface 16, or may be manually keyed into a telephone or other suitable electronic device to request execution of a transaction. In other embodiments, communications network 18 may be any packet data network (PDN) providing a communications interface or interaction between any two nodes within gaming system 10. Communications network 18 may alternatively or additionally be any local area network (LAN), metropolitan area network (MAN), wide area network (WAN), wireless local area network (WLAN), virtual private network (VPN), intranet, or any other suitable architecture or system, or combination thereof, that facilitates communications within a network or telephony environment.

[0038] In one embodiment, central controller 40 comprises a processor 42 and a memory element 44. Central controller 40 generally provides back-end functionality for the methods described herein, such as receiving requests from end users 12 and processing those requests to place bets based on events occurring in a market environment, such as financial transactions within a financial market. The resulting bets may be appropriately managed and stored by processor 42 and then stored in memory element 44, such as in database 45 or any other suitable format. Processor 42 may also assist in processing any betting items or conditions requested by end users 12, such as desired maturity, exchange transaction type, odds, reference line, market line, high line, low line, and spread line values. If central controller 40 is unable to match the betting information or submitted bid bet items requested by end users 12 with those available in the market, central controller 40 may contact end users 12 and inform them of the circumstances that prevented them from fulfilling the bet.

[0039] Processor 42 may include any suitable processor for executing betting system applications or other computer instructions that facilitate betting. Processor 42 may be a CPU and / or a microprocessor, and may comprise any suitable number of processors operating in conjunction. Processor 42 is generally operable to execute software, various algorithms, calculations, or computations to determine current bet data, such as bet values, betting odds, markets, high, low, or spread lines, floating or fixed, and / or potential payout data, and to authenticate, verify, or perform any other functions that facilitate the methods disclosed herein. Processor 42 may determine these current bet data based on data received from memory element 44 and / or from financial market data element 60. In addition, processor 42 may update these current bet data based on new information received from financial market data element 60. In some embodiments, processor 42 may update the current bet data in real time, substantially in real time, or at preset intervals, such as every 5 seconds to every 30 seconds. Additionally, processor 42 may perform the operations described herein to establish betting odds, floating market lines or levels, and provide betting opportunities to end users 12 based thereon. In other embodiments, odds are determined external to gaming system 10 and are simply transmitted to central controller 40 via an external link.

[0040] Memory element 44 may include one or more memory devices that store information facilitating or related to betting, such as random access memory (RAM), read-only memory (ROM), dynamic random access memory (DRAM), fast-cycle RAM (FCRAM), static RAM (SRAM), field programmable gate array (FPGA), erasable programmable read-only memory (EPROM), electrically erasable programmable read-only memory (EEPROM), microcontroller or microprocessor, hard drive, optical media, magnetic media, etc., or combinations thereof. Memory element 44 is generally operable to store data used by processor 42 in determining odds and / or payouts. In addition to storing betting information, memory element 44 may also store software that, when executed, performs some or all of the functions described herein.

[0041] It should be noted that the internal structure of central controller 40 is flexible and can be readily changed, modified, rearranged, or reconfigured to achieve its intended operation. Accordingly, central controller 40 may be equipped with any suitable components, devices, application specific integrated circuits (ASICs), hardware, software, processors, algorithms, ROM elements, RAM elements, EPROM, EEPROM, or any other suitable objects operable to facilitate the operation of central controller 40. The structure of central controller 40 provides considerable flexibility within the environment of gaming system 10.

[0042] In alternative embodiments, user interface 16, communications network 18, and / or central controller 40 may be replaced in whole or in part by a single human being, providing a human interface between end user 12 and bets related to financial markets. In such embodiments, an agent (or any other suitable person or agent) of user interface 16 may be contacted by end user 12, for example, via telephone, network, other suitable electronic device, or directly by oral communication. The agent or agent may receive a request from end user 12 and execute a transaction, including a bet, such as a bet request, bet request terms, and other inputs. The agent or agent may then proxy or broker the request to an appropriate entity for executing the bet. The agent or agent may then record the completed transaction once and then contact end user 12 to confirm that the transaction was executed. A receipt of any suitable type may then be issued to end user 12 indicating the bet terms. Additional details related to the internal structure of central controller 40 are described below with reference to FIG. 3.

[0043] The administrator module 50 is an element that interfaces with the central controller 40 to ensure the fair and proper execution of betting transactions initiated by end users 12. The administrator module 50 is an optional component of the gaming system 10. The administrator module 50 may be used in some embodiments to control any operation of the central controller 40. For example, the administrator module 50 may be used to manually set betting odds, approve margin calls or individual bet requests, or halt certain betting actions. In selected examples, the administrator module 50 may request additional margin throughout the day without waiting for routine end-of-day settlement. In yet other scenarios, the administrator module 50 may be used for general monitoring functions. In this example, the administrator module 50 may serve as an interface through which a user submits at least one query to data stored in the system, such as a table or database. The module 50 may also serve as an interface to parse, extract, filter, delete, etc., or more generally process data stored in the system. The administrator module 50 may be accessed using a provider interface 32, which may be any type of device similar to the end user interface 16, for communicating with the central controller 40 and / or the administrator module 50. Additionally, the administrator module 50 may be implemented in software, hardware, or a combination thereof.

[0044] 2 illustrates an interface screen or page 70 for use in communication with at least one embodiment of the methods and systems disclosed herein. Interface screen 70 generally provides an opportunity for end user 12 to bet on whether a variable associated with a selected market or object, as the case may be, will reach a level higher or lower than defined market levels, such as market line 71, high line 73, low line 75, and spread line 77, at the end of a trading session or trading day. As noted above, the expiry associated with a bet or bets may vary. For illustrative purposes, expiry 79 for the interface illustrated in FIG. 2 is a daily expiry ending at the close of the market.

[0045] 2 illustrates that for the fixed odds and / or variable odds embodiments described above, system 10 may generate an interface screen including one or more betting lines, graphical objects, buttons, and / or text that collectively provide up to eight betting opportunities with respect to the values of one or more reference variables associated with an object, such as the value of an index, a particular asset or assets, or any other transferable item. As used herein, the term graphical object or graphical object is used to refer to any item displayed on an interface screen that is configured to be selected by end user 12 to submit a bet request with respect to at least one betting opportunity provided therewith, including, but not limited to, still or video images, text, buttons, and the like. Interface 70 may also include a list 72 that includes at least one selectable link for submitting a bet on a selected inter-exchange transaction.

[0046] The eight or fewer betting opportunities are based on the user's ability to bet that the identified market or an object therein will close higher or lower than at least one of four individually defined levels. In this regard, interface screen 70 may display at least one betting line having a value 81 corresponding to a selected reference variable of object 89, such as the market price of object 89, with value 81 superimposed on line 71 along with selectable images for the user to place a bet in an up position 76a (an upbet) and at least one selectable image for the user to place a bet in a down position 76b (a downbet) relative to the value 81 of betting line 71. Interface screen 70 may similarly display values for each betting line, such as value 83 associated with high line 73, value 85 associated with low line 75, and values 87a, 87b associated with spread line 77, each betting line corresponding to the value of the selected reference variable, along with corresponding images for placing a bet in either an up or down position relative to each line.

[0047] In one embodiment, the graphical objects display the odds for betting on a particular position when made available together. Lines may be displayed on the interface screen 70 in a spatial relationship based on the value of a particular line relative to another line or lines. As shown in FIG. 2, the lines may be spatially arranged such that lines of lower value are drawn below lines with higher values. The spatial distance between lines may vary to reflect any proximity in the spread between the lines. For example, the distance may narrow to provide a scaled view of the betting lines or widen to provide a zoomed view of the betting lines. Images and / or text displayed on the interface screen may be dynamically updated to reflect changes in the value of the objects or changes in the odds for betting opportunities. Betting data, such as betting lines and odds, preferably refreshes automatically without user intervention.

[0048] In one embodiment, interface screen 70 includes a high line 73, a current market line 71, and a low line 75 for betting on an index such as the FTSE. In fixed odds embodiments, the value of a current reference betting line, such as the current market line, preferably changes to reflect changes in the value of the index in real time. Thus, the high and low line values may also fluctuate based on the fluctuating current market level, for example, if the high and low lines are approximately 1% higher or lower than the market value of the reference and then current market level lines, respectively. In more volatile markets or for specific needs, such high and low lines may be any appropriate percentage level or amount above or below a reference betting line, such as the market line, to achieve preferred fixed odds for each betting position.

[0049] In the example of FIG. 2, high line 73 is at 4404. High (up bet) and low (down bet) betting opportunities represent fixed or fixed odds that persist for at least the duration of a betting session. Higher odds are generally odds against the current level (a short position), while lower odds are odds in favor of the current level (a long position or "odds on"). Thus, a pair of bet images 74a and 74b may reflect short and long positions relative to the high line. Bet 74a includes odds of 5 / 1, while bet 74b includes odds of 1 / 12. Similarly, a pair of bet images 80a and 80b may be provided reflecting higher odds of 1 / 12 (up bet, a long position) and lower odds of 5 / 1 (down bet, a short position), respectively.

[0050] As noted above, the value of market line 71, with fixed odds for high (upbet) or low (downbet) betting opportunities, approximately 10 / 11 in this example, may fluctuate or be constantly changing to reflect actual market levels for an object such as the FTSE. The then-current market line is at 4354 and includes a pair of bet images 76a and 76b, which represent high (upbet) or low (downbet) positions with associated odds of both 10 / 11. In addition, separate bet images 78a and 78b may be provided for reference and then derivatives of current market line 71, i.e., the spread line. Two bets on the spread line are submitted at levels 4361 and 4348, respectively, calculated to provide even betting odds for both the upbet and downbet betting opportunities. Therefore, the next closest current market level is provided, which also varies with respect to the market line, allowing customers to bet evenly on the market spread, i.e., the market expiring above or below the spread line. In this example, the 13 point spread straddles the reference market middle line, providing additional betting opportunities for end user 12.

[0051] In addition to reflecting market fluctuations, the values of the high and low lines may fluctuate over time to maintain desired odds that remain fixed throughout a trading session. The spread between the high, market, and low lines typically narrows or moves closer together as the session nears expiration, at least based on the time remaining in the session. This also applies to the spread line values, with the objective that the odds for bets thereon remain even for high (up bet product) and low (down bet product) positions (bet 78a and 78b). Thus, such lines not only float in the sense of market fluctuations, but also converge as the time to close the betting session progresses. For example, with five minutes left to bet in a daily session, these lines are quite narrow. Thus, over the course of a trading day or betting session, the high line typically falls and the low line typically rises, while the odds, as the case may be, remain relatively constant.

[0052] Similarly, as time passes and a market or betting session closes, certain betting opportunities may be disabled or otherwise eliminated due to practical constraints. For example, certain markets typically fluctuate in increments of overall value. Thus, for example, bet images 74a, 74b, 78a, 78b, 80a, and 80b, which have spreads that are too narrow to provide practical betting opportunities, may be eliminated as the market nears closure.

[0053] Thus, a betting provider may restrict betting opportunities by disabling the high and low lines, for example, if the lines are closer than 5 to 10 ticks or any other amount from the market line or both. Similarly, a betting provider may disable betting opportunities if the odds are too high, such as higher than or equal to a 100 / 1 threshold, or too low, such as lower than or equal to a 1 / 28 threshold. Betting opportunities may be disabled by simply deleting the image associated with the particular voided bet, as shown in FIG. 7, or by changing the color of the image to a color having a different brightness than the original color and / or by removing the odds displayed above the graphical object associated with the particular betting opportunity on the image. For example, an initially bright red image may be replaced with a light red image. It should be understood that any type of modification may be used to indicate that a bet has been removed, such as replacing a moving image with a stationary one, a rotating image with a stationary one, or replacing opaque with transparent or translucent. In addition to voiding an entire line, the Provider may void only portions of it, such as the up-bet image and / or the down-bet image.

[0054] In one embodiment, the image reflects the tradable state of the betting opportunity. The tradable state may be at least one of "tradable," "viewable," and "off." In the tradable state, the image associated with the betting opportunity is both viewable and tradable, i.e., a user may place a bet by selecting the image. In the viewable state, the image is viewable but not tradable, e.g., the betting opportunity is deleted or otherwise disabled. In the off state, the product is neither viewable nor tradable.

[0055] The 1 / 12 odds for buy bets 74b and 80a and the 5 / 1 odds for sell bets 74a and 80b, respectively, reflect the fixed odds for the corresponding lines, i.e., 4404 and 4306, which are determined based on the time remaining in the betting session and / or market volatility. Thus, end user 12 may select image 74a and use it to place a $100 bet at 5 / 1 odds that the FTSE will close above the high line. If the FTSE closes at 4425 at the end of the trading day, this bet is a winning bet and may be settled at a later time. In this example, end user 12 would collect his or her initial bet plus $500 (W × (5 / 1)) from the winning bet, for a total of $600. If end user 12 instead selects image 74b and places a $100 bet at odds of 1 / 12, then at the close of the betting session, this bet will be identified as a losing bet and end user 12 will lose his or her $100 bet. On the other hand, if the FTSE closes at 4390, end user 12 will be rewarded $100 (1 / 12) (the odds offered) in addition to his or her original bet. This amounts to a refund of approximately $108.33 for the winning bet.

[0056] As described above, the prices or values of markets or other reference lines presented to end users 12 may be provided by communication transmissions that reflect market conditions on a daily basis and effectively account for news flow and other financial parameters that may potentially affect the market. Other embodiments, described in greater detail below, provide the owner or operator of gaming system 10 with great flexibility in setting market lines and odds.

[0057] 3 is a block diagram of a central controller 40 included in gaming system 10, according to one embodiment. Central controller 40 includes a processor 42 coupled to a memory element 44. Processor 42 executes one or more applications and implements various features and functions for generating and receiving bets on betting opportunities in one or more betting sessions, and settling bets on the value of one or more financial instruments, assets, objects, etc. Memory element 44 may store the applications, various instantiations of betting instruments 90, and / or any other relevant information associated with betting instruments 90. In certain embodiments, processor 42 includes or includes at least one odds determination module 84 operable to establish, calculate, or otherwise determine odds for positions associated with one or more betting lines as disclosed herein; a price / level determination module 86 operable to establish, calculate, or otherwise determine prices or values for one or more betting lines as disclosed herein; and a bet settlement module 88 operable to settle one or more bets, each generally for providing betting opportunities to end users 12.

[0058] Betting instruments 90 are generally data elements derived from or evidence of a bet placed on the outcome of one or more events pertaining to a financial or other market. Thus, betting instruments 90 are file or database entries containing information reflecting a bet placed in system 10, and instruments 90 may include parameters related to the particular event underlying the bet. An event may include the movement or value of a financial market index, asset, or other instrument during or at the end of a predetermined period of time, as described above. Such instruments 90 may also include, where applicable, all relevant financial data and associated claims, such as participant identification, account information, bet amount, market line level, high line level, low line level, spread line level, up and down odds for each line, the time the bet is placed, the betting session in which the bet is placed, start time, expiration time, bet identification number, the status of the bet, e.g., confirmed (manual or automatic), pending, expired, won, lost, etc., or any combination thereof. Similarly, the memory element 44 may include one or more templates and / or tables 94 for use in generating a betting session, as will be described in more detail below.

[0059] During operation, in one embodiment, fluctuations in a financial market may be graphically represented on an electronic screen using symbols or graphic objects, such as red, green, or yellow arrows. Each symbol may indicate that the value of an associated financial market indicator, such as a reference variable, 1) decreased during the last predetermined period, such as the last betting session or the last relevant trade or sale in the market for the object, as indicated by, for example, a downward-pointing red arrow or simply an image or text object of an appropriate color; 2) increased during the last predetermined period or the last relevant trade or sale, as indicated by, for example, an upward-pointing green arrow or simply an image or text object of an appropriate color; or 3) remained unchanged during a subsequent predetermined period or the last relevant trade or sale, as indicated by, for example, a horizontal yellow arrow or simply remaining in its original color. Any suitable number and combination of symbols may represent any suitable portion of the reference variable's value history or fluctuations. For example, the color of the market line, the typeface of the displayed value, the text box around the displayed value, etc. may be a first color, such as blue, indicating an upward movement in the object's value. Similarly, the color of the market line, font, text box, etc. may be a second color, such as red, indicating a downward movement in the value of the object. The direction of the movement may be derived from information indicating, for example, that the object is under-bought or under-sold.

[0060] The memory element 44 of the central controller 40 may store information regarding various types of bets placed in the gaming system 10 and their outcomes. The memory element 44 may also store various betting instruments 90 and multiple end-user profiles 92. The memory element 44 may additionally store information pertaining to financial instrument numbers (FINs), market names that are the subject of particular bets, designated terms / maturities, and established odds for particular bets. These and other fields may be defined in numerous ways. For example, the term "maturity" may refer to a particular closing or settlement time and / or date on which the betting instruments 90 close, or may be based on an event itself, such as the closing bell, completing at any or a specific date in the future.

[0061] Additionally, each end user profile 92 may include any relevant information about the end user 12, the user's betting activity, biometric data, or the user's financial resources. For example, items such as number of accounts, trading history, loans and borrows, fees, available funds, available debits and credits, etc. may be reflected in the profile, fingerprint profile, etc. The end user profile 92 may be accessible only by the end user 12 via their personal identification number, or may be accessed solely by an entity or administrator authorized to perform such actions.

[0062] The odds determination module 84 generally determines the odds offered to end users 12 for a particular bet, and the pricing module 84 determines the betting line values offered to end users 12 for a particular bet. Generally, three factors may be considered in setting the odds and / or betting line values for a betting opportunity: the underlying commodity market or generally a reference level, volatility, and time. Volatility represents the uncertainty present in the market over a given period of time. Markets generally follow a log-log distribution, reflecting an abstract concept or theory that allows one to adequately estimate market fluctuations. In this sense, the mathematics used to calculate odds / betting line values is similar to that of options pricing. In other scenarios, odds calculations may be based at least in part on the exposure of the owner / operator of the gaming system 10. Note that numerous control parameters are available to the administrator of the gaming system 10. For example, the volatility factor may be manipulated in response to breaking news that is likely to significantly affect market levels. This determination may be made by an administrator and may reflect the administrator's judgment and / or experience in market theory. In other scenarios, such news items are automatically priced into financial markets.

[0063] In an alternative embodiment, odds determination module 84 determines the odds for a particular bet based on the following formula:

number

[0064] In an example scenario, the S&P 500 is believed to rarely perform poorly during a United States presidential election year. In the history of the U.S. stock market, the S&P 500 has only twice delivered negative returns to investors during election years. Therefore, during election years, control parameters may be implemented to reflect the proposition that the S&P 500 will mostly rise during that period. Similarly, markets tend to decline during times of war or patterns of increasing interest rates. In the event of a major war or a pattern such as a systematic rise in interest rates, an administrator can again manipulate the odds as deemed appropriate, for example, by specifying a desired volatility factor to reflect the possibility of this downward trend.

[0065] In yet another scenario, the odds associated with a market may be established based on the current market line in combination with the percentage of the amount bet on that market relative to the total amount accumulated in the associated betting pool. Each set of odds corresponds to a percentage, and therefore each participant also has a percentage associated with it. To form a participant group for a no-takeout bet, gaming system 10 may select participants from a participant field whose total percentages add up to the amount corresponding to the odds. The percentage corresponding to the odds is also referred to as a target percentage. For example, for an even bet, i.e., a target percentage of 50%, if the representative participant of a participant group has 5-2 odds, which carries an associated percentage of 28%, the gaming system 10 may form the participant group by selecting other participants with a total percentage of 22%, such as a participant with 7-2 odds (22%), a participant with 4-1 odds (20%) and 50-1 odds (2%), or a participant with 7-1 odds (12%) and 9-1 odds (10%). In another example, for a bet with odds of 2-1, i.e., a target percentage of 33%, if the representative participant of a participant group has odds of 6-1, which carries a percentage of 14%, the gaming system 10 may form a participant group by selecting other participants with a total percentage of 19%, such as participants with 9-1 odds (10%) and 10-1 odds (9%), participants with 5-1 odds (16%) and 30-1 odds (3%), or a single other participant with 9-2 odds (18%) or 4-1 odds (20%).

[0066] Because the number of participants in an event and the odds for a particular participant in an event vary, it may be difficult to assemble a group of participants with a total percentage that is exactly the target percentage. Therefore, administrators of the gaming system 10 may intend to form a group of participants with a total percentage that is as close to the target percentage as possible. In certain embodiments, the gaming system 10, e.g., via the odds determination module 84, may establish a percentage threshold to use in determining whether an odds bet is offered for a particular event. For example, the gaming system 10 may establish a threshold that is three percentage points above or below the target percentage. In this example, the gaming system 10 would offer odds if the total percentage for the group of participants is within three percentage points above or below the target percentage. If no bet is established in this scenario, the gaming system 10 may convert the odds bet into a straight odds bet on the representative participant. The gaming system 10 may contemplate forming participant groups using any suitable number and combination in the field of end users 12. This aspect may be implemented by disabling certain bidding opportunities until the system 10 receives opposing side bets to meet a threshold level.

[0067] In yet other embodiments, the market line may be fixed or constant over a given period of time, whereby the odds may be varied to entice or encourage end users to place additional bets. For example, if the FTSE rises 300 points to the 5,000 level in morning trading, the odds may be significantly changed, such as to 50 / 1 or 100 / 1, to induce people to bet that the FTSE will close below the initial market line. Other events that affect the corresponding rise or fall of the market may also be readily taken into account and, therefore, are clearly within the scope of the teachings of gaming system 10.

[0068] In the example above, the original market line when the FTSE started was 4700. Therefore, if the FTSE was at the 5000 level, the odds must have been attractive enough to persuade potential bettors to engage in a betting opportunity to affect a significant decline in the FTSE. Buy odds prices can therefore be generated to entice investors, i.e., bettors, to place bets. Market odds can be refreshed many times per day to provide new betting opportunities.

[0069] Pricing for fixed odds embodiments may be calculated based at least on the relationships shown in the following algorithm.

number

[0070] The odds for the fixed line embodiment are calculated using at least the relationships set forth in the algorithm described below.

number

[0071] Odds for mid- and low-line up and down bets are calculated based on similar formulas. Prices for even odds embodiments are calculated based on at least the relationships shown in the algorithm below.

number

[0072] Odds determination module 84 may be used to determine the odds for this configuration. Additionally, administrator module 50 may similarly participate in such a process for the purpose of establishing appropriate odds or refreshing the gaming environment to offer new betting opportunities. In other scenarios, any suitable element within gaming system 10 may be implemented to achieve the configuration of fixed or floating market lines, including the ability to vary the odds used to attract bettors.

[0073] FIG. 4(a) is a flow diagram illustrating one or more sequential steps involved in a method for betting on a financial or other market environment. The method may begin at 96 by initiating an initial betting session. The betting session may begin at any time, as previously described. For example, the initial betting session may begin at the market open of a trading day. For intraday sessions, subsequent betting sessions may begin essentially immediately following the expiration of the previous betting session.

[0074] In one embodiment, at 98, the system 10 generates a betting product. A betting product may be generated in various ways. A betting product may be generated at any time, such as before or at the start of a betting session. For example, as shown in FIG. 5, the system 10 may provide a betting product with a graphical element 576a to allow a user to place a bet on a particular betting session in which the market price for the Dow will close higher than the opening market price 581 of 11192.8 with odds of 10 / 11. In this regard, the betting product may be a persistent record in a database or file containing associated data representing the betting product, such as the market price at the start of the betting session, the odds for a particular betting opportunity, the expiration time, an outcome identification number, etc. In this example, the system 10 retrieves the betting product data from the database and, based thereon, communicates the betting product to the end user 12 for display. The database may then be updated to include data regarding the betting product for subsequent betting sessions.

[0075] Similarly, system 10 may generate less persistent betting opportunities. That is, system 10 receives betting data associated with a betting opportunity, such as from financial market data element 60, and temporarily maintains that data in memory, such as a system cache, for a sufficient time to provide the betting opportunity to an end user. In one embodiment, this is accomplished by accessing one or more templates at 100, retrieving bet data based on the one or more templates at 102, and storing information representing the betting opportunity in memory at 104. System 10 may delete and / or generate additional betting opportunities from memory at 108 when a betting opportunity expires due to fluctuations in the spot commodity market, such as when a session expires or immediately thereafter, or at any time thereafter. In this regard, system 10 need not necessarily persistently store each betting opportunity in a database or file.

[0076] Various types and numbers of templates may be implemented to retrieve bet data and provide betting opportunities based thereon. In one embodiment, system 10 accesses at least one template, such as a product template, that includes at least one field for each item in a betting product, such as an object code (e.g., FTSE, Dow, etc.), a session type (e.g., hour, day, etc.), a start time, an end time, etc. The system 10 then accesses at least one template and at least one table that stores desired betting data and generates a betting product based thereon. For example, for a betting product with image element 576a in FIG. 5, system 10 may access a table containing fields for the object, namely, market price, up odds, and session length, and retrieve the Dow, which are 11198.8, 10 / 11, and 5 minutes, respectively, from at least one data source.

[0077] System 10 may also use multiple templates and / or tables, such as a product table that generates object code, a session table that provides the length of time for a particular session type, etc. For example, there may be a product table that includes a horizontal axis for the FTSE and a horizontal axis for the Dow, and an associated session table that includes horizontal axes for 60-minute and 7-day intraday and weekly sessions, respectively. System 10 may implement software that applies templates to each object in the product table and uses them to generate betting opportunities for each object, including FTSE intraday and weekly betting opportunities and Dow intraday and weekly betting opportunities.

[0078] The system 10 may generate results for any number of objects for any session length. Thus, to have FTSE Daily, Vodafone Daily, BT Daily, FTSE Weekly, Vodafone Weekly, BT Weekly, FTSE Hourly, Vodafone Hourly, and BT Hourly, three objects, namely, FTSE, Vodafone, and BT, are stored in the product table, and three time periods, day, week, and hour, are stored in the session table. Two general tables are then used by the product templates to generate 3 x 3 results for a limited time period, such as 780 products per day, 156 products per week, and 7020 products per hour. Many different types of templates may be generated. Each template may control many products, and each product may be controlled by many templates. For example, there may be a template for each type of betting session, which reads the objects in the product table and generates betting opportunities for each object in the table. The number of each generated betting product is characterized in this example as M*N, where M is the number of objects and N is the number of different session types.

[0079] For floating market lines, a betting product is generated again to replace the product as a result of fluctuations in the value of the underlying commodity. Thus, a session may have multiple betting products generated successively to reflect real-time changes in the value of the object, etc. In this example, the start time of a betting product may signal the end of a betting product that started earlier in time on the same object.

[0080] At 110, at some time during a betting session, a participant may request information regarding at least one betting product. The request may be submitted via an interface screen, such as the interface screen shown in FIG. 2, which may incorporate at least one element or link that may be selected to request information regarding at least one particular betting product. For example, the interface screen may include links to display betting products associated with an object such as the Dow, NASDAQ, FTSE, or a currency such as the euro versus the dollar.

[0081] In response to the request, system 10 may communicate information related to the request to the participant at 112. The information may be communicated to the participant in various formats, such as an electronic file, such as an HTML or XML document, which may support the display of Flash™ files or other image files. The communication may result in the display of an interface screen in user interface 16 containing the relevant information, such as the interface screens shown in FIGS. 2 and 5-11. The information communicated to the participant may be determined in various ways. For example, betting product information, such as a market price or any other value associated with the object, may be retrieved from a database or from a stream source of market data for the object. For other types of information, system 10 may determine relevant betting product information, such as a high level, a low level, a spread level, and odds for up and down positions at each level, by calculating these types of information as described above.

[0082] In one embodiment, the betting product information at 114 is refreshed or reissued at least once within a betting session, or preferably periodically. For example, this information may be periodically reissued to reflect changes in the market value of an object, in real time or otherwise, thereby erasing or expiring bet images that void certain betting opportunities, changing the color of images to indicate the direction of market movements, etc. Product information may be updated using FlashMediaServer™ software, which updates information and media components accordingly. As noted above, refreshing betting product information may signal the end of a betting product within a betting session and the creation of a subsequent betting product within the same session for the same product. The information is preferably refreshed automatically, without participant intervention.

[0083] At 116, system 10 listens for a bet request from at least one participant. A participant may submit a bet request in a variety of ways. In one embodiment, a participant submits a bet request by selecting an image associated with at least one betting level or line. Similarly, the bet request may include a bet amount.

[0084] After receiving, and preferably in response to, a bet request, at 118, the system 10 transmits at least one of the bet terms to the participant for confirmation. The included terms may be at least one of the participant's identification information, account information, bet amount, marker line level, high line level, low line level, spread line level, up and down odds for each line, time the bet was placed, the betting session in which the bet was placed, the duration of the betting session, the start time of the betting session, the expiration time of the betting session, a bet identification number, etc. The request terms preferably reflect a particular selected betting product. For example, a term for a fixed-odds bet on the market price of an object may include fixed odds for a particular selected position, such as an up or down position, and the market price at the time the bet request is submitted. Similarly, a term for a floating-odds bet on the market price of an object may include odds for a selected position determined at the time the bet request is submitted and the market price at the start of the session. The items may be conveyed as fields within an interface screen incorporating at least one selectable element for confirming a bet and / or at least one element for the purpose of allowing a participant to change one or more items, such as the amount of a bet.

[0085] A confirmed bet request is generally received at 120 and validated at 122. Validation may include one or more steps. For example, validation may involve determining whether a selected betting product exists, is valid, and is available for trading. Similarly, validation may involve verifying that no previous bet lapses have occurred and that the odds or value items in the bet request are not significantly different from those communicated to the participant, such as by 50%, or that the bet is not zero and is between any minimum and maximum ranges.

[0086] As described above, a betting instrument 90 may then be created at 124 to include terms of the one or more bets it represents. The betting instrument 90 is typically a persistent record, for example in a table, database, or resilient cache, that is preserved at least until the bet is settled.

[0087] At 126, a determination is made as to whether the betting session has expired. If the betting session has not expired at 126, the system 10 refreshes and continues to refresh betting product information at 114 while listening to bet requests. If the system 10 determines at 116 that the betting session has expired, the system 10 proceeds with the settlement of bets at 128, initiates a subsequent session at 132, or terminates processing for a particular trading day at 120 if no additional sessions are initiated during that trading day. The settlement may occur immediately after the expiration of the betting session, concurrent with the execution of the next betting session, for example, via a debit or credit to the end user's account, or may be extended if the end user 12 has extended a certain amount of credit. In other cases, as permitted by the relationship between the end user 12 and the administrator, payment may simply be mailed or electronically communicated by the betting provider in the event of a win or by the end user 12 in the event of a loss. Similarly, biometric data may be used to verify payments or debits from authorized account users.

[0088] Settlement may occur in any number of ways, depending on specific needs. A given end user 12 may have a certain number of bets in effect at any given time. For example, an end user 12 may be betting on an overall rise in the NASDAQ market, with a one-day expiration period and a German DAN equivalent (short position) with a five-minute expiration period. Thus, the method of FIG. 4(a) may be repeated for each session, object, betting opportunity, etc., to accommodate such functionality. Furthermore, settlement may occur for multiple bets with different expiration periods at a common time, such as the last expiration period of bets expiring within the same trading day or week, or at the end of the trading day.

[0089] Any relevant information may be communicated to end users 12 of the gaming system so that they are notified of changes in the value of their betting instruments 90 or news that may affect their positions. For example, market level data, employment figures, and / or GDP statistics may be provided to end users 12. Other provided information may simply update the expected value of their betting instruments 90 based on current market conditions. Administrators of the gaming system 10 may ignore or use this information to provide new betting opportunities for potential gamers. These opportunities may be immediately displayed to end users 12 so that they may participate in further betting opportunities through the gaming system 10.

[0090] As described above, a bet request may be validated in various ways. Referring to FIG. 4(b), in one embodiment, validation begins with receiving a bet request at 2020. At 204, a determination is made as to whether any other requests have been deemed valid. For example, if there has been no previous validation of a bet request within the same betting session, the system 10 applies at least one validation test to the bet request at 206. The system 10 applies tests to determine, for example, whether a betting product exists at 208, whether it is valid at 210, or whether it is tradable at 212. The system 10 may also determine whether the session or the bet request itself has expired at 214, or whether the bet request has at least one item that exceeds a certain limit at 216. Any number of restrictions may be applied to the validation process, such as minimum, maximum, and non-zero restrictions, where the system determines whether a bet exceeds a participant's or organizer's betting limits. The system 10 may also determine at 218 whether a value, such as a market price, differs from that communicated to the participant by the recipient of the bet request within a certain period of time. For example, the system may validate the bet request if the betting line value for the bet request does not exceed a certain percentage, such as 50%, or a certain amount, such as within 30 seconds, from the value communicated to the participant prior to the bet request. Similarly, a determination may be made as to the trustworthiness of the user submitting the bet request based on biometric data received from the user, such as by comparing it to that stored within the system.

[0091] In one embodiment, at 218, a determination is made as to whether the bet request is suspicious. That is, in some instances, a participant may prevent incoming data from replacing expired data previously communicated to the participant. The participant may then submit a bet on the expired betting line value and corresponding odds that are more favorable to the participant than the current betting line value. For example, as shown in FIG. 5, a low line value of 11183.8 for the Dow at time T1 may be offered to the participant with down bet odds of 6 / 1. At a later time T2, as shown in FIG. 9, the market price fluctuates below the low line value at T1 to 11255.2. Thus, the down bet, i.e., the low line value, submitted at T1 becomes "money" at the market price at T2. Therefore, a determination may be made as to whether the participant intends to bet on the expired, more favorable betting line value and / or bet. This may be accomplished in various ways. In one embodiment, system 10 determines whether the betting line value or odds of the bet request are any one of a number generated as of the activation time. For example, in relatively less volatile markets, the betting line value or odds of the bet request may be required to match those of the current betting opportunity. In more volatile markets, the bet request may be required to match at least one of the three previous betting opportunities. Exceptions may apply if current market conditions at the activation time are less favorable for the bet request.

[0092] If a determination is made that the bet request is invalid, an appropriate message may be communicated to the participant at 226. Similarly, a valid request may be triggered at 222 to indicate a determination that the bet is valid and / or accepted.

[0093] If the other request is deemed valid at 204, the system 10 compares the bet request with the validated requests at 232 to determine whether at least one of the bet request's parameters falls within a range or threshold of the confirmed request. If the bet request does not fall within the range, the bet request may be tested against a default validation test at 206. If the bet request falls within the range, the bet request may be automatically approved at 222, and a message to that effect may be communicated to the participant, thereby passing the default validation test. Various criteria may be applied in this regard. For example, a bet request may be automatically approved if its time, betting line value, odds, or a combination thereof falls within a range of that of a manually or otherwise confirmed bet request. For example, a bet request may be automatically approved if it is within 5 seconds and 3 price units (e.g., between 4503 and 4497) of the manually confirmed bet request's betting line value at 4500. Depending on the session duration, the time criteria may range anywhere from 1 to less than 30 seconds, or more. The price scale may similarly range anywhere from 1 to 1000 units.

[0094] 5-8 illustrate interface screens for use in connection with at least one of the variable odds / fixed line embodiments described herein. Interface screen 500 may include a list 72 with at least one user-selectable link displaying betting opportunities for a particular object, such as an index link and an FX link. Each of the links may be further drilled down to allow the user to select an index from among multiple available indexes, such as the FTSE or Dow, and select from multiple available foreign exchange rates, such as USD vs. EUR or USD vs. JPY. The system may also provide multiple betting opportunities for each object with different session lengths; in this example, list 72 may allow the user to drill down to a specific session length, such as 5 minutes, 1 hour, 1 day, or 1 week.

[0095] When a user selects one of the links, the user typically submits a request to bet on information about the selected object associated with that link. In response to this selection, the system updates or otherwise generates a display of at least one betting line incorporated into interface screen 500, such as a reference starting level line 571, a high line 573, and a low line 575. Each of the betting lines may have associated values, such as a market value 581 above reference starting level line 571, a high line value 583 above high line 573, and a low line value 585 above low line 575, superimposed thereon, for example. Each of the lines and values may have at least one selectable associated betting opportunity image for the user to use to submit a bet request. For example, the starting level line may have associated therewith an up-bet image 576a and a down-bet image 576b. Similarly, high and low lines may be included along with up-bet images 574a, 580a and down-bet images 574b, 580b. Interface screen 500 includes odds for each offered betting opportunity, which are displayed on each betting opportunity's selectable image. Interface screen 500 may also include a running level line 506 that indicates the value of the market at different times within a betting session to reflect changes in the value of the object in real time. The running level line 506 may move spatially, for example, perpendicular to the displayed betting lines.

[0096] Figures 5 through 8 are interface screens offering betting opportunities on the Dow for a five-minute betting session ending at 11:55 AM on August 3. It can be seen that betting line values remain the same throughout the betting session, with the odds for each betting opportunity varying based at least in part on the value of the live level line 506. It can also be seen that the down betting opportunity associated with the high level line 574b in Figure 5 was disabled in Figure 6. As the betting session progresses, short position betting opportunity images 583b, 580b may be disabled, as shown in Figure 7. Similarly, all betting opportunity images may be disabled near the close of the session, as shown in Figure 8. Figure 9 shows that the interface screen 500 with down bet images 576b, 583b was disabled based on the movement of the live level line 506 toward these positions relative to the starting level line 571 and the high level line 573.

[0097] 10-11 illustrate interface screens for use in connection with at least one embodiment of the fixed odds / variable lines described herein. In response to selecting one of the links 72, the system updates the interface screen 500 to include at least one betting line, such as a current level line 671, a high line 673, a low line 675, and a spread line 677. Each of the betting lines has an associated value superimposed above the line, such as a market value above the starting level line 671, a high line value 683 above the high line 673, a low line value 685 above the low line 675, and a spread value 687a above the spread line 677. Each of the lines and values may have at least one associated selectable betting opportunity image for a user to use to submit a bet request. For example, the reference current level line 671 may have an associated up-bet image 676a and a associated down-bet image 676b. Similarly, the high, low, and spread lines may have associated up bet images 674a, 680a, 678a and down bet images 674b, 680b, 678b. In this example, interface screen 500 updates the current level line and upper bet line values at different times during a betting session to reflect real-time changes in the values of the objects.

[0098] Figures 10-11 provide successive betting opportunities on the Dow during a five-minute betting session ending at 2:25 PM on August 3. It can be seen that the odds for each offered betting opportunity remained constant during the betting session, while the values of the betting level lines changed to reflect fluctuations in the market value of the Dow. The spread between the high and low lines narrowed from 15.5 in Figure 10 to 14.5 in Figure 6. Upward or downward movements in the spot commodity market may be displayed on the interface screen. For example, upward movements may be indicated in blue, as shown above the low line value 685 in Figure 11, and downward movements may be indicated in red, as shown above the spread line values 687a and 687b in Figure 11.

[0099] Although the foregoing invention has been described in detail for purposes of clarity of understanding, those skilled in the art will, upon reading and understanding this disclosure, appreciate that various changes in form and detail may be made without departing from the true scope of the invention as defined in the appended claims.

[0100] (First Supplement) The method of first Appendix 1 is a method implemented using a system including at least one processor and a memory element having stored software, the method including the steps of initiating a first betting session; communicating, by the at least one processor, betting product information to at least one user; receiving, by the at least one processor, a plurality of bet requests from a user to place bets on at least one betting product, each of the plurality of bet requests including at least one bet item of the betting product information; validating one of the plurality of bet requests; and validating, by the at least one processor, another of the plurality of bet requests. determining, by the at least one processor, that a numerical item associated with one of the plurality of bet requests is within a non-zero range of a corresponding numerical item associated with one of the plurality of bet requests that has been validated; validating, by the at least one processor, another of the plurality of bet requests based on determining that the numerical item associated with the other of the plurality of bet requests is within a non-zero range of a corresponding numerical item associated with one of the plurality of bet requests that has been validated; generating, by the at least one processor, betting means for each of the validated bet requests based at least in part on validating one of the plurality of bet requests and validating the other of the plurality of bet requests; and settling a bet associated with the betting means. The method of First Appendix 2 is the method of First Appendix 1, wherein the step of validating one of the plurality of bet requests is performed manually. The method of First Supplementary Note 3 is the method of First Supplementary Note 1, wherein the step of validating one of the plurality of bet requests includes applying at least one validation test selected from: determining whether the betting product exists; determining whether the betting product is active; determining whether the betting product is available for trading; and determining whether the bet request exceeds a limit. The method of first appendix 4 is the method of first appendix 1, wherein the step of validating one of the plurality of bet requests includes determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user. The method of first appendix 5 is the method of first appendix 1, wherein the step of validating one of the plurality of bet requests includes determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user within a period of time after receiving one of the plurality of bet requests. The method of first appendix 6 is the method of first appendix 1, wherein the step of validating one of the plurality of bet requests includes determining whether an item associated with the bet request differs by a predetermined amount from information about the betting product communicated to the at least one user. The method of First Supplementary Note 7 is the method of First Supplementary Note 1, wherein the at least one betting item includes a betting line value, and another one of the plurality of bet requests is activated based on the betting line value associated with another one of the plurality of bet requests being within a range of the betting line value associated with one of the activated bet requests. The method of First Supplementary Note 8 is the method of First Supplementary Note 1, wherein the at least one betting item includes odds for a bet request, and another one of the plurality of bet requests is activated based on the odds associated with another one of the plurality of bet requests being within a range of the odds associated with one of the activated bet requests. The method of First Supplementary Note 9 is the method of First Supplementary Note 1, wherein the at least one betting item includes a time of a bet request, and another one of the plurality of bet requests is activated based on the time associated with another one of the plurality of bet requests being within a range of the time associated with one of the activated bet requests. The method of first Supplementary Note 10 is the method of first Supplementary Note 1, including the step of starting a second betting session immediately after expiration of the first betting session. The system of first Appendix 11 is a system including at least one processor and a memory element having stored software, the system including the steps of: initiating a first betting session by the at least one processor; communicating, by the at least one processor, information on betting products to at least one user; receiving, by the at least one processor, a plurality of bet requests from one user to place bets on at least one betting product, each of the plurality of bet requests including at least one bet item of the information on the betting product; validating one of the plurality of bet requests; and validating, by the at least one processor, other of the plurality of bet requests. determining, by the at least one processor, that a numerical item associated with one of the plurality of bet requests is within a non-zero range of a corresponding numerical item associated with one of the plurality of activated bet requests; validating, by the at least one processor, another of the plurality of bet requests based on determining that the numerical item associated with the other of the plurality of bet requests is within a non-zero range of a corresponding numerical item associated with one of the plurality of activated bet requests; generating, by the at least one processor, bet means for each of the validated bet requests based at least in part on validating one of the plurality of bet requests and validating the other of the plurality of bet requests; and settling a bet associated with the bet means. The system of First Appendix 12 implements the method of the system of First Appendix 11, wherein the step of validating one of the plurality of bet requests is performed manually. The system of First Appendix 13 performs the method of the system of First Appendix 11, wherein the step of validating one of the plurality of bet requests includes applying at least one validation test selected from: determining whether the betting product exists; determining whether the betting product is active; determining whether the betting product is tradable; and determining whether the bet request exceeds a limit. The system of first Appendix 14 performs a method as in the system of first Appendix 11, wherein validating one of the plurality of bet requests includes determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user. The system of first Supplementary Note 15 performs a method as in the system of first Supplementary Note 11, wherein the step of validating one of the plurality of bet requests includes determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user within a period of time after receiving one of the plurality of bet requests. The system of first Appendix 16 performs a method in the system described in first Appendix 11, wherein the step of validating one of the plurality of bet requests includes determining whether an item associated with the bet request differs by a predetermined amount from information about the betting product communicated to the at least one user. The system of First Supplementary Note 17 performs the method of the system of First Supplementary Note 11, wherein the at least one betting item includes a betting line value, and another one of the plurality of bet requests is activated based on the betting line value associated with another one of the plurality of bet requests being within a range of the betting line value associated with one of the activated bet requests. The system of First Appendix 18 implements a method of the system described in First Appendix 11, wherein the at least one betting item includes odds for a bet request, and another one of the plurality of bet requests is activated based on the odds associated with another one of the plurality of bet requests being within a range relative to the odds associated with one of the activated bet requests. The system of First Appendix 19 implements the method of the system described in First Appendix 11, wherein the at least one betting item includes a time of a bet request, and another one of the plurality of bet requests is activated based on the time associated with another one of the plurality of bet requests being within a range of the time associated with one of the activated bet requests. The system of first Appendix 20 performs a method in the system of first Appendix 11, including the step of initiating a second betting session immediately after the expiration of the first betting session.

[0101] (Second Note) The method of Second Appendix 1 is a method carried out using a system including at least one processor and a memory element storing software including a program executed by the at least one processor, wherein when the program is executed by the at least one processor, the at least one processor performs the following steps: initiating a first betting session; generating a betting product and storing it in the memory element and communicating information about the betting product stored in the memory element to at least one user; receiving a plurality of bet requests from one user to place bets on at least one betting product and storing them in the memory element, each of the plurality of bet requests including at least one bet item of information about the betting product; and validating one of the plurality of bet requests stored in the memory element. and determining whether the numeric item is within a non-zero range relative to the corresponding numeric item associated with one of the activated bet requests by comparing a numeric item associated with another of the plurality of bet requests stored in the memory element with a corresponding numeric item associated with one of the activated bet requests; validating the other of the plurality of bet requests based on determining whether the numeric item associated with the other of the plurality of bet requests stored in the memory element is within a non-zero range relative to the corresponding numeric item associated with the activated one of the plurality of bet requests; generating and storing betting options for each of the activated bet requests based at least in part on validating the one of the plurality of bet requests and validating the other of the plurality of bet requests; and settling a bet associated with the betting options stored in the memory element. The method of Second Appendix 2 is the method of Second Appendix 1, wherein when the program is executed by the at least one processor, the at least one processor performs the step of validating one of the plurality of bet requests based on a manual operation. The method of Second Appendix 3 is the method of Second Appendix 1, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, applying at least one validation test selected from among: determining whether the betting product exists; determining whether the betting product is active; determining whether the betting product is tradable; and determining whether the bet request exceeds a limit. The method of Second Appendix 4 is the method of Second Appendix 1, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor determining whether items accompanying the bet request differ from information about the betting product communicated to the at least one user. The method of Second Appendix 5 is the method of Second Appendix 1, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user within a certain period of time after receiving one of the plurality of bet requests. The method of Second Appendix 6 is the method of Second Appendix 1, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor determining whether an item associated with the bet request differs by a predetermined amount from information about the betting product communicated to the at least one user. The method of Second Supplementary Note 7 is the method of Second Supplementary Note 1, wherein the at least one betting item includes a betting line value, and the step of validating another one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor validating the other one of the plurality of bet requests based on the betting line value associated with the other one of the plurality of bet requests being within a certain range of the betting line value associated with one of the validated one of the plurality of bet requests. The method of Second Supplementary Note 8 is the method of Second Supplementary Note 1, wherein the at least one betting item includes odds for a bet request, and the step of validating another one of the plurality of bet requests includes, when the program is executed by the at least one processor, validating the other one of the plurality of bet requests based on the odds associated with the other one of the plurality of bet requests being within a certain range of the odds associated with one of the validated plurality of bet requests. The method of Second Supplementary Note 9 is the method of Second Supplementary Note 1, wherein the at least one betting item includes a time of a bet request, and the step of validating another one of the plurality of bet requests includes, when the program is executed by the at least one processor, validating the other one of the plurality of bet requests based on the time associated with the other one of the plurality of bet requests being within a certain range of the time associated with one of the validated plurality of bet requests. The method of Second Supplementary Note 10 is the method of Second Supplementary Note 1, further comprising, when the program is executed by the at least one processor, causing the at least one processor to initiate a second betting session immediately after expiration of the first betting session. The system of Second Appendix 11 is a system including at least one processor and a memory element storing software including a program executed by the at least one processor, wherein when the program is executed by the at least one processor, the at least one processor performs the following steps: starting a first betting session; generating a betting product and storing it in the memory element, and communicating information about the betting product stored in the memory element to at least one user; receiving a plurality of bet requests from one user to place bets on at least one betting product and storing them in the memory element, each of the plurality of bet requests including at least one bet item of information about the betting product; validating one of the plurality of bet requests stored in the memory element; a step of comparing a numerical item associated with another one of the plurality of bet requests stored in the memory element with a corresponding numerical item associated with one of the activated bet requests to determine whether the numerical item is within a non-zero range relative to the corresponding numerical item; a step of validating the other one of the plurality of bet requests based on determining that the numerical item associated with the other one of the plurality of bet requests stored in the memory element is within a non-zero range relative to the corresponding numerical item associated with one of the activated bet requests; a step of generating betting means for each of the activated bet requests and storing them in the memory element based at least in part on validating the one of the plurality of bet requests and validating the other one of the plurality of bet requests; and a step of settling a bet associated with the betting means stored in the memory element. The system of Second Appendix 12 is a system that executes a method in the system of Second Appendix 11, wherein when the program is executed by the at least one processor, the at least one processor performs a step of validating one of the plurality of bet requests based on a manual operation. The system of Second Appendix 13 is a system that performs the method of the system of Second Appendix 11, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, applying at least one validation test selected from among: determining whether the betting product exists; determining whether the betting product is active; determining whether the betting product is tradable; and determining whether the bet request exceeds a limit. The system of Second Appendix 14 is a system that performs the method of the system of Second Appendix 11, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor determining whether items accompanying the bet request differ from information about the betting product communicated to the at least one user. The system of Second Appendix 15 is a system that performs the method of the system of Second Appendix 11, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor determining whether items associated with the bet request differ from information about the betting product communicated to the at least one user within a certain period of time after receiving one of the plurality of bet requests. The system of Second Appendix 16 is a system that performs the method of the system of Second Appendix 11, wherein the step of validating one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor determining whether an item accompanying the bet request differs by a predetermined amount from information about the betting product communicated to the at least one user. The system of Second Appendix 17 is a system that performs the method of the system of Second Appendix 11, wherein the at least one betting item includes a betting line value, and the step of validating another one of the plurality of bet requests includes, when the program is executed by the at least one processor, the at least one processor validating the other one of the plurality of bet requests based on the betting line value associated with the other one of the plurality of bet requests being within a certain range of the betting line value associated with one of the validated one of the plurality of bet requests. The system of Second Appendix 18 is a system that executes the method of the system of Second Appendix 11, wherein the at least one betting item includes odds for a bet request, and the step of validating another one of the plurality of bet requests includes, when the program is executed by the at least one processor, validating another one of the plurality of bet requests based on the odds associated with the other one of the plurality of bet requests being within a certain range relative to the odds associated with one of the validated plurality of bet requests. The system of Second Supplementary Note 19 is a system that executes the method of the system of Second Supplementary Note 11, wherein the at least one betting item includes a time of a bet request, and the step of validating another one of the plurality of bet requests includes, when the program is executed by the at least one processor, validating another one of the plurality of bet requests based on the time associated with the other one of the plurality of bet requests being within a certain range relative to the time associated with one of the validated bet requests. The system of Second Supplementary Note 20 is a system that executes the method of the system of Second Supplementary Note 11, including, when the program is executed by the at least one processor, initiating a second betting session immediately after expiration of the first betting session.

Claims

1. 1. A method comprising: receiving a request for betting information; causing a user interface to display a graphical interface screen, the graphical interface screen comprising: a market betting line having a value corresponding to the market value of the object; a high line having a value corresponding to an amount greater than the market value of the object; a low line having a value corresponding to an amount less than the market value of the object, each of the market, high, and low lines being spatially positioned on the interface screen based at least on the line's respective value; at least one graphical object associated with each of the betting lines, the at least one graphical object comprising: an upbet request to bet on one of the market value, the high line value, and the low line value at a later time reaching a level higher than one of the market value, the high line value, and the low line value at an initial time; at least one graphical object selectable for placing at least one of a down bet request to bet on one of the market value, the high line value, and the low line value that has reached a level at the later time that is lower than one of the market value, the high line value, and the low line value at the first time; displaying a graphical interface screen including odds associated with at least one of the up-bet request and the down-bet request; and automatically refreshing at least one of the market betting line, the high line, the low line, and the odds to reflect fluctuations in the market value of the object.

2. 1. A method comprising: receiving a request for betting information; causing a user interface to display a graphical interface screen, the graphical interface screen comprising: and including at least one betting line having a value corresponding to the value of a reference variable associated with the object, and at least one graphic object selectable for input into at least one of an upbet request for a bet on the value of the reference variable reaching a higher level at a later time than the value of the reference variable at an initial time, and a downbet request for a bet on the value of the reference variable reaching a lower level at the later time than the value of the reference variable at an initial time.

3. the at least one betting line includes a market betting line, the value of the reference variable for the market betting line corresponds to a market value for the object, and the at least one graphical object includes: an upbet request for a bet on the market value of the object at the later time that is higher than the market value of the object at the first time; and 3. The method of claim 2, wherein at least one downbet request is selectable for placing a bet on the market value of the object at the later time that is lower than the market value of the object at the first time.

4. The at least one betting line includes a high line, the high line value corresponding to an amount higher than the value of the reference variable, and the at least one graphical object includes: an upbet request for a bet on the value of the reference variable at the later time that is higher than the high line value at the first time; and 3. The method of claim 2, wherein at least one downbet request is selectable for betting on the value of the reference variable at the later time that is lower than the high line value at the first time.

5. The at least one betting line includes a low line, the low line value corresponding to an amount lower than the value of the reference variable, and the at least one graphical object includes: an upbet request for a bet on the value of the reference variable at the later time that is higher than the low line value at the first time; and 3. The method of claim 2, wherein at least one downbet request is selectable for betting on the value of the reference variable at the later time that is lower than the low line value at the first time.

6. the at least one betting line includes a plurality of spread lines, the first spread betting line having a value corresponding to an amount higher than the value of the reference variable and a second spread betting line having a value corresponding to an amount lower than the value of the reference variable, and the at least one graphical object includes: an upbet request for a bet on the value of the reference variable at the later time that is higher than the first spread betting line value at the first time; and 3. The method of claim 2, wherein at least one downbet request is selectable for betting on the value of the reference variable at the later time that is lower than the second spread betting line value at the first time.

7. The interface a first graphic object selectable for submitting an up-bet request; a second graphical object selectable for placing a down bet request; each of the plurality of the graphical objects is spatially displayed on the interface screen relative to the betting line; 3. The method of claim 2, wherein the method includes determining odds for at least one of an up bet and a down bet, the graphical interface displays at least one of the odds for the up bet and the odds for the down bet, and the at least one of the odds for the up bet and the odds for the down bet is superimposed on the graphical object.

8. 3. The method of claim 2, comprising initiating a betting session having a start time and an end time, wherein the value of the reference variable at the later time is determined at the end time of the session, and the object includes at least one of an asset and an index.

9. 9. The method of claim 8, wherein the betting session comprises at least one of a five minute duration, a 30 minute duration, an hour duration, and a day duration.

10. a trading day for receiving bet requests includes a plurality of betting sessions each including an intraday validity period, at least one of the plurality of betting sessions beginning substantially immediately after the expiration of another of the plurality of betting sessions; 10. The method of claim 9, further comprising the step of settling bets received in the first betting session in parallel with the running of the second betting session.

11. the betting lines have static values that remain unchanged during the betting session, the value of the reference variable at the initial time is set to the value of the reference variable at the start time of the betting session, and the method includes determining odds for at least one of an up bet and a down bet based at least on the value of the reference variable at times after the initial time; 9. The method of claim 8, further comprising receiving a bet request having odds determined at the time of the bet request.

12. 12. The method of claim 11, wherein the graphical interface includes at least one of odds for the up bet and odds for the down bet, and the method includes a step of automatically refreshing at least one of the odds for the up bet and odds for the down bet to reflect changes in the value of the reference variable during the betting session.

13. determining odds for at least one of the up bet and the down bet, the odds remaining unchanged for the betting session; The method of claim 8 , wherein the interface screen includes symbols indicating at least one of an upward and downward fluctuation in the value of the reference variable.

14. The interface screen is: A plurality of betting lines, a reference betting line having a value corresponding to the value of the reference variable at the first time; a high line having a value corresponding to an amount higher than the value of the reference variable at the first time; and at least one low line having a value corresponding to an amount lower than the value of the reference variable at the first time; a plurality of graphical objects selectable for placing at least one of an up-bet request and a down-bet request on each of the betting lines, the method comprising: determining odds for at least one of an up bet and a down bet for each of the betting lines, the odds remaining constant during the betting session; and determining at least one of the high line value and the low line value at a second time to reflect a change in the value of the reference variable at the second time.

15. the reference betting line and at least one of the high line and the low line are spatially displayed on the interface screen a first distance from each other at the first time and a second distance from each other at the second time, the first distance and the second distance narrowing based at least on the time remaining in the betting session, and at least one of the high line value and the low line value being refreshed to reflect changes in the value of the reference variable during the betting session in real time; 15. The method of claim 14, further comprising receiving a bet request for a bet on the value of the reference variable at the later time being higher or lower than the value of the reference variable at the time of the bet request.

16. The interface screen is: A plurality of betting lines, a reference betting line having a value corresponding to the value of the reference variable at the first time; a first spread betting line having a value corresponding to an amount greater than the value of the reference variable; a second spread betting line having a value corresponding to an amount less than the value of the reference variable at the first time; a plurality of graphic objects selectable for the input of at least one of an up bet request for a bet on the value of the reference variable at the later time that is higher than the first spread betting line value and a down bet request for a bet on the value of the reference variable at the later time that is lower than the second spread betting line value, wherein the method comprises: determining odds for at least one of the up bet and the down bet for each of the betting lines, the odds remaining even during the betting session; determining at least one of the first spread betting line value and the second spread betting line value at the second time to reflect a change in the value of the reference variable at the second time; The method of claim 8 , wherein the value of the reference variable corresponds to a market price of the object.

17. receiving at least one bet request; confirming the at least one bet request; storing a betting instrument containing information reflecting said confirmed bet request; and settling the confirmed at least one bet request.

18. 18. The method of claim 17, wherein the betting instruments include a bet amount, a betting position, the value of the reference variable, and odds for the bet.

19. 20. The method of claim 18, wherein the betting instrument is generated for placing bets in a betting session, the betting instrument including at least one of a time at which the bet is placed, a start time of the betting session, a duration of the betting session, and an expiration time of the betting session.

20. 1. An apparatus comprising: at least one processor; At least one memory element having instructions stored thereon that, when executed by said at least one processor, receiving a request for betting information; causing a user interface to display a graphical interface screen, the graphical interface screen comprising: a memory element instructing the at least one processor to: include at least one betting line having a value corresponding to a value of a reference variable associated with an object; and at least one graphical object selectable for insertion into at least one of an up-bet request for a bet on a value of the reference variable that at a later time has reached a level higher than the value of the reference variable at an initial time, and a down-bet request for a bet on a value of the reference variable that at a later time has reached a level lower than the value of the reference variable at an initial time; An apparatus comprising:

Images