Bank Network Intermediary for Wagering Platform Security
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Solution Overview
Problem
Users of sports wagering platforms face security concerns when sharing banking and credit details with multiple platforms and lack tools for responsible gaming, such as wager amount or frequency limitations, especially with the proliferation of online sports wagering post-1992 Professional and Amateur Sports Protection Act invalidation.
Innovation Solution
A system integrating a bank network into a gambling platform that provides banking services, allowing users to set risk limitations on wagers before placement, ensuring that wagers comply with these limits before being accepted, and preventing wagers that exceed them.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If users provide banking details to multiple wagering platforms, then betting options increase, but security risk increases
Solution Approach 1:
The patent implements a third-party banking intermediary system that acts as a mediator between users and multiple wagering platforms. Users provide banking credentials only to this trusted intermediary, which then handles all financial transactions across different platforms. This eliminates the need for users to share sensitive banking information with multiple potentially insecure platforms, thereby maintaining security while enabling versatile betting options across multiple platforms.
2Adaptability or versatility
If users can access multiple platforms, then wagering flexibility increases, but exposure to harmful factors increases
Solution Approach 1:
The patent implements preliminary action by requiring users to set wagering limits and responsible gaming parameters in advance, before actual wagering activities begin. The third-party banking system pre-configures these restrictions and automatically enforces them across all platforms. This prevents users from accidentally or intentionally exceeding safe wagering boundaries, thereby maintaining flexibility while mitigating responsible gaming risks through pre-established controls.
3Ease of operation
If banking information is shared with multiple platforms, then platform accessibility increases, but information security decreases
Solution Approach 1:
The patent employs a third-party banking intermediary as a secure mediator that centralizes the storage and management of users' sensitive banking information. This intermediary system implements robust security protocols and encryption standards, allowing users to access multiple wagering platforms without directly sharing their banking credentials with each platform. The intermediary tokenizes or masks sensitive data, thereby maintaining high information security while preserving ease of platform accessibility.
Data Source
AI summary
A system to provide the user of an in play wagering system in which all of the user's wallet information is handled by a third party bank network keeping user account information private from the wagering system while providing the wagering system with verification of the user's ability to cover the wager as well ensure the wager is below user specific risk limitations.