Automated Cash Dispensing via Mobile Verification
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Solution Overview
Problem
Current sports betting systems delay the receipt of physical cash winnings, as payouts are typically made electronically and can take hours, days, or longer to complete.
Innovation Solution
The system enables immediate or nearly immediate access to winnings in physical cash through item dispensing devices, such as ATMs, by using a mobile electronic device to request a payout, verify entitlement, and initiate cash dispensing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Extent of automation
If electronic transfer services are used for payouts, then the payout process can be automated and processed remotely, but the time required to receive physical cash is significantly extended
Solution Approach 1:
The payout process is segmented into two independent parts: (1) electronic verification and authorization of winnings through automated systems, and (2) physical cash dispensing through ATM machines. This segmentation allows the automated electronic process to handle verification instantly while the physical cash delivery is handled separately through automated dispensing machines, eliminating the delay between verification and cash receipt
Solution Approach 2:
ATM machines serve as intermediaries between the electronic sportsbook system and the bettor. The ATM receives electronic authorization from the sportsbook system and automatically dispenses physical cash without requiring manual bank transfer processes. This intermediary device bridges the gap between electronic verification and physical cash delivery, enabling immediate payout
2Reliability
If electronic transfers are used for winnings, then the sportsbook can maintain control over the payout process, but the bettor experiences delayed access to their winnings
Solution Approach 1:
The sportsbook system performs preliminary verification and authorization of winnings electronically before the bettor arrives at the ATM. The system pre-validates the payout amount and prepares the transaction in advance, so that when the bettor initiates the payout at the ATM, the verification is already complete and cash can be dispensed immediately without further processing delays
Solution Approach 2:
The traditional mechanical bank transfer process is replaced with an automated electronic verification system that communicates directly with ATM machines. Instead of manual bank processing that takes hours or days, the system uses electronic data exchange and automated authentication protocols to verify winnings instantly, then triggers automatic cash dispensing at the ATM
Data Source
AI summary
An apparatus for dispensing wager payouts that includes a body and a dispenser disposed therein that stores a plurality of items to be dispensed. The apparatus further includes: a request processing circuit; a verification circuit; and a payout provisioning circuit. The request processing circuit is structured to interpret a payout request command generated by a user. The payout request command corresponds to a payout for one or more wagers made by the user. The verification circuit is structured to, in response to the payout request command, determine that the user is authorized to receive the payout. The payout provisioning circuit is structured to, in response to determining that the user is authorized to receive the payout, cause the dispenser to dispense an amount of the plurality of items corresponding to the payout.