Geofenced Sports Wagering With Real-Time Actionable Alerts
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Solution Overview
Problem
Existing sports wagering applications require constant monitoring, are difficult to access, lack geofencing for state lines, have time-out features, and fail to provide seamless and instantaneous betting experiences.
Innovation Solution
A system and method that utilizes multi-factor and risk-based authentication to generate geofences, set predefined parameters, and send actionable alerts for sports wagering, allowing users to confirm bets via biometrics and interact with third-party operators.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If existing sports wagering applications require constant monitoring and accessing to determine event status and betting parameters, then users can obtain real-time betting information, but user convenience deteriorates and time consumption increases
Solution Approach 1:
The system performs preliminary actions by continuously monitoring betting parameters, event status, and odds changes in the background before users need the information. The application pre-processes and caches relevant betting data, so when users access the app, the information is already prepared and immediately available, eliminating the need for constant user-initiated checking and reducing time consumption.
Solution Approach 2:
The system implements feedback mechanisms that automatically notify users of changes in betting parameters, odds movements, and event status updates. This feedback loop keeps users informed of real-time betting information without requiring them to continuously monitor the application, thereby maintaining information accuracy while reducing user time investment.
2Reliability
If existing sports wagering applications require continuous monitoring and understanding of betting parameters, then users can make informed bets, but operational complexity increases
Solution Approach 1:
The system performs self-service by automatically analyzing betting parameters, calculating odds, and identifying favorable betting opportunities. The application autonomously monitors market conditions and presents pre-analyzed betting recommendations to users, eliminating the need for users to manually monitor and interpret complex betting parameters while still providing reliable, data-driven betting decisions.
Solution Approach 2:
The system acts as an intermediary between complex betting markets and users. It translates complex odds, probabilities, and market movements into simplified, actionable betting recommendations. This intermediary layer filters and processes raw betting data, presenting only the most relevant and favorable opportunities to users, thereby maintaining decision reliability while simplifying user interaction.
3Adaptability or versatility
If existing sports wagering applications lack geofencing capabilities, then users can access betting services freely, but regulatory compliance deteriorates and unauthorized cross-state betting occurs
Solution Approach 1:
The system performs preliminary geofencing setup and location verification before allowing betting transactions. Geofence boundaries are pre-configured based on regulatory requirements, and the system continuously verifies user location against these boundaries. This preliminary action ensures regulatory compliance is built into the access mechanism itself, allowing flexible user access within compliant regions while automatically blocking unauthorized cross-state betting.
4Reliability
If existing sports wagering applications implement log-out features after inactivity, then security is improved, but user accessibility deteriorates
Solution Approach 1:
The system implements dynamic session management that adapts logout timing based on user behavior patterns and security risk assessment. The application monitors activity patterns and adjusts session duration dynamically, extending access for trusted users while maintaining shorter sessions for potentially risky scenarios. This dynamic approach balances security requirements with user convenience, preventing automatic logout during active betting sessions while maintaining security for inactive accounts.
Data Source
AI summary
A system, method, and non-transitory computer readable medium for sports wagering include an application executable by a processor of a user computing device, wherein the application is configured to have the processor programmed with an algorithm to execute multi-factor and risk-based authentication instructions to identify a geographical area of the user and automatically generate a geofence for the geographical area, choose a game and a wager on the game within the geofence, set at least one predefined parameter for the game within the geofence, transmit the at least one predefined parameter and wager on the game, monitor the at least one predefined parameter for the game, determine whether the at least one predefined parameter is met, and transmit an actionable alert notification when the at least one predefined parameter is met.