Range Wager Order Matching for Faster Electronic Transactions
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing electronic wagering systems face challenges in increasing transaction speed and efficiency, particularly in matching and processing range wagers, leading to delays and inefficiencies in online betting platforms.
Innovation Solution
Implementing a system that allows for range wagering with variable returns based on the proximity of the wager outcome, utilizing a price/time order matching feature to quickly match orders in a central order book, and facilitating full or partial matching of wagers through order-to-contract mechanisms.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Speed
If traditional wager matching methods are used, then system complexity is reduced, but transaction speed and efficiency deteriorate
Solution Approach 1:
The patent segments the wager matching process into multiple components: order book maintenance, range wager decomposition, and partial matching algorithms. By breaking down the complex matching operation into discrete, manageable segments, the system achieves faster processing speeds while maintaining manageable complexity through modular architecture.
Solution Approach 2:
The system performs preliminary actions by pre-processing wager parameters, pre-calculating match potentials, and maintaining sorted order books before actual matching occurs. This advance preparation reduces the computational burden during live wager matching, thereby increasing transaction speed without requiring overly complex real-time processing.
2Productivity
If range wager matching is implemented, then wager acceptance increases, but processing time increases
Solution Approach 1:
The patent applies partial matching by accepting wagers even when complete matches are not immediately available. The system can partially fulfill range wagers by matching portions of the wager amount against available orders, thereby increasing overall wager acceptance while reducing the time required to process each individual wager through incremental matching rather than requiring complete matches.
Solution Approach 2:
The system dynamically adjusts matching strategies based on real-time conditions. When range wagers are placed, the system flexibly determines the optimal matching approach by considering current order book depth, wager sizes, and market conditions, allowing faster processing by adapting the matching algorithm to the specific situation rather than using a fixed rigid process.
3Adaptability or versatility
If variable return range wagering is implemented, then user engagement increases, but system complexity increases
Solution Approach 1:
The patent implements a universal wager matching framework that handles multiple wager types (fixed returns, variable returns, range wagers) through a single unified processing architecture. By designing the system to accommodate diverse wager configurations within the same operational framework, the platform achieves enhanced versatility and user engagement while avoiding the need to maintain separate complex systems for each wager type.
Data Source
AI summary
Embodiments provided herein include systems and methods for increasing speed of electronic transactions. One embodiment includes receiving a range wager for a first user on an event at a first wager unit amount and determining that a first partially matching wager is recorded for a second user that was placed with a second wager unit amount that is a fraction of the first wager unit amount of the range wager. Some embodiments include dividing the range wager into a plurality of divided wagers, where a first divided wager has a first divided unit amount equal to the second unit wager value and matching the first divided wager with the first partially matching wager. Some embodiments include determining the outcome for the event and providing a partial return, based on the first divided unit amount.