Real-Time Wagering System with Dynamic Odds Adjustment
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Solution Overview
Problem
Current wagering platforms limit users to wagering on game outcomes or defined time periods during live sporting events, offering repetitive wagering options and restricting in-play wagering flexibility.
Innovation Solution
A system that allows users to place bets on specific actions or events occurring in real-time during a sporting event, using sensors and data analytics to provide dynamic wagering options and adjust odds based on live event data, enabling users to wager on various aspects of the game as it unfolds.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If users are limited to wagering on game outcomes or defined time periods, then the wagering system remains simple and regulated, but user engagement and wagering variety are reduced
Solution Approach 1:
The patent segments the event timeline into multiple discrete time intervals (first time period, second time period, third time period) and creates distinct wagering markets for each segment. This allows the system to offer diverse wagering options (first wager type, second wager type, third wager type) while maintaining manageable complexity through structured temporal division.
Solution Approach 2:
The system dynamically adjusts wagering options based on real-time event progression. Wagering markets are opened, closed, and adjusted at different time points during the event, allowing the system to adapt to changing event conditions while providing users with evolving wagering opportunities that increase engagement.
2Adaptability or versatility
If users are offered repetitive wagering options from various platforms, then platform differentiation is minimized, but user engagement and excitement are reduced
Solution Approach 1:
The patent applies local quality by creating unique wagering characteristics for each time period. The first wager type has different parameters than the second and third wager types, with each offering specific odds, bet types, and event correlations tailored to that particular time window, thereby diversifying options and reducing repetitiveness.
Solution Approach 2:
The system changes multiple parameters across different wagering markets including odds, time windows, event correlations, and bet types. This parameter variation creates diverse wagering experiences that prevent user boredom while maintaining the core wagering function across different temporal segments.
3Productivity
If real-time data processing is implemented for dynamic odds adjustment, then user engagement and wagering responsiveness improve, but system processing load and latency increase
Solution Approach 1:
The system performs preliminary actions by pre-defining multiple time periods and establishing wagering market frameworks before the event progresses to those periods. This allows real-time processing to focus only on updating odds and accepting bets within predefined structures, reducing the processing burden during live events.
Solution Approach 2:
The system implements feedback mechanisms where real-time event data is processed to dynamically adjust odds and available wagering options. This feedback loop enables responsive wagering that adapts to live event conditions while the structured approach to data processing manages system load through efficient real-time analytics.
Data Source
AI summary
A system for wagering on event outcomes based on two timings during an event can include determining a first timing of an event and a plurality of possible future states of the event based upon a second timing of the event. Then the system may determine a probability of occurrence for each of the plurality of possible future states based on probability information. Then the system may determine odds for betting that a first one of the pluralities of possible future states will occur. Then the system may present a plurality of users at a plurality of corresponding computer interfaces information indicating an opportunity to place a bet at the determined odds that the first possible future state will occur, the plurality of computer interfaces being in networked communication with the at least one processor.