Automated In-Game Odds from Trusted Live Event Data
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Solution Overview
Problem
Existing wagering systems struggle to efficiently manage in-game betting opportunities due to manual processes that limit the number and accuracy of odds determination for in-game events, often leading to inaccurate probabilities and limited betting options.
Innovation Solution
A system that processes live event state information in real-time to determine possible future states and their associated probabilities, enabling the creation of a betting market for these states with automated odds determination and resolution of bets based on updated information.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If manual processes are used to determine odds for in-game betting, then the system is simpler to operate, but the accuracy and timeliness of odds determination deteriorates
Solution Approach 1:
The patent replaces manual mechanical processes with an automated computer-based system that receives real-time state information, processes it through algorithms, and generates odds automatically. This substitution of manual operations with automated computational processes directly resolves the contradiction by improving odds determination accuracy while accepting the necessary increase in system complexity.
Solution Approach 2:
The system performs self-service by automatically processing state information and generating odds without requiring manual intervention. The computer system autonomously receives data, processes it through predetermined algorithms, and outputs odds, eliminating the need for human operators to manually calculate and update betting odds in real-time.
2Productivity
If manual processes are used to manage betting opportunities, then the device complexity is lower, but the productivity and number of betting options deteriorates
Solution Approach 1:
The patent replaces manual management processes with automated computer-based systems that can simultaneously handle multiple betting markets, process real-time data streams, and generate numerous betting options. This automation enables the system to manage a much larger number of betting opportunities with higher productivity than manual processes could achieve.
Solution Approach 2:
The system achieves multi-functionality by being capable of processing various types of state information, generating multiple different betting markets, and managing diverse betting options all through a single integrated platform. This universal capability allows the system to provide numerous betting opportunities across different events and market types simultaneously.
3Loss of time
If real-time processing is implemented, then the timeliness of odds updates is improved, but the use of energy and computational resources increases
Solution Approach 1:
The system implements periodic processing by receiving state information at regular intervals and updating odds accordingly. This periodic action allows the system to maintain timeliness of odds updates while managing computational resource consumption by processing data in structured time intervals rather than continuously, thereby reducing overall energy usage while preserving real-time responsiveness.
Data Source
AI summary
Techniques for determining odds for electronic betting on a live sporting event automatically based on trusted sources are described. For example, information related to an in-progress, live sporting event is received from sources. Each source has a calculated, respective trust score. Once the live sporting event has started, but before a certain outcome of the live sporting event has been determined, possible future values of the outcome are determined. A respective probability for each of the possible future values is calculated based on the information and reliability information. The reliability information is based on the respective trust scores of the sources. Based on the probabilities and repeated calculations of the reliability information, odds for betting that one of the possible future values of the outcome is calculated.