Betting-products matched bargain method and system

Abstract

A betting exchange method is provided that comprises receiving offers from at least one user and using proportional calculation to determine whether the offers satisfy transaction criteria among themselves; each of said offers comprises a buyer who request (buys) a bet of an outcome or a seller who provides (sells) a bet of an outcome. The invention also provided a bet trading system comprising a receiver to receive offers from at least one user, each of said offers comprises a buyer who requests (buys) a bet of an outcome or a seller who provides (sells) a bet of an outcome; and a decision-maker uses proportional calculation to determine whether the offers satisfy transaction criteria among themselves.

Description

FIELD OF THE INVENTION[0001]This invention is related to the field of proportional bets matching, particularly but not exclusively to secondary fixed odds betting exchange.BACKGROUND OF THE INVENTION[0002]A number of companies provide fixed odds betting services, where players can only access to one side of the market, i.e. they can only efficiently request, or “buy”, a particular outcome, for example who will win in a horse race or in a football game, to occur at odds offered by a bookmaker. The offers may change in time, but those who accept the offer place bets with the bookmaker and, if the outcome desired by the player finally occurs, the bookmaker needs to pay out. In such a scenario, the bookmaker acts as a contract provider with plurality of individual request players, each betting transaction is between bookmaker and player. Though the odds offered by the bookmaker may vary in time depending on the demand of bets, the outcome is still unknown. After the transaction is compl...

AI Technical Summary

Benefits of technology

"The present invention provides a betting exchange method and system that allows users to offer and request bets on outcomes. The system uses proportional calculation to determine if the offers meet certain criteria and can automatically generate implied bets based on the absence of one-side bets. This improves the liquidity of the market and allows for efficient and competitive pricing. The system is user-friendly and convenient, allowing for the sale of existing bets without creating new ones."

Problems solved by technology

Despite of the floating of the odds, it is not easy to write off the bets, whether backing or laying, directly by betting in the counter side.

For example, a player cannot write off an existing bet which has backed at odds 2 to 1, with a laying bet at the market odds 3 to 1 totally, there is still some risk exposure.

Also, back and lays services always create new bets for trade, and they cannot handle the exchange of bets that already exist.

Instead of selling out the existing bets, players can only write off the existing bets by creating new bets, they cannot sell the existing bets without create new bets.

This inconvenience lets players difficult to manage their account.

Nowadays the flexibility of bets exchange provided by exchange market system is limited.

The existing exchange market system cannot support any exchange of bets which are not selected by exchange market system, such as bets with special conditions.

This will limit the growth of the market.

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