Online betting systems

Abstract

Online betting systems are disclosed in which a number of players may offer and accept bets online on the outcome of events, for example sporting events. Each player may be both offering bets and accepting them. By linking together, in a central server operating the system, databases reflecting betting data relating to bets which have been both offered and accepted, but which are outstanding because the outcome of the event is not yet known, and reflecting account data of the players, a players theoretical exposure at any one time may be calculated, and action taken to update the betting database data if the theoretical exposure would exceed the amount held in the account of the player concerned. By carrying out that calculation ignoring unmatched offers which each player has made, unnecessary restrictions do not need to be placed on the offers made by each player. Once an offer is accepted, however, a fresh calculation is made and this can result in previously existing other offers being deleted. This approach improves the liquidity of the system and enables players to operate to a greater extent, thereby improving the return to the operator of the system.

1 . Computer apparatus adapted to enable online betting activity to be undertaken, and enabling bets to be made bilaterally within a group of players, the apparatus comprising a central server, a plurality of remote computer-based devices programmed to interact with the central server to enable communication between each device and the central server via the Internet, program means in the central server for storing and processing betting data stored in a bet database and each remote computer-based device having a display means enabling a player to view information in the bet database held by the central server and having input means enabling the player to input information, via the remote device, into the central server, means in the central server to receive and store information relating to offers posted by players, means in the central server for storing and processing data corresponding to the amount of money in an account held by each player with the operators of the central server, means for calculating from betting data in the bet database server, on receipt of an offer or on acceptance by another player of a betting offer posted by way of input to the central server by a player, the exposure of each player, means for computing a theoretical exposure from the bet exposure, the outstanding offers and the aggregate winnings, means enabling the operator of the system to define an acceptable level of theoretical exposure, and means for calculating if the acceptance of other offers placed by the player will cause the theoretical exposure to exceed the acceptable level and, if such occurs, to remove from the bet database sufficient offers made by the player to reduce the theoretical exposure to below the acceptable level.  
   
   
       2 . Computer apparatus according to  claim 1  wherein the central server includes means for receiving and storing budget limits input by a player, means in the server to receive and store prioritization and budgeting information relating to the offers, and wherein the means for removing offers operates in accordance with the prioritization and budgeting information.  
   
   
       3 . Computer apparatus according to  claim 1  wherein the central server is programmed to total for each player, continuously and in real time, the total of bets matched between that user and all other users of the system, including details of the event and the selection, and to total the offers and matched bets in terms of possible winnings and stakes betted, both lay bets and back bets, whereby to compute the theoretical exposure for each player.  
   
   
       4 . Computer apparatus according to  claim 2  wherein the central server is programmed to total for each player, continuously and in real time, the total of bets matched between that user and all other users of the system, including details of the event and the selection, and to total the offers and matched bets in terms of possible winnings and stakes betted, both lay bets and back bets, whereby to compute the theoretical exposure for each player.  
   
   
       5 . Computer apparatus according to  claim 1  wherein the central server includes an account database system and a bet database system, and the server is programmed to enable a functional connection to be effected between the two.  
   
   
       6 . Computer apparatus according to  claim 2  wherein the central server includes an account database system and a bet database system, and the server is programmed to enable a functional connection to be effected between the two.  
   
   
       7 . Computer apparatus according to  claim 3  wherein the central server includes an account database system and a bet database system, and the server is programmed to enable a functional connection to be effected between the two.  
   
   
       8 . Computer apparatus according to  claim 4  wherein the central server includes an account database system and a bet database system, and the server is programmed to enable a functional connection to be effected between the two.  
   
   
       9 . Computer apparatus according to  claim 1  wherein the central server is programmed, on the outcome of an event becoming known, to advise each player with an interest in the outcome of that event of the outcome, to adjust the player's account accordingly, and to recalculate the player's theoretical exposure.  
   
   
       10 . Computer apparatus according to  claim 2  wherein the central server is programmed, on the outcome of an event becoming known, to advise each player with an interest in the outcome of that event of the outcome, to adjust the player's account accordingly, and to recalculate the player's theoretical exposure.  
   
   
       11 . Computer apparatus according to  claim 3  wherein the central server is programmed, on the outcome of an event becoming known, to advise each player with an interest in the outcome of that event of the outcome, to adjust the player's account accordingly, and to recalculate the player's theoretical exposure.  
   
   
       12 . Computer apparatus according to  claim 4  wherein the central server is programmed, on the outcome of an event becoming known, to advise each player with an interest in the outcome of that event of the outcome, to adjust the player's account accordingly, and to recalculate the player's theoretical exposure.  
   
   
       13 . Computer apparatus according to  claim 5  wherein the central server is programmed, on the outcome of an event becoming known, to advise each player with an interest in the outcome of that event of the outcome, to adjust the player's account accordingly, and to recalculate the player's theoretical exposure.  
   
   
       14 . Computer apparatus according to  claim 6  wherein the central server is programmed, on the outcome of an event becoming known, to advise each player with an interest in the outcome of that event of the outcome, to adjust the player's account accordingly, and to recalculate the player's theoretical exposure.  
   
   
       15 . Computer apparatus according to  claim 7  wherein the central server is programmed, on the outcome of an event becoming known, to advise each player with an interest in the outcome of that event of the outcome, to adjust the player's account accordingly, and to recalculate the player's theoretical exposure.  
   
   
       16 . Computer apparatus according to  claim 8  wherein the central server is programmed, on the outcome of an event becoming known, to advise each player with an interest in the outcome of that event of the outcome, to adjust the player's account accordingly, and to recalculate the player's theoretical exposure.  
   
   
       17 . Computer apparatus adapted to enable online betting activity to be undertaken, and enabling bets to be made bilaterally within a group of players, the apparatus comprising a central server, a plurality of remote computer-based devices programmed to interact with the central server to enable communication between each device and the central server via the Internet, a program component in the central server for storing and processing betting data stored in a bet database and each remote computer-based device having a display component enabling a player to view information in the bet database held by the central server and having an input component enabling the player to input information, via the remote device, into the central server, a component in the central server to receive and store information relating to offers posted by players, a component in the central server for storing and processing data corresponding to the amount of money in an account held by each player with the operators of the central server, a component for calculating from betting data in the bet database server, on receipt of an offer or on acceptance by another player of a betting offer posted by way of input to the central server by a player, the exposure of each player, a component for computing a theoretical exposure from the bet exposure, the outstanding offers and the aggregate winnings, a component enabling the operator of the system to define an acceptable level of theoretical exposure, and a component for calculating if the acceptance of other offers placed by the player will cause the theoretical exposure to exceed the acceptable level and, if such occurs, to remove from the database sufficient offers made by the player to reduce the theoretical exposure to below the acceptable level.  
   
   
       18 . Computer apparatus according to  claim 17  wherein the central server includes a component for receiving and storing budget limits input by a player, a component in the server to receive and store prioritization and budgeting information relating to the offers, and wherein the component for removing offers operates in accordance with the prioritization and budgeting information.