Online wagering method

Abstract

A method of online wagering on events such as sports, financial markets, politics, entertainment, and the like. The user is required to select an event and wager on the outcome of the selected event by entering a bid amount. The user also selects time period and day of the wager. Winners are determined based on the users' selections of the outcome of the event and the time and date of the wager. The total amount of money wagered by all the participants is proportionately distributed among the winners, after transactional fee deduction, according to the individual bid amounts entered by the winners.

1 . A method of online wagering on events comprising:
 providing a user interface for users to participate in wagering;   selecting an event by the users;   giving an opportunity for the users to wager on a performance of the selected event, wherein the wager is a simple choice between two options that correspond to positive and negative performances of the selected event.   
   
   
       2 . The method of  claim 1  further comprising: distributing a total amount of money, after deduction of a transactional fee, wagered by all the participating users proportionately among winners according to bid amounts entered by the winners. 
   
   
       3 . The method of  claim 1  further comprising: giving an opportunity for the users to enter a bid amount and select times and dates of the wager. 
   
   
       4 . The method of  claim 1  further comprising: determining the winners of the wager based on the users' selections of the performance of the event and a time and date of the wager, the winners being declared after the conclusion of the event. 
   
   
       5 . The method of  claim 1  further comprising: giving the users the choice to select a series of dates on which they want to wager. 
   
   
       6 . The method of  claim 1  further comprising: displaying all the wagers made by the user. 
   
   
       7 . The method of  claim 6  further comprising: categorizing the wagers into positive and negative performances of the events. 
   
   
       8 . The method of  claim 1  further comprising: displaying current winning amount for the users if the wager is won. 
   
   
       9 . The method of  claim 1  further comprising: giving the users the ability to edit the bid amount. 
   
   
       10 . The method of  claim 1  further comprising: giving the users the ability to cancel the wager. 
   
   
       11 . The method of  claim 1  further comprising: displaying historical behavior of the events to the users. 
   
   
       12 . The method of  claim 1 , wherein the event is a financial market event. 
   
   
       13 . The method of  claim 1 , wherein the event is a sporting event. 
   
   
       14 . The method of  claim 1 , wherein the events are categorized into several groups and subgroups. 
   
   
       15 . The method of  claim 1 , wherein the method does not include dealers. 
   
   
       16 . The method of  claim 1 , wherein each user registers by opening an account with a two way online payment method. 
   
   
       17 . The method of  claim 16 , wherein age of the user is verified while creating the account. 
   
   
       18 . The method of  claim 1 , wherein the users can assign favorites concerning the events. 
   
   
       19 . The method of  claim 1  further comprising: displaying highest and lowest volume wagers and potential gain for a specific amount that is wagered. 
   
   
       20 . The method of  claim 1  further comprising: displaying highest and lowest potential gains.