System and method of networked wagering

Abstract

A system and method to permit foreign or interstate wagering from remote locations where the wager is placed, accepted and settled all within a state, territory or other forum where wagering and other gaming is sanctioned. An organization situated in the forum location (the “forum host”) establishes and maintains a business entity to bestow intra-forum presence to the foreign or interstate player. Through the business entity, the forum host can account for the player's wagers, winnings and losses, while at the same time, allocating and/or collecting the appropriate federal, state and/or local taxes and fees on the member/player's account. The process is automated via a host computer system, which manages betting activities of a plurality of members/players, and enables one or more players at a remote location to participate in intrastate gaming for purposes of the focal forum's laws, rules and regulations affecting the gaming industry.

1 . An automated player system adapted to allow wagering from any location, comprising:
 a host computer associated with a local forum, wherein said host computer is configured to (1) manage betting activities of one or more players; (2) enable each of the one or more players to establish, join, or maintain a business entity, in accordance with applicable legal authority, bestowing an intra-forum presence to the player; (3) account for each of the player's wagers, debts, liabilities, obligations and expenses; and (4) authenticate each of the one or more players as a legally recognized member of the business entity, collect taxes or reports taxable events, generate an audit-trail and track each player's activities; and   a gaming computer operably connected with said host computer, wherein the host computer generates at least one authenticatable message with a token to be provided to the gaming computer indicating that at least one of the one or more players is deemed qualified to participate in intrastate gaming for purposes of the local forum's rules and the gaming computer allows the at least one of the one or more players to participate in a gaming activity; and   wherein upon expiration of the token, the gaming computer generates an inquiry notice to the host computer requesting a status of the at least one of the one or more players.   
     
     
         2 . The system of  claim 1 , further comprising an Authentication, Accounting and Authorization (AAA) sewer. 
     
     
         3 . The system of  claim 1 , further comprising a statistical data base server. 
     
     
         4 . The system of  claim 1 , further comprising a player computer. 
     
     
         5 . The system of  claim 4 , wherein the player computer is any Internet enabled device. 
     
     
         6 . The system of  claim 1 , wherein the at least one authenticatable message is encrypted and generated by an encryption/decryption apparatus independent of the host computer and the gaming computer. 
     
     
         7 . The system of  claim 1 , wherein an apparatus independent of the host computer and the gaming computer authenticates each player. 
     
     
         8 . The system of  claim 1 , wherein each of the one or more players can be authenticated by telephone or via a response unit, by mail, personal registration, or remotely via Internet. 
     
     
         9 . The system of  claim 1 , wherein the business entity is a previously existing entity. 
     
     
         10 . The system of  claim 1 , wherein the business entity comprises previously existing functionality of the forum host. 
     
     
         11 . The system of  claim 1 , wherein the business entity comprises previously existing functionality of the forum's existing gaming infrastructure.