Patent ID: 7641549
Filing Date: 2010-01-05
Classification: A63F,G06Q,G07F

Abstract:
1. A method comprising: determining, by a processor of a computer, a first set of entries in a competition, in which each entry of the first set of entries corresponds to a respective team of a set of teams participating in the sports competition and in which the sports competition has one or more stages; at least one entry to be determined a winning entry based on an occurrence of an event associated with the activity; of distributing, by the processor, the first set of entries to a plurality of users; to at least one buyer; and receiving, by the processor, a buy order placed by a first user of the plurality of users, in which the buy order is associated with at least one entry of the first set of entries; receiving, by the processor, a sell order placed by a second user of the plurality of users associated with the at least one entry of the first set of entries, in which the second user does not own the at least one entry at a time the sell order is placed; matching, by the processor, the buy order with the sell order thereby creating a short sale of the at least one entry to the first user; settling, by the processor, with the second user, at a predetermined time, any differential between a first price of the at least one entry at the time the sell order is placed and a second price of the at least one entry at the predetermined time; determining, by the processor, a winning entry of the first set of entries based on at least one first outcome of the sports competition; and paying, by the processor, a payout to one or more users who hold the winning entry.