Patent ID: 8083584

Claim:
A method for permitting cancellation of wagers via a computer system, said method comprising the steps of: storing information in the computer system related to each of a plurality of users; allowing one of the plurality of users to place a wager on a pending event via the computer system; providing a wager cancellation interface; enabling the wager cancellation interface for the one of the plurality of users based on the information stored in the computer system related to the one of the plurality of users, the wager cancellation interface for allowing the one of the plurality of users to cancel the wager; and providing a wager cancellation limitation operable by the computer system to automatically prevent cancellation of the wager, by the user, after the user violates the wager cancellation limitation, the wager cancellation limitation being based on at least one of a dollar amount of all previously wagers canceled by the user during a predetermined time period or a total number of all previously wagers canceled by the user during the predetermined time period.