Patent ID: 7788158

Claim:
A computerized method of speculating on a future event in a market, the method comprising: presenting a user interface for speculating in the market; electronically identifying a plurality of initial wagers on the outcome of the future event; receiving, through the user interface, a plurality of speculation wagers on the outcome of said future event, wherein the speculation wagers are wagers received after the plurality of initial wagers; electronically associating, using a processing device, a real time market status for each of the speculation wagers at the time the given speculation wager is received, wherein said real time market status is a factor of a price function that determines: (1) at any given instant in time at or before the future event; and (2) for each respective possible outcome of the future event, the price for a desired number of shares of a payoff for that outcome should that outcome occur, wherein the payoff is a pari-mutuel payoff, wherein the market includes an electronic aftermarket for trading said shares; and after the occurrence of the future event: identifying each correct speculation wager from the plurality of speculation wagers received; identifying a wager or shares amount for each correct speculation wager; and utilizing the price function and the wager or shares amount to electronically calculate, using the processing device, the pari-mutuel payoff for each correct speculation wager, based on the associated real time market status at the time the speculation wager was received.