Patent ID: 8821269

Claim:
A method, comprising: receiving by a processor state information of a live event in real time; determining by the processor an initial state and a plurality of possible future states of a performance parameter of the live event based on the state information; creating by the processor a first betting market for betting on at least one of the plurality of possible future states, in which the plurality of users comprises a first user, and in which the act of creating a first betting market comprises: for each of the plurality of possible future states, determining by the processor a probability of occurrence for the possible future state; and determining by the processor odds for betting on at least one of the plurality of possible future states based on the respective probability determined for that possible future state; after creating the first betting market, receiving by the processor from the first user a first bet comprising a selection of one of the plurality of possible future states; after receiving the first bet, closing by the processor the first betting market prior to an end time of the initial state; sending from the processor an instruction signal to close the first betting market; determining by the processor an actual future state of the performance parameter; determining by the processor that the possible future state selected by the first user is the actual future state; automatically paying a payout to the first user based on the first bet and the act of determining that the possible future state selected by the first user is the actual future state; causing, by the processor, an image of the playing field of the live sporting event to be displayed on a touch-sensitive display device, the image comprising at least one of a location on the playing field and a position on the playing field; receiving, by the processor, from the display device an indication that a user touched the at least one of a location on the playing field and a position on the playing field; in response to receiving the indication, causing, by the processor, the touch-sensitive display device to output a selectable betting option related to the at least one of a location on the playing field and a position on the playing field; and receiving, by the processor, an indication that the user selected the selectable betting option.