Patent ID: 8001039

Claim:
A method comprising: receiving by at least one server identification information submitted by a first user, in which the identification information is received from the first user via a computer system associated with the first user, the computer system being coupled to the at least one server over a communications network; transmitting by the at least one server to at least one credit verification entity a request for credit information, in which the request includes at least a portion of the identification information; receiving by the at least one server from the at least one credit verification entity the requested credit information, in which the requested credit information includes a credit score and an identity score, in which the credit score represents a quality of credit associated with a person identified by the identification information, and in which the identity score represents a level of assurance that the person identified by the identification information is the same person as the first user; based at least in part on the credit score and the identity score, approving by the at least one server an opening of an account for the first user, in which the account has a plurality of balances associated therewith, including (i) a margin balance and (ii) a credit balance, and in which the first user may use the account to place bets on sporting events; based at least in part on approving the opening of the account for the first user, establishing by the at least one server the account, in which establishing the account includes: determining, based at least in part on the requested credit information, initial values for the margin balance and the credit balance; receiving by the at least one server a first order from the first user and a second order from a second user, in which the first order comprises a request to place a bet on a sporting event and further comprises or defines an amount that the first user wishes to wager on the sporting event, in which the second order comprises a request to place a bet on the sporting event and further comprises or defines an amount that the second user wishes to wager on the sporting event, determining by the at least one server a risk value for the first order, in which the risk value comprises an amount that the first user could lose on the bet associated with the first order; determining by the at least one server that the risk value does not exceed at least one of (i) at least one of the plurality of balances and (ii) at least one value determined from the at least one balance; approving by the at least one server the first order based at least in part on determining that the risk value does not exceed the at least one (i) the at least one balance and (ii) the at least one value determined from the at least one balance; based at least in part on approving the first order, making by the at least one server the first order available for matching with other orders; and matching by the at least one server the first order with the second order.