Patent ID: 8858326

Claim:
A method, comprising: receiving by at least one processor state information of a live event in real time, in which the live event comprises a sporting event played by human players in a playing area according to predetermined rules that are used to determine at least one winner of the sporting event; determining by the at least one 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: determining by the processor probabilities for the plurality of possible future states; and based at least in part on the probabilities, determining by the processor odds for betting on at least one of the plurality of possible future states; after creating the first betting market, receiving by the processor from a first of a plurality of users a first bet comprising a selection of one of the plurality of possible future states corresponding to a location in the playing area, in which the act of receiving the first bet comprises receiving an indication that the first of the plurality of users selected a portion of an image of at least a portion of the playing area, the selected portion corresponding to the location in the playing area; 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; and 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.